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Principles of Consolidation - Summary of Unconsolidated Variable Interest Entity's Sponsored by Redwood (Details) - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
On-balance sheet assets, at fair value:    
Subordinate securities, classified as AFS $ 97,496 $ 132,146
Total Subordinate Investment Securities    
On-balance sheet assets, at fair value:    
Subordinate securities, classified as AFS 97,496 132,146
Variable Interest Entity, Not Primary Beneficiary    
On-balance sheet assets, at fair value:    
Maximum loss exposure 118,536 114,678
Assets transferred:    
Principal balance of loans outstanding 3,912,490 4,052,922
Principal balance of loans 30+ days delinquent 26,036 27,739
Variable Interest Entity, Not Primary Beneficiary | Total Subordinate Investment Securities    
On-balance sheet assets, at fair value:    
Subordinate securities, classified as AFS 77,047 74,367
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 29,868 28,722
Mortgage servicing rights    
On-balance sheet assets, at fair value:    
Mortgage servicing rights 26,242 25,421
Mortgage servicing rights | Variable Interest Entity, Not Primary Beneficiary    
On-balance sheet assets, at fair value:    
Mortgage servicing rights $ 11,621 $ 11,589