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Principles of Consolidation - Summary of Unconsolidated Variable Interest Entity's Sponsored by Redwood (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021
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On-balance sheet assets, at fair value: |  |
Subordinate securities, classified as AFS | $ 142,279 | $ 206,792
Total Subordinate Investment Securities |  |
On-balance sheet assets, at fair value: |  |
Subordinate securities, classified as AFS | 142,279 | 206,792
Variable Interest Entity, Not Primary Beneficiary |  |
On-balance sheet assets, at fair value: |  |
Maximum loss exposure | 118,491 | 152,206
Assets transferred: |  |
Principal balance of loans outstanding | 4,146,817 | 4,959,234
Principal balance of loans 30+ days delinquent | 21,803 | 30,594
Variable Interest Entity, Not Primary Beneficiary | Total Subordinate Investment Securities |  |
On-balance sheet assets, at fair value: |  |
Subordinate securities, classified as AFS | 78,065 | 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 | 28,511 | 18,214
Mortgage servicing rights |  |
On-balance sheet assets, at fair value: |  |
Mortgage servicing rights | 24,796 | 12,438
Mortgage servicing rights | Variable Interest Entity, Not Primary Beneficiary |  |
On-balance sheet assets, at fair value: |  |
Mortgage servicing rights | $ 11,915 | $ 6,450

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