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Asset-Backed Securities Issued - Schedule of Asset-Backed Securities Issued (Details) | Sep. 30, 2024 USD ($) series | Dec. 31, 2023 USD ($) series
--- | --- | ---
Debt Instrument [Line Items] |  |  |
Fair Value | [1] | $ 13,019,516,000 | $ 9,811,880,000
VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Fair Value |  | 13,019,515,000 | 9,811,880,000
Asset-backed securities issued | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Unpaid Principal Balance |  | 13,553,415,000 | 10,588,659,000
Fair Value |  | 13,019,516,000 | 9,811,880,000
ABS Issued at Fair Value | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Unpaid Principal Balance |  | 13,095,254,000 | 9,922,113,000
Fair Value |  | 12,564,029,000 | 9,151,263,000
Sequoia | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Unpaid Principal Balance |  | 8,789,284,000 | 5,151,646,000
Fair Value |  | $ 8,336,670,000 | $ 4,568,660,000
Number of Series |  | 52 | 42
Sequoia | Minimum | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Weighted Average Interest Rate |  | 2.67% | 2.67%
Sequoia | Maximum | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Weighted Average Interest Rate |  | 8.51% | 6.66%
CAFL | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Unpaid Principal Balance |  | $ 2,602,033,000 | $ 2,987,825,000
Fair Value |  | $ 2,568,074,000 | $ 2,879,913,000
Number of Series | series |  | 18 | 19
CAFL | Minimum | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Weighted Average Interest Rate |  | 2.74% | 2.69%
CAFL | Maximum | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Weighted Average Interest Rate |  | 7.89% | 7.89%
Freddie Mac SLST | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Unpaid Principal Balance |  | $ 1,092,540,000 | $ 1,147,111,000
Fair Value |  | $ 1,053,882,000 | $ 1,088,225,000
Weighted Average Interest Rate |  | 3.50% |
Number of Series | series |  | 2 | 2
Freddie Mac SLST | Minimum | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Weighted Average Interest Rate |  |  | 3.50%
Freddie Mac K-Series | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Unpaid Principal Balance |  | $ 395,982,000 | $ 402,400,000
Fair Value |  | $ 391,194,000 | $ 391,977,000
Weighted Average Interest Rate |  | 3.41% | 3.55%
Number of Series | series |  | 1 | 1
HEI | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Unpaid Principal Balance |  | $ 215,415,000 | $ 233,131,000
Fair Value |  | $ 214,209,000 | $ 222,488,000
Number of Series | series |  | 2 | 2
HEI | Minimum | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Weighted Average Interest Rate |  | 3.94% | 3.86%
HEI | Maximum | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Weighted Average Interest Rate |  | 6.71% | 6.70%
ABS Issued at Amortized Cost | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Unpaid Principal Balance |  | $ 458,161,000 | $ 666,546,000
Fair Value |  | 455,487,000 | 660,617,000
CAFL | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Unpaid Principal Balance |  | 302,184,000 | 485,000,000
Fair Value |  | $ 302,184,000 | $ 483,065,000
Number of Series | series |  | 2 | 2
CAFL | Minimum | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Weighted Average Interest Rate |  | 2.31% | 2.34%
CAFL | Maximum | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Weighted Average Interest Rate |  | 4.35% | 4.36%
Freddie Mac SLST | VIEs | Collateralized Financing Entities |  |  |
Debt Instrument [Line Items] |  |  |
Unpaid Principal Balance |  | $ 155,977,000 | $ 181,546,000
Fair Value |  | $ 153,303,000 | $ 177,552,000
Weighted Average Interest Rate |  | 7.50% | 7.50%
Number of Series | series |  | 1 | 1
[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 September 30, 2024 and December 31, 2023, assets of consolidated VIEs totaled $14,312,672 and $10,988,885, respectively. At September 30, 2024 and December 31, 2023, liabilities of consolidated VIEs totaled $13,354,497 and $10,096,308, respectively. See Note 15 for further discussion.

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