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Residential Loans - Additional Information (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended
--- | --- | --- | ---
Sep. 30, 2016 USD ($) loan | Sep. 30, 2015 USD ($) | Sep. 30, 2016 USD ($) loan | Sep. 30, 2015 USD ($) | Dec. 31, 2015 USD ($) Contract loan
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Carrying value of loans | $ 4,311,164 |  | $ 4,311,164 |  | $ 3,928,803
Transfers from loans held-for-sale to loans held-for-investment |  |  | 877,744 | $ 964,013 |
Transfers from loans held-for-investment to loans held-for-sale |  |  | $ 359,005 | 66,918 |
Fixed-rate loans |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Weighted average coupon rate (percent) | 4.13% |  | 4.13% |  |
FHLB Chicago | Held-for-sale residential loans |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Loans pledged as collateral under borrowing agreement with FHLBC | $ 2,270,000 |  | $ 2,270,000 |  |
Sequoia Entities |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Carrying value of loans | 839,976 |  | 839,976 |  | 1,021,870
Redwood |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Carrying value of loans | 3,471,188 |  | $ 3,471,188 |  | $ 2,906,933
Residential Loans |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Number of loans | loan |  |  | 1,528 |  | 1,763
Loan Principal | 1,160,000 |  | $ 1,160,000 |  | $ 1,090,000
Carrying value of loans | 1,190,000 |  | 1,190,000 |  | 1,110,000
Principal value of loans purchased | 1,220,000 | $ 2,910,000 | 3,730,000 | 8,090,000 |
Principal balance of loans sold during period | 755,000 | 2,070,000 | 2,800,000 | 7,000,000 |
Valuation adjustments | 1,000 | (11,000) | 12,000 | (10,000) |
Loan pledged as collateral | 941,000 |  | 941,000 |  |
Loans held-for-investment, in foreclosure | 1,000 |  | 1,000 |  |
Residential Loans | Jumbo Loan |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Carrying value of loans | 1,187,240 |  | 1,187,240 |  | 984,486
Residential Loans | Jumbo Loan | Sequoia Entities |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Carrying value of loans | 0 |  | 0 |  | 0
Residential Loans | Jumbo Loan | Redwood |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Carrying value of loans | $ 1,187,240 |  | $ 1,187,240 |  | 984,486
Residential Loans | Financing Receivables, Equal to Greater than 90 Days Past Due |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Carrying value of loans |  |  |  |  | $ 1,000
Number of loans past due | loan | 0 |  | 0 |  | 1
Number of loans in foreclosure | loan |  |  |  |  | 1
Residential Loans | Financing Receivables, Receivables In Foreclosure |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Carrying value of loans |  |  |  |  | $ 1,000
Residential loans, at lower of cost or fair value |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Number of loans | loan |  |  | 8 |  | 9
Loan Principal | $ 2,000 |  | $ 2,000 |  | $ 2,000
Carrying value of loans | 1,274 |  | 1,274 |  | $ 1,433
Number of loans in foreclosure | loan |  |  |  |  | 1
Loans held-for-investment, delinquent greater than 90 days | 400 |  | 400 |  | $ 400
Loans held-for-investment, in foreclosure | 100 |  | 100 |  | 100
Residential loans, at lower of cost or fair value | Sequoia Entities |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Carrying value of loans | 0 |  | 0 |  | 0
Residential loans, at lower of cost or fair value | Redwood |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Carrying value of loans | $ 1,274 |  | $ 1,274 |  | $ 1,433
Residential loans, at lower of cost or fair value | Financing Receivables, Equal to Greater than 90 Days Past Due |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Number of loans past due | loan | 1 |  | 1 |  | 1
Residential Loans Held For Investment at Fair Value |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Number of loans | loan |  |  | 3,056 |  | 2,398
Loan Principal | $ 2,210,000 |  | $ 2,210,000 |  | $ 1,760,000
Carrying value of loans |  |  |  |  | $ 1,790,000
Valuation adjustments | (1,000) | 9,000 | 22,000 | 5,000 |
Transfers from loans held-for-sale to loans held-for-investment | 152,000 | 300,000 | 878,000 | 962,000 |
Transfers from loans held-for-investment to loans held-for-sale | $ 0 | 67,000 | $ 56,000 |  |
Weighted average original Fair Isaac Corporation (FICO) score | 773 |  | 773 |  |
Weighted average original loan-to-value (LTV) (percent) | 66.00% |  | 66.00% |  |
Percentage of fixed-rate loans | 99.50% |  | 99.50% |  |
Residential Loans Held For Investment at Fair Value | Hybrid loans |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Weighted average coupon rate (percent) | 3.83% |  | 3.83% |  |
Residential Loans Held For Investment at Fair Value | Originated Between 2013 and 2016 |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Percentage of loan portfolio originated in year | 93.00% |  | 93.00% |  |
Residential Loans Held For Investment at Fair Value | Originated 2012 and prior years |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Percentage of loan portfolio originated in year | 7.00% |  | 7.00% |  |
Residential Loans Held For Investment at Fair Value | Sequoia Entities |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Number of loans |  |  | 3,901 |  | 4,545
Loan Principal | $ 943,000 |  | $ 943,000 |  | $ 1,120,000
Carrying value of loans | 840,000 |  | 840,000 |  | 1,020,000
Loans held-for-investment, delinquent greater than 90 days | 19,000 |  | 19,000 |  | 27,000
Loans held-for-investment, in foreclosure | $ 18,000 |  | $ 18,000 |  | 32,000
Weighted average original Fair Isaac Corporation (FICO) score | 728 |  | 728 |  |
Weighted average original loan-to-value (LTV) (percent) | 66.00% |  | 66.00% |  |
Valuation adjustments | $ 9,000 | $ (400) | $ (19,000) | $ 5,000 |
Residential Loans Held For Investment at Fair Value | Jumbo Loan |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Carrying value of loans | 3,122,650 |  | 3,122,650 |  | 2,813,065
Residential Loans Held For Investment at Fair Value | Jumbo Loan | Sequoia Entities |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Carrying value of loans | 839,976 |  | 839,976 |  | 1,021,870
Residential Loans Held For Investment at Fair Value | Jumbo Loan | Redwood |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Carrying value of loans | 2,282,674 |  | 2,282,674 |  | $ 1,791,195
MSRs |  |  |  |  |
Mortgage Loans on Real Estate [Line Items] |  |  |  |  |
Mortgage servicing rights, at amortized cost | $ 2,580,000 |  | $ 2,580,000 |  |

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- Definition Amount after allowance and deduction of deferred interest and fees, unamortized costs and premiums and discounts from face amounts, of consumer loans, including, but not limited to, mortgage, home equity, vehicles, credit card, installment, and lease financing. Excludes loans and leases covered under loss sharing agreements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5066-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5074-111524 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=28367877&loc=d3e4428-111522 + Details
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