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Summary of Significant Accounting Policies - Schedule of Offsetting of Financial Assets, Liabilities, and Collateral (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets    
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet [1] $ 14,212 $ 20,830
Liabilities    
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet [1] (33,828) (16,855)
Total Liabilities    
Gross Amounts of Recognized Assets (Liabilities) (502,314) (241,536)
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet (502,314) (241,536)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 472,852 226,625
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral Pledged 28,878 4,518
Net Amount (584) (10,393)
Interest rate agreements    
Assets    
Gross Amounts of Recognized Assets (Liabilities) 1,742 14,625
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet 1,742 14,625
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 0 0
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral Received 0 (5,944)
Net Amount 1,742 8,681
Liabilities    
Gross Amounts of Recognized Assets (Liabilities) 0 0
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet 0 0
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 0 0
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral Pledged 0 0
Net Amount 0 0
TBAs    
Assets    
Gross Amounts of Recognized Assets (Liabilities) 952 1,893
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet 952 1,893
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments (952) (1,873)
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral Received 0 0
Net Amount 0 20
Liabilities    
Gross Amounts of Recognized Assets (Liabilities) (27,020) (16,784)
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet (27,020) (16,784)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 952 1,873
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral Pledged 25,484 4,518
Net Amount (584) (10,393)
Futures    
Assets    
Gross Amounts of Recognized Assets (Liabilities) 0 3,976
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet 0 3,976
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 0 (57)
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral Received 0 0
Net Amount 0 3,919
Liabilities    
Gross Amounts of Recognized Assets (Liabilities) (3,394) (57)
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet (3,394) (57)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 0 57
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral Pledged 3,394 0
Net Amount 0 0
Interest Rate Agreement, TBAs, And Futures    
Assets    
Gross Amounts of Recognized Assets (Liabilities) 2,694 20,494
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet 2,694 20,494
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments (952) (1,930)
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral Received 0 (5,944)
Net Amount 1,742 12,620
Loan warehouse debt    
Loan warehouse debt and Security repurchase agreement    
Gross Amounts of Recognized Assets (Liabilities) (471,900) (224,695)
Gross Amounts Offset in Consolidated Balance Sheet 0 0
Net Amounts of Assets (Liabilities) Presented in Consolidated Balance Sheet (471,900) (224,695)
Gross Amounts Not Offset in Consolidated Balance Sheet, Financial Instruments 471,900 224,695
Gross Amounts Not Offset in Consolidated Balance Sheet, Cash Collateral Pledged 0 0
Net Amount $ 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.