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Commitments and Contingencies (Details)
$ in Thousands
 3 Months Ended 9 Months Ended 18 Months Ended
Sep. 30, 2024
USD ($)
lease
Mar. 31, 2024
USD ($)
Jun. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
lease
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
lease
Dec. 31, 2023
USD ($)
Loss Contingencies [Line Items]              
Lessee, number of leases | lease 8     8   8  
Present value of remaining lease payments $ 13,000     $ 13,000   $ 13,000  
Operating lease expense       $ 4,000 $ 4,000    
Lessee, number of office leases | lease 1     1   1  
Aggregate total lease payments $ 3,000     $ 3,000   $ 3,000  
Operating lease liabilities $ 11,707     $ 11,707   $ 11,707 $ 14,725
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 $ 9,759     $ 9,759   $ 9,759 12,532
Operating lease right-of-use asset, statement of financial position [Extensible List] Other assets     Other assets   Other assets  
Derivative liabilities [1] $ 7,977     $ 7,977   $ 7,977 $ 33,828
Gain (loss) on market valuation adjustments       $ 103,936 $ 1,275    
Minimum              
Loss Contingencies [Line Items]              
Term of lease, not yet commenced 1 year     1 year   1 year  
Maximum              
Loss Contingencies [Line Items]              
Term of lease, not yet commenced 5 years     5 years   5 years  
CPP Joint Venture, Residential Investor Bridge and Term Loans              
Loss Contingencies [Line Items]              
Amount committed   $ 100,000          
Capital contribution       $ 15,000      
Oaktree Joint Venture, Residential Investor Bridge and Term Loans              
Loss Contingencies [Line Items]              
Amount committed     $ 19,000        
Capital contribution           $ 5,000  
Commitment To Fund Residential Investor Bridge Loan              
Loss Contingencies [Line Items]              
Commitment to fund loan $ 429,000     429,000   429,000  
Derivative liabilities 1,000     1,000   $ 1,000  
Gain (loss) on market valuation adjustments $ 500     $ (1,000)      
[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 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.