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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 | 12 Months Ended
--- | ---
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017
Loan purchase and interest rate lock commitments |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 liability | $ (1,290) | $ (732) | $ (3,706)
Contingent Consideration |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 liability | (3,217) | 0 | 0
ABS issued |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 liability | (130,421) | (71,468) | (29,187)
Residential loans, held-for-investment | Residential loans at Redwood |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | 67,470 | (17,757) | 523
Residential loans, held-for-investment | Residential loans at consolidated Sequoia entities |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | (10,062) | 24,799 | 17,727
Residential loans, held-for-investment | Freddie Mac SLST |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | 63,583 | 21,295 | 0
Business purpose residential loans |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | 14,603 | 445 | 0
Single-family rental loans | CAFL |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | (14,681) | 0 | 0
Multifamily loans | Freddie Mac K-Series |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | 130,083 | 46,555 | 0
Trading securities |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | 18,865 | (12,256) | 28,612
AFS Securities |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | 0 | (89) | (1,011)
Servicer advance investments |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | 3,001 | (702) | 0
MSRs |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | (11,957) | 1,942 | 1,277
Excess MSRs |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | (3,260) | 1,824 | 0
Shared home appreciation options |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | 842 | 0 | 0
Loan purchase and interest rate lock commitments |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | 10,190 | 2,913 | 3,243
Loan forward sale commitments |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | 0 | 0 | 2,177
Other assets - Guarantee asset |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Net gain (loss) attributable to Level 3 asset | $ (932) | $ (251) | $ (1,223)

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