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Commitments and Contingencies - Additional Information (Details)
 3 Months Ended 6 Months Ended
Jun. 30, 2024
USD ($)
lease
repurchase_request
Mar. 31, 2024
USD ($)
Jun. 30, 2024
USD ($)
lease
repurchase_request
Mar. 31, 2024
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
lease
loan
repurchase_request
Jun. 30, 2023
USD ($)
loan
repurchase_request
Dec. 31, 2023
USD ($)
Loss Contingencies [Line Items]                
Lessee, number of leases | lease 8   8     8    
Present value of remaining lease payments $ 14,010,000   $ 14,010,000     $ 14,010,000    
Operating lease expense           $ 2,000,000 $ 3,000,000  
Lessee, number of office leases | lease 0   0     0    
Lease term 1 year   1 year     1 year    
Operating lease liabilities $ 12,656,000   $ 12,656,000     $ 12,656,000   $ 14,725,000
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 $ 10,621,000   $ 10,621,000     $ 10,621,000   12,532,000
Operating lease right-of-use asset, statement of financial position [Extensible List] Other assets   Other assets     Other assets    
Weighted average remaining lease term 4 years   4 years     4 years    
Discount rate (as a percent) 5.30%   5.30%     5.30%    
Derivative liabilities [1] $ 5,954,000   $ 5,954,000     $ 5,954,000   33,828,000
Gain (loss) on market valuation adjustments     29,839,000   $ 6,324,000 73,859,000 17,594,000  
Residential repurchase reserve 3,631,000   3,631,000     3,631,000   4,700,000
Residential loans repurchase (reversal) provision           1,000,000 $ 1,000,000  
Total Residential Investor Loans                
Loss Contingencies [Line Items]                
Residential repurchase reserve $ 200,000   $ 200,000     $ 200,000   0
Number of residential repurchase requests (in repurchase requests) | repurchase_request           10 3  
Number of loans repurchased | loan           1 12  
Number of repurchase requests outstanding | repurchase_request 2   2     2    
Repurchase Reserves                
Loss Contingencies [Line Items]                
Residential repurchase reserve $ 3,000,000   $ 3,000,000     $ 3,000,000   $ 5,000,000
Number of residential repurchase requests (in repurchase requests) | repurchase_request           2 1  
Number of loans repurchased | loan           2 5  
CPP Joint Venture, Residential Investor Bridge and Term Loans                
Loss Contingencies [Line Items]                
Amount committed       $ 100,000,000        
Capital contribution 1,000,000              
Oaktree Joint Venture, Residential Investor Bridge and Term Loans                
Loss Contingencies [Line Items]                
Capital contribution   $ 5,000,000     $ 19,000,000      
Commitment To Fund Residential Investor Bridge Loan                
Loss Contingencies [Line Items]                
Commitment to fund loan 448,000,000   448,000,000     $ 448,000,000    
Derivative liabilities $ 2,000,000   2,000,000     2,000,000    
Gain (loss) on market valuation adjustments     $ (400,000)     $ (1,000,000)    
[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 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.