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Real Estate Securities - Trading Securities by Collateral Type (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2020 | Dec. 31, 2019
Investment Holdings [Line Items] |  |
Real estate securities | $ 125,667 | $ 860,540
Unpaid principal balance | 245,855 | 922,330
Principal balance of securities acquired | 79,921 | 366,848
Principal balance of securities sold | 744,914 | 592,502
Net market valuation gains (losses) recorded | (230,731) | 56,046
Senior IO Securities |  |
Investment Holdings [Line Items] |  |
Real estate securities | 28,464 | 150,067
Unpaid principal balance | 0 | 83,591
Mezzanine |  |
Investment Holdings [Line Items] |  |
Real estate securities | 3,649 | 538,489
Unpaid principal balance | 3,577 | 536,831
Subordinate |  |
Investment Holdings [Line Items] |  |
Real estate securities | 93,554 | 171,984
Unpaid principal balance | 242,278 | 301,908
Interest-only securities | Senior IO Securities |  |
Investment Holdings [Line Items] |  |
Real estate securities | 28,464 | 64,010
Interest-only securities | Senior IO Securities | Sequoia Choice |  |
Investment Holdings [Line Items] |  |
Real estate securities | 13,000 | 36,000
RPL securities | Senior IO Securities |  |
Investment Holdings [Line Items] |  |
Real estate securities | 0 | 39,337
RPL securities | Subordinate |  |
Investment Holdings [Line Items] |  |
Real estate securities | 47,448 | 76,102
Other third-party residential securities | Senior IO Securities |  |
Investment Holdings [Line Items] |  |
Real estate securities | 0 | 46,720
Other third-party residential securities | Mezzanine |  |
Investment Holdings [Line Items] |  |
Real estate securities | 0 | 103,573
Other third-party residential securities | Subordinate |  |
Investment Holdings [Line Items] |  |
Real estate securities | 40,514 | 95,882
Sequoia securities | Mezzanine |  |
Investment Holdings [Line Items] |  |
Real estate securities | 3,649 | 39,660
Multifamily securities | Mezzanine |  |
Investment Holdings [Line Items] |  |
Real estate securities | 0 | 395,256
Multifamily securities | Subordinate |  |
Investment Holdings [Line Items] |  |
Real estate securities | $ 5,592 | $ 0

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