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Equity - Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Equity [Abstract]        
Net income attributable to Redwood $ 36,324 $ 41,281 $ 73,293 $ 53,344
Less: Dividends and undistributed earnings allocated to participating securities (884) (1,089) (1,852) (1,494)
Net income allocated to common shareholders $ 35,440 $ 40,192 $ 71,441 $ 51,850
Basic weighted average common shares outstanding (in shares) 76,819,703 76,664,829 76,779,178 76,901,255
Basic earnings per common share (in dollars per share) $ 0.46 $ 0.52 $ 0.93 $ 0.67
Less: Dividends and undistributed earnings allocated to participating securities $ (935) $ (1,134) $ (1,940) $ (1,668)
Add back: Interest expense on convertible notes for the period, net of tax 6,205 7,015 12,075 7,637
Net income allocated to common shareholders $ 41,594 $ 47,162 $ 83,428 $ 59,313
Net effect of dilutive equity awards (in shares) 235,273 369 173,235 1,675
Net effect of assumed convertible notes conversion to common shares (in shares) 20,439,168 21,096,738 20,766,137 11,825,450
Diluted weighted average common shares outstanding (in shares) 97,494,144 97,761,936 97,718,550 88,728,380
Diluted earnings per common share (in dollars per share) $ 0.43 $ 0.48 $ 0.85 $ 0.67