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Residential Loans - Quarterly Activity of Residential Loans Held-for-Investment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Transfers from loans held-for-sale to loans held-for-investment |  |  | $ 770,754 | $ 1,361,015
Held-for-investment at fair value | Sequoia Choice |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Net market valuation gain (loss) | $ (5,175) | $ (11,029) | (21,727) | 4,841
Held-for-investment at fair value | Freddie Mac SLST |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Net market valuation gain (loss) | 159,687 | 39,783 | 15,254 | 94,788
Held-for-investment at fair value | Legacy Sequoia |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Net market valuation gain (loss) | 21,938 | (103) | (38,996) | 5,271
Held-for-investment at fair value | Sequoia Choice |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Transfers from loans held-for-sale to loans held-for-investment | 0 | 727,088 | 270,506 | 1,076,671
Held-for-investment at fair value | Redwood |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Principal balance of loans acquired | 0 | 0 | 0 | 39,194
Principal balance of loans sold | 0 | 0 | 0 | 0
Transfers from loans held-for-sale to loans held-for-investment | 0 | 0 | 13,258 | 68,703
Transfers from loans held-for-investment to loans held-for-sale | 0 | 0 | 1,870,986 | 22,814
Net market valuation gains (losses) recorded | $ 218 | $ 7,667 | $ (93,314) | $ 71,323

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