Real Estate Securities - Fair Values of Real Estate Securities (Details) - USD ($) $ in Thousands		Sep. 30, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Trading		$ 1,013,785	$ 1,118,612
Available-for-sale		271,641	333,882
Total Real Estate Securities	[1]	$ 1,285,426	$ 1,452,494

[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, 2019 and December 31, 2018, assets of consolidated VIEs totaled $9,596,537 and $6,331,191, respectively. At September 30, 2019 and December 31, 2018, liabilities of consolidated VIEs totaled $8,582,595 and $5,709,807, respectively. See Note 4 for further discussion.