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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) | 3 Months Ended
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Mar. 31, 2018 USD ($) $ / loan
ABS Issued |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 1,542,087,000
ABS Issued | 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 | 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 | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 18.00%
Loss severity | 22.00%
Discount rate | 4.00%
Default rate | 3.00%
Loan Forward Sales Commitments |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 1,269,000
Loan Forward Sales Commitments | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA (in dollars per loan) | $ / loan | 2.80
Loan Forward Sales Commitments | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA (in dollars per loan) | $ / loan | 2.80
Loan Forward Sales Commitments | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA (in dollars per loan) | $ / loan | 2.80
Residential Loans Priced To Securitization and Whole Loan Market, Uncommitted to Sell |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 3,162,491,000
Residential Loans Priced To Securitization and Whole Loan Market, Uncommitted to Sell | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA (in dollars per loan) | $ / loan | 1.78
Whole loan spread to swap rate | 1.60%
Residential Loans Priced To Securitization and Whole Loan Market, Uncommitted to Sell | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA (in dollars per loan) | $ / loan | 2.97
Whole loan spread to swap rate | 2.10%
Residential Loans Priced To Securitization and Whole Loan Market, Uncommitted to Sell | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA (in dollars per loan) | $ / loan | 2.90
Whole loan spread to swap rate | 2.00%
Residential Jumbo Hybrid Loans Priced To Whole Loan Market Uncommitted To Sell |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 258,789,000
Residential Jumbo Hybrid Loans Priced To Whole Loan Market Uncommitted To Sell | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to swap rate | 0.90%
Prepayment rate (annual CPR) | 15.00%
Residential Jumbo Hybrid Loans Priced To Whole Loan Market Uncommitted To Sell | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to swap rate | 1.65%
Prepayment rate (annual CPR) | 15.00%
Residential Jumbo Hybrid Loans Priced To Whole Loan Market Uncommitted To Sell | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to swap rate | 1.48%
Prepayment rate (annual CPR) | 15.00%
Residential Loans Priced To Whole Loan Market and Committed to Sell |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 84,395,000
Residential Loans Priced To Whole Loan Market and Committed to Sell | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan committed sales price (in dollars per loan) | $ / loan | 100.56
Residential Loans Priced To Whole Loan Market and Committed to Sell | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan committed sales price (in dollars per loan) | $ / loan | 101.32
Residential Loans Priced To Whole Loan Market and Committed to Sell | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan committed sales price (in dollars per loan) | $ / loan | 101.12
Legacy Sequoia |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 626,151,000
Sequoia Choice |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | 1,013,619,000
Residential loans, at lower of cost or fair value |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 251,000
Residential loans, at lower of cost or fair value | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 30.00%
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 | 30.00%
Investment Securities |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 1,357,720,000
Investment 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%
Investment Securities | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 50.00%
Loss severity | 40.00%
Discount rate | 14.00%
Default rate | 27.00%
Investment Securities | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 9.00%
Loss severity | 22.00%
Discount rate | 6.00%
Default rate | 3.00%
MSRs |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 66,496,000
MSRs | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 6.00%
Discount rate | 11.00%
Per loan annual cost to service | $ 79
MSRs | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 27.00%
Discount rate | 29.00%
Per loan annual cost to service | $ 82
MSRs | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 7.00%
Discount rate | 11.00%
Per loan annual cost to service | $ 82
Guarantee asset |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 3,055,000
Guarantee asset | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 9.00%
Discount rate | 11.00%
Guarantee asset | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 9.00%
Discount rate | 11.00%
Guarantee asset | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Prepayment rate (annual CPR) | 9.00%
Discount rate | 11.00%
REO |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 2,260,000
REO | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 12.00%
REO | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 43.00%
REO | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Loss severity | 26.00%
Loan purchase commitments |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Fair Value | $ 1,395,000
Loan purchase commitments | Minimum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA (in dollars per loan) | $ / loan | 1.78
Whole loan spread to swap rate | 2.01%
Prepayment rate (annual CPR) | 15.00%
MSR Multiple | 1.0
Pull-through rate | 9.00%
Whole loan spread to swap rate - hybrid | 0.90%
Loan purchase commitments | Maximum |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA (in dollars per loan) | $ / loan | 2.78
Whole loan spread to swap rate | 2.01%
Prepayment rate (annual CPR) | 15.00%
MSR Multiple | 5.2
Pull-through rate | 100.00%
Whole loan spread to swap rate - hybrid | 1.65%
Loan purchase commitments | Weighted Average |
Fair Value Inputs, Assets, Quantitative Information [Line Items] |
Whole loan spread to TBA (in dollars per loan) | $ / loan | 2.77
Whole loan spread to swap rate | 2.01%
Prepayment rate (annual CPR) | 15.00%
MSR Multiple | 3.4
Pull-through rate | 68.00%
Whole loan spread to swap rate - hybrid | 1.19%

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- Definition Fair Value Inputs, Mortgage Servicing Right (MSR) Multiple + References No definition available. + Details
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- Definition Fair Value Inputs, Whole Loan Committed Sales Price + References No definition available. + Details
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
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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 Loss, including interest and principal, incurred on a defaulted security, expressed as a percentage of the original principal balance, 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 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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- Definition Fair value of financial instrument classified as derivative asset (liability) after deduction of derivative liability (asset), measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + 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 (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 + Details
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