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Commitments and Contingencies - Additional Information (Details) |  |  | 3 Months Ended | 12 Months Ended |  |
--- | --- | --- | --- | --- | --- | ---
Dec. 31, 2023 USD ($) lease tranche loan | Jul. 01, 2022 USD ($) | Jun. 30, 2023 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2023 USD ($) loan repurchase_request lease tranche | Dec. 31, 2022 USD ($) repurchase_request loan | Dec. 31, 2021 USD ($) loan | Dec. 31, 2018 partnership | Dec. 31, 2016 USD ($) | Dec. 31, 2015 USD ($)
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |
Lessee, number of leases | lease |  | 10 |  |  |  | 10 |  |  |  |  |
Present value of remaining lease payments |  | $ 16,442,000 |  |  |  | $ 16,442,000 |  |  |  |  |
Operating lease expense |  |  |  |  |  | 5,000,000 | $ 5,000,000 | $ 4,000,000 |  |  |
Unamortized leasehold improvements |  | $ 2,000,000 |  |  |  | 2,000,000 |  |  |  |  |
Leasehold amortization expense |  |  |  |  |  | $ 500,000 | 500,000 | 500,000 |  |  |
Lessee, number of office leases | lease |  | 2 |  |  |  | 2 |  |  |  |  |
Operating lease liabilities |  | $ 14,725,000 |  |  |  | $ 14,725,000 | $ 18,563,000 |  |  |  |
Operating Lease, Liability, Statement of Financial Position [Extensible List] |  | Accounts Payable and Accrued Liabilities |  |  |  | Accounts Payable and Accrued Liabilities | Accounts Payable and Accrued Liabilities |  |  |  |
Operating lease right-of-use assets |  | $ 12,532,000 |  |  |  | $ 12,532,000 | $ 16,177,000 |  |  |  |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] |  | Other assets |  |  |  | Other assets | Other assets |  |  |  |
Weighted average remaining lease term |  | 4 years |  |  |  | 4 years |  |  |  |  |
Discount rate (as a percent) |  | 5.30% |  |  |  | 5.30% |  |  |  |  |
Derivative liabilities | [1] | $ 33,828,000 |  |  |  | $ 33,828,000 | $ 16,855,000 |  |  |  |
Net market valuation adjustments |  |  |  |  |  | 35,814,000 | (227,186,000) | 321,433,000 |  |  |
Number of partnerships, committed to fund | partnership |  |  |  |  |  |  |  |  | 2 |  |
Risk share income |  |  |  |  |  | 716,000 | 1,289,000 | $ 2,815,000 |  |  |
Guarantee obligations |  | 5,781,000 |  |  |  | 5,781,000 | 6,344,000 |  |  |  |
Guarantee obligation, credit reserve |  | 5,000,000 |  |  |  | 5,000,000 |  |  |  |  |
SPE, assets |  | 28,000,000 |  |  |  | 28,000,000 | 30,000,000 |  |  |  |
SPE, liabilities |  | 6,000,000 |  |  |  | 6,000,000 | 6,000,000 |  |  |  |
Repurchase reserve |  | 5,000,000 |  |  |  | $ 5,000,000 | $ 6,000,000 |  |  |  |
Residential loans repurchase requests | repurchase_request |  |  |  |  |  | 1 | 14 |  |  |  |
Residential loans, number of loans repurchased | loan |  |  |  |  |  | 5 | 1 | 2 |  |  |
Residential loans repurchase (reversal) provision |  |  |  |  |  | $ 1,000,000 | $ (3,000,000) | $ 1,000,000 |  |  |
Mortgage loans on real estate, loans repurchased |  |  |  |  |  | 77,000 | 43,000 | 200,000 |  |  |
Loan repurchase reserves |  | 4,700,000 |  |  |  | 4,700,000 | 7,051,000 |  |  |  |
BPL Bridge Loans |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |
Payments to acquire equity method investment |  | 3,000,000 |  | $ 17,000,000 |  |  |  |  |  |  |
Residential Loans |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |
Unpaid principal balance |  | 916,877,000 |  |  |  | 916,877,000 | 822,063,000 |  |  |  |
Fair value of loans |  | $ 911,192,000 |  |  |  | $ 911,192,000 | $ 780,781,000 |  |  |  |
Number of loans in foreclosure | loan |  | 0 |  |  |  | 0 | 0 |  |  |  |
Business Purpose Loans |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |
Residential loans repurchase requests | repurchase_request |  |  |  |  |  | 15 | 8 |  |  |  |
Residential loans, number of loans repurchased | loan |  |  |  |  |  | 12 | 0 |  |  |  |
Residential loans repurchase (reversal) provision |  |  |  |  |  | $ 0 | $ 1,000,000 |  |  |  |
Loan repurchase reserves |  | $ 0 |  |  |  | 0 | 1,000,000 |  |  |  |
Financing Receivables, Equal to Greater than 90 Days Past Due | Residential Loans |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |
Fair value of loans |  | 0 |  |  |  | 0 | 208,000 |  |  |  |
Maximum |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |
Loss in period |  |  |  |  |  | 100,000 |  |  |  |  |
Guarantee Obligations |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |
Original principal balance of loans sold subject to risk sharing agreement |  |  |  |  |  |  |  |  |  | $ 3,190,000,000 | $ 3,190,000,000
Potential future payments on risk sharing agreements |  | 44,000,000 |  |  |  | 44,000,000 |  |  |  |  |
Unpaid principal balance |  | $ 397,000,000 |  |  |  | $ 397,000,000 |  |  |  |  |
FICO credit score |  | 761 |  |  |  | 761 |  |  |  |  |
Loan to value ratio |  | 74.00% |  |  |  | 74.00% |  |  |  |  |
Guarantee Obligations | Residential Loans |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |
Number of loans in foreclosure | tranche |  | 5 |  |  |  | 5 |  |  |  |  |
Loans held as assets amount in foreclosure |  | $ 1,000,000 |  |  |  | $ 1,000,000 |  |  |  |  |
Guarantee Obligations | Financing Receivables, Equal to Greater than 90 Days Past Due |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |
Fair value of loans |  | 7,000,000 |  |  |  | 7,000,000 |  |  |  |  |
Riverbend |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |
Earnout period |  |  | 2 years |  |  |  |  |  |  |  |
Potential future payments on loans |  |  | $ 25,300,000 |  |  |  |  |  |  |  |
Contingent consideration |  | 0 |  |  |  | 0 |  |  |  |  |
Commitment To Fund Residential Bridge Loan |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |
Other commitment |  | 542,000,000 |  |  |  | 542,000,000 |  |  |  |  |
Derivative liabilities |  | 1,000,000 |  |  |  | 1,000,000 | 2,000,000 |  |  |  |
Net market valuation adjustments |  |  |  |  |  | 1,000,000 | $ (500,000) |  |  |  |
Commitment To Fund Strategic Investment |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |
Other commitment |  | 16,000,000 |  |  |  | 16,000,000 |  |  |  |  |
Payments for other commitments |  |  |  |  | $ 25,000,000 |  |  |  |  |  |
Commitment To Fund RWT Horizons Investments |  |  |  |  |  |  |  |  |  |  |
Loss Contingencies [Line Items] |  |  |  |  |  |  |  |  |  |  |
Other commitment |  | $ 2,000,000 |  |  |  | $ 2,000,000 |  |  |  |  |
Payments for other commitments |  |  |  |  |  |  |  | $ 5,000,000 |  |  |
[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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