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Home Equity Investments (HEI) - HEI Characteristics (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Schedule of Equity Method Investments [Line Items]        
Total HEI income, net $ 10,651 $ 10,259 $ 35,521 $ 23,445
Interest expense 223,145 156,723 603,799 461,687
Net market valuation gains recorded on HEI at Redwood        
Schedule of Equity Method Investments [Line Items]        
Total HEI income, net 5,812 9,291 23,618 21,599
Net market valuation gains recorded on Securitized HEI        
Schedule of Equity Method Investments [Line Items]        
Total HEI income, net 19,407 4,212 51,859 8,418
ABS Issued From HEI Securitization        
Schedule of Equity Method Investments [Line Items]        
Total HEI income, net (5,964) (1,512) (18,845) (3,274)
Interest expense 3,000 1,000 9,000 3,000
Net market valuation (losses) recorded on non-controlling interests in HEI securitizations        
Schedule of Equity Method Investments [Line Items]        
Total HEI income, net $ (8,604) $ (1,732) $ (21,111) $ (3,298)