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Fair Value of Financial Instruments - Portion of Net Gains (Losses) Attributable to Level 3 Assets and Liabilities Still Held Included in Net Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018
Loan purchase commitments |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 liabilities still held included in net income | $ (1,668) | $ (2,314) | $ (1,669) | $ (2,388)
Contingent Consideration |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 liabilities still held included in net income | (235) | 0 | (546) | 0
ABS Issued |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 liabilities still held included in net income | (49,399) | 12,536 | (230,709) | (8,478)
Held-for-investment at fair value | Residential loans at Redwood |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | 17,771 | (18,100) | 82,408 | (70,316)
Held-for-investment at fair value | Residential loans at consolidated Sequoia entities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | (11,132) | (8,978) | 10,111 | 11,936
Held-for-investment at fair value | Freddie Mac K-Series |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | 39,783 | 0 | 94,788 | 0
Business purpose residential loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | 584 | (20) | 4,069 | (20)
Multifamily loans | Freddie Mac K-Series |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | 47,353 | (4,199) | 178,374 | (4,199)
Trading securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | 11,206 | 3,821 | 33,196 | (1,956)
Available-for-sale securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | 0 | (33) | 0 | (90)
Servicer advance investments |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | 1,585 | 0 | 3,025 | 0
MSRs |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | (5,892) | 337 | (16,971) | 4,861
Excess MSRs |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | (1,634) | 0 | (2,137) | 0
Loan purchase commitments |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | 4,678 | 2,168 | 4,757 | 2,157
Other assets - Guarantee asset |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | (216) | (51) | (834) | 15
Home appreciation options |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | $ 29 | $ 0 | $ 29 | $ 0

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