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Principles of Consolidation - Schedule of Unconsolidated Variable Interest Entity's Sponsored by Redwood (Details) - USD ($) $ in Thousands | Sep. 30, 2024 | Dec. 31, 2023
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On-balance sheet assets, at fair value: |  |
Subordinate securities, classified as AFS | $ 205,361 | $ 87,373
Variable Interest Entity, Not Primary Beneficiary |  |
On-balance sheet assets, at fair value: |  |
Maximum loss exposure | 140,378 | 121,517
Variable Interest Entity, Not Primary Beneficiary | Subordinate securities, classified as AFS |  |
On-balance sheet assets, at fair value: |  |
Subordinate securities, classified as AFS | 95,234 | 78,942
Interest-only, senior and subordinate securities, classified as trading | Variable Interest Entity, Not Primary Beneficiary |  |
On-balance sheet assets, at fair value: |  |
Interest-only, senior and subordinate securities, classified as trading | 33,743 | 31,690
Mortgage servicing rights |  |
On-balance sheet assets, at fair value: |  |
Mortgage servicing rights | 26,594 | 24,877
Mortgage servicing rights | Variable Interest Entity, Not Primary Beneficiary |  |
On-balance sheet assets, at fair value: |  |
Mortgage servicing rights | $ 11,401 | $ 10,885

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