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Business Purpose Loans - Activity and Characteristics of Business Purpose Loans (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
--- | --- | --- | ---
Mar. 31, 2023 USD ($) loan | Mar. 31, 2022 USD ($) | Jun. 30, 2022 USD ($) loan | Dec. 31, 2022 USD ($) loan
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Purchases of held-for-sale loans | $ 55,824 | $ 2,197,570 |  |
Principal balance of loans sold to third parties | 255 | 23,050 |  |
Fair value of loans transferred | 873,093 | 1,098,459 |  |
Single-family rental loans, held-for-sale | Redwood |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Purchases of held-for-sale loans | 174,078 | 442,727 |  |
Principal balance of loans acquired | 3,815 | 61,892 |  |
Principal balance of loans sold to third parties | 217,702 | 331,502 |  |
Fair value of loans transferred | 0 | 0 |  |
Gain (loss) on investments | 0 | 0 |  |
Fair value of loans | 354,166 |  |  | $ 358,791
Single-family rental loans, held-for-sale | Redwood | Total residential mortgage banking activities, net |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Gain (loss) on investments | 12,666 | (24,468) |  |
Business Purpose loans held-for-investment | Redwood |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Purchases of held-for-sale loans | 255,152 | 411,938 |  |
Principal balance of loans acquired | 9,085 | 2,983 |  |
Principal balance of loans sold to third parties | 12,547 | 0 |  |
Fair value of loans transferred | 80,792 | 82,291 |  |
Gain (loss) on investments | 1,609 | (759) |  |
Fair value of loans | 1,616,610 |  |  | 1,507,146
Business Purpose loans held-for-investment | Redwood | Total residential mortgage banking activities, net |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Gain (loss) on investments | 1,162 | 2,375 |  |
Business Purpose Loans |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Fair value of loans | 5,364,649 |  |  | 5,332,586
Single Family Rental Loans Held For Investment At Fair Value | Redwood |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Fair value of loans | 0 |  |  | 0
Single Family Rental Loans Held For Investment At Fair Value | CAFL |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Gain (loss) on investments | $ 37,179 | (191,903) |  |
Number of loans | loan | 1,094 |  | 1,131 |
Unpaid principal balance | $ 3,172,026 |  |  | 3,263,421
Fair value of loans | $ 2,891,043 |  |  | $ 2,944,984
Weighted average coupon rate (as a percent) | 5.21% |  |  | 5.22%
Weighted average remaining loan term (years) | 5 years |  | 6 years |
Fair value of loans with 90+ day delinquencies | $ 9,378 |  |  | $ 13,686
Number of loans in foreclosure | loan | 8 |  |  | 9
Single Family Rental Loans Held For Investment At Fair Value | CAFL | Financing Receivables, Equal to Greater than 90 Days Past Due |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Number of loans with 90+ day delinquencies | loan | 19 |  |  | 16
Fair value of loans with 90+ day delinquencies | $ 60,740 |  |  | $ 37,072
Bridge Loans Held For Investment At Fair Value | CAFL |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Gain (loss) on investments | $ (592) | $ (1,384) |  |
Single-Family Rental Loans, Held-For-Sale | Redwood |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Number of loans | loan | 94 |  | 91 |
Unpaid principal balance | $ 349,190 |  |  | 389,846
Fair value of loans | $ 354,166 |  |  | $ 358,791
Weighted average coupon rate (as a percent) | 6.98% |  |  | 5.98%
Weighted average remaining loan term (years) | 9 years |  | 10 years |
Fair value of loans with 90+ day delinquencies | $ 536 |  |  | $ 536
Number of loans in foreclosure | loan | 1 |  |  | 1
Unpaid principal balance of loans in foreclosure | $ 536 |  |  | $ 536
Single-Family Rental Loans, Held-For-Sale | Redwood | Loans Pledged As Collateral, Short Term Debt |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Gain (loss) on investments | 345,080 |  | $ 291,406 |
Single-Family Rental Loans, Held-For-Sale | Redwood | Loans Pledged As Collateral, Long Term debt |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Gain (loss) on investments | 0 |  | $ 66,567 |
Single-Family Rental Loans, Held-For-Sale | Redwood | Financing Receivables, Equal to Greater than 90 Days Past Due |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Fair value of loans | $ 1,157 |  |  | $ 536
Number of loans with 90+ day delinquencies | loan | 2 |  |  | 1
Fair value of loans with 90+ day delinquencies | $ 1,566 |  |  | $ 536
Business Purpose Bridge Loans | Redwood |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Number of loans | loan | 1,473 |  | 1,601 |
Unpaid principal balance | $ 1,636,460 |  |  | 1,518,427
Fair value of loans | $ 1,633,829 |  |  | $ 1,512,428
Weighted average coupon rate (as a percent) | 10.20% |  |  | 9.61%
Weighted average remaining loan term (years) | 1 year |  | 2 years |
Fair value of loans with 90+ day delinquencies | $ 31,446 |  |  | $ 34,039
Number of loans in foreclosure | loan | 52 |  |  | 48
Unpaid principal balance of loans in foreclosure | $ 27,308 |  |  | $ 29,438
Business Purpose Bridge Loans | Redwood | Loans Pledged As Collateral, Short Term Debt |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Gain (loss) on investments | 675,971 |  | $ 579,666 |
Business Purpose Bridge Loans | Redwood | Loans Pledged As Collateral, Long Term debt |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Gain (loss) on investments | 922,296 |  | $ 897,782 |
Business Purpose Bridge Loans | Redwood | Financing Receivables, Equal to Greater than 90 Days Past Due |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Fair value of loans | $ 28,387 |  |  | $ 29,663
Number of loans with 90+ day delinquencies | loan | 53 |  |  | 49
Fair value of loans with 90+ day delinquencies | $ 32,526 |  |  | $ 34,264
Business Purpose Bridge Loans | CAFL |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Number of loans | loan | 1,796 |  | 1,875 |
Unpaid principal balance | $ 484,124 |  |  | 514,666
Fair value of loans | $ 485,611 |  |  | $ 516,383
Weighted average coupon rate (as a percent) | 10.41% |  |  | 9.67%
Weighted average remaining loan term (years) | 1 year |  | 1 year |
Fair value of loans with 90+ day delinquencies | $ 7,628 |  |  | $ 7,328
Number of loans in foreclosure | loan | 49 |  |  | 48
Unpaid principal balance of loans in foreclosure | $ 7,628 |  |  | $ 7,438
Business Purpose Bridge Loans | CAFL | Financing Receivables, Equal to Greater than 90 Days Past Due |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Fair value of loans | $ 11,416 |  |  | $ 7,438
Number of loans with 90+ day delinquencies | loan | 51 |  |  | 48
Fair value of loans with 90+ day delinquencies | $ 11,416 |  |  | $ 7,328

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