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Business Purpose Loans - Schedule of Classifications and Carrying Values of Business Purpose Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022
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Held-for-sale at fair value, Total |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | $ 180,250 | $ 364,073
Held-for-investment at fair value, Total |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 5,040,048 | 4,968,513
Business Purpose Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 5,220,298 | 5,332,586
HEI at Redwood | Held-for-sale at fair value, Total | BPL Term Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 144,359 | 358,791
HEI at Redwood | Held-for-sale at fair value, Total | BPL Bridge Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 35,891 | 5,282
HEI at Redwood | Held-for-investment at fair value, Total | BPL Term Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 0 | 0
HEI at Redwood | Held-for-investment at fair value, Total | BPL Bridge Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 1,305,727 | 1,507,146
HEI at Redwood | Business Purpose Loans | BPL Term Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 144,359 | 358,791
HEI at Redwood | Business Purpose Loans | BPL Bridge Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 1,341,618 | 1,512,428
CAFL | Held-for-sale at fair value, Total | BPL Term Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 0 | 0
CAFL | Held-for-sale at fair value, Total | BPL Bridge Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 0 | 0
CAFL | Held-for-investment at fair value, Total | BPL Term Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 2,971,725 | 2,944,984
CAFL | Held-for-investment at fair value, Total | BPL Bridge Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 762,596 | 516,383
CAFL | Business Purpose Loans | BPL Term Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 2,971,725 | 2,944,984
CAFL | Business Purpose Loans | BPL Bridge Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | $ 762,596 | $ 516,383

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