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Principles of Consolidation - Schedule of Assets and Liabilities of Consolidated VIEs (Details)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
USD ($)
Investment
securitization_entity
Dec. 31, 2023
USD ($)
Investment
Jun. 30, 2023
USD ($)
Variable Interest Entity [Line Items]      
Home equity investments [1] $ 574,119 $ 550,436  
Other investments [1] 349,906 343,930  
Cash and cash equivalents 275,581 [1] 293,104 [1] $ 357,308
Accrued interest receivable 92,018 69,072  
Other assets [1] 403,181 402,944  
Total Assets [1] 16,491,104 14,504,327  
Accrued interest payable 60,060 52,755  
Accrued expenses and other liabilities [1] 294,236 216,803  
Asset-backed securities issued [1] 11,555,550 9,811,880  
Total liabilities [1] $ 15,270,366 13,301,634  
Securitization entity | securitization_entity 2    
CAFL      
Variable Interest Entity [Line Items]      
Fair value of securities owned $ 337,000 323,000  
At consolidated CAFL Bridge entities      
Variable Interest Entity [Line Items]      
Fair value of securities owned 25,000 22,000  
Freddie Mac SLST      
Variable Interest Entity [Line Items]      
Fair value of securities owned 258,000 274,000  
VIEs      
Variable Interest Entity [Line Items]      
Total Assets 12,844,193 10,988,885  
Total liabilities 11,866,962 10,096,308  
VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Home equity investments 320,816 305,717  
Other investments 257,676 257,489  
Cash and cash equivalents 24,791 9,482  
Restricted cash 33,347 44,905  
Accrued interest receivable 58,620 47,798  
Other assets 56,447 24,443  
Total Assets 12,844,193 10,988,885  
Short-term debt 145,785 153,653  
Accrued interest payable 43,649 33,932  
Accrued expenses and other liabilities 121,977 96,843  
Asset-backed securities issued 11,555,551 9,811,880  
Total liabilities 11,866,962 10,096,308  
Value of our investments in VIEs $ 978,967 $ 885,770  
Number of VIEs | Investment 78 72  
Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans $ 8,247,608 $ 6,139,445  
Residential investor loans, held-for-investment      
Variable Interest Entity [Line Items]      
Fair value of loans [1] 4,620,167 5,040,048  
Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 3,423,094 3,734,321  
Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 421,794 425,285  
Sequoia | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Home equity investments 0 0  
Other investments 0 0  
Cash and cash equivalents 0 0  
Restricted cash 149 163  
Accrued interest receivable 31,821 20,029  
Other assets 0 0  
Total Assets 6,982,556 4,800,395  
Short-term debt 0 0  
Accrued interest payable 27,879 16,293  
Accrued expenses and other liabilities 0 0  
Asset-backed securities issued 6,686,531 4,568,660  
Total liabilities 6,714,410 4,584,953  
Value of our investments in VIEs $ 264,136 $ 211,638  
Number of VIEs | Investment 48 42  
Sequoia | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans $ 6,950,586 $ 4,780,203  
Sequoia | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 0 0  
Sequoia | Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 0 0  
CAFL | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Home equity investments 0 0  
Other investments 0 0  
Cash and cash equivalents 0 0  
Restricted cash 22,280 33,921  
Accrued interest receivable 18,481 20,806  
Other assets 49,640 14,886  
Total Assets 3,513,495 3,803,934  
Short-term debt 0 0  
Accrued interest payable 9,984 11,537  
Accrued expenses and other liabilities 6,650 2,734  
Asset-backed securities issued 3,058,191 3,362,978  
Total liabilities 3,074,825 3,377,249  
Value of our investments in VIEs $ 444,932 $ 424,136  
Number of VIEs | Investment 21 21  
CAFL | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans $ 0 $ 0  
CAFL | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 3,423,094 3,734,321  
CAFL | Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 0 0  
Freddie Mac SLST | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Home equity investments 0 0  
Other investments 0 0  
Cash and cash equivalents 0 0  
Restricted cash 0 0  
Accrued interest receivable 4,678 4,821  
Other assets 2,527 3,158  
Total Assets 1,304,227 1,367,221  
Short-term debt 0 0  
Accrued interest payable 4,288 4,496  
Accrued expenses and other liabilities 0 0  
Asset-backed securities issued 1,204,835 1,265,777  
Total liabilities 1,209,123 1,270,273  
Value of our investments in VIEs $ 94,714 $ 96,623  
Number of VIEs | Investment 3 3  
Freddie Mac SLST | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans $ 1,297,022 $ 1,359,242  
Freddie Mac SLST | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 0 0  
Freddie Mac SLST | Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 0 0  
Freddie Mac K-Series | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Home equity investments 0 0  
Other investments 0 0  
Cash and cash equivalents 0 0  
Restricted cash 0 0  
Accrued interest receivable 1,257 1,320  
Other assets 0 0  
Total Assets 423,051 426,605  
Short-term debt 0 0  
Accrued interest payable 1,131 1,190  
Accrued expenses and other liabilities 0 0  
Asset-backed securities issued 387,791 391,977  
Total liabilities 388,922 393,167  
Value of our investments in VIEs $ 34,003 $ 33,308  
Number of VIEs | Investment 1 1  
Freddie Mac K-Series | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans $ 0 $ 0  
Freddie Mac K-Series | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 0 0  
Freddie Mac K-Series | Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 421,794 425,285  
Servicing Investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Home equity investments 0 0  
Other investments 257,676 257,489  
Cash and cash equivalents 24,791 9,482  
Restricted cash 0 0  
Accrued interest receivable 2,383 822  
Other assets 4,181 6,337  
Total Assets 289,031 274,130  
Short-term debt 145,785 153,653  
Accrued interest payable 367 416  
Accrued expenses and other liabilities 43,058 34,357  
Asset-backed securities issued 0 0  
Total liabilities 189,210 188,426  
Value of our investments in VIEs $ 99,821 $ 85,704  
Number of VIEs | Investment 3 3  
Servicing Investment | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans $ 0 $ 0  
Servicing Investment | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 0 0  
Servicing Investment | Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 0 0  
HEI | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Home equity investments 320,816 305,717  
Other investments 0 0  
Cash and cash equivalents 0 0  
Restricted cash 10,918 10,821  
Accrued interest receivable 0 0  
Other assets 99 62  
Total Assets 331,833 316,600  
Short-term debt 0 0  
Accrued interest payable 0 0  
Accrued expenses and other liabilities 72,269 59,752  
Asset-backed securities issued 218,203 222,488  
Total liabilities 290,472 282,240  
Value of our investments in VIEs $ 41,361 $ 34,361  
Number of VIEs | Investment 2 2  
Fair value of securities owned $ 41,000    
HEI | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 0 $ 0  
HEI | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 0 0  
HEI | Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities      
Variable Interest Entity [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 June 30, 2024 and December 31, 2023, assets of consolidated VIEs totaled $12,844,193 and $10,988,885, respectively. At June 30, 2024 and December 31, 2023, liabilities of consolidated VIEs totaled $11,866,962 and $10,096,308, respectively. See Note 15 for further discussion.