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Business Purpose Loans - Activity and Characteristics of Business Purpose Loans (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023 USD ($) loan	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) loan	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) loan
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Principal balance of loans originated			$ 242,235	$ 3,395,459
Principal balance of loans sold to third parties			637	26,033
Fair value of loans transferred			1,137,194	1,953,421
Single-family rental loans, held-for-sale | Redwood
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Principal balance of loans originated	$ 128,622	$ 323,245	302,700	765,972
Principal balance of loans acquired	0	38,457	0	100,349
Principal balance of loans sold to third parties	180,404	0	398,106	331,502
Fair value of loans transferred	0	295,037	0	295,037
Gain (loss) on investments	(13,625)	0	(13,625)	0
Fair value of loans	269,886		269,886		$ 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	(1,132)	(40,034)	11,534	(64,502)
BPL bridge loans held-for-investment | Redwood
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Principal balance of loans originated	269,713	542,241	524,865	954,179
Principal balance of loans acquired	8,149	19,023	17,234	22,006
Principal balance of loans sold to third parties	19,260	0	31,807	0
Fair value of loans transferred	140,186	306,313	220,978	388,604
Gain (loss) on investments	(8,778)	(5,309)	(7,266)	(6,068)
Fair value of loans	1,663,802		1,663,802		1,507,146
BPL bridge 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	2,291	(1,136)	3,453	1,240
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		$ 0
Single Family Rental Loans Held For Investment At Fair Value | Redwood | CAFL
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Fair value of loans transferred	28,000
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	(37,780)	(118,299)	(601)	(310,202)
Transfers	0	295,037	$ 0	295,037
Number of loans | loan			1,072		1,131
Unpaid principal balance	3,101,083		$ 3,101,083		$ 3,263,421
Fair value of loans	$ 2,783,731		$ 2,783,731		$ 2,944,984
Weighted average coupon rate (as a percent)	5.20%		5.20%		5.22%
Weighted average remaining loan term (years)			5 years		6 years
Fair value of loans with 90+ day delinquencies	$ 8,183		$ 8,183		$ 13,686
Number of loans in foreclosure | loan	7		7		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	45		45		16
Fair value of loans with 90+ day delinquencies	$ 99,198		$ 99,198		$ 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	1,192	(281)	600	(1,856)
Transfers	140,186	$ 306,313	$ 220,978	$ 388,604
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			60		91
Unpaid principal balance	283,650		$ 283,650		$ 389,846
Fair value of loans	$ 269,886		$ 269,886		$ 358,791
Weighted average coupon rate (as a percent)	6.96%		6.96%		5.98%
Weighted average remaining loan term (years)			7 years		10 years
Fair value of loans with 90+ day delinquencies	$ 28,494		$ 28,494		$ 536
Number of loans in foreclosure | loan	2		2		1
Unpaid principal balance of loans in foreclosure	$ 16,822		$ 16,822		$ 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			196,538		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			20,564		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	$ 16,822		$ 16,822		$ 536
Number of loans with 90+ day delinquencies | loan	2		2		1
Fair value of loans with 90+ day delinquencies	$ 28,494		$ 28,494		$ 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			1,341		1,601
Unpaid principal balance	1,687,258		$ 1,687,258		$ 1,518,427
Fair value of loans	$ 1,676,752		$ 1,676,752		$ 1,512,428
Weighted average coupon rate (as a percent)	10.74%		10.74%		9.61%
Weighted average remaining loan term (years)			1 year		2 years
Fair value of loans with 90+ day delinquencies	$ 55,238		$ 55,238		$ 34,039
Number of loans in foreclosure | loan	52		52		48
Unpaid principal balance of loans in foreclosure	$ 48,306		$ 48,306		$ 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			587,094		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			971,338		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	$ 81,378		$ 81,378		$ 29,663
Number of loans with 90+ day delinquencies | loan	53		53		49
Fair value of loans with 90+ day delinquencies	$ 93,045		$ 93,045		$ 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			1,683		1,875
Unpaid principal balance	491,909		$ 491,909		$ 514,666
Fair value of loans	$ 496,354		$ 496,354		$ 516,383
Weighted average coupon rate (as a percent)	10.93%		10.93%		9.67%
Weighted average remaining loan term (years)			1 year		1 year
Fair value of loans with 90+ day delinquencies	$ 10,016		$ 10,016		$ 7,328
Number of loans in foreclosure | loan	50		50		48
Unpaid principal balance of loans in foreclosure	$ 9,431		$ 9,431		$ 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	$ 10,489		$ 10,489		$ 7,438
Number of loans with 90+ day delinquencies | loan	53		53		48
Fair value of loans with 90+ day delinquencies	$ 12,196		$ 12,196		$ 7,328

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Number of mortgage loans within investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate.

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Amount of realized and unrealized gain (loss) on investment.

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