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Equity - Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Basic Earnings per Common Share:        
Net (loss) income attributable to Redwood $ (50,411) $ 88,286 $ (119,462) $ 275,568
Less: Dividends and undistributed earnings allocated to participating securities (1,158) (2,984) (3,445) (8,979)
Net (loss) income allocated to common shareholders $ (51,569) $ 85,302 $ (122,907) $ 266,589
Basic weighted average common shares outstanding (in shares) 116,087,890 112,995,847 118,530,172 112,754,691
Basic Earnings per Common Share (in dollars per share) $ (0.44) $ 0.75 $ (1.04) $ 2.36
Diluted Earnings per Common Share:        
Net (loss) income attributable to Redwood $ (50,411) $ 88,286 $ (119,462) $ 275,568
Less: Dividends and undistributed earnings allocated to participating securities (1,158) (2,747) (3,445) (8,151)
Add back: Interest expense on convertible notes for the period, net of tax 0 6,870 0 20,585
Net (loss) income allocated to common shareholders $ (51,569) $ 92,409 $ (122,907) $ 288,002
Net effect of dilutive equity awards (in shares) 0 292,749 0 253,819
Net effect of assumed convertible notes conversion to common shares (in shares) 0 28,566,875 0 28,566,875
Diluted weighted average common shares outstanding (in shares) 116,087,890 141,855,471 118,530,172 141,575,385
Diluted Earnings (Loss) per Common Share (in dollars per share) $ (0.44) $ 0.65 $ (1.04) $ 2.03