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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, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Equity [Abstract]        
Net income attributable to Redwood $ 32,747 $ 36,324 $ 79,592 $ 73,293
Less: Dividends and undistributed earnings allocated to participating securities (1,074) (884) (2,535) (1,852)
Net income allocated to common shareholders $ 31,673 $ 35,440 $ 77,057 $ 71,441
Basic weighted average common shares outstanding (in shares) 75,380,715 76,819,703 75,388,638 76,779,178
Basic earnings per common share (in dollars per share) $ 0.42 $ 0.46 $ 1.02 $ 0.93
Less: Dividends and undistributed earnings allocated to participating securities $ (1,156) $ (935) $ (2,584) $ (1,940)
Add back: Interest expense on convertible notes for the period, net of tax 6,335 6,205 14,976 12,075
Net income allocated to common shareholders $ 37,926 $ 41,594 $ 91,984 $ 83,428
Net effect of dilutive equity awards (in shares) 277,788 235,273 156,307 173,235
Net effect of assumed convertible notes conversion to common shares (in shares) 24,773,490 20,439,168 28,746,235 20,766,137
Diluted weighted average common shares outstanding (in shares) 100,431,993 97,494,144 104,291,180 97,718,550
Diluted earnings per common share (in dollars per share) $ 0.38 $ 0.43 $ 0.88 $ 0.85