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Segment Information - Schedule of Business Segment Financial Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
 [1]
Segment Reporting Information [Line Items]          
Interest income $ 248,643 $ 177,074 $ 678,800 $ 534,571  
Interest expense (223,145) (156,723) (603,799) (461,687)  
Net interest income (expense) 25,498 20,351 75,001 72,884  
Non-interest income (loss)          
Mortgage banking activities, net 39,569 19,440 73,049 52,663  
Investment fair value changes, net (12,202) (41,689) 10,733 (59,598)  
HEI income, net 10,651 10,259 35,521 23,445  
Other income, net 5,995 2,346 16,794 11,060  
Realized gains, net 211 50 620 1,104  
Total non-interest income (loss), net 44,224 (9,594) 136,717 28,674  
General and administrative expenses (36,008) (29,697) (103,861) (96,057)  
Portfolio management costs (6,356) (3,661) (14,817) (10,271)  
Loan acquisition costs (3,176) (1,880) (9,077) (4,613)  
Other expenses (2,228) (4,633) (10,766) (13,292)  
(Provision for) benefit from income taxes (7,128) (1,696) (12,575) (642)  
Net Income (Loss) 14,826 (30,810) 60,622 (23,317)  
Non-cash amortization (expense), net (4,540) (7,346) (18,677) (23,563)  
Total Assets 18,427,426 [1] 13,021,138 18,427,426 [1] 13,021,138 $ 14,504,327
Operating Segments | Residential Consumer Mortgage Banking          
Segment Reporting Information [Line Items]          
Interest income 26,318 6,063 61,728 14,007  
Interest expense (16,770) (4,826) (34,958) (13,392)  
Net interest income (expense) 9,548 1,237 26,770 615  
Non-interest income (loss)          
Mortgage banking activities, net 26,715 8,964 40,787 19,390  
Investment fair value changes, net 0 0 0 1,076  
HEI income, net 0 0 0 0  
Other income, net 0 0 0 0  
Realized gains, net 0 0 0 0  
Total non-interest income (loss), net 26,715 8,964 40,787 20,466  
General and administrative expenses (5,240) (4,521) (14,986) (13,065)  
Portfolio management costs 0 0 0 0  
Loan acquisition costs (1,291) (395) (2,843) (719)  
Other expenses 0 0 0 0  
(Provision for) benefit from income taxes (6,977) (813) (10,031) (887)  
Net Income (Loss) 22,755 4,472 39,697 6,410  
Non-cash amortization (expense), net (271) (266) (868) (813)  
Total Assets 1,543,380 659,520 1,543,380 659,520  
Operating Segments | Residential Investor Mortgage Banking          
Segment Reporting Information [Line Items]          
Interest income 4,868 4,618 15,647 13,509  
Interest expense (3,099) (3,888) (11,480) (11,599)  
Net interest income (expense) 1,769 730 4,167 1,910  
Non-interest income (loss)          
Mortgage banking activities, net 12,854 10,476 32,262 33,273  
Investment fair value changes, net 0 0 0 0  
HEI income, net 0 0 0 0  
Other income, net 5,434 1,278 7,233 4,762  
Realized gains, net 0 0 0 0  
Total non-interest income (loss), net 18,288 11,754 39,495 38,035  
General and administrative expenses (9,306) (9,402) (30,407) (34,718)  
Portfolio management costs 0 0 0 0  
Loan acquisition costs (1,885) (1,485) (5,982) (3,894)  
Other expenses (2,202) (3,108) (7,210) (9,323)  
(Provision for) benefit from income taxes (981) 318 706 2,427  
Net Income (Loss) 5,683 (1,193) 769 (5,563)  
Non-cash amortization (expense), net (2,422) (3,294) (7,921) (10,291)  
Total Assets 357,432 197,974 357,432 197,974  
Operating Segments | Investment Portfolio          
Segment Reporting Information [Line Items]          
Interest income 217,057 164,847 598,696 500,393  
Interest expense (184,319) (133,790) (506,429) (392,260)  
Net interest income (expense) 32,738 31,057 92,267 108,133  
Non-interest income (loss)          
Mortgage banking activities, net 0 0 0 0  
Investment fair value changes, net (11,966) (41,789) 11,770 (57,930)  
HEI income, net 10,651 10,259 35,521 23,445  
Other income, net 426 2,622 10,371 8,803  
Realized gains, net 211 26 525 858  
Total non-interest income (loss), net (678) (28,882) 58,187 (24,824)  
General and administrative expenses (701) (1,340) (3,517) (3,990)  
Portfolio management costs (6,324) (3,636) (14,746) (10,233)  
Loan acquisition costs 0 0 (244) 0  
Other expenses (26) (1,525) (3,556) (3,969)  
(Provision for) benefit from income taxes 606 (1,457) (3,454) (3,135)  
Net Income (Loss) 25,615 (5,783) 124,937 61,982  
Non-cash amortization (expense), net 1,016 (1,687) (2,204) (6,167)  
Total Assets 16,151,156 11,701,939 16,151,156 11,701,939  
Corporate/ Other          
Segment Reporting Information [Line Items]          
Interest income 400 1,546 2,729 6,662  
Interest expense (18,957) (14,219) (50,932) (44,436)  
Net interest income (expense) (18,557) (12,673) (48,203) (37,774)  
Non-interest income (loss)          
Mortgage banking activities, net 0 0 0 0  
Investment fair value changes, net (236) 100 (1,037) (2,744)  
HEI income, net 0 0 0 0  
Other income, net 135 (1,554) (810) (2,505)  
Realized gains, net 0 24 95 246  
Total non-interest income (loss), net (101) (1,430) (1,752) (5,003)  
General and administrative expenses (20,761) (14,434) (54,951) (44,284)  
Portfolio management costs (32) (25) (71) (38)  
Loan acquisition costs 0 0 (8) 0  
Other expenses 0 0 0 0  
(Provision for) benefit from income taxes 224 256 204 953  
Net Income (Loss) (39,227) (28,306) (104,781) (86,146)  
Non-cash amortization (expense), net (2,863) (2,099) (7,684) (6,292)  
Total Assets $ 375,458 $ 461,705 $ 375,458 $ 461,705  
[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.