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Business Purpose Loans - Activity and Characteristics of Business Purpose Loans (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023 USD ($) loan	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) loan	Sep. 30, 2022 USD ($)	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			$ 1,051,236	$ 3,734,972
Principal balance of loans sold to third parties			950	26,584
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	$ 105,777	$ 99,281	408,477	865,253
Principal balance of loans acquired	0	0	0	100,349
Principal balance of loans sold to third parties	27,436	37,202	425,542	368,704
Fair value of loans transferred	(278,751)	266,181	(278,751)	561,218
Gain (loss) on investments	0	0	(14,430)	0
Fair value of loans	72,149		72,149		$ 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	1,600	(19,325)	13,214	(83,827)
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	303,284	470,425	828,149	1,424,604
Principal balance of loans acquired	1,820	59,977	19,054	81,983
Principal balance of loans sold to third parties	34,061	48,279	65,868	48,279
Fair value of loans transferred	(116,679)	(77,362)	(337,657)	(465,966)
Gain (loss) on investments	(16,899)	(679)	(22,867)	(6,747)
Fair value of loans	1,651,883		1,651,883		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	1,438	(110)	4,808	1,129
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	(1,360)	(108,980)	(1,961)	(419,182)
Transfers	278,751	0	$ 278,751	0
Number of loans | loan			1,093		1,131
Unpaid principal balance	3,283,186		$ 3,283,186		$ 3,263,421
Fair value of loans	$ 2,969,217		$ 2,969,217		$ 2,944,984
Weighted average coupon (as a percent)	5.35%		5.35%		5.22%
Weighted average remaining loan term (years)			5 years		6 years
Fair value of loans with 90+ day delinquencies	$ 4,557		$ 4,557		$ 13,686
Number of loans in foreclosure | loan	6		6		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	43		43		16
Fair value of loans with 90+ day delinquencies	$ 102,676		$ 102,676		$ 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	(2,560)	1,906	(1,960)	50
Transfers	116,679	$ 0	$ 337,657	$ 0
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			45		91
Unpaid principal balance	83,300		$ 83,300		$ 389,846
Fair value of loans	$ 72,149		$ 72,149		$ 358,791
Weighted average coupon (as a percent)	6.98%		6.98%		5.98%
Weighted average remaining loan term (years)			8 years		10 years
Fair value of loans with 90+ day delinquencies	$ 27,836		$ 27,836		$ 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			789		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			46,915		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	$ 27,836		$ 27,836		$ 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			1,853		1,601
Unpaid principal balance	1,704,418		$ 1,704,418		$ 1,518,427
Fair value of loans	$ 1,682,511		$ 1,682,511		$ 1,512,428
Weighted average coupon (as a percent)	10.46%		10.46%		9.61%
Weighted average remaining loan term (years)			1 year		2 years
Fair value of loans with 90+ day delinquencies	$ 56,272		$ 56,272		$ 34,039
Number of loans in foreclosure | loan	42		42		48
Unpaid principal balance of loans in foreclosure	$ 49,886		$ 49,886		$ 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			91,561		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			1,497,589		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	$ 71,277		$ 71,277		$ 29,663
Number of loans with 90+ day delinquencies | loan	45		45		49
Fair value of loans with 90+ day delinquencies	$ 80,924		$ 80,924		$ 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			1,344		1,875
Unpaid principal balance	521,214		$ 521,214		$ 514,666
Fair value of loans	$ 525,453		$ 525,453		$ 516,383
Weighted average coupon (as a percent)	10.79%		10.79%		9.67%
Weighted average remaining loan term (years)			1 year		1 year
Fair value of loans with 90+ day delinquencies	$ 4,424		$ 4,424		$ 7,328
Number of loans in foreclosure | loan	49		49		48
Unpaid principal balance of loans in foreclosure	$ 4,424		$ 4,424		$ 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	$ 7,656		$ 7,656		$ 7,438
Number of loans with 90+ day delinquencies | loan	56		56		48
Fair value of loans with 90+ day delinquencies	$ 7,656		$ 7,656		$ 7,328
BPL bridge loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Unpaid principal balance	216,000		216,000
Fair value of loans	203,000		203,000
Unpaid principal balance of loans modified	174,000		174,000
BPL bridge loans | Redwood
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Fair value of loans	1,682,511		1,682,511		1,512,428
BPL Term | Redwood
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Fair value of loans	$ 72,149		$ 72,149		$ 358,791

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The cash inflow from repayments of the balance excluding interest (principal) on real estate securities.

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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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The aggregate cash outflow used to purchase all loans that are held with the intention to resell in the near future.

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