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Residential Loans - Additional Information (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2017 USD ($) loan	Mar. 31, 2016 USD ($)	Dec. 31, 2016 USD ($) loan
Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment	$ 3,472,241,000		$ 3,888,051,000
Transfers from loans held-for-sale to loans held-for-investment	184,996,000	$ 660,818,000
Transfers from loans held-for-investment to loans held-for-sale	$ 0	54,747,000
Fixed-rate loans
Mortgage Loans on Real Estate [Line Items]
Weighted average coupon rate (as a percent)	4.12%
FHLB Chicago | Held-for-sale residential loans
Mortgage Loans on Real Estate [Line Items]
Loans pledged as collateral under borrowing agreement with FHLBC	$ 2,340,000,000
Redwood
Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment	2,726,620,000		3,096,415,000
Sequoia
Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment	$ 745,621,000		$ 791,636,000
Residential Loans
Mortgage Loans on Real Estate [Line Items]
Number of loans (in loans) | loan	516		1,114
Loan Principal	$ 369,000,000		$ 830,000,000
Loan market valuation adjustment	375,000,000		830,000,000
Principal value of loans purchased	1,090,000,000	1,190,000,000
Principal balance of loans sold during period	1,360,000,000	1,240,000,000
Gain (Loss) on assets measured at fair value on a non-recurring basis	(9,000,000)	5,000,000
Loans held-for-investment, in foreclosure	1,000,000
Residential Loans | Jumbo Loan
Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment	$ 375,407,000		$ 834,193,000
Residential Loans | Financing Receivables, Equal to Greater than 90 Days Past Due
Mortgage Loans on Real Estate [Line Items]
Number of loans past due (in loans) | loan	0		0
Residential loans, at lower of cost or fair value
Mortgage Loans on Real Estate [Line Items]
Number of loans (in loans) | loan	7		7
Loan Principal	$ 2,000,000		$ 2,000,000
Loan market valuation adjustment	1,200,000		1,206,000
Loans held-for-investment, delinquent greater than 90 days	$ 300,000		$ 300,000
Number of loans in foreclosure (in loans) | loan	0		0
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 (in loans) | loan	1		1
Residential Loans Held For Investment at Fair Value
Mortgage Loans on Real Estate [Line Items]
Number of loans (in loans) | loan	3,175		3,068
Loan Principal	$ 2,320,000,000		$ 2,230,000,000
Loan market valuation adjustment			$ 2,260,000,000
Number of loans past due (in loans) | loan	1		1
Gain (Loss) on assets measured at fair value on a non-recurring basis	$ (2,000,000)	23,000,000
Loans held-for-investment, delinquent greater than 90 days	$ 200,000		$ 200,000
Number of loans in foreclosure (in loans) | loan	0		0
Transfers from loans held-for-sale to loans held-for-investment	$ 185,000,000	660,000,000
Transfers from loans held-for-investment to loans held-for-sale	$ 0	54,000,000
Weighted average original Fair Isaac Corporation (FICO) score	771
Weighted average original loan-to-value (LTV) (as a percent)	66.00%
Percentage of fixed-rate loans (as a percent)	98.00%
Residential Loans Held For Investment at Fair Value | Hybrid loans
Mortgage Loans on Real Estate [Line Items]
Weighted average coupon rate (as a percent)	4.03%
Residential Loans Held For Investment at Fair Value | Originated Between 2013 and 2017
Mortgage Loans on Real Estate [Line Items]
Percentage of loan portfolio originated in year (as a percent)	95.00%
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 (as a percent)	5.00%
Residential Loans Held For Investment at Fair Value | Sequoia
Mortgage Loans on Real Estate [Line Items]
Number of loans (in loans) | loan	3,601		3,735
Loan Principal	$ 830,000,000		$ 887,000,000
Loan market valuation adjustment	746,000,000		792,000,000
Loans held-for-investment, delinquent greater than 90 days	$ 17,000,000		19,000,000
Weighted average original Fair Isaac Corporation (FICO) score	728
Weighted average original loan-to-value (LTV) (as a percent)	66.00%
Loans held-for-investment, in foreclosure	$ 12,000,000		11,000,000
Valuation adjustment gain (loss)	8,000,000	$ (36,000,000)
Residential Loans Held For Investment at Fair Value | Jumbo Loan
Mortgage Loans on Real Estate [Line Items]
Loan market valuation adjustment	3,095,634,000		$ 3,052,652,000
MSRs
Mortgage Loans on Real Estate [Line Items]
Mortgage servicing rights, at amortized cost	$ 1,980,000,000

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Amount of the collateral pledged in support of federal home loan bank advances outstanding.

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