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Principles of Consolidation - Assumptions Related to Unconsolidated Variable Interest Entity's Sponsored by Redwood (Details) - Variable Interest Entity, Not Primary Beneficiary | 9 Months Ended
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Sep. 30, 2021 | Sep. 30, 2020
Senior IO Securities |  |
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items] |  |
Prepayment rates | 11.00% | 41.00%
Discount rates | 15.00% | 16.00%
Credit loss assumptions | 0.23% | 0.21%
Subordinate Securities |  |
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items] |  |
Prepayment rates | 11.00% | 13.00%
Discount rates | 6.00% | 6.00%
Credit loss assumptions | 0.23% | 0.22%

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- Definition Discount rate which is used to value residual cash flows generated by financial assets of the securitization, asset-backed financing arrangement, or similar transfer for initial fair value measurement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=121570589&loc=d3e107207-111719 + Details
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- Definition Rate at which principal will not be repaid on securitized financial assets, including for example, but not limited to, expected static pool losses for initial fair value measurement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c)(3) -URI http://asc.fasb.org/extlink&oid=121570589&loc=d3e107207-111719 + Details
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- Definition Estimated rate of prepayment of principal on financial assets for initial fair value measurement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=121570589&loc=d3e107207-111719 + Details
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