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Basic and Diluted Earnings Per Common Share (Detail) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Earnings Per Share Disclosure [Line Items]        
Basic earnings per common share $ 0.19 $ 0.78 $ 0.33 $ 1.50
Net income attributable to Redwood $ 16,017 $ 65,573 $ 28,350 $ 126,183
Basic weighted average common shares outstanding 82,740,012 82,123,823 82,575,636 81,729,014
Net effect of dilutive equity awards 2,292,986 11,825,450 2,418,685 2,274,311
Net effect of assumed convertible notes conversion to common shares   11,825,450   7,644,075
Diluted weighted average common shares outstanding 85,032,998 96,171,713 84,994,321 91,647,400
Diluted earnings per common share $ 0.18 $ 0.71 $ 0.32 $ 1.40
Basic Earnings (Loss) Per Common Share
       
Earnings Per Share Disclosure [Line Items]        
Net income attributable to Redwood 16,017 65,573 28,350 126,183
Less: Dividends and undistributed earnings allocated to participating securities (537) (1,830) (1,239) (3,819)
Net income allocated to common shareholders 15,480 63,743 27,111 122,364
Basic weighted average common shares outstanding 82,740,012 82,123,823 82,575,636 81,729,014
Diluted Earnings (Loss) Per Common Share
       
Earnings Per Share Disclosure [Line Items]        
Net income attributable to Redwood 16,017 65,573 28,350 126,183
Less: Dividends and undistributed earnings allocated to participating securities (537) (1,175) (1,239) (2,527)
Add back: Interest expense on convertible notes   3,856   4,933
Net income allocated to common shareholders $ 15,480 $ 68,254 $ 27,111 $ 128,589
Basic weighted average common shares outstanding 82,740,012 82,123,823 82,575,636 81,729,014
Net effect of dilutive equity awards 2,292,986 2,222,440 2,418,685 2,274,311
Net effect of assumed convertible notes conversion to common shares   11,825,450   7,644,075
Diluted weighted average common shares outstanding 85,032,998 96,171,713 84,994,321 91,647,400