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Long-Term Debt (Details) - USD ($) |  | 3 Months Ended | 9 Months Ended
--- | --- | --- | ---
Dec. 31, 2019 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2020
Debt Instrument [Line Items] |  |  |  |  |
Repayments for FHLBC borrowings |  | $ 0 |  |  | $ 2,000,000,000.00
FHLBC stock | $ 43,393,000 | 5,000,000 |  |  | 5,000,000
Accrued interest payable | 6,000,000 | 1,000,000 |  |  | 1,000,000
Notional amount | 13,589,356,000 | 2,575,858,000 |  |  | 2,575,858,000
Accrued interest payable | 60,655,000 | 34,225,000 |  |  | 34,225,000
Line of Credit | Non-Recourse Business Purpose Loan Financing Facility Two |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Amount outstanding |  | 158,000,000 |  |  | 158,000,000
Unamortized debt issuance costs |  | 1,000,000 |  |  | 1,000,000
Debt instrument face amount |  | $ 157,000,000 |  |  | 157,000,000
Line of Credit | Non-Recourse Business Purpose Loan Financing Facility Two | LIBOR |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  | 3.85% |  |  |
Reference rate floor |  | 0.50% |  |  |
Line of Credit | Non-Recourse Business Purpose Loan Financing Facility One |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Amount outstanding |  | $ 302,000,000 |  |  | 302,000,000
Unamortized debt issuance costs |  | 4,000,000 |  |  | 4,000,000
Debt instrument face amount |  | 298,000,000 |  |  | 298,000,000
Maximum borrowing limit |  |  | $ 530,000,000 |  |
Line of Credit | Non-Recourse Business Purpose Loan Financing Facility One | Secured Debt |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Maximum borrowing limit |  |  | 355,000,000 |  |
Line of Credit | Non-Recourse Business Purpose Loan Financing Facility One | Revolving Credit Facility |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Maximum borrowing limit |  |  | $ 175,000,000 |  |
Line of Credit | Non-Recourse Business Purpose Loan Financing Facility One | LIBOR |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  |  | 7.50% |  |
Reference rate floor |  |  | 1.50% |  |
Line of Credit | Recourse Business Purpose Loan Financing Facility Through September 2023 |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Amount outstanding |  | 0 |  |  | 0
Maximum borrowing limit |  | $ 250,000,000 |  |  | 250,000,000
Line of Credit | Recourse Business Purpose Loan Financing Facility Through September 2023 | LIBOR |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  | 3.00% |  |  |
Line of Credit | Recourse Business Purpose Loan Financing Facility |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Amount outstanding |  | $ 150,000,000 |  |  | 150,000,000
Unamortized debt issuance costs |  | 1,000,000 |  |  | 1,000,000
Debt instrument face amount |  | 150,000,000 |  |  | 150,000,000
Maximum borrowing limit |  |  | $ 350,000,000 |  |
Line of Credit | Recourse Business Purpose Loan Financing Facility | LIBOR |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Reference rate floor |  |  | 1.00% |  |
Line of Credit | Recourse Business Purpose Loan Financing Facility | LIBOR | Minimum |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  |  | 3.50% |  |
Line of Credit | Recourse Business Purpose Loan Financing Facility | LIBOR | Maximum |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  |  | 4.00% |  |
Line of Credit | Recourse Revolving Debt Facility |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Amount outstanding |  | 0 |  |  | 0
Maximum borrowing limit |  |  |  | $ 50,000,000 |
Collateral amounts |  | 33,000,000 |  |  | 33,000,000
Line of Credit | Recourse Revolving Debt Facility | LIBOR |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Basis spread on variable rate |  |  |  | 2.75% |
Bridge Loan | Non-Recourse Business Purpose Loan Financing Facility Two |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Pledged assets real estate pledged as collateral, at fair value |  | 216,000,000 |  |  | 216,000,000
Bridge Loan | Non-Recourse Business Purpose Loan Financing Facility One |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Pledged assets real estate pledged as collateral, at fair value |  | 369,000,000 |  |  | 369,000,000
Bridge Loan | Recourse Business Purpose Loan Financing Facility |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Pledged assets real estate pledged as collateral, at fair value |  | 18,000,000 |  |  | 18,000,000
Loans Payable | Non-Recourse Business Purpose Loan Financing Facility One |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Pledged assets real estate pledged as collateral, at fair value |  | 25,000,000 |  |  | 25,000,000
Loans Payable | Recourse Business Purpose Loan Financing Facility |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Pledged assets real estate pledged as collateral, at fair value |  | $ 194,000,000 |  |  | $ 194,000,000
Convertible Debt | Exchangeable Senior Notes Due 2025 |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Debt Instrument interest rate |  | 5.75% |  |  | 5.75%
Unamortized debt issuance costs |  | $ 4,000,000 |  |  | $ 4,000,000
Convertible notes |  | 172,000,000 |  |  | 172,000,000
Amount of debt repurchased |  | 29,000,000 |  |  | 29,000,000
Gain (loss) on extinguishment of debt |  | 6,000,000 |  |  |
Accrued interest payable |  | $ 5,000,000 |  |  | $ 5,000,000
Convertible Debt | Senior Notes Due 2024 |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Debt Instrument interest rate |  | 5.625% |  |  | 5.625%
Unamortized debt issuance costs |  | $ 2,000,000 |  |  | $ 2,000,000
Convertible notes |  | 150,000,000 |  |  | 150,000,000
Amount of debt repurchased |  | 50,000,000 |  |  | 50,000,000
Gain (loss) on extinguishment of debt |  | 9,000,000 |  |  |
Accrued interest payable |  | 2,000,000 |  |  | 2,000,000
Unamortized debt discount |  | $ 1,000,000 |  |  | $ 1,000,000
Convertible Debt | Senior Notes Due 2023 |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Debt Instrument interest rate |  | 4.75% |  |  | 4.75%
Unamortized debt issuance costs |  | $ 3,000,000 |  |  | $ 3,000,000
Convertible notes |  | 199,000,000 |  |  | 199,000,000
Amount of debt repurchased |  | 46,000,000 |  |  | 46,000,000
Gain (loss) on extinguishment of debt |  | 10,000,000 |  |  |
Accrued interest payable |  | 1,000,000 |  |  | 1,000,000
Trust Preferred Securities |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Debt instrument face amount |  | 100,000,000 |  |  | 100,000,000
Subordinated Notes |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Debt instrument face amount |  | 40,000,000 |  |  | 40,000,000
Trust Preferred Securities and Subordinated Notes |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Accrued interest payable | 1,000,000 | 1,000,000 |  |  | 1,000,000
FHLB Chicago | FHLB Member Subsidiary |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Federal home loan bank advances outstanding | $ 2,000,000,000.00 | $ 1,000,000 |  |  | $ 1,000,000
Weighted average interest rate | 1.88% | 0.35% |  |  | 0.35%
Weighted average maturity (in years) | 6 years |  |  |  |
FHLB Chicago | Redwood | Held-for-sale residential loans | Restricted cash |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Loans pledged as collateral under borrowing agreement with FHLBC |  | $ 1,000,000 |  |  | $ 1,000,000
Affiliated Entity | Recourse Subordinate Securities Financing Facilities | Non-Marginable Debt Repurchase Agreement One |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Debt Instrument interest rate | 4.21% |  |  |  |
Amount outstanding |  | 180,000,000 |  |  | 180,000,000
Unamortized debt issuance costs |  | 1,000,000 |  |  | 1,000,000
Debt instrument face amount |  | 179,000,000 |  |  | 179,000,000
Affiliated Entity | Recourse Subordinate Securities Financing Facilities | Non-Marginable Debt Repurchase Agreement Two |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Debt Instrument interest rate |  |  | 4.21% |  |
Amount outstanding |  | 103,000,000 |  |  | 103,000,000
Unamortized debt issuance costs |  | 1,000,000 |  |  | 1,000,000
Debt instrument face amount |  | 102,000,000 |  |  | 102,000,000
Affiliated Entity | Sequoia Choice | Recourse Subordinate Securities Financing Facilities | Non-Marginable Debt Repurchase Agreement One |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Pledged assets real estate pledged as collateral, at fair value |  | 232,000,000 |  |  | 232,000,000
Affiliated Entity | CAFL | Recourse Subordinate Securities Financing Facilities | Non-Marginable Debt Repurchase Agreement Two |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |
Pledged assets real estate pledged as collateral, at fair value |  | $ 112,000,000 |  |  | $ 112,000,000

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