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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
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Mar. 31, 2020 | Mar. 31, 2019
Loan purchase and interest rate lock 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 | $ (3,967) | $ (753)
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 | (312) | 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 | 360,640 | (60,182)
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 | (102,867) | 35,801
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 | (179,499) | 14,472
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 | (193,035) | 23,527
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 | (68,864) | 1,050
Single family rental loans | CAFL |  |
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 | (271,917) | 0
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 | (10,351) | 34,372
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 | (136,359) | 21,543
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 | (6,062) | 1,008
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 | (16,640) | (4,295)
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 | (9,494) | (437)
Loan purchase and interest rate lock 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 | 0 | 4,962
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 | (781) | (277)
Shared 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 | $ (7,554) | $ 0

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