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Principles of Consolidation - Summary of Unconsolidated Variable Interest Entity's Sponsored by Redwood (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021
--- | --- | ---
On-balance sheet assets, at fair value: |  |
Subordinate securities, classified as AFS | $ 150,498 | $ 206,792
Mortgage servicing rights | 239,552 | 310,953
Total Subordinate Investment Securities |  |
On-balance sheet assets, at fair value: |  |
Subordinate securities, classified as AFS | 150,498 | 206,792
Variable Interest Entity, Not Primary Beneficiary |  |
On-balance sheet assets, at fair value: |  |
Maximum loss exposure | 123,654 | 152,206
Assets transferred: |  |
Principal balance of loans outstanding | 4,281,806 | 4,959,234
Principal balance of loans 30+ days delinquent | 27,683 | 30,594
Variable Interest Entity, Not Primary Beneficiary | Total Subordinate Investment Securities |  |
On-balance sheet assets, at fair value: |  |
Subordinate securities, classified as AFS | 85,269 | 127,542
Interest-only, senior and subordinate securities, classified as trading | Variable Interest Entity, Not Primary Beneficiary |  |
On-balance sheet assets, at fair value: |  |
Interest-only, senior and subordinate securities, classified as trading | 27,293 | 18,214
Mortgage servicing rights |  |
On-balance sheet assets, at fair value: |  |
Mortgage servicing rights | 23,560 | 12,438
Mortgage servicing rights | Variable Interest Entity, Not Primary Beneficiary |  |
On-balance sheet assets, at fair value: |  |
Mortgage servicing rights | $ 11,092 | $ 6,450

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