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Home Equity Investments (HEI) - Schedule of Home Equity Investments (Details)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2023
USD ($)
transaction
Dec. 31, 2021
transaction
Jun. 30, 2024
USD ($)
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] $ 550,436   $ 574,119 $ 550,436  
Redwood          
Schedule of Equity Method Investments [Line Items]          
Home equity investments 244,719   253,303 244,719  
HEI held at consolidated HEI securitization entities          
Schedule of Equity Method Investments [Line Items]          
Home equity investments $ 305,717   $ 320,816 $ 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 June 30, 2024 and December 31, 2023, assets of consolidated VIEs totaled $12,844,193 and $10,988,885, respectively. At June 30, 2024 and December 31, 2023, liabilities of consolidated VIEs totaled $11,866,962 and $10,096,308, respectively. See Note 15 for further discussion.