Summary of Significant Accounting Policies - Effect of ASU 2014-13 on Balance Sheet (Details) - USD ($) $ in Thousands		Dec. 31, 2014	Jun. 30, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative adjustment - adoption of ASU 2014-13	[1]	$ 9,728
Residential loans		3,398,573	$ 3,286,480
Other assets	[2]	113,896	147,620
Total Assets	[2]	5,918,966	5,595,884
ABS issued principal	[2],[3]	1,545,119	1,262,122
Total liabilities	[2]	4,662,825	4,331,100
Residential Loans Held for Investment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loan Principal		1,483,213	1,343,333
Residential loans		1,474,386	$ 1,237,114
Variable Interest Entity, Primary Beneficiary
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loan Principal		1,486,000
Loan unamortized premium		0
Allowance for loan losses		0
Loan market valuation adjustment		(113,000)
Deferred bond issuance costs		0
Other assets		5,000
Total Assets		1,377,000
ABS issued principal		1,428,000
ABS issued unamortized discount		0
Asset Backed Securities, Valuation Adjustment		(125,000)
Total liabilities		1,303,000
Redwood's investment in consolidated Sequoia entities		74,000
Variable Interest Entity, Primary Beneficiary | Residential Loans Held for Investment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Residential loans		1,373,000
Variable Interest Entity, Primary Beneficiary | Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loan Principal		1,486,000
Loan unamortized premium		13,000
Allowance for loan losses		(21,000)
Deferred bond issuance costs		1,000
Other assets		5,000
Total Assets		1,482,000
ABS issued principal		1,428,000
ABS issued unamortized discount		(10,000)
Total liabilities		1,418,000
Redwood's investment in consolidated Sequoia entities		64,000
Variable Interest Entity, Primary Beneficiary | Previously Reported | Residential Loans Held for Investment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Residential loans		1,478,000
Variable Interest Entity, Primary Beneficiary | Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loan market valuation adjustment		0
Asset Backed Securities, Valuation Adjustment		0
Accounting Standards Update 2014-13 | Variable Interest Entity, Primary Beneficiary | Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loan Principal		0
Loan unamortized premium		(13,000)
Allowance for loan losses		21,000
Loan market valuation adjustment		(113,000)
Deferred bond issuance costs		(1,000)
Other assets		0
Total Assets		(105,000)
ABS issued principal		0
ABS issued unamortized discount		10,000
Asset Backed Securities, Valuation Adjustment		(125,000)
Total liabilities		(115,000)
Redwood's investment in consolidated Sequoia entities		10,000
Accounting Standards Update 2014-13 | Variable Interest Entity, Primary Beneficiary | Restatement Adjustment | Residential Loans Held for Investment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Residential loans		(105,000)
Retained Earnings | Accounting Standards Update 2014-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative adjustment - adoption of ASU 2014-13	[1]	$ 9,728

[1] On January 1, 2015, we adopted ASU 2014-13. See Note 3 for further discussion.

[2] 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 the primary beneficiary (Redwood Trust, Inc.). At June 30, 2015 and December 31, 2014, assets of consolidated VIEs totaled $1,622,636 and $1,900,208, respectively, and liabilities of consolidated VIEs totaled $1,263,249 and $1,546,490, respectively. See Note 4 for further discussion.

[3] On January 1, 2015, we adopted ASU 2014-13 and began to account for residential loans held-for-investment and asset backed securities issued at consolidated Sequoia entities (which are VIEs) at fair value. At December 31, 2014, amounts presented in residential loans held-for-investment for these assets included $1,474,386 at historical cost. See Note 3 for further discussion.