Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (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
Derivative assets	[1]	36,595	16,393
MSR Fair Value	[1]	118,526	191,976
Pledged collateral		42,875	53,600
Liabilities
Derivative liabilities	[1]	66,329	62,794
Commercial secured borrowings		0	63,152
Fair Value, Measurements, Recurring
Assets
Trading securities		445,687	404,011
Available-for-sale securities		572,752	829,245
Derivative assets		36,595	16,393
MSR Fair Value		118,526	191,976
Pledged collateral		42,875	53,600
FHLBC stock		43,393	34,437
Guarantee asset		4,092	5,697
Liabilities
Derivative liabilities		66,329	62,794
Commercial secured borrowings			63,152
ABS issued		773,462	996,820
Fair Value, Measurements, Recurring | Residential Loans
Assets
Residential loans		3,886,845	3,927,370
Fair Value, Measurements, Recurring | Commercial loans, at fair value
Assets
Residential loans			106,798
Fair Value, Measurements, Recurring | Level 1
Assets
Trading securities		0	0
Available-for-sale securities		0	0
Derivative assets		8,300	2,734
MSR Fair Value		0	0
Pledged collateral		42,875	53,600
FHLBC stock		0	0
Guarantee asset		0	0
Liabilities
Derivative liabilities		5,609	2,963
Commercial secured borrowings			0
ABS issued		0	0
Fair Value, Measurements, Recurring | Level 1 | Residential Loans
Assets
Residential loans		0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial loans, at fair value
Assets
Residential loans			0
Fair Value, Measurements, Recurring | Level 2
Assets
Trading securities		0	0
Available-for-sale securities		0	0
Derivative assets		24,980	8,988
MSR Fair Value		0	0
Pledged collateral		0	0
FHLBC stock		43,393	34,437
Guarantee asset		0	0
Liabilities
Derivative liabilities		56,919	58,368
Commercial secured borrowings			0
ABS issued		0	0
Fair Value, Measurements, Recurring | Level 2 | Residential Loans
Assets
Residential loans		0	129,819
Fair Value, Measurements, Recurring | Level 2 | Commercial loans, at fair value
Assets
Residential loans			0
Fair Value, Measurements, Recurring | Level 3
Assets
Trading securities		445,687	404,011
Available-for-sale securities		572,752	829,245
Derivative assets		3,315	4,671
MSR Fair Value		118,526	191,976
Pledged collateral		0	0
FHLBC stock		0	0
Guarantee asset		4,092	5,697
Liabilities
Derivative liabilities		3,801	1,463
Commercial secured borrowings			63,152
ABS issued		773,462	996,820
Fair Value, Measurements, Recurring | Level 3 | Residential Loans
Assets
Residential loans		$ 3,886,845	3,797,551
Fair Value, Measurements, Recurring | Level 3 | Commercial loans, at fair value
Assets
Residential loans			$ 106,798

[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.