Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands		Jun. 30, 2025		Dec. 31, 2024		Jun. 30, 2024
Assets
Strategic investments		$ 3,460		$ 3,460
Derivative assets	[1]	219,797		46,003
Total Assets		21,333,020	[1]	18,258,344	[1]	$ 16,491,104
Liabilities
ABS issued		15,714,392		12,879,530
Derivative liabilities	[1]	68,826		23,660
Total liabilities	[1]	20,279,557		17,070,481
Level 3
Assets
Total Assets		20,106,330
Liabilities
Total liabilities		15,842,004
Fair Value, Measurements, Recurring
Assets
Residential investor loans		4,313,935		4,587,090
Consolidated Agency multifamily loans		423,097		424,597
HEI		587,636		589,785
Trading		150,498		193,749
AFS		114,499		211,474
Servicing investments		298,004		297,683
Strategic investments		3,460		3,460
Derivative assets		219,797		46,003
Total Assets		20,312,819		17,431,664
Liabilities
ABS issued		15,714,392		12,879,530
Derivative liabilities		68,826		23,660
Non-controlling interest		127,612		99,510
Total liabilities		15,910,830		13,002,700
Fair Value, Measurements, Recurring | Level 1
Assets
Residential investor loans		0		0
Consolidated Agency multifamily loans		0		0
HEI		0		0
Trading		0		0
AFS		0		0
Servicing investments		0		0
Strategic investments		0		0
Derivative assets		81,125		16,446
Total Assets		81,125		16,446
Liabilities
ABS issued		0		0
Derivative liabilities		57,461		23,164
Non-controlling interest		0		0
Total liabilities		57,461		23,164
Fair Value, Measurements, Recurring | Level 2
Assets
Residential investor loans		0		0
Consolidated Agency multifamily loans		0		0
HEI		0		0
Trading		0		0
AFS		0		0
Servicing investments		0		0
Strategic investments		0		0
Derivative assets		124,518		23,738
Total Assets		124,518		23,738
Liabilities
ABS issued		0		0
Derivative liabilities		10,519		0
Non-controlling interest		0		0
Total liabilities		10,519		0
Fair Value, Measurements, Recurring | Level 3
Assets
Residential investor loans		4,313,935		4,587,090
Consolidated Agency multifamily loans		423,097		424,597
HEI		587,636		589,785
Trading		150,498		193,749
AFS		114,499		211,474
Servicing investments		298,004		297,683
Strategic investments		3,460		3,460
Derivative assets		14,154		5,819
Total Assets		20,107,176		17,391,480
Liabilities
ABS issued		15,714,392		12,879,530
Derivative liabilities		846		496
Non-controlling interest		127,612		99,510
Total liabilities		15,842,850		12,979,536
Fair Value, Measurements, Recurring | Residential Consumer Loans
Assets
Residential consumer loans		14,201,893		11,077,823
Fair Value, Measurements, Recurring | Residential Consumer Loans | Level 1
Assets
Residential consumer loans		0		0
Fair Value, Measurements, Recurring | Residential Consumer Loans | Level 2
Assets
Residential consumer loans		0		0
Fair Value, Measurements, Recurring | Residential Consumer Loans | Level 3
Assets
Residential consumer loans		$ 14,201,893		$ 11,077,823

[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 June 30, 2025 and December 31, 2024, assets of consolidated VIEs totaled $17,484,443 and $14,654,942, respectively. At June 30, 2025 and December 31, 2024, liabilities of consolidated VIEs totaled $16,386,516 and $13,620,239, respectively. See Note 16 for further discussion.