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Business Purpose Loans - Classifications and Carrying Values of Business Purpose Residential Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Real estate amount, amount with original maturity of thirty years (as a percent)	2.00%
LIBOR
Accounts, Notes, Loans and Financing Receivable [Line Items]
Real estate owned, rate (as a percent)	71.00%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Real estate owned, rate (as a percent)	12.00%
Fixed Rate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Real estate owned, rate (as a percent)	17.00%
Commitment To Fund Residential Bridge Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commitment to fund loan	$ 792,000
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	917,979		666,364
Residential bridge loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	$ 917,979		666,364
Bridge Loans | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential bridge loans held-for-investment, original maturities (in months)	6 months
Bridge Loans | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential bridge loans held-for-investment, original maturities (in months)		36 months
Held-for-sale at fair value, Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	$ 505,889		358,309
Held-for-investment at fair value, Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	4,248,889		4,432,680
Business Purpose Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	4,754,778		4,790,989
Redwood | Single-family rental loans, held-for-sale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	505,889		358,309
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	505,889		358,309
CAFL | Single-family rental loans, held-for-sale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	0		0
CAFL | Single Family Rental Loans Held For Investment At Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	3,038,939		3,488,074
CAFL | Single family rental loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	3,038,939		3,488,074
CAFL | Bridge Loans, Held-For-Sale At Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	0		0
CAFL | Bridge Loans Held For Investment At Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	291,971		278,242
CAFL | Bridge Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	$ 291,971		$ 278,242

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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