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Residential Investor Loans - Activity and Characteristics of Residential Investor Loans (Details) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2024 USD ($) loan | Mar. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) loan
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Principal balance of loans originated | $ 1,001,793 | $ 55,824 |
Principal payments on real estate securities | 294 | 255 |
Residential Investor Term at Redwood | Redwood |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Principal balance of loans originated | 117,090 | 174,078 |
Principal balance of loans acquired | 0 | 0 |
Principal payments on real estate securities | 6,032 | 217,702 |
Fair value of loans transferred | 0 | 0 |
Gain (loss) on investments | (1,000) | 0 |
Residential Investor Term at Redwood | 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 | (296) | 12,700 |
Residential investor 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 | 194,029 | 255,152 |
Principal balance of loans acquired | 15,677 | 9,085 |
Principal payments on real estate securities | 53,221 | 12,547 |
Fair value of loans transferred | (98,731) | (80,792) |
Gain (loss) on investments | (3,218) | 1,608 |
Residential investor 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 | 946 | 1,119 |
Construction Draws On Residential Investor Bridge Loans | Redwood |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Principal payments on real estate securities | 15,000 |  |
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] |  |  |
Fair value of loans transferred to HFI | $ 0 | 0 |
Number of loans | loan | 1,022 |  | 1,055
Unpaid principal balance | $ 3,066,563 |  | $ 3,194,131
Fair value of loans | $ 2,853,052 |  | $ 2,971,725
Weighted average coupon | 5.34% |  | 5.34%
Weighted average remaining loan term (years) | 5 years |  | 5 years
Fair value of loans with 90+ day delinquencies | $ 25,158 |  | $ 15,708
Number of loans in foreclosure | loan | 10 |  | 7
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 | 42 |  | 45
Fair value of loans with 90+ day delinquencies | $ 137,447 |  | $ 143,623
Total Residential Investor Loans |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Fair value of loans | 5,181,994 |  | $ 5,220,298
Total Residential Investor Loans | CAFL |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Gain (loss) on investments | 7,583 | 37,179 |
Residential Investor Bridge at CAFL | CAFL |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |
Gain (loss) on investments | 3,690 | (592) |
Fair value of loans transferred to HFI | $ 98,731 | $ 80,792 |
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 | 73 |  | 38
Unpaid principal balance | $ 263,048 |  | $ 152,213
Fair value of loans | $ 253,774 |  | $ 144,359
Weighted average coupon | 6.95% |  | 6.92%
Weighted average remaining loan term (years) | 7 years |  | 7 years
Fair value of loans with 90+ day delinquencies | $ 28,064 |  | $ 28,263
Number of loans in foreclosure | loan | 2 |  | 2
Unpaid principal balance of loans in foreclosure | $ 15,623 |  | $ 16,822
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 | $ 15,623 |  | $ 16,822
Number of loans with 90+ day delinquencies | loan | 2 |  | 2
Fair value of loans with 90+ day delinquencies | $ 28,064 |  | $ 28,263
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 | 5,307 |  | 2,393
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 | $ 212,589 |  | $ 122,541
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 | 850 |  | 925
Unpaid principal balance | $ 1,336,820 |  | $ 1,360,957
Fair value of loans | $ 1,313,010 |  | $ 1,341,618
Weighted average coupon | 10.35% |  | 10.41%
Weighted average remaining loan term (years) | 1 year |  | 1 year
Fair value of loans with 90+ day delinquencies | $ 76,483 |  | $ 79,841
Number of loans in foreclosure | loan | 34 |  | 36
Unpaid principal balance of loans in foreclosure | $ 64,999 |  | $ 69,046
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 | $ 81,326 |  | $ 86,137
Number of loans with 90+ day delinquencies | loan | 48 |  | 54
Fair value of loans with 90+ day delinquencies | $ 92,810 |  | $ 96,934
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 | 35,653 |  | 92,832
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 | $ 1,223,044 |  | $ 1,205,366
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 | 1,849 |  | 1,912
Unpaid principal balance | $ 752,084 |  | $ 756,574
Fair value of loans | $ 762,158 |  | $ 762,596
Weighted average coupon | 10.62% |  | 10.82%
Weighted average remaining loan term (years) | 1 year |  | 1 year
Fair value of loans with 90+ day delinquencies | $ 5,295 |  | $ 3,931
Number of loans in foreclosure | loan | 59 |  | 47
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] |  |  |
Number of loans with 90+ day delinquencies | loan | 61 |  | 52
Fair value of loans with 90+ day delinquencies | $ 11,741 |  | $ 10,646

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