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Principles of Consolidation - Schedule of Assets and Liabilities of Consolidated VIEs (Details)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
USD ($)
Investment
securitization_entity
Dec. 31, 2023
USD ($)
Investment
Sep. 30, 2023
USD ($)
Variable Interest Entity [Line Items]      
Home equity investments [1] $ 590,080 $ 550,436  
Other investments [1] 341,637 343,930  
Cash and cash equivalents 253,673 [1] 293,104 [1] $ 203,622
Accrued interest receivable 103,035 69,072  
Other assets [1] 427,687 402,944  
Total Assets 18,427,426 [1] 14,504,327 [1] $ 13,021,138
Accrued interest payable 74,097 52,755  
Accrued expenses and other liabilities [1] 375,487 216,803  
Asset-backed securities issued [1] 13,019,516 9,811,880  
Total liabilities [1] $ 17,204,426 13,301,634  
Securitization entity | securitization_entity 2    
Available-for-sale $ 205,361 87,373  
Residential investor term loans held by CAFL      
Variable Interest Entity [Line Items]      
Fair value of securities owned 339,000 323,000  
At consolidated CAFL Bridge entities      
Variable Interest Entity [Line Items]      
Fair value of securities owned 26,000 22,000  
Freddie Mac SLST      
Variable Interest Entity [Line Items]      
Fair value of securities owned 268,000 274,000  
Consolidated Sequoia Securitizations      
Variable Interest Entity [Line Items]      
Fair value of securities owned 332,000    
Available-for-sale 194,000    
VIEs      
Variable Interest Entity [Line Items]      
Total Assets 14,312,672 10,988,885  
Total liabilities 13,354,497 10,096,308  
VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Home equity investments 334,559 305,717  
Other investments 241,885 257,489  
Cash and cash equivalents 24,632 9,482  
Restricted cash 37,241 44,905  
Accrued interest receivable 64,399 47,798  
Other assets 37,054 24,443  
Total Assets 14,312,672 10,988,885  
Short-term debt 155,986 153,653  
Accrued interest payable 50,193 33,932  
Accrued expenses and other liabilities 128,803 96,843  
Asset-backed securities issued 13,019,515 9,811,880  
Total liabilities 13,354,497 10,096,308  
Value of our investments in VIEs $ 952,181 $ 885,770  
Number of VIEs | Investment 82 72  
Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans $ 9,794,810 $ 6,139,445  
Residential investor loans, held-for-investment      
Variable Interest Entity [Line Items]      
Fair value of loans [1] 4,480,296 5,040,048  
Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 3,269,215 3,734,321  
Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 425,648 425,285  
Real estate securities | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 83,229    
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 145 163  
Accrued interest receivable 39,461 20,029  
Other assets 0 0  
Total Assets 8,598,839 4,800,395  
Short-term debt 0 0  
Accrued interest payable 35,096 16,293  
Accrued expenses and other liabilities 1,263 0  
Asset-backed securities issued 8,336,670 4,568,660  
Total liabilities 8,373,029 4,584,953  
Value of our investments in VIEs $ 222,631 $ 211,638  
Number of VIEs | Investment 52 42  
Sequoia | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans $ 8,476,004 $ 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  
Sequoia | Real estate securities | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 83,229    
Residential investor term loans held by 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 16,838 33,921  
Accrued interest receivable 18,328 20,806  
Other assets 25,440 14,886  
Total Assets 3,329,821 3,803,934  
Short-term debt 0 0  
Accrued interest payable 9,455 11,537  
Accrued expenses and other liabilities 7,683 2,734  
Asset-backed securities issued 2,870,257 3,362,978  
Total liabilities 2,887,395 3,377,249  
Value of our investments in VIEs $ 440,160 $ 424,136  
Number of VIEs | Investment 21 21  
Residential investor term loans held by CAFL | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans $ 0 $ 0  
Residential investor term loans held by CAFL | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 3,269,215 3,734,321  
Residential investor term loans held by CAFL | Consolidated Agency multifamily loans | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 0 0  
Residential investor term loans held by CAFL | Real estate securities | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 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 4,584 4,821  
Other assets 2,843 3,158  
Total Assets 1,326,233 1,367,221  
Short-term debt 0 0  
Accrued interest payable 4,161 4,496  
Accrued expenses and other liabilities 0 0  
Asset-backed securities issued 1,207,186 1,265,777  
Total liabilities 1,211,347 1,270,273  
Value of our investments in VIEs $ 114,463 $ 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 $ 1,318,806 $ 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 SLST | Real estate securities | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 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 1,251 1,320  
Other assets 0 0  
Total Assets 426,899 426,605  
Short-term debt 0 0  
Accrued interest payable 1,125 1,190  
Accrued expenses and other liabilities 0 0  
Asset-backed securities issued 391,193 391,977  
Total liabilities 392,318 393,167  
Value of our investments in VIEs $ 34,455 $ 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 425,648 425,285  
Freddie Mac K-Series | Real estate securities | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 0    
Servicing Investment | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Home equity investments 0 0  
Other investments 241,885 257,489  
Cash and cash equivalents 24,632 9,482  
Restricted cash 14,011 0  
Accrued interest receivable 775 822  
Other assets 8,357 6,337  
Total Assets 289,660 274,130  
Short-term debt 155,986 153,653  
Accrued interest payable 356 416  
Accrued expenses and other liabilities 38,994 34,357  
Asset-backed securities issued 0 0  
Total liabilities 195,336 188,426  
Value of our investments in VIEs $ 94,324 $ 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  
Servicing Investment | Real estate securities | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans 0    
HEI | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Home equity investments 334,559 305,717  
Other investments 0 0  
Cash and cash equivalents 0 0  
Restricted cash 6,247 10,821  
Accrued interest receivable 0 0  
Other assets 414 62  
Total Assets 341,220 316,600  
Short-term debt 0 0  
Accrued interest payable 0 0  
Accrued expenses and other liabilities 80,863 59,752  
Asset-backed securities issued 214,209 222,488  
Total liabilities 295,072 282,240  
Value of our investments in VIEs $ 46,148 $ 34,361  
Number of VIEs | Investment 2 2  
Fair value of securities owned $ 46,000    
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  
HEI | Real estate securities | VIEs | Collateralized Financing Entities      
Variable Interest Entity [Line Items]      
Fair value of loans $ 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 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.