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Residential Investor Loans - Activity and Characteristics of Residential Investor Loans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Principal balance of loans originated			$ 2,901,465	$ 242,235
Principal payments on real estate securities			669	637
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	$ 217,538	$ 128,622	334,628	302,700
Principal balance of loans acquired	648	0	648	0
Principal payments on real estate securities	252,424	180,404	258,456	398,106
Fair value of loans transferred	0	0	0	0
Net market valuation gains (losses) recorded	(337)	(13,625)	(1,337)	(13,625)
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]
Net market valuation gains (losses) recorded	5,957	(1,132)	5,661	11,534
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	234,115	269,713	428,144	524,865
Principal balance of loans acquired	0	8,149	15,677	17,234
Principal payments on real estate securities	156,294	19,260	209,515	31,807
Fair value of loans transferred	(89,202)	(140,186)	(187,933)	(220,978)
Net market valuation gains (losses) recorded	(13,992)	(8,778)	(17,210)	(7,266)
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]
Net market valuation gains (losses) recorded	1,108	2,291	2,054	3,453
Total Residential Investor Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Fair value of loans	4,879,650		4,879,650		$ 5,220,298
Total Residential Investor Loans | CAFL
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Net market valuation gains (losses) recorded	3,530	(37,780)	11,113	(601)
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	0	0
Unpaid principal balance	2,946,186		2,946,186		3,194,131
Average UPB of loans	3,044		3,044		3,028
Fair value of loans	$ 2,737,466		$ 2,737,466		$ 2,971,725
Weighted average coupon	5.34%		5.34%		5.34%
Weighted average remaining loan term (years)			5 years		5 years
Fair value of loans with 90+ day delinquencies	$ 18,646		$ 18,646		$ 15,708
Average UPB of 90+ days delinquent loans (2)	2,664		2,664		2,244
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]
Fair value of loans with 90+ day delinquencies	139,628		139,628		143,623
Average UPB of 90+ days delinquent loans (2)	3,103		3,103		3,192
Bridge at CAFL | CAFL
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Net market valuation gains (losses) recorded	(4,870)	1,192	(1,180)	600
Fair value of loans transferred to HFI	89,202	$ 140,186	187,933	$ 220,978
Single-Family Rental Loans, Held-For-Sale | Redwood
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Unpaid principal balance	228,059		228,059		152,213
Average UPB of loans	2,887		2,887		4,006
Fair value of loans	$ 217,761		$ 217,761		$ 144,359
Weighted average coupon	7.20%		7.20%		6.92%
Weighted average remaining loan term (years)			7 years		7 years
Fair value of loans with 90+ day delinquencies	$ 27,529		$ 27,529		$ 28,263
Average UPB of 90+ days delinquent loans (2)	27,529		27,529		14,132
Unpaid principal balance of loans in foreclosure	14,750		14,750		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	14,750		14,750		16,822
Fair value of loans with 90+ day delinquencies	27,529		27,529		28,263
Average UPB of 90+ days delinquent loans (2)	27,529		27,529		14,132
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]
Net market valuation gains (losses) recorded			166,221		124,934
Business Purpose Bridge Loans | Redwood
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Unpaid principal balance	1,266,729		1,266,729		1,360,957
Average UPB of loans	7,917		7,917		8,453
Fair value of loans	$ 1,238,795		$ 1,238,795		$ 1,341,618
Weighted average coupon	10.19%		10.19%		10.41%
Weighted average remaining loan term (years)			1 year		1 year
Fair value of loans with 90+ day delinquencies	$ 87,804		$ 87,804		$ 79,841
Average UPB of 90+ days delinquent loans (2)	7,317		7,317		5,323
Unpaid principal balance of loans in foreclosure	76,299		76,299		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	94,730		94,730		86,137
Fair value of loans with 90+ day delinquencies	107,094		107,094		96,934
Average UPB of 90+ days delinquent loans (2)	7,650		7,650		5,702
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]
Net market valuation gains (losses) recorded			1,201,822		1,298,198
Business Purpose Bridge Loans | CAFL
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Unpaid principal balance	680,187		680,187		756,574
Average UPB of loans	2,001		2,001		2,162
Fair value of loans	$ 685,627		$ 685,627		$ 762,596
Weighted average coupon	10.59%		10.59%		10.82%
Weighted average remaining loan term (years)			1 year		1 year
Fair value of loans with 90+ day delinquencies	$ 13,771		$ 13,771		$ 3,931
Average UPB of 90+ days delinquent loans (2)	1,967		1,967		1,310
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]
Fair value of loans with 90+ day delinquencies	20,593		20,593		10,646
Average UPB of 90+ days delinquent loans (2)	$ 1,872		$ 1,872		$ 1,774

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The cash inflow from repayments of the balance excluding interest (principal) on real estate securities.

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Amount of realized and unrealized gain (loss) on investment.

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