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Equity - Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Equity [Abstract]        
Net income attributable to Redwood $ 52,553 $ 19,164 $ 105,897 $ 61,029
Less: Dividends and undistributed earnings allocated to participating securities (1,485) (553) (3,040) (1,928)
Net income allocated to common shareholders $ 51,068 $ 18,611 $ 102,857 $ 59,101
Basic weighted average common shares outstanding (shares) 76,680,183 83,787,533 76,827,026 83,696,461
Basic earnings per common share (usd per share) $ 0.67 $ 0.22 $ 1.34 $ 0.71
Less: Dividends and undistributed earnings allocated to participating securities $ (1,439) $ (553) $ (3,226) $ (1,928)
Add back: Interest expense on convertible notes for the period, net of tax 6,115 0 18,263 0
Net income allocated to common shareholders $ 57,229 $ 18,611 $ 120,934 $ 59,101
Net effect of dilutive equity awards (in shares) 54,696 1,287,171 18,665 1,642,535
Net effect of assumed convertible notes conversion to common shares (in shares) 21,096,738 0 21,145,987 0
Diluted weighted average common shares outstanding (shares) 97,831,617 85,074,704 97,991,678 85,338,996
Diluted earnings per common share (usd per share) $ 0.58 $ 0.22 $ 1.23 $ 0.69