Business Purpose Loans - Classifications and Carrying Values of Business Purpose Residential Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Real estate amount, amount with original maturity of thirty years (as a percent)	1.00%
LIBOR
Accounts, Notes, Loans and Financing Receivable [Line Items]
Real estate owned, rate (as a percent)	35.00%
SOFR
Accounts, Notes, Loans and Financing Receivable [Line Items]
Real estate owned, rate (as a percent)	57.00%
Fixed Rate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Real estate owned, rate (as a percent)	8.00%
Commitment To Fund Residential Bridge Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Commitment to fund loan	$ 811,000
Bridge Loans | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential bridge loans held-for-investment, original maturities (in months)	6 months
Bridge Loans | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Residential bridge loans held-for-investment, original maturities (in months)	36 months
Held-for-sale at fair value, Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	$ 371,385	$ 364,073
Held-for-investment at fair value, Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	4,993,264	4,968,513
Business Purpose Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	5,364,649	5,332,586
Redwood | Single-family rental loans, held-for-sale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	354,166	358,791
Redwood | Single Family Rental Loans Held For Investment At Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	0	0
Redwood | Single family rental loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	354,166	358,791
Redwood | Residential Bridge, Held-for-sale at fair value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	17,219	5,282
Redwood | Business Purpose loans held-for-investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	1,616,610	1,507,146
Redwood | BPL bridge loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	1,633,829	1,512,428
CAFL | Single-family rental loans, held-for-sale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	0	0
CAFL | Single Family Rental Loans Held For Investment At Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	2,891,043	2,944,984
CAFL | Single family rental loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	2,891,043	2,944,984
CAFL | Bridge Loans, Held-For-Sale At Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	0	0
CAFL | Bridge Loans Held For Investment At Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	485,611	516,383
CAFL | Bridge Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value of loans	$ 485,611	$ 516,383