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Fair Value of Financial Instruments - Quantitative Information about Significant Unobservable Inputs Used in Valuation of Level 3 Assets and Liabilities Measured at Fair Value (Details) | 12 Months Ended
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Dec. 31, 2017 USD ($) $ / loan
ABS Issued Securities |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 1,164,585,000
ABS Issued Securities | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 8.00%
Loss severity | 20.00%
Discount rate | 3.00%
Default rate | 0.00%
ABS Issued Securities | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 25.00%
Loss severity | 54.00%
Discount rate | 15.00%
Default rate | 16.00%
ABS Issued Securities | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 17.00%
Loss severity | 23.00%
Discount rate | 4.00%
Default rate | 3.00%
Jumbo fixed rate loans |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 3,372,329,000
Jumbo fixed rate loans | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA price (in dollars per loan) | $ / loan | 2.25
Whole loan spread to swap rate | 1.75%
Jumbo fixed rate loans | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA price (in dollars per loan) | $ / loan | 3.11
Whole loan spread to swap rate | 2.25%
Jumbo fixed rate loans | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA price (in dollars per loan) | $ / loan | 3.09
Whole loan spread to swap rate | 2.24%
Jumbo hybrid loans |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 251,847,000
Jumbo hybrid loans | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to swap rate | 1.00%
Prepayment rate (annual CPR) | 15.00%
Jumbo hybrid loans | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to swap rate | 1.85%
Prepayment rate (annual CPR) | 15.00%
Jumbo hybrid loans | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to swap rate | 1.59%
Prepayment rate (annual CPR) | 15.00%
Jumbo loans committed to sell |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 237,262,000
Jumbo loans committed to sell | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan committed sales price (in dollars per loan) | $ / loan | 100.78
Jumbo loans committed to sell | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan committed sales price (in dollars per loan) | $ / loan | 103.01
Jumbo loans committed to sell | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan committed sales price (in dollars per loan) | $ / loan | 101.42
Legacy Sequoia |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 632,817,000
Sequoia Choice |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | 620,062,000
Residential loans, at lower of cost or fair value |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 854,000
Residential loans, at lower of cost or fair value | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 12.00%
Residential loans, at lower of cost or fair value | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 30.00%
Residential loans, at lower of cost or fair value | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 18.00%
Trading and AFS securities |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 1,476,510,000
Trading and AFS securities | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 0.00%
Loss severity | 0.00%
Discount rate | 3.00%
Default rate | 0.00%
Trading and AFS securities | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 50.00%
Loss severity | 40.00%
Discount rate | 15.00%
Default rate | 27.00%
Trading and AFS securities | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 10.00%
Loss severity | 22.00%
Discount rate | 5.00%
Default rate | 3.00%
MSRs |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 63,598,000
MSRs | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 5.00%
Discount rate | 10.00%
Per loan annual cost to service (in dollars per loan) | $ 79
MSRs | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 26.00%
Discount rate | 130.00%
Per loan annual cost to service (in dollars per loan) | $ 82
MSRs | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 9.00%
Discount rate | 11.00%
Per loan annual cost to service (in dollars per loan) | $ 82
Guarantee asset |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 2,869,000
Guarantee asset | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 13.00%
Discount rate | 11.00%
Guarantee asset | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 13.00%
Discount rate | 11.00%
Guarantee asset | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 13.00%
Discount rate | 11.00%
REO |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 2,034,000
REO | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 6.00%
REO | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 42.00%
REO | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 21.00%
Loan purchase commitments |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 462,000
Loan purchase commitments | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA price (in dollars per loan) | $ / loan | 2.25
Whole loan spread to swap rate | 1.75%
Prepayment rate (annual CPR) | 15.00%
MSR multiple | 1.7
Pull-through rate | 9.00%
Whole loan spread to swap rate - hybrid | 1.00%
Loan purchase commitments | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA price (in dollars per loan) | $ / loan | 3.10
Whole loan spread to swap rate | 2.25%
Prepayment rate (annual CPR) | 15.00%
MSR multiple | 5.1
Pull-through rate | 100.00%
Whole loan spread to swap rate - hybrid | 1.85%
Loan purchase commitments | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA price (in dollars per loan) | $ / loan | 3.06
Whole loan spread to swap rate | 2.25%
Prepayment rate (annual CPR) | 15.00%
MSR multiple | 3.6
Pull-through rate | 75.00%
Whole loan spread to swap rate - hybrid | 1.51%

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- Definition Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Rate at which loans or a loan portfolio are expected to prepay principal balances, used as an input to measure fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Percentage of likelihood a loan will not be repaid and instead default, used as an input to measure fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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