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Principles of Consolidation - Schedule of Unconsolidated Variable Interest Entity's Sponsored by Redwood (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
On-balance sheet assets, at fair value:    
Carrying Value $ 87,373 $ 132,146
Total Subordinate    
On-balance sheet assets, at fair value:    
Carrying Value 87,373 132,146
Variable Interest Entity, Not Primary Beneficiary    
On-balance sheet assets, at fair value:    
Maximum loss exposure 121,517 114,678
Assets transferred:    
Principal balance of loans outstanding 3,758,914 4,052,922
Principal balance of loans 30+ days delinquent 22,367 27,739
Variable Interest Entity, Not Primary Beneficiary | Total Subordinate    
On-balance sheet assets, at fair value:    
Carrying Value 78,942 74,367
Interest-only, senior and subordinate securities, classified as trading | Variable Interest Entity, Not Primary Beneficiary    
On-balance sheet assets, at fair value:    
Debt securities, trading 31,690 28,722
Mortgage servicing rights    
On-balance sheet assets, at fair value:    
Servicing asset, fair value 24,877 25,421
Mortgage servicing rights | Variable Interest Entity, Not Primary Beneficiary    
On-balance sheet assets, at fair value:    
Servicing asset, fair value $ 10,885 $ 11,589