v3.26.1
Principles of Consolidation - Schedule of Assets and Liabilities of Consolidated VIEs (Details)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2026
USD ($)
Investment
securitization
Jun. 30, 2026
USD ($)
securitization_entity
Investment
Dec. 31, 2025
USD ($)
tranche
Investment
securitization
Jun. 30, 2025
USD ($)
Variable Interest Entity [Line Items]        
Home equity investments [1] $ 339,735 $ 339,735 $ 329,883  
Other investments [1] 97,133 97,133 101,958  
Cash and cash equivalents 191,846 [1] 191,846 [1] 255,664 [1] $ 301,979
Accrued interest receivable 151,426 151,426 130,955  
Other assets [1] 471,256 471,256 413,522  
Total Assets 28,818,131 [1] 28,818,131 [1] 23,701,114 [1] $ 21,333,020
Accrued interest payable 105,110 105,110 81,851  
Accrued expenses and other liabilities [1] 400,899 400,899 398,935  
Asset-backed securities issued [1] 22,515,907 22,515,907 17,492,031  
Total liabilities [1] $ 27,884,292 27,884,292 22,718,498  
Securitization entity | securitization 4      
AFS $ 287,347 287,347 $ 287,557  
Residential investor term loans held by CAFL        
Variable Interest Entity [Line Items]        
Securitization entity | tranche     2  
Fair value of securities owned $ 314,000 $ 314,000 $ 330,000  
Sequoia Re-securitization Trust        
Variable Interest Entity [Line Items]        
Securitization entity 3 3 3  
AFS $ 165,000 $ 165,000 $ 165,000  
Consolidated Sequoia Securitizations        
Variable Interest Entity [Line Items]        
Fair value of securities owned 1,230,000 1,230,000 722,000  
AFS 445,000 445,000 417,000  
At consolidated CAFL Bridge entities        
Variable Interest Entity [Line Items]        
Fair value of securities owned 70,000 70,000 50,000  
VIEs        
Variable Interest Entity [Line Items]        
Total Assets 24,372,361 24,372,361 18,927,094  
Total liabilities 22,877,902 22,877,902 17,850,175  
VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Home equity investments 194,261 194,261 191,121  
Other investments 244,187 244,187 265,771  
Cash and cash equivalents 20,723 20,723 32,408  
Restricted cash 92,498 92,498 167,742  
Accrued interest receivable 123,196 123,196 99,118  
Other assets 106,301 106,301 58,785  
Total Assets 24,372,361 24,372,361 18,927,094  
Debt Obligations 128,025 128,025 152,293  
Accrued interest payable 84,805 84,805 64,996  
Accrued expenses and other liabilities 149,165 149,165 140,855  
Asset-backed securities issued 22,515,907 22,515,907 17,492,031  
Total liabilities 22,877,902 22,877,902 17,850,175  
Value of our investments in VIEs $ 1,473,117 $ 1,473,117 $ 1,058,824  
Number of VIEs | Investment 111 111 99  
Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans $ 20,702,101 $ 20,702,101 $ 14,843,746  
Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans 2,724,424 2,724,424 3,103,311  
Real estate securities | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans 164,670 164,670 165,092  
Sequoia | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Home equity investments 0 0 0  
Other investments 0 0 0  
Cash and cash equivalents 0 0 0  
Restricted cash 312 312 266  
Accrued interest receivable 95,836 95,836 73,864  
Other assets 6,655 6,655 1,984  
Total Assets 20,969,574 20,969,574 15,084,952  
Debt Obligations 0 0 0  
Accrued interest payable 76,159 76,159 57,525  
Accrued expenses and other liabilities 162 162 121  
Asset-backed securities issued 19,926,622 19,926,622 14,540,397  
Total liabilities 20,002,943 20,002,943 14,598,043  
Value of our investments in VIEs $ 946,822 $ 946,822 $ 470,496  
Number of VIEs | Investment 86 86 72  
Sequoia | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans $ 20,702,101 $ 20,702,101 $ 14,843,746  
Sequoia | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans 0 0 0  
Sequoia | Real estate securities | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans 164,670 164,670 165,092  
Residential investor term loans held by CAFL | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Home equity investments 0 0 0  
Other investments 0 0 0  
Cash and cash equivalents 0 0 0  
Restricted cash 87,128 87,128 161,780  
Accrued interest receivable 25,524 25,524 23,330  
Other assets 98,008 98,008 54,667  
Total Assets 2,935,084 2,935,084 3,343,088  
Debt Obligations 0 0 0  
Accrued interest payable 8,451 8,451 7,210  
Accrued expenses and other liabilities 68,238 68,238 57,301  
Asset-backed securities issued 2,462,927 2,462,927 2,824,159  
Total liabilities 2,539,616 2,539,616 2,888,670  
Value of our investments in VIEs $ 393,935 $ 393,935 $ 452,736  
Number of VIEs | Investment 21 21 23  
Residential investor term loans held by CAFL | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans $ 0 $ 0 $ 0  
Residential investor term loans held by CAFL | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans 2,724,424 2,724,424 3,103,311  
Residential investor term loans held by CAFL | Real estate securities | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans 0 0 0  
Servicing Investment | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Home equity investments 0 0 0  
Other investments 244,187 244,187 265,771  
Cash and cash equivalents 20,723 20,723 32,408  
Restricted cash 0 0 0  
Accrued interest receivable 1,836 1,836 1,924  
Other assets 1,276 1,276 1,833  
Total Assets 268,022 268,022 301,936  
Debt Obligations 128,025 128,025 152,293  
Accrued interest payable 195 195 261  
Accrued expenses and other liabilities 34,246 34,246 39,248  
Asset-backed securities issued 0 0 0  
Total liabilities 162,466 162,466 191,802  
Value of our investments in VIEs $ 105,556 $ 105,556 $ 110,134  
Number of VIEs | Investment 3 3 3  
Servicing Investment | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans $ 0 $ 0 $ 0  
Servicing Investment | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans 0 0 0  
Servicing Investment | Real estate securities | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans 0 0 0  
HEI | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Home equity investments 194,261 194,261 191,121  
Other investments 0 0 0  
Cash and cash equivalents 0 0 0  
Restricted cash 5,058 5,058 5,696  
Accrued interest receivable 0 0 0  
Other assets 362 362 301  
Total Assets 199,681 199,681 197,118  
Debt Obligations 0 0 0  
Accrued interest payable 0 0 0  
Accrued expenses and other liabilities 46,519 46,519 44,185  
Asset-backed securities issued 126,358 126,358 127,475  
Total liabilities 172,877 172,877 171,660  
Value of our investments in VIEs $ 26,804 $ 26,804 $ 25,458  
Number of VIEs | Investment 1 1 1  
HEI | Residential consumer loans, held-for-investment | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans $ 0 $ 0 $ 0  
HEI | Residential investor loans, held-for-investment | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans 0 0 0  
HEI | Real estate securities | VIEs | Collateralized Financing Entities        
Variable Interest Entity [Line Items]        
Fair value of loans $ 0 $ 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 June 30, 2026 and December 31, 2025, assets of consolidated VIEs totaled $24,372,361 and $18,927,094, respectively. At June 30, 2026 and December 31, 2025, liabilities of consolidated VIEs totaled $22,877,902 and $17,850,175, respectively. See Note 16 for further discussion.