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Equity - Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Earnings Per Share [Abstract]                      
Net income attributable to Redwood $ 25,355 $ 52,553 $ 41,281 $ 12,063 $ 41,059 $ 19,164 $ 27,064 $ 14,801 $ 131,252 $ 102,088 $ 100,569
Less: Dividends and undistributed earnings allocated to participating securities                 (3,742) (2,806) (2,612)
Net income allocated to common shareholders                 $ 127,510 $ 99,282 $ 97,957
Basic weighted average common shares outstanding (in shares)                 76,747,047 82,945,103 82,837,369
Basic earnings per common share (in dollars per share) $ 0.32 $ 0.67 $ 0.52 $ 0.15 $ 0.49 $ 0.22 $ 0.31 $ 0.17 $ 1.66 $ 1.20 $ 1.18
Less: Dividends and undistributed earnings allocated to participating securities                 $ (4,035) $ (2,677) $ (2,524)
Add back: Interest expense on convertible notes                 23,862 0 0
Net income allocated to common shareholders                 $ 151,079 $ 99,411 $ 98,045
Net effect of dilutive equity awards (in shares)                 28,435 1,573,292 2,261,210
Net effect of assumed convertible notes conversion to common shares (in shares)                 21,133,608 0 0
Diluted weighted average shares outstanding (in shares)                 97,909,090 84,518,395 85,098,579
Diluted earnings per common share (in dollars per share) $ 0.31 $ 0.58 $ 0.48 $ 0.15 $ 0.46 $ 0.22 $ 0.31 $ 0.16 $ 1.54 $ 1.18 $ 1.15