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Fair Value of Financial Instruments - Market Valuation Adjustments, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
MSR income, net	$ 3,521	$ 7,076	$ 7,860
Gain on re-measurement of 5 Arches investment	2,441	0
Total Market Valuation Gains, Net	97,006	24,069	51,484
Mortgage Banking Activities, Net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	69,326	57,000	51,844
Mortgage Banking Activities, Net | Residential Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	3,267	23,144	31,493
Mortgage Banking Activities, Net | Residential loan purchase and forward sale commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	60,260	(1,336)	37,880
Mortgage Banking Activities, Net | Single-family rental loans held-for-sale, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	15,043	375	0
Mortgage Banking Activities, Net | Single-family rental loan purchase and interest rate lock commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	1,961	78	0
Mortgage Banking Activities, Net | Residential bridge loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	4,518	0	0
Mortgage Banking Activities, Net | Risk management derivatives, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(15,723)	34,739	(17,529)
Investment Fair Value Changes, Net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	35,500	(25,689)	10,374
Investment Fair Value Changes, Net | Risk management derivatives, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(127,169)	9,740	(12,842)
Investment Fair Value Changes, Net | Residential loans held-for-investment at Redwood
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	58,891	(29,573)	(5,765)
Investment Fair Value Changes, Net | Single-family rental loans held-for-investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	272	0	0
Investment Fair Value Changes, Net | Residential bridge loans held-for-investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(2,139)	(29)	0
Investment Fair Value Changes, Net | Trading securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	56,046	(8,055)	39,526
Investment Fair Value Changes, Net | Commercial loans held-for-sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	0	0	300
Investment Fair Value Changes, Net | Servicer advance investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	3,001	(701)	0
Investment Fair Value Changes, Net | Excess MSRs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(3,260)	1,823	0
Investment Fair Value Changes, Net | Shared home appreciation options
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	842	0	0
Investment Fair Value Changes, Net | REO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(1,045)	0	0
Investment Fair Value Changes, Net | Net investments in Legacy Sequoia entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(1,545)	(1,016)	(8,027)
Investment Fair Value Changes, Net | Net investments in Sequoia Choice entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	6,947	443	(323)
Investment Fair Value Changes, Net | Net investments in Freddie Mac SLST entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	27,206	1,271	0
Investment Fair Value Changes, Net | Net investments in Freddie Mac K-Series entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	21,430	931	0
Investment Fair Value Changes, Net | Net investments in CAFL entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(3,636)	0	0
Investment Fair Value Changes, Net | Risk-sharing and other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(341)	(434)	(1,484)
Investment Fair Value Changes, Net | Impairments on AFS securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	0	(89)	(1,011)
Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
MSR income, net	(7,820)	(7,242)	(10,734)
Gain on re-measurement of 5 Arches investment	2,441	0	0
Other Income | Risk management derivatives, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
MSR income, net	8,595	(4,734)	(568)
Other Income | MSRs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
MSR income, net	$ (18,856)	$ (2,508)	$ (10,166)

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
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