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Principles of Consolidation - Schedule of Unconsolidated Variable Interest Entity's Sponsored by Redwood (Details) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
On-balance sheet assets, at fair value:    
Subordinate securities, classified as AFS $ 81,404 $ 132,146
Subordinate securities, classified as AFS    
On-balance sheet assets, at fair value:    
Subordinate securities, classified as AFS 81,404 132,146
Variable Interest Entity, Not Primary Beneficiary    
On-balance sheet assets, at fair value:    
Maximum loss exposure 117,494 114,678
Assets transferred:    
Principal balance of loans outstanding 3,830,002 4,052,922
Principal balance of loans 30+ days delinquent 18,498 27,739
Variable Interest Entity, Not Primary Beneficiary | Subordinate securities, classified as AFS    
On-balance sheet assets, at fair value:    
Subordinate securities, classified as AFS 73,160 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 32,772 28,722
Mortgage servicing rights    
On-balance sheet assets, at fair value:    
Mortgage servicing rights 26,033 25,421
Mortgage servicing rights | Variable Interest Entity, Not Primary Beneficiary    
On-balance sheet assets, at fair value:    
Mortgage servicing rights $ 11,562 $ 11,589