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Residential Loans - Additional Information (Details) |  |  | 3 Months Ended | 9 Months Ended
--- | --- | --- | --- | ---
Sep. 30, 2019 USD ($) loan | Dec. 31, 2018 USD ($) loan | Sep. 30, 2019 USD ($) loan | Sep. 30, 2018 USD ($) | Sep. 30, 2019 USD ($) loan | Sep. 30, 2018 USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Transfers from loans held-for-sale to loans held-for-investment |  |  |  |  | $ 1,361,015,000 | $ 1,981,170,000
Transfers from loans held-for-investment to loans held-for-sale |  |  |  |  | 22,808,000 | 15,717,000
Held-for-sale residential loans |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | $ 8,681,803,000 | $ 7,254,742,000 | $ 8,681,803,000 |  | 8,681,803,000 |
Held-for-sale residential loans | Legacy Sequoia |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 429,159,000 | 519,958,000 | 429,159,000 |  | 429,159,000 |
Held-for-sale residential loans | Sequoia Choice |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 2,618,316,000 | 2,079,382,000 | 2,618,316,000 |  | 2,618,316,000 |
Held-for-sale residential loans | Freddie Mac SLST |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | $ 2,441,223,000 | 1,222,669,000 | $ 2,441,223,000 |  | $ 2,441,223,000 |
Redwood | Fixed rate residential mortgage |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Weighted average coupon rate | 4.15% |  | 4.15% |  | 4.15% |
Redwood | Held-for-sale residential loans |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | $ 3,193,105,000 | $ 3,432,733,000 | $ 3,193,105,000 |  | $ 3,193,105,000 |
Residential Loans |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Number of loans | loan | 1,206 | 1,484 |  |  |  |
Loan principal | $ 904,000,000 | $ 1,030,000,000.00 | 904,000,000 |  | 904,000,000 |
Residential loans | $ 926,000,000 | $ 1,050,000,000.00 | $ 926,000,000 |  | $ 926,000,000 |
Number of loans in foreclosure | loan | 0 | 0 | 0 |  | 0 |
Principal value of loans purchased |  |  | $ 1,450,000,000 | $ 1,790,000,000 | $ 3,940,000,000 | 5,520,000,000
Principal balance of loans sold during period |  |  | 1,530,000,000 | 1,900,000,000 | 3,920,000,000 | 5,830,000,000
Gain (loss) on assets measured at fair value on a non-recurring basis |  |  | (7,000,000) | 6,000,000 | 300,000 | 16,000,000
Loan pledged as collateral | $ 253,000,000 | $ 935,000,000 | 253,000,000 |  | 253,000,000 |
Loans held-for-investment, in foreclosure | 2,000,000 |  | 2,000,000 |  | 2,000,000 |
Residential Loans | Jumbo Loans | Held-for-sale residential loans |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 925,780,000 | 1,048,690,000 | 925,780,000 |  | 925,780,000 |
Residential Loans | Jumbo Loans | Held-for-sale residential loans | Legacy Sequoia |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 0 | 0 | 0 |  | 0 |
Residential Loans | Jumbo Loans | Held-for-sale residential loans | Sequoia Choice |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 0 | 0 | 0 |  | 0 |
Residential Loans | Jumbo Loans | Held-for-sale residential loans | Freddie Mac SLST |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 0 | 0 | 0 |  | 0 |
Residential Loans | Jumbo Loans | Redwood | Held-for-sale residential loans |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 925,780,000 | 1,048,690,000 | 925,780,000 |  | 925,780,000 |
Residential Loans | Financing Receivables, Equal to Greater than 90 Days Past Due |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Loan principal | $ 700,000 | $ 700,000 | $ 700,000 |  | $ 700,000 |
Number of loans past due | loan | 1 | 1 | 1 |  | 1 |
Loans held-for-investment, delinquent greater than 90 days | $ 600,000 | $ 600,000 | $ 600,000 |  | $ 600,000 |
At lower of cost or fair value |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Number of loans | loan | 2 | 2 |  |  |  |
Loan principal | $ 100,000 | $ 100,000 | 100,000 |  | 100,000 |
Residential loans | 100,000 | 100,000 | 100,000 |  | 100,000 |
At lower of cost or fair value | Held-for-sale residential loans |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 107,000 | 111,000 | 107,000 |  | 107,000 |
At lower of cost or fair value | Held-for-sale residential loans | Legacy Sequoia |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 0 | 0 | 0 |  | 0 |
At lower of cost or fair value | Held-for-sale residential loans | Sequoia Choice |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 0 | 0 | 0 |  | 0 |
At lower of cost or fair value | Held-for-sale residential loans | Freddie Mac SLST |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 0 | 0 | 0 |  | 0 |
At lower of cost or fair value | Redwood | Held-for-sale residential loans |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | $ 107,000 | $ 111,000 | $ 107,000 |  | $ 107,000 |
At lower of cost or fair value | Financing Receivables, Equal to Greater than 90 Days Past Due |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Number of loans past due | loan | 0 | 0 | 0 |  | 0 |
Held-for-investment at fair value | Legacy Sequoia |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Valuation adjustment gain (loss) |  |  | $ (100,000) | 4,000,000 | $ 5,000,000 | 37,000,000
Held-for-investment at fair value | Sequoia Choice |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Transfers from loans held-for-sale to loans held-for-investment |  |  | 727,000,000 |  | 1,080,000,000.00 |
Held-for-investment at fair value | Legacy Sequoia |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Number of loans | loan | 2,277 | 2,641 |  |  |  |
Loan principal | $ 446,000,000 | $ 545,000,000 | 446,000,000 |  | 446,000,000 |
Residential loans | 429,000,000 | 520,000,000 | 429,000,000 |  | 429,000,000 |
Loans held-for-investment, delinquent greater than 90 days | $ 13,000,000 | 14,000,000 | $ 13,000,000 |  | $ 13,000,000 |
Weighted average original Fair Isaac Corporation (FICO) score | 727 |  | 727 |  | 727 |
Weighted average original loan-to-value (LTV) | 66.00% |  | 66.00% |  | 66.00% |
Loans held-for-investment, in foreclosure | $ 3,000,000 | $ 5,000,000 | $ 3,000,000 |  | $ 3,000,000 |
Held-for-investment at fair value | Sequoia Choice |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Number of loans | loan | 3,543 | 2,800 |  |  |  |
Loan principal | $ 2,550,000,000 | $ 2,040,000,000.00 | 2,550,000,000 |  | 2,550,000,000 |
Residential loans | $ 2,620,000,000 | $ 2,080,000,000.00 | $ 2,620,000,000 |  | $ 2,620,000,000 |
Number of loans past due | loan | 6 | 3 | 6 |  | 6 |
Loans held-for-investment, delinquent greater than 90 days | $ 4,000,000 | $ 2,000,000 | $ 4,000,000 |  | $ 4,000,000 |
Number of loans in foreclosure | loan | 1 | 0 | 1 |  | 1 |
Weighted average original Fair Isaac Corporation (FICO) score | 745 |  | 745 |  | 745 |
Weighted average original loan-to-value (LTV) | 75.00% |  | 75.00% |  | 75.00% |
Valuation adjustment gain (loss) |  |  | $ (11,000,000) | (13,000,000) | $ 5,000,000 | (25,000,000)
Loans in foreclosure amount | $ 1,000,000 |  | 1,000,000 |  | 1,000,000 |
Held-for-investment at fair value | Freddie Mac SLST |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Number of loans | loan | 14,706 | 7,900 |  |  |  |
Loan principal | $ 2,470,000,000 | $ 1,310,000,000 | 2,470,000,000 |  | 2,470,000,000 |
Residential loans | $ 2,440,000,000 | $ 1,220,000,000 | $ 2,440,000,000 |  | $ 2,440,000,000 |
Number of loans past due | loan | 288 | 306 | 288 |  | 288 |
Loans held-for-investment, delinquent greater than 90 days | $ 75,000,000 | $ 51,000,000 | $ 75,000,000 |  | $ 75,000,000 |
Number of loans in foreclosure | loan | 150 | 0 | 150 |  | 150 |
Weighted average original Fair Isaac Corporation (FICO) score | 599 |  | 599 |  | 599 |
Weighted average original loan-to-value (LTV) | 68.00% |  | 68.00% |  | 68.00% |
Valuation adjustment gain (loss) |  |  | $ 40,000,000 |  | $ 95,000,000 |
Loans in foreclosure amount | $ 24,000,000 |  | 24,000,000 |  | 24,000,000 |
Held-for-investment at fair value | Redwood |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Number of loans | loan | 3,118 | 3,296 |  |  |  |
Loan principal | $ 2,200,000,000 | $ 2,390,000,000 | 2,200,000,000 |  | 2,200,000,000 |
Residential loans |  | $ 2,380,000,000 |  |  |  |
Number of loans in foreclosure | loan |  | 0 |  |  |  |
Principal value of loans purchased |  |  | 0 |  | 39,000,000 |
Gain (loss) on assets measured at fair value on a non-recurring basis |  |  | 8,000,000 | (17,000,000) | 71,000,000 | (71,000,000)
Transfers from loans held-for-sale to loans held-for-investment |  |  | 0 | 116,000,000 | 69,000,000 | 204,000,000
Transfers from loans held-for-investment to loans held-for-sale |  |  | $ 0 | $ 16,000,000 | $ 23,000,000 | $ 16,000,000
Weighted average original Fair Isaac Corporation (FICO) score | 768 |  | 768 |  | 768 |
Weighted average original loan-to-value (LTV) | 66.00% |  | 66.00% |  | 66.00% |
Percentage of fixed-rate loans | 88.00% |  | 88.00% |  | 88.00% |
Held-for-investment at fair value | Redwood | Originated Between 2013 and 2019 |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Percentage of loan portfolio originated in year | 96.00% |  | 96.00% |  | 96.00% |
Held-for-investment at fair value | Redwood | Originated 2012 and prior years |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Percentage of loan portfolio originated in year | 4.00% |  | 4.00% |  | 4.00% |
Held-for-investment at fair value | Redwood | Hybrid or ARM Loans |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Weighted average coupon rate | 4.19% |  | 4.19% |  | 4.19% |
Held-for-investment at fair value | Jumbo Loans | Held-for-sale residential loans |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | $ 7,755,916,000 | $ 6,205,941,000 | $ 7,755,916,000 |  | $ 7,755,916,000 |
Held-for-investment at fair value | Jumbo Loans | Held-for-sale residential loans | Legacy Sequoia |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 429,159,000 | 519,958,000 | 429,159,000 |  | 429,159,000 |
Held-for-investment at fair value | Jumbo Loans | Held-for-sale residential loans | Sequoia Choice |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 2,618,316,000 | 2,079,382,000 | 2,618,316,000 |  | 2,618,316,000 |
Held-for-investment at fair value | Jumbo Loans | Held-for-sale residential loans | Freddie Mac SLST |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 2,441,223,000 | 1,222,669,000 | 2,441,223,000 |  | 2,441,223,000 |
Held-for-investment at fair value | Jumbo Loans | Redwood | Held-for-sale residential loans |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Residential loans | 2,267,218,000 | 2,383,932,000 | 2,267,218,000 |  | 2,267,218,000 |
Held-for-investment at fair value | Financing Receivables, Equal to Greater than 90 Days Past Due | Redwood |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Loan principal | $ 500,000 | $ 1,000,000 | $ 500,000 |  | $ 500,000 |
Number of loans past due | loan | 1 | 2 | 1 |  | 1 |
MSRs |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Mortgage servicing rights, at amortized cost | $ 2,510,000,000 |  | $ 2,510,000,000 |  | $ 2,510,000,000 |
Residential Real Estate | Redwood | Held-for-sale residential loans | FHLB Chicago |  |  |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |  |  |
Loans pledged as collateral under borrowing agreement with FHLBC | $ 2,270,000,000 |  | $ 2,270,000,000 |  | $ 2,270,000,000 |

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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 loans and leases held in portfolio, including but not limited to, commercial and consumer loans. Excludes loans and leases covered under loss sharing agreements and loans held for sale. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118952595&loc=d3e4428-111522 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.7) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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- Definition Carrying amount as of the balance sheet date of loans that have been pledged as collateral for borrowings. If the secured party has the right by contract or custom to sell or re-pledge the collateral, then the debtor reclassifies that asset and report that asset in its statement of financial position separately from other assets not so encumbered. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66007379&loc=d3e113888-111728 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118936363&loc=d3e5086-111524 + Details
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