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Equity - Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Equity [Abstract]    
Net income attributable to Redwood $ 36,969 $ 12,063
Less: Dividends and undistributed earnings allocated to participating securities (968) (701)
Net income allocated to common shareholders $ 36,001 $ 11,362
Basic weighted average common shares outstanding (in shares) 76,738,202 77,137,682
Basic earnings per common share (in dollars per share) $ 0.47 $ 0.15
Less: Dividends and undistributed earnings allocated to participating securities $ (1,005) $ (701)
Add back: Interest expense on convertible notes for the period, net of tax 5,870 0
Net income allocated to common shareholders $ 41,834 $ 11,362
Net effect of dilutive equity awards (in shares) 111,197 0
Net effect of assumed convertible notes conversion to common shares (in shares) 21,096,738 0
Diluted weighted average common shares outstanding (in shares) 97,946,137 77,137,682
Diluted earnings per common share (in dollars per share) $ 0.43 $ 0.15