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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, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Equity [Abstract]        
Net income attributable to Redwood $ 36,180 $ 52,553 $ 109,473 $ 105,897
Less: Dividends and undistributed earnings allocated to participating securities (948) (1,485) (2,800) (3,040)
Net income allocated to common shareholders $ 35,232 $ 51,068 $ 106,673 $ 102,857
Basic weighted average common shares outstanding (in shares) 76,850,830 76,680,183 76,803,324 76,827,026
Basic earnings per common share (in dollars per share) $ 0.46 $ 0.67 $ 1.39 $ 1.34
Less: Dividends and undistributed earnings allocated to participating securities $ (986) $ (1,439) $ (2,926) $ (3,226)
Add back: Interest expense on convertible notes for the period, net of tax 6,564 6,115 18,639 18,263
Net income allocated to common shareholders $ 41,758 $ 57,229 $ 125,186 $ 120,934
Net effect of dilutive equity awards (in shares) 298,955 54,696 215,141 18,665
Net effect of assumed convertible notes conversion to common shares (in shares) 25,553,323 21,096,738 22,379,401 21,145,987
Diluted weighted average common shares outstanding (in shares) 102,703,108 97,831,617 99,397,866 97,991,678
Diluted earnings per common share (in dollars per share) $ 0.41 $ 0.58 $ 1.26 $ 1.23