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Home Equity Investments (HEI) - HEI Characteristics (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
--- | --- | --- | ---
Jun. 30, 2024 USD ($) Contract | Jun. 30, 2023 USD ($) | Jun. 30, 2024 USD ($) Contract | Jun. 30, 2023 USD ($) | Dec. 31, 2023 USD ($) Contract
Schedule of Equity Method Investments [Line Items] |  |  |  |  |
Total HEI income, net | $ 15,839 | $ 8,921 | $ 24,870 | $ 13,186 |
Amortization of deferred loss | 200,124 | 152,885 | 380,654 | 304,964 |
Net market valuation gains recorded on HEI at Redwood |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |
Total HEI income, net | 11,663 | 8,468 | 17,806 | 12,308 |
Net market valuation gains recorded on Securitized HEI |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |
Total HEI income, net | 17,029 | 3,138 | 32,453 | 4,206 |
ABS Issued From HEI Securitization |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |
Total HEI income, net | (5,472) | (1,888) | (12,881) | (1,762) |
Amortization of deferred loss |  |  | 3,000 | 1,000 |
Net market valuation (losses) recorded on non-controlling interests in HEI securitizations |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |
Total HEI income, net | $ (7,381) | $ (797) | $ (12,508) | $ (1,566) |
HEI at Redwood |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |
Number of HEI contracts | Contract | 1,959 |  | 1,959 |  | 2,034
Average initial amount of contract | $ 105 |  | $ 105 |  | $ 105
Securitized HEI |  |  |  |  |
Schedule of Equity Method Investments [Line Items] |  |  |  |  |
Number of HEI contracts | Contract | 2,317 |  | 2,317 |  | 2,434
Average initial amount of contract | $ 95 |  | $ 95 |  | $ 96

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