Fair Value of Financial Instruments - Carrying Values and Estimated Fair Values of Assets and Liabilities (Detail) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Assets
Trading securities		$ 116,141	$ 111,606
Available-for-sale securities		1,041,458	1,267,624
MSRs	[1]	168,462	139,293
Derivative assets	[1]	26,252	16,417
Pledged collateral		10,194	9,927
Liabilities
Derivative liabilities	[1]	54,109	58,331
Long/Other Long-term debt		65,232	66,707
Carrying Value
Assets
Trading securities		116,141	111,606
Available-for-sale securities		1,041,458	1,267,624
MSRs		168,462	139,293
Cash and cash equivalents		226,426	269,730
Restricted cash		2,389	628
Accrued interest receivable		16,151	18,222
Derivative assets		26,252	16,417
REO		4,410	4,391
Margin receivable		71,392	65,374
FHLBC stock		30,001	10,688
Guarantees asset		6,417	7,201
Pledged collateral		10,194	9,927
Liabilities
Short-term debt		1,367,062	1,793,825
Accrued interest payable		8,291	8,502
Guarantee obligation		6,146	7,201
Derivative liabilities		54,109	58,331
ABS issued, Fair value		1,173,336	0
ABS issued, Amortized cost		88,786	1,545,119
FHLBC Borrowings		882,122	495,860
Convertible notes		492,500	492,500
Long/Other Long-term debt		139,500	139,500
Carrying Value | Residential Loans at Fair Value
Assets
Loans, held-for-sale		890,623	1,341,032
Carrying Value | Residential Loans at Lower of Cost or Fair Value
Assets
Loans, held-for-sale		1,458	1,488
Carrying Value | Residential Loans Held For Investment at Fair Value
Assets
Loans, held-for-investment		2,394,399	581,668
Carrying Value | Residential Loans Held For Investment At Amortized Cost
Assets
Loans, held-for-investment		0	1,474,386
Carrying Value | Commercial Loans at Fair Value
Assets
Loans, held-for-sale		165,853	166,234
Carrying Value | Commercial Loans Held For Investment
Assets
Loans, held-for-investment		69,763	71,262
Carrying Value | Commercial Loans Held-for-Investment, at Amortized Cost
Assets
Loans, held-for-investment		315,715	329,431
Carrying Value | Commercial Secured Borrowings
Liabilities
Long/Other Long-term debt		65,232	66,707
Fair Value
Assets
Trading securities		116,141	111,606
Available-for-sale securities		1,041,458	1,267,624
MSRs		168,462	139,293
Cash and cash equivalents		226,426	269,730
Restricted cash		2,389	628
Accrued interest receivable		16,151	18,222
Derivative assets		26,252	16,417
REO		5,081	4,703
Margin receivable		71,392	65,374
FHLBC stock		30,001	10,688
Guarantees asset		6,417	7,201
Pledged collateral		10,194	9,927
Liabilities
Short-term debt		1,367,062	1,793,825
Accrued interest payable		8,291	8,502
Guarantee obligation		6,417	7,201
Derivative liabilities		54,109	58,331
ABS issued, Fair value		1,173,336	0
ABS issued, Amortized cost		89,231	1,446,605
FHLBC Borrowings		882,122	495,860
Convertible notes		475,700	492,188
Long/Other Long-term debt		101,138	101,835
Fair Value | Residential Loans at Fair Value
Assets
Loans, held-for-sale		890,623	1,341,032
Fair Value | Residential Loans at Lower of Cost or Fair Value
Assets
Loans, held-for-sale		1,655	1,669
Fair Value | Residential Loans Held For Investment at Fair Value
Assets
Loans, held-for-investment		2,394,399	581,668
Fair Value | Residential Loans Held For Investment At Amortized Cost
Assets
Loans, held-for-investment		0	1,381,918
Fair Value | Commercial Loans at Fair Value
Assets
Loans, held-for-sale		165,853	166,234
Fair Value | Commercial Loans Held For Investment
Assets
Loans, held-for-investment		69,763	71,262
Fair Value | Commercial Loans Held-for-Investment, at Amortized Cost
Assets
Loans, held-for-investment		321,038	334,876
Fair Value | Commercial Secured Borrowings
Liabilities
Long/Other Long-term debt		$ 65,232	$ 66,707

[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 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.