Principles of Consolidation - Assets and Liabilities of Consolidated Variable Interest Entities Accounted for as Collateralized Financing Entities (Details) $ in Thousands		Mar. 31, 2024 USD ($) Investment		Dec. 31, 2023 USD ($) Investment		Mar. 31, 2023 USD ($)
Variable Interest Entity [Line Items]
Home equity investments	[1]	$ 560,745		$ 550,436
Other investments	[1]	337,345		343,930
Cash and cash equivalents		275,394	[1]	293,104	[1]	$ 404,000
Accrued interest receivable		79,491		69,072
Other assets	[1]	333,631		351,109
Total Assets	[1]	15,057,974		14,504,327
Short-term debt	[1]	1,251,444		1,558,222
Accrued interest payable		60,925		52,755
Accrued expenses and other liabilities	[1]	241,191		216,803
Asset-backed securities issued	[1]	10,628,189		9,811,880
Total liabilities	[1]	13,833,811		13,301,634
CAFL
Variable Interest Entity [Line Items]
Fair value of securities owned		333,000		323,000
CAFL Bridge Loan Securitization
Variable Interest Entity [Line Items]
Fair value of securities owned		21,000		22,000
Freddie Mac SLST
Variable Interest Entity [Line Items]
Fair value of securities owned		271,000		274,000
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Total Assets		11,850,461		10,988,885
Total liabilities		10,921,862		10,096,308
Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Home equity investments		314,184		305,717
Other investments		247,308		257,489
Cash and cash equivalents		16,902		9,482
Restricted cash		33,904		44,905
Accrued interest receivable		53,786		47,798
Other assets		41,493		24,443
Total Assets		11,850,461		10,988,885
Short-term debt		147,342		153,653
Accrued interest payable		38,335		33,932
Accrued expenses and other liabilities		107,996		96,843
Asset-backed securities issued		10,628,189		9,811,880
Total liabilities		10,921,862		10,096,308
Value of our investments in VIEs		$ 922,350		$ 885,770
Number of VIEs | Investment		75		72
Residential consumer loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		$ 7,104,886		$ 6,139,445
Residential investor loans, held-for-investment
Variable Interest Entity [Line Items]
Fair value of loans	[1]	4,901,443		5,040,048
Residential investor loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		3,615,210		3,734,321
Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		422,788		425,285
Legacy Sequoia | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Home equity investments		0		0
Other investments		0		0
Cash and cash equivalents		0		0
Restricted cash		70		68
Accrued interest receivable		310		332
Other assets		0		0
Total Assets		132,239		140,139
Short-term debt		0		0
Accrued interest payable		283		303
Accrued expenses and other liabilities		0		0
Asset-backed securities issued		130,875		138,530
Total liabilities		131,158		138,833
Value of our investments in VIEs		$ 984		$ 1,209
Number of VIEs | Investment		20		20
Legacy Sequoia | Residential consumer loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		$ 131,859		$ 139,739
Legacy Sequoia | Residential investor loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		0		0
Legacy Sequoia | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		0		0
Sequoia | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Home equity investments		0		0
Other investments		0		0
Cash and cash equivalents		0		0
Restricted cash		94		95
Accrued interest receivable		24,520		19,697
Other assets		0		0
Total Assets		5,664,955		4,660,256
Short-term debt		0		0
Accrued interest payable		21,428		15,990
Accrued expenses and other liabilities		0		0
Asset-backed securities issued		5,423,137		4,430,130
Total liabilities		5,444,565		4,446,120
Value of our investments in VIEs		$ 217,299		$ 210,429
Number of VIEs | Investment		25		22
Sequoia | Residential consumer loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		$ 5,640,341		$ 4,640,464
Sequoia | Residential investor loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		0		0
Sequoia | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		0		0
CAFL | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Home equity investments		0		0
Other investments		0		0
Cash and cash equivalents		0		0
Restricted cash		25,613		33,921
Accrued interest receivable		20,462		20,806
Other assets		32,382		14,886
Total Assets		3,693,667		3,803,934
Short-term debt		0		0
Accrued interest payable		10,653		11,537
Accrued expenses and other liabilities		6,316		2,734
Asset-backed securities issued		3,228,804		3,362,978
Total liabilities		3,245,773		3,377,249
Value of our investments in VIEs		$ 445,332		$ 424,136
Number of VIEs | Investment		21		21
CAFL | Residential consumer loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		$ 0		$ 0
CAFL | Residential investor loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		3,615,210		3,734,321
CAFL | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		0		0
Freddie Mac SLST | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Home equity investments		0		0
Other investments		0		0
Cash and cash equivalents		0		0
Restricted cash		0		0
Accrued interest receivable		4,759		4,821
Other assets		3,178		3,158
Total Assets		1,340,623		1,367,221
Short-term debt		0		0
Accrued interest payable		4,391		4,496
Accrued expenses and other liabilities		0		0
Asset-backed securities issued		1,235,810		1,265,777
Total liabilities		1,240,201		1,270,273
Value of our investments in VIEs		$ 100,053		$ 96,623
Number of VIEs | Investment		3		3
Freddie Mac SLST | Residential consumer loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		$ 1,332,686		$ 1,359,242
Freddie Mac SLST | Residential investor loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		0		0
Freddie Mac SLST | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		0		0
Freddie Mac K-Series | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Home equity investments		0		0
Other investments		0		0
Cash and cash equivalents		0		0
Restricted cash		0		0
Accrued interest receivable		1,314		1,320
Other assets		0		0
Total Assets		424,102		426,605
Short-term debt		0		0
Accrued interest payable		1,184		1,190
Accrued expenses and other liabilities		0		0
Asset-backed securities issued		389,238		391,977
Total liabilities		390,422		393,167
Value of our investments in VIEs		$ 33,550		$ 33,308
Number of VIEs | Investment		1		1
Freddie Mac K-Series | Residential consumer loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		$ 0		$ 0
Freddie Mac K-Series | Residential investor loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		0		0
Freddie Mac K-Series | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		422,788		425,285
Servicing Investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Home equity investments		0		0
Other investments		247,308		257,489
Cash and cash equivalents		16,902		9,482
Restricted cash		0		0
Accrued interest receivable		2,421		822
Other assets		5,834		6,337
Total Assets		272,465		274,130
Short-term debt		147,342		153,653
Accrued interest payable		396		416
Accrued expenses and other liabilities		36,802		34,357
Asset-backed securities issued		0		0
Total liabilities		184,540		188,426
Value of our investments in VIEs		$ 87,925		$ 85,704
Number of VIEs | Investment		3		3
Servicing Investment | Residential consumer loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		$ 0		$ 0
Servicing Investment | Residential investor loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		0		0
Servicing Investment | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		0		0
HEI | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Home equity investments		314,184		305,717
Other investments		0		0
Cash and cash equivalents		0		0
Restricted cash		8,127		10,821
Accrued interest receivable		0		0
Other assets		99		62
Total Assets		322,410		316,600
Short-term debt		0		0
Accrued interest payable		0		0
Accrued expenses and other liabilities		64,878		59,752
Asset-backed securities issued		220,325		222,488
Total liabilities		285,203		282,240
Value of our investments in VIEs		$ 37,207		$ 34,361
Number of VIEs | Investment		2		2
Fair value of securities owned		$ 37,000
HEI | Residential consumer loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		0		$ 0
HEI | Residential investor loans, held-for-investment | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		0		0
HEI | Consolidated Agency multifamily loans | Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities
Variable Interest Entity [Line Items]
Fair value of loans		$ 0		$ 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 March 31, 2024 and December 31, 2023, assets of consolidated VIEs totaled $11,850,461 and $10,988,885, respectively. At March 31, 2024 and December 31, 2023, liabilities of consolidated VIEs totaled $10,921,862 and $10,096,308, respectively. See Note 4 for further discussion.