Fair Value of Financial Instruments - Carrying Values and Estimated Fair Values of Assets and Liabilities (Details) - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
Assets
Trading securities		$ 445,687	$ 404,011
Available-for-sale securities		572,752	829,245
MSR Fair Value	[1]	118,526	191,976
Derivative assets	[1]	36,595	16,393
Pledged collateral		42,875	53,600
Liabilities
Derivative liabilities	[1]	66,329	62,794
Commercial Loans At Lower Of Cost Or Market
Assets
Loans, held-for-sale		3,000
Carrying Value
Assets
Trading securities		445,687	404,011
Available-for-sale securities		572,752	829,245
MSR Fair Value		118,526	191,976
Cash and cash equivalents		212,844	220,229
Restricted cash		8,623	5,567
Accrued interest receivable		18,454	23,290
Derivative assets		36,595	16,393
REO		5,533	4,896
Margin receivable		68,038	83,191
FHLBC stock		43,393	34,437
Guarantee asset		4,092	5,697
Pledged collateral		42,875	53,600
Liabilities
Short-term debt		791,539	1,855,003
Accrued interest payable		9,608	8,936
Available-for-sale securities		12,783	6,415
Guarantee obligation		21,668	22,704
Derivative liabilities		66,329	62,794
ABS issued, Fair value		773,462	996,820
ABS issued, Amortized cost		0	52,595
FHLBC long-term borrowings		1,999,999	1,343,023
Commercial secured borrowings		0	63,152
Convertible notes, net		482,195	483,119
Trust preferred securities and subordinated notes, net		138,489	138,443
Carrying Value | Commercial Loans Held-for-Investment, at Fair Value
Assets
Loans, held-for-investment		0	67,657
Carrying Value | Commercial Loans Held-for-Investment, at Amortized Cost
Assets
Loans, held-for-investment		0	295,849
Fair Value
Assets
Trading securities		445,687	404,011
Available-for-sale securities		572,752	829,245
MSR Fair Value		118,526	191,976
Cash and cash equivalents		212,844	220,229
Restricted cash		8,623	5,567
Accrued interest receivable		18,454	23,290
Derivative assets		36,595	16,393
REO		5,560	5,282
Margin receivable		68,038	83,191
FHLBC stock		43,393	34,437
Guarantee asset		4,092	5,697
Pledged collateral		42,875	53,600
Liabilities
Short-term debt		791,539	1,855,003
Accrued interest payable		9,608	8,936
Available-for-sale securities		12,783	6,415
Guarantee obligation		22,181	22,702
Derivative liabilities		66,329	62,794
ABS issued, Fair value		773,462	996,820
ABS issued, Amortized cost		0	53,137
FHLBC long-term borrowings		1,999,999	1,343,023
Commercial secured borrowings		0	63,152
Convertible notes, net		493,365	461,053
Trust preferred securities and subordinated notes, net		96,255	83,700
Fair Value | Commercial Loans At Lower Of Cost Or Market
Assets
Loans, held-for-sale		3,000
Fair Value | Commercial Loans Held-for-Investment, at Fair Value
Assets
Loans, held-for-investment		0	67,657
Fair Value | Commercial Loans Held-for-Investment, at Amortized Cost
Assets
Loans, held-for-investment		0	300,824
Residential Loans | Carrying Value | Residential Loans
Assets
Loans, held-for-sale		834,193	1,114,305
Residential Loans | Carrying Value | Residential loans, at lower of cost or fair value
Assets
Loans, held-for-sale		1,206	1,433
Residential Loans | Carrying Value | Residential Loans Held For Investment at Fair Value
Assets
Loans, held-for-investment		3,052,652	2,813,065
Residential Loans | Fair Value | Residential Loans
Assets
Loans, held-for-sale		834,193	1,114,305
Residential Loans | Fair Value | Residential loans, at lower of cost or fair value
Assets
Loans, held-for-sale		1,365	1,635
Residential Loans | Fair Value | Residential Loans Held For Investment at Fair Value
Assets
Loans, held-for-investment		3,052,652	2,813,065
Commercial loans | Commercial Loans Held For Sale
Assets
Loans, held-for-sale			39,141
Commercial loans | Commercial Loans At Lower Of Cost Or Market
Assets
Loans, held-for-sale		2,700	0
Commercial loans | Commercial Loans Held-for-Investment, at Fair Value
Assets
Loans, held-for-investment		0	67,657
Commercial loans | Commercial Loans Held-for-Investment, at Amortized Cost
Assets
Loans, held-for-investment		0	295,849
Commercial loans | Carrying Value | Commercial Loans Held For Sale
Assets
Loans, held-for-sale		0	39,141
Commercial loans | Carrying Value | Commercial Loans At Lower Of Cost Or Market
Assets
Loans, held-for-sale			0
Commercial loans | Fair Value | Commercial Loans Held For Sale
Assets
Loans, held-for-sale		0	39,141
Commercial loans | Fair Value | Commercial Loans At Lower Of Cost Or Market
Assets
Loans, held-for-sale		$ 2,700	$ 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 December 31, 2016 and December 31, 2015, assets of consolidated VIEs totaled $798,317 and $1,195,574, respectively. At December 31, 2016 and December 31, 2015, liabilities of consolidated VIEs totaled $773,980 and $1,050,861, respectively. See Note 4 for further discussion.