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Home Equity Investments (HEI) - Schedule of Home Equity Investments (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
USD ($)
transaction
Dec. 31, 2023
USD ($)
transaction
Sep. 30, 2021
transaction
Dec. 31, 2023
USD ($)
transaction
Dec. 31, 2021
transaction
Equity Method Investments and Joint Ventures [Abstract]          
Number of securitization transactions co-sponsored | transaction 2 2 2 2 2
Schedule of Equity Method Investments [Line Items]          
Home equity investments [1] $ 560,745 $ 550,436   $ 550,436  
Redwood          
Schedule of Equity Method Investments [Line Items]          
Home equity investments 246,561 244,719   244,719  
HEI held at consolidated HEI securitization entities          
Schedule of Equity Method Investments [Line Items]          
Home equity investments $ 314,184 $ 305,717   $ 305,717  
[1] Our consolidated balance sheets include assets of consolidated variable interest entities (“VIEs”) that can only be used to settle obligations of these VIEs and liabilities of consolidated VIEs for which creditors do not have recourse to Redwood Trust, Inc. or its affiliates. At March 31, 2024 and December 31, 2023, assets of consolidated VIEs totaled $11,850,461 and $10,988,885, respectively. At March 31, 2024 and December 31, 2023, liabilities of consolidated VIEs totaled $10,921,862 and $10,096,308, respectively. See Note 4 for further discussion.