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Asset-Backed Securities Issued - Narrative (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended |  |
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May 31, 2040 | Nov. 30, 2031 | Aug. 31, 2027 | Apr. 30, 2027 | Jan. 31, 2027 | Apr. 30, 2025 | Feb. 28, 2025 | Sep. 30, 2025 | Sep. 30, 2025 | Dec. 31, 2024 | Sep. 30, 2024 | [2]
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AFS |  |  |  |  |  |  |  |  | $ 284,372 |  | $ 284,372 |  | $ 211,474 |  |
Carrying value of collateral |  |  |  |  |  |  |  |  | 4,447,941 |  | 4,447,941 |  | 3,701,592 |  |
Principal Amount |  |  |  |  |  |  |  |  | 4,373,768 |  | 4,373,768 |  | 3,482,175 |  |
Restricted cash |  |  |  |  |  |  |  |  | 103,868 | [1],[2] | 103,868 | [1],[2] | 67,762 | [1] | $ 72,294
Other assets | [1] |  |  |  |  |  |  |  | 398,488 |  | 398,488 |  | 415,717 |  |
Sequoia Re-securitization Trust |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AFS |  |  |  |  |  |  |  |  | $ 187,000 |  | $ 187,000 |  | $ 79,000 |  |
VIEs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VIE, ownership interest rate (as a percent) |  |  |  |  |  |  |  |  |  |  | 80.00% |  |  |  |
VIEs | Sequoia Re-securitization Trust |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt instrument, interest rate (as a percent) |  |  |  |  |  |  |  |  | 8.50% |  | 8.50% |  |  |  |
Debt instrument repaid |  |  |  |  |  |  |  |  |  |  | $ 190,000 |  |  |  |
Asset-backed securities issued | CoreVest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Principal Amount |  |  |  |  |  |  |  |  | $ 284,000 |  | 284,000 |  |  |  |
Bridge loan |  |  |  |  |  |  |  |  | 280,000 |  | 280,000 |  |  |  |
Restricted cash |  |  |  |  |  |  |  |  | 16,000 |  | 16,000 |  |  |  |
Other assets |  |  |  |  |  |  |  |  | 20,000 |  | 20,000 |  |  |  |
Securitized asset backed securities, borrowing capacity |  |  |  |  |  |  |  |  | $ 300,000 |  | $ 300,000 |  |  |  |
Re-investment transaction period |  |  |  |  |  |  |  |  |  |  | 24 months |  |  |  |
Asset-backed securities issued | VIEs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contractual maturities of ABS (in years) |  |  |  |  |  |  |  |  |  |  | 5 years |  |  |  |
Asset-backed securities issued | VIEs | CoreVest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt instrument, interest rate (as a percent) |  |  |  |  |  |  |  |  | 6.20% |  | 6.20% |  |  |  |
Principal Amount |  |  |  |  |  |  |  |  | $ 285,000 |  | $ 285,000 |  |  |  |
Asset-backed securities issued | VIEs | Forecast |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Increase in interest rate (as a percent) |  | 1.00% | 1.50% |  |  |  |  |  |  |  |  |  |  |  |
Sequoia securities | VIEs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ABS issued, at amortized cost |  |  |  |  |  |  |  | $ 100,000 |  |  |  |  |  |  |
Debt instrument, interest rate (as a percent) |  |  |  |  |  |  |  | 8.50% |  |  |  |  |  |  |
Sequoia securities | VIEs | Q3 Subordinate Securities Transfer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ABS issued, at amortized cost |  |  |  |  |  |  |  |  | $ 250,000 |  |  |  |  |  |
Debt instrument, interest rate (as a percent) |  |  |  |  |  |  |  |  | 6.40% |  | 6.40% |  |  |  |
VIE, ownership interest rate (as a percent) |  |  |  |  |  |  |  | 100.00% |  |  |  |  |  |  |
Carrying value of collateral |  |  |  |  |  |  |  |  | $ 155,000 |  | $ 155,000 |  |  |  |
Sequoia securities | VIEs | Q2 2025 Subordinate Securities Transfer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ABS issued, at amortized cost |  |  |  |  |  |  | $ 109,000 |  |  |  |  |  |  |  |
Debt instrument, interest rate (as a percent) |  |  |  |  |  |  | 8.00% |  |  |  |  |  |  |  |
VIE, ownership interest rate (as a percent) |  |  |  |  |  |  |  | 100.00% |  |  |  |  |  |  |
Sequoia securities | VIEs | Forecast |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Increase in interest rate (as a percent) |  |  |  |  |  | 11.50% |  |  |  |  |  |  |  |  |
Sequoia securities | VIEs | Forecast | Q3 Subordinate Securities Transfer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Increase in interest rate (as a percent) |  |  |  | 3.00% |  |  |  |  |  |  |  |  |  |  |
Sequoia securities | VIEs | Forecast | Q2 2025 Subordinate Securities Transfer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Increase in interest rate (as a percent) |  |  |  |  | 11.00% |  |  |  |  |  |  |  |  |  |
Other | VIEs | Sequoia Re-securitization Trust | Q3 Subordinate Securities Transfer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AFS |  |  |  |  |  |  |  |  | 166,000 |  | 166,000 |  |  |  |
Other | VIEs | Sequoia Re-securitization Trust | Q2 2025 Subordinate Securities Transfer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AFS |  |  |  |  |  |  |  |  | 2,000 |  | 2,000 |  |  |  |
Sequoia Securitization Trusts | VIEs | Q2 2025 Subordinate Securities Transfer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of collateral |  |  |  |  |  |  |  |  | 147,000 |  | 147,000 |  |  |  |
Sequoia Securitization Trusts | VIEs | Sequoia securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carrying value of collateral |  |  |  |  |  |  |  |  | 85,000 |  | 85,000 |  |  |  |
Sequoia Securities Owned From Trust | VIEs | Sequoia Re-securitization Trust |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AFS |  |  |  |  |  |  |  |  | $ 20,000 |  | $ 20,000 |  |  |  |
[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, 2025 and December 31, 2024, assets of consolidated VIEs totaled $18,284,133 and $14,654,942, respectively. At September 30, 2025 and December 31, 2024, liabilities of consolidated VIEs totaled $17,164,811 and $13,620,239, respectively. See Note 16 for further discussion.
[2] | Restricted cash primarily includes cash held at our consolidated Servicing Investment entities, and cash associated with our risk-sharing transactions, as well as cash collateral for certain consolidated securitization entities.

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