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Equity - Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Earnings Per Share [Abstract]      
Net income (loss) attributable to Redwood $ 319,613 $ (581,847) $ 169,183
Less: Dividends and undistributed earnings allocated to participating securities (10,635) (1,990) (4,797)
Net income (loss) allocated to common shareholders $ 308,978 $ (583,837) $ 164,386
Basic weighted average common shares outstanding (in shares) 113,230,190 113,935,605 101,120,744
Basic earnings (loss) per common share (in dollars per share) $ 2.73 $ (5.12) $ 1.63
Less: Dividends and undistributed earnings allocated to participating securities $ (9,880) $ (1,990) $ (5,273)
Adjust for interest expense and gain on extinguishment of convertible notes for the period, net of tax 27,463 0 36,212
Net income (loss) allocated to common shareholders $ 337,196 $ (583,837) $ 200,122
Weighted average common shares outstanding (in shares) 113,230,190 113,935,605 101,147,225
Net effect of dilutive equity awards (in shares) 273,236 0 251,100
Net effect of assumed convertible notes conversion to common shares (in shares) 28,566,875 0 35,382,269
Diluted weighted average common shares outstanding (in shares) 142,070,301 113,935,605 136,780,594
Diluted earnings (loss) per common share (in dollars per share) $ 2.37 $ (5.12) $ 1.46