Consolidated Statements Of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2013		Jun. 30, 2012
Cash Flows From Operating Activities:
Net income attributable to Redwood Trust, Inc.	$ 126,183		$ 49,990
Adjustments to reconcile net income to net cash used in operating activities:
Amortization of premiums, discounts, and securities issuance costs, net	(11,780)		(12,953)
Depreciation and amortization of non-financial assets	224		1,612
Purchases of loans	(5,457,558)		(998,906)
Proceeds from sales of loans	4,635,630		754,175
Principal payments on loans	5,169		4,102
Net settlements of derivatives	9,784		(17,160)
Reversal of provision for loan losses	(1,233)		(1,065)
Non-cash equity award compensation	9,515		5,217
Market valuation adjustments, net	(84,560)		12,959
Realized gains, net	(23,854)		(33,452)
Net change in:
Accrued interest receivable, deferred tax assets, and other assets	(10,871)		(701)
Accrued interest payable and accrued expenses and other liabilities	61,186		16,606
Net cash used in operating activities	(742,165)		(219,576)
Cash Flows From Investing Activities:
Purchases of loans held-for-investment	(54,539)		(95,508)
Proceeds from sales of loans	440	[1]	386,143	[1]
Principal payments on loans	284,076		287,996
Purchases of real estate securities	(298,946)		(409,788)
Proceeds from sales of real estate securities	31,195		101,662
Principal payments on real estate securities	81,250		95,536
Proceeds from deconsolidation			6,386
Net increase in restricted cash	(22)		(3,566)
Net cash provided by investing activities	43,454		368,861
Cash Flows From Financing Activities:
Proceeds from borrowings on short-term debt	3,989,557		707,051
Repayments on short-term debt	(3,095,514)		(679,688)
Proceeds from issuance of asset-backed securities			96
Repayments on asset-backed securities issued	(313,848)		(322,000)
Deferred securities issuance costs	(9,184)
Proceeds from issuance of long-term debt	304,100
Repayments on long-term debt	(9)
Net settlements of derivatives	(5)		(12,195)
Net proceeds from issuance of common stock	3,064		292
Taxes paid on equity award distributions	(5,741)
Dividends paid	(47,095)		(40,498)
Net cash provided by (used in) financing activities	825,325		(346,942)
Net increase (decrease) in cash and cash equivalents	126,614		(197,657)
Cash and cash equivalents at beginning of period	81,080		267,176
Cash and cash equivalents at end of period	207,694		69,519
Supplemental Disclosures:
Cash paid for interest	37,581		59,152
Cash paid for taxes	1,097		155
Transfers from residential loans to real estate owned	$ 2,687		$ 3,406

[1] For the six months ended June 30, 2012, the proceeds from sales of loans included in investing activities related to loans that were reclassified from loans held-for-investment to loans held-for-sale during the fourth quarter of 2011.