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Equity - Basic and Diluted Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Earnings Per Share [Abstract]      
Net (loss) income attributable to Redwood $ (163,520) $ 319,613 $ (581,847)
Less: Dividends and undistributed earnings allocated to participating securities (4,335) (10,635) (1,990)
Net (loss) income allocated to common shareholders $ (167,855) $ 308,978 $ (583,837)
Basic weighted average common shares outstanding (in shares) 117,227,846 113,230,190 113,935,605
Basic earnings (loss) per common share (in dollars per share) $ (1.43) $ 2.73 $ (5.12)
Diluted Earnings per Common Share:      
Net (loss) income attributable to Redwood $ (163,520) $ 319,613 $ (581,847)
Less: Dividends and undistributed earnings allocated to participating securities (4,335) (9,880) (1,990)
Add back: interest expense of convertible notes for the period, net of tax 0 27,463 0
Net (loss) income allocated to common shareholders $ (167,855) $ 337,196 $ (583,837)
Basic weighted average common shares outstanding (in shares) 117,227,846 113,230,190 113,935,605
Net effect of dilutive equity awards (in shares) 0 273,236 0
Net effect of assumed convertible notes conversion to common shares (in shares) 0 28,566,875 0
Diluted weighted average common shares outstanding (in shares) 117,227,846 142,070,301 113,935,605
Diluted earnings (loss) per common share (in dollars per share) $ (1.43) $ 2.37 $ (5.12)