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Residential Loans - Schedule of Classifications and Carrying Value of Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022
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SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Mortgage servicing rights |  | $ 912,000 |
Held-for-sale at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans | [1] | 911,192 | $ 780,781
Legacy Sequoia | Residential loans, held-for-investment, at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 139,739 | 184,932
Sequoia | Residential loans, held-for-investment, at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 4,640,464 | 3,190,417
Freddie Mac SLST | Residential loans, held-for-investment, at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 1,359,242 | 1,457,058
Residential Loans |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 7,050,637 | 5,613,188
Residential Loans | Held-for-sale at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 911,192 | 780,781
Residential Loans | Residential loans, held-for-investment, at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 6,139,445 | 4,832,407
Residential Loans | Legacy Sequoia |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 139,739 | 184,932
Residential Loans | Legacy Sequoia | Held-for-sale at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 0 | 0
Residential Loans | Legacy Sequoia | Residential loans, held-for-investment, at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 139,739 | 184,932
Residential Loans | Sequoia |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 4,640,464 | 3,190,417
Residential Loans | Sequoia | Held-for-sale at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 0 | 0
Residential Loans | Sequoia | Residential loans, held-for-investment, at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 4,640,464 | 3,190,417
Residential Loans | Freddie Mac SLST |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 1,359,242 | 1,457,058
Residential Loans | Freddie Mac SLST | Held-for-sale at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 0 | 0
Residential Loans | Freddie Mac SLST | Residential loans, held-for-investment, at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 1,359,242 | 1,457,058
Residential Loans | HEI at Redwood |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 911,192 | 780,781
Residential Loans | HEI at Redwood | Held-for-sale at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | 911,192 | 780,781
Residential Loans | HEI at Redwood | Residential loans, held-for-investment, at fair value |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans |  | $ 0 | $ 0
[1] | Our consolidated balance sheets include assets of consolidated variable interest entities (“VIEs”) that can only be used to settle obligations of these VIEs and liabilities of consolidated VIEs for which creditors do not have recourse to Redwood Trust, Inc. or its affiliates. At December 31, 2023 and 2022, assets of consolidated VIEs totaled $10,988,885 and $9,257,291, respectively. At December 31, 2023 and 2022, liabilities of consolidated VIEs totaled $10,096,308 and $8,270,276, respectively. See Note 4 for further discussion.

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