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Residential Loans - Summary of Classifications and Carrying Value of Residential Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019
--- | --- | ---
MSRs |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Mortgage servicing rights | $ 172,000 |
Residential loans, held-for-investment | Legacy Sequoia |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 285,935 | $ 407,890
Residential loans, held-for-investment | Sequoia Choice |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 1,565,322 | 2,291,463
Residential loans, held-for-investment | Freddie Mac SLST |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 2,221,153 | 2,367,215
Redwood | Residential loans, held-for-investment |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 0 | 2,111,897
Residential Loans |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 4,249,051 | 7,714,850
Residential Loans | Legacy Sequoia |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 285,935 | 407,890
Residential Loans | Sequoia Choice |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 1,565,322 | 2,291,463
Residential Loans | Freddie Mac SLST |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 2,221,153 | 2,367,215
Residential Loans | Held-for-sale at fair value |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 176,641 | 536,385
Residential Loans | Held-for-sale at fair value | Legacy Sequoia |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 0 | 0
Residential Loans | Held-for-sale at fair value | Sequoia Choice |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 0 | 0
Residential Loans | Held-for-sale at fair value | Freddie Mac SLST |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 0 | 0
Residential Loans | Residential loans, held-for-investment |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 4,072,410 | 7,178,465
Residential Loans | Residential loans, held-for-investment | Legacy Sequoia |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 285,935 | 407,890
Residential Loans | Residential loans, held-for-investment | Sequoia Choice |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 1,565,322 | 2,291,463
Residential Loans | Residential loans, held-for-investment | Freddie Mac SLST |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 2,221,153 | 2,367,215
Residential Loans | Redwood |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 176,641 | 2,648,282
Residential Loans | Redwood | Held-for-sale at fair value |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | 176,641 | 536,385
Residential Loans | Redwood | Residential loans, held-for-investment |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |
Loans, at fair value | $ 0 | $ 2,111,897

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