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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