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Business Purpose Loans - Classifications and Carrying Values of Business Purpose Residential Loans (Details) - USD ($) $ in Thousands | 9 Months Ended |
--- | --- | ---
Sep. 30, 2023 | Dec. 31, 2022
SOFR |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Real estate owned, rate (as a percent) | 78.00% |
Fixed Rate |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Real estate owned, rate (as a percent) | 22.00% |
Commitment To Fund Residential Bridge Loan |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Commitment to fund loan | $ 623,000 |
BPL bridge loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | $ 203,000 |
Bridge Loans | Minimum |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Residential bridge loans held-for-investment, original maturities (in months) | 6 months |
Bridge Loans | Maximum |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Residential bridge loans held-for-investment, original maturities (in months) | 36 months |
Held-for-sale at fair value, Total |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | $ 102,777 | $ 364,073
Held-for-investment at fair value, Total |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 5,146,553 | 4,968,513
Business Purpose Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 5,249,330 | 5,332,586
Redwood | Single-family rental loans, held-for-sale |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 72,149 | 358,791
Redwood | Single Family Rental Loans Held For Investment At Fair Value |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 0 | 0
Redwood | BPL Term |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 72,149 | 358,791
Redwood | Residential Bridge, Held-for-sale at fair value |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 30,628 | 5,282
Redwood | BPL bridge loans held-for-investment |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 1,651,883 | 1,507,146
Redwood | BPL bridge loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 1,682,511 | 1,512,428
CAFL | Single-family rental loans, held-for-sale |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 0 | 0
CAFL | Single Family Rental Loans Held For Investment At Fair Value |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 2,969,217 | 2,944,984
CAFL | BPL Term |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 2,969,217 | 2,944,984
CAFL | Bridge Loans, Held-For-Sale At Fair Value |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 0 | 0
CAFL | Bridge Loans Held For Investment At Fair Value |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 525,453 | 516,383
CAFL | Bridge Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | $ 525,453 | $ 516,383

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