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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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