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Equity - Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Basic Earnings (Loss) per Common Share:    
Net income (loss) attributable to Redwood $ 97,257 $ (943,398)
Less: Dividends and undistributed earnings allocated to participating securities (3,294) (1,209)
Net income (loss) allocated to common shareholders $ 93,963 $ (944,607)
Basic weighted average common shares outstanding (in shares) 112,276,842 114,076,568
Basic Earnings (Loss) per Common Share (in dollars per share) $ 0.84 $ (8.28)
Diluted Earnings (Loss) per Common Share:    
Net income (loss) attributable to Redwood $ 97,257 $ (943,398)
Less: Dividends and undistributed earnings allocated to participating securities (2,951) (1,209)
Add back: Interest expense on convertible notes for the period, net of tax 7,007 0
Net income (loss) allocated to common shareholders $ 101,313 $ (944,607)
Weighted average common shares outstanding (in shares) 112,276,842 114,076,568
Net effect of dilutive equity awards (in shares) 195,568 0
Net effect of assumed convertible notes conversion to common shares (in shares) 28,566,875 0
Diluted weighted average common shares outstanding (in shares) 141,039,285 114,076,568
Diluted Earnings (Loss) per Common Share (in dollars per share) $ 0.72 $ (8.28)