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Principles of Consolidation - Key Assumptions and Sensitivity Analysis for Assets Retained from Unconsolidated Variable Interest Entity's Sponsored by Redwood (Details) - Variable Interest Entity, Not Primary Beneficiary - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended
--- | --- | --- | ---
Mar. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021
MSRs |  |  |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] |  |  |
Fair value |  | $ 11,092 | $ 6,450
Expected life (in years) |  | 6 years | 3 years
Prepayment speed assumption (annual CPR) (as a percent) |  | 10.00% | 29.00%
Decrease in fair value from: |  |  |
10% adverse change |  | $ 1,402 | $ 447
25% adverse change |  | $ 3,405 | $ 1,020
Discount rate assumption |  | 11.00% | 12.00%
Decrease in fair value from: |  |  |
100 basis point increase |  | $ 1,649 | $ 152
200 basis point increase |  | 3,180 | 297
Senior Securities |  |  |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] |  |  |
Fair value |  | $ 27,293 | $ 18,214
Expected life (in years) |  | 6 years | 4 years
Prepayment speed assumption (annual CPR) (as a percent) |  | 11.00% | 23.00%
Decrease in fair value from: |  |  |
10% adverse change |  | $ 1,002 | $ 1,130
25% adverse change |  | $ 2,406 | $ 2,596
Discount rate assumption |  | 12.00% | 16.00%
Decrease in fair value from: |  |  |
100 basis point increase |  | $ 910 | $ 426
200 basis point increase |  | $ 1,759 | $ 829
Credit loss assumption |  | 0.03% | 0.35%
Decrease in fair value from: |  |  |
10% higher losses |  |  | $ 0
25% higher losses |  |  | 0
Subordinate Securities |  |  |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] |  |  |
Fair value |  | $ 85,269 | $ 127,542
Expected life (in years) |  | 15 years | 5 years
Prepayment speed assumption (annual CPR) (as a percent) |  | 10.00% | 32.00%
Decrease in fair value from: |  |  |
10% adverse change |  | $ 568 | $ 531
25% adverse change |  | $ 1,323 | $ 1,440
Discount rate assumption |  | 8.00% | 5.00%
Decrease in fair value from: |  |  |
100 basis point increase |  | $ 8,522 | $ 4,801
200 basis point increase |  | $ 15,860 | $ 9,139
Credit loss assumption |  | 0.03% | 0.35%
Decrease in fair value from: |  |  |
10% higher losses |  | $ 42 | $ 1,528
25% higher losses |  | $ 103 | $ 3,819
Minimum | MSRs |  |  |
Decrease in fair value from: |  |  |
Impact of adverse change in prepayment speed | 10.00% | 10.00% |
Impact of increase in discount rate assumption | 1.00% | 1.00% |
Impact of adverse change in expected credit losses | 10.00% | 10.00% |
Minimum | Senior Securities |  |  |
Decrease in fair value from: |  |  |
Impact of adverse change in prepayment speed | 10.00% | 10.00% |
Impact of increase in discount rate assumption | 1.00% | 1.00% |
Impact of adverse change in expected credit losses | 10.00% | 10.00% |
Minimum | Subordinate Securities |  |  |
Decrease in fair value from: |  |  |
Impact of adverse change in prepayment speed | 10.00% | 10.00% |
Impact of increase in discount rate assumption | 1.00% | 1.00% |
Impact of adverse change in expected credit losses | 10.00% | 10.00% |
Maximum | MSRs |  |  |
Decrease in fair value from: |  |  |
Impact of adverse change in prepayment speed | 25.00% | 25.00% |
Impact of increase in discount rate assumption | 2.00% | 2.00% |
Impact of adverse change in expected credit losses | 25.00% | 25.00% |
Maximum | Senior Securities |  |  |
Decrease in fair value from: |  |  |
Impact of adverse change in prepayment speed | 25.00% | 25.00% |
Impact of increase in discount rate assumption | 2.00% | 2.00% |
Impact of adverse change in expected credit losses | 25.00% | 25.00% |
Maximum | Subordinate Securities |  |  |
Decrease in fair value from: |  |  |
Impact of adverse change in prepayment speed | 25.00% | 25.00% |
Impact of increase in discount rate assumption | 2.00% | 2.00% |
Impact of adverse change in expected credit losses | 25.00% | 25.00% |

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- Definition Weighted average life of securitized assets regardless of when the transfer occurred, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719 + Details
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- Definition The carrying amount (fair value) as of the balance sheet date of the transferor's interests in transferred financial assets (typically securitized receivables, generally not involved in the collection of principal) following transfer of significant portions of such financial instruments to other parties. Such interests could be ancillary cash flows and interest-only strips. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (a)(3) -URI https://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719 + Details
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- Definition The hypothetical financial impact of a 10 percent adverse change of prepayment speed on the fair value of transferor's interests in transferred financial assets (including any servicing assets or servicing liabilities) as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719 + Details
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