Principles of Consolidation - Summary of Redwood's Interest in Third-Party Variable Interest Entity's (Details) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Real estate securities	[1]	$ 351,335	$ 1,099,874
Variable Interest Entity, Not Primary Beneficiary | Other assets
Variable Interest Entity [Line Items]
Real estate securities		222,531	887,015
Variable Interest Entity, Not Primary Beneficiary | Other assets | Senior
Variable Interest Entity [Line Items]
Real estate securities		11,865	127,094
Variable Interest Entity, Not Primary Beneficiary | Other assets | Mezzanine
Variable Interest Entity [Line Items]
Real estate securities		2,016	508,195
Variable Interest Entity, Not Primary Beneficiary | Other assets | Subordinate
Variable Interest Entity [Line Items]
Real estate securities		193,445	235,510
Variable Interest Entity, Not Primary Beneficiary | Other assets | Total Mortgage-Backed Securities
Variable Interest Entity [Line Items]
Real estate securities		207,326	870,799
Variable Interest Entity, Not Primary Beneficiary | Other assets | Excess MSR
Variable Interest Entity [Line Items]
Real estate securities		$ 15,205	$ 16,216

[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, 2020 and December 31, 2019, assets of consolidated VIEs totaled $8,197,095 and $11,931,869, respectively. At September 30, 2020 and December 31, 2019, liabilities of consolidated VIEs totaled $7,238,047 and $10,717,072, respectively. See Note 4 for further discussion.