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Business Purpose Loans - Classifications and Carrying Values of Business Purpose Residential Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Residential Bridge, Held-for-sale at fair value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	$ 0	$ 0
Bridge loans held-for-investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	726,569	641,765
Residential bridge loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	726,569	641,765
Held-for-sale at fair value, Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	418,442	245,394
Held-for-investment at fair value, Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	3,990,447	3,890,959
Business Purpose Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	4,408,889	4,136,353
Redwood | Single-family rental loans, held-for-sale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	418,442	245,394
Redwood | Single Family Rental Loans Held For Investment At Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	0	0
Redwood | Single family rental loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	418,442	245,394
CoreVest | Single-family rental loans, held-for-sale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	0	0
CoreVest | Single Family Rental Loans Held For Investment At Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	3,263,878	3,249,194
CoreVest | Single family rental loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	$ 3,263,878	$ 3,249,194

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 5
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(3))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 45
-Paragraph 2
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