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Principles of Consolidation - Schedule of Unconsolidated Variable Interest Entity's Sponsored by Redwood (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
On-balance sheet assets, at fair value:    
Subordinate securities, classified as AFS $ 110,087 $ 87,373
Subordinate securities, classified as AFS    
On-balance sheet assets, at fair value:    
Subordinate securities, classified as AFS 100,868 87,373
Variable Interest Entity, Not Primary Beneficiary    
On-balance sheet assets, at fair value:    
Maximum loss exposure 135,152 121,517
Assets transferred:    
Principal balance of loans outstanding 3,702,972 3,758,914
Principal balance of loans 30+ days delinquent 22,779 22,367
Variable Interest Entity, Not Primary Beneficiary | Subordinate securities, classified as AFS    
On-balance sheet assets, at fair value:    
Subordinate securities, classified as AFS 87,647 78,942
Interest-only, senior and subordinate securities, classified as trading | Variable Interest Entity, Not Primary Beneficiary    
On-balance sheet assets, at fair value:    
Interest-only, senior and subordinate securities, classified as trading 35,709 31,690
Mortgage servicing rights    
On-balance sheet assets, at fair value:    
Mortgage servicing rights 27,417 24,877
Mortgage servicing rights | Variable Interest Entity, Not Primary Beneficiary    
On-balance sheet assets, at fair value:    
Mortgage servicing rights $ 11,796 $ 10,885