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Business Purpose Loans - Classifications and Carrying Values of Business Purpose Residential Loans (Details) - USD ($) $ in Thousands	Sep. 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	548,445	641,765
Residential bridge loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	548,445	641,765
Held-for-sale at fair value, Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	466,346	245,394
Held-for-investment at fair value, Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	4,227,209	3,890,959
Business Purpose Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	4,693,555	4,136,353
Redwood | Single-family rental loans, held-for-sale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	466,346	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	466,346	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	3,402,410	3,249,194
CoreVest | Single family rental loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	3,402,410	3,249,194
CoreVest | Bridge Loans, Held-For-Sale At Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	0	0
CoreVest | Bridge Loans Held For Investment At Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	276,354	0
CoreVest | Bridge Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	$ 276,354	$ 0

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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
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-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
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-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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