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Fair Value of Financial Instruments - Quantitative Information about Significant Unobservable Inputs Used in Valuation of Level 3 Assets and Liabilities Measured at Fair Value (Details) $ in Thousands | 12 Months Ended |
--- | --- | ---
Dec. 31, 2020 USD ($) $ / loan | Dec. 31, 2019 USD ($)
Liabilities |  |
Contingent consideration | $ | $ 0 | $ 28,484
ABS Issued Securities |  |
Liabilities |  |
ABS issued | $ | $ 1,629,683 |
ABS Issued Securities | Prepayment rate (annual CPR) | Minimum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.08 |
ABS Issued Securities | Prepayment rate (annual CPR) | Maximum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.55 |
ABS Issued Securities | Prepayment rate (annual CPR) | Weighted Average |  |
Liabilities |  |
ABS issued, measurement inputs | 0.31 |
ABS Issued Securities | Discount rate | Minimum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.02 |
ABS Issued Securities | Discount rate | Maximum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.26 |
ABS Issued Securities | Discount rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement inputs | 0.03 |
ABS Issued Securities | Default rate | Minimum |  |
Liabilities |  |
ABS issued, measurement inputs | 0 |
ABS Issued Securities | Default rate | Maximum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.41 |
ABS Issued Securities | Default rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement inputs | 0.03 |
ABS Issued Securities | Loss severity | Minimum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.30 |
ABS Issued Securities | Loss severity | Maximum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.50 |
ABS Issued Securities | Loss severity | Weighted Average |  |
Liabilities |  |
ABS issued, measurement inputs | 0.31 |
Freddie Mac SLST |  |
Liabilities |  |
ABS issued | $ | $ 1,793,620 |
Freddie Mac SLST | Prepayment rate (annual CPR) | Minimum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.06 |
Freddie Mac SLST | Prepayment rate (annual CPR) | Maximum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.07 |
Freddie Mac SLST | Prepayment rate (annual CPR) | Weighted Average |  |
Liabilities |  |
ABS issued, measurement inputs | 0.06 |
Freddie Mac SLST | Discount rate | Minimum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.01 |
Freddie Mac SLST | Discount rate | Maximum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.07 |
Freddie Mac SLST | Discount rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement inputs | 0.02 |
Freddie Mac SLST | Default rate | Minimum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.09 |
Freddie Mac SLST | Default rate | Maximum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.15 |
Freddie Mac SLST | Default rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement inputs | 0.11 |
Freddie Mac SLST | Loss severity | Minimum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.35 |
Freddie Mac SLST | Loss severity | Maximum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.35 |
Freddie Mac SLST | Loss severity | Weighted Average |  |
Liabilities |  |
ABS issued, measurement inputs | 0.35 |
Freddie Mac K-Series |  |
Liabilities |  |
ABS issued | $ | $ 463,966 |
Freddie Mac K-Series | Discount rate | Minimum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.01 |
Freddie Mac K-Series | Discount rate | Maximum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.17 |
Freddie Mac K-Series | Discount rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement inputs | 0.02 |
CAFL |  |
Liabilities |  |
ABS issued | $ | $ 3,013,093 |
CAFL | Prepayment rate (annual CPR) | Minimum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.03 |
CAFL | Prepayment rate (annual CPR) | Maximum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.03 |
CAFL | Prepayment rate (annual CPR) | Weighted Average |  |
Liabilities |  |
ABS issued, measurement inputs | 0.03 |
CAFL | Discount rate | Minimum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.01 |
CAFL | Discount rate | Maximum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.40 |
CAFL | Discount rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement inputs | 0.03 |
CAFL | Default rate | Minimum |  |
Liabilities |  |
ABS issued, measurement inputs | 0 |
CAFL | Default rate | Maximum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.18 |
CAFL | Default rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement inputs | 0.10 |
CAFL | Loss severity | Minimum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.30 |
CAFL | Loss severity | Maximum |  |
Liabilities |  |
ABS issued, measurement inputs | 0.30 |
CAFL | Loss severity | Weighted Average |  |
Liabilities |  |
ABS issued, measurement inputs | 0.30 |
Jumbo fixed-rate loans |  |
Assets |  |
Loans, held-for-investment | $ | $ 19,464 |
Jumbo fixed-rate loans | Whole loan spread to swap rate | Minimum |  |
Assets |  |
Loans held-for-sale, measurement input | 0.0305 |
Jumbo fixed-rate loans | Whole loan spread to swap rate | Maximum |  |
Assets |  |
Loans held-for-sale, measurement input | 0.0305 |
Jumbo fixed-rate loans | Whole loan spread to swap rate | Weighted Average |  |
Assets |  |
Loans held-for-sale, measurement input | 0.0305 |
Jumbo fixed-rate loans | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Loans held-for-sale, measurement input | 0.20 |
Jumbo fixed-rate loans | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Loans held-for-sale, measurement input | 0.20 |
Jumbo fixed-rate loans | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Loans held-for-sale, measurement input | 0.20 |
Jumbo loans committed to sell |  |
Assets |  |
Loans, held-for-investment | $ | $ 157,140 |
Jumbo loans committed to sell | Whole loan committed sales price | Minimum |  |
Assets |  |
Loans held-for-sale, measurement input | 102.54 |
Jumbo loans committed to sell | Whole loan committed sales price | Maximum |  |
Assets |  |
Loans held-for-sale, measurement input | 103.22 |
Jumbo loans committed to sell | Whole loan committed sales price | Weighted Average |  |
Assets |  |
Loans held-for-sale, measurement input | 102.83 |
Legacy Sequoia |  |
Assets |  |
Loans, held-for-investment | $ | $ 285,935 |
Sequoia Choice |  |
Assets |  |
Loans, held-for-investment | $ | 1,565,322 |
Liabilities |  |
Fair value of securities owned | $ | 222,000 |
Freddie Mac SLST |  |
Assets |  |
Loans, held-for-investment | $ | 2,221,153 |
Liabilities |  |
Fair value of securities owned | $ | 428,000 |
Single-family rental loans |  |
Assets |  |
Loans, held-for-investment | $ | $ 245,394 |
Single-family rental loans | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.03 |
Single-family rental loans | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Loans receivable, measurement input | 0.03 |
Single-family rental loans | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.03 |
Single-family rental loans | Non-securitizable loan dollar price | Minimum |  |
Assets |  |
Loans receivable, measurement input | 86 |
Single-family rental loans | Non-securitizable loan dollar price | Maximum |  |
Assets |  |
Loans receivable, measurement input | 105 |
Single-family rental loans | Non-securitizable loan dollar price | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 99 |
Single-family rental loans | Senior credit support | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.25 |
Single-family rental loans | Senior credit support | Maximum |  |
Assets |  |
Loans receivable, measurement input | 0.34 |
Single-family rental loans | Senior credit support | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.32 |
Single-family rental loans | IO discount rate | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.09 |
Single-family rental loans | IO discount rate | Maximum |  |
Assets |  |
Loans receivable, measurement input | 0.09 |
Single-family rental loans | IO discount rate | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.09 |
CAFL |  |
Assets |  |
Loans, held-for-investment | $ | $ 3,249,194 |
Liabilities |  |
Fair value of securities owned | $ | 239,000 |
Residential Bridge, Held-for-investment at fair value |  |
Assets |  |
Loans, held-for-investment | $ | $ 641,765 |
Residential Bridge, Held-for-investment at fair value | Discount rate | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.06 |
Residential Bridge, Held-for-investment at fair value | Discount rate | Maximum |  |
Assets |  |
Loans receivable, measurement input | 0.15 |
Residential Bridge, Held-for-investment at fair value | Discount rate | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.09 |
Freddie Mac K-Series |  |
Assets |  |
Loans, held-for-investment | $ | $ 492,221 |
Liabilities |  |
Fair value of securities owned | $ | $ 28,000 |
Business purpose loans | Senior credit spread | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.0120 |
Business purpose loans | Senior credit spread | Maximum |  |
Assets |  |
Loans receivable, measurement input | 0.0190 |
Business purpose loans | Senior credit spread | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.0131 |
Business purpose loans | Subordinate credit spread | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.0160 |
Business purpose loans | Subordinate credit spread | Maximum |  |
Assets |  |
Loans receivable, measurement input | 0.1650 |
Business purpose loans | Subordinate credit spread | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.0389 |
Trading and AFS securities |  |
Assets |  |
Trading and AFS securities | $ | $ 344,125 |
Trading and AFS securities | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Trading and AFS securities, measurement inputs | 0.09 |
Trading and AFS securities | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Trading and AFS securities, measurement inputs | 0.56 |
Trading and AFS securities | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Trading and AFS securities, measurement inputs | 0.28 |
Trading and AFS securities | Discount rate | Minimum |  |
Assets |  |
Trading and AFS securities, measurement inputs | 0.03 |
Trading and AFS securities | Discount rate | Maximum |  |
Assets |  |
Trading and AFS securities, measurement inputs | 0.25 |
Trading and AFS securities | Discount rate | Weighted Average |  |
Assets |  |
Trading and AFS securities, measurement inputs | 0.09 |
Trading and AFS securities | Default rate | Minimum |  |
Assets |  |
Trading and AFS securities, measurement inputs | 0 |
Trading and AFS securities | Default rate | Maximum |  |
Assets |  |
Trading and AFS securities, measurement inputs | 0.25 |
Trading and AFS securities | Default rate | Weighted Average |  |
Assets |  |
Trading and AFS securities, measurement inputs | 0.03 |
Trading and AFS securities | Loss severity | Minimum |  |
Assets |  |
Trading and AFS securities, measurement inputs | 0 |
Trading and AFS securities | Loss severity | Maximum |  |
Assets |  |
Trading and AFS securities, measurement inputs | 0.50 |
Trading and AFS securities | Loss severity | Weighted Average |  |
Assets |  |
Trading and AFS securities, measurement inputs | 0.21 |
Trading and AFS securities | CRT dollar price | Minimum |  |
Assets |  |
Trading and AFS securities, measurement inputs | 84 |
Trading and AFS securities | CRT dollar price | Maximum |  |
Assets |  |
Trading and AFS securities, measurement inputs | 104 |
Trading and AFS securities | CRT dollar price | Weighted Average |  |
Assets |  |
Trading and AFS securities, measurement inputs | 95 |
Servicer advance investments |  |
Assets |  |
Servicing asset | $ | $ 231,489 |
Servicer advance investments | Minimum |  |
Assets |  |
Expected remaining life | 4 years |
Servicer advance investments | Maximum |  |
Assets |  |
Expected remaining life | 4 years |
Servicer advance investments | Weighted Average |  |
Assets |  |
Expected remaining life | 4 years |
Servicer advance investments | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Servicing assets, measurement inputs | 0.08 |
Servicer advance investments | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Servicing assets, measurement inputs | 0.14 |
Servicer advance investments | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Servicing assets, measurement inputs | 0.14 |
Servicer advance investments | Discount rate | Minimum |  |
Assets |  |
Servicing assets, measurement inputs | 0.03 |
Servicer advance investments | Discount rate | Maximum |  |
Assets |  |
Servicing assets, measurement inputs | 0.04 |
Servicer advance investments | Discount rate | Weighted Average |  |
Assets |  |
Servicing assets, measurement inputs | 0.03 |
MSRs |  |
Assets |  |
Servicing asset | $ | $ 8,815 |
MSRs | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Servicing assets, measurement inputs | 0.10 |
MSRs | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Servicing assets, measurement inputs | 1 |
MSRs | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Servicing assets, measurement inputs | 0.38 |
MSRs | Discount rate | Minimum |  |
Assets |  |
Servicing assets, measurement inputs | 0.12 |
MSRs | Discount rate | Maximum |  |
Assets |  |
Servicing assets, measurement inputs | 0.12 |
MSRs | Discount rate | Weighted Average |  |
Assets |  |
Servicing assets, measurement inputs | 0.12 |
MSRs | Per loan annual cost to service | Minimum |  |
Assets |  |
Servicing assets, measurement inputs | 97 |
MSRs | Per loan annual cost to service | Maximum |  |
Assets |  |
Servicing assets, measurement inputs | 97 |
MSRs | Per loan annual cost to service | Weighted Average |  |
Assets |  |
Servicing assets, measurement inputs | 97 |
Excess MSRs |  |
Assets |  |
Servicing asset | $ | $ 34,418 |
Excess MSRs | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Servicing assets, measurement inputs | 0.14 |
Excess MSRs | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Servicing assets, measurement inputs | 0.27 |
Excess MSRs | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Servicing assets, measurement inputs | 0.19 |
Excess MSRs | Discount rate | Minimum |  |
Assets |  |
Servicing assets, measurement inputs | 0.15 |
Excess MSRs | Discount rate | Maximum |  |
Assets |  |
Servicing assets, measurement inputs | 0.19 |
Excess MSRs | Discount rate | Weighted Average |  |
Assets |  |
Servicing assets, measurement inputs | 0.17 |
Excess MSRs | Excess mortgage servicing amount | Minimum |  |
Assets |  |
Servicing assets, measurement inputs | 0.0009 |
Excess MSRs | Excess mortgage servicing amount | Maximum |  |
Assets |  |
Servicing assets, measurement inputs | 0.0016 |
Excess MSRs | Excess mortgage servicing amount | Weighted Average |  |
Assets |  |
Servicing assets, measurement inputs | 0.0012 |
Shared home appreciation options |  |
Assets |  |
Shared home appreciation options | $ | $ 42,440 |
Shared home appreciation options | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Shared home appreciation options, measurement inputs | 0.10 |
Shared home appreciation options | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Shared home appreciation options, measurement inputs | 0.24 |
Shared home appreciation options | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Shared home appreciation options, measurement inputs | 0.18 |
Shared home appreciation options | Discount rate | Minimum |  |
Assets |  |
Shared home appreciation options, measurement inputs | 0.15 |
Shared home appreciation options | Discount rate | Maximum |  |
Assets |  |
Shared home appreciation options, measurement inputs | 0.15 |
Shared home appreciation options | Discount rate | Weighted Average |  |
Assets |  |
Shared home appreciation options, measurement inputs | 0.15 |
Shared home appreciation options | Home price appreciation | Minimum |  |
Assets |  |
Shared home appreciation options, measurement inputs | 0.03 |
Shared home appreciation options | Home price appreciation | Maximum |  |
Assets |  |
Shared home appreciation options, measurement inputs | 0.03 |
Shared home appreciation options | Home price appreciation | Weighted Average |  |
Assets |  |
Shared home appreciation options, measurement inputs | 0.03 |
REO |  |
Assets |  |
REO | $ | $ 1,117 |
REO | Loss severity | Minimum |  |
Assets |  |
REO, measurement inputs | 0.01 |
REO | Loss severity | Maximum |  |
Assets |  |
REO, measurement inputs | 0.46 |
REO | Loss severity | Weighted Average |  |
Assets |  |
REO, measurement inputs | 0.21 |
Loan purchase and interest rate lock commitments |  |
Assets |  |
Loan purchase commitments, net | $ | $ 14,450 |
Loan purchase and interest rate lock commitments | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 0.20 |
Loan purchase and interest rate lock commitments | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 0.20 |
Loan purchase and interest rate lock commitments | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 0.20 |
Loan purchase and interest rate lock commitments | MSR multiple | Minimum |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 0 |
Loan purchase and interest rate lock commitments | MSR multiple | Maximum |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 3.9 |
Loan purchase and interest rate lock commitments | MSR multiple | Weighted Average |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 3.0 |
Loan purchase and interest rate lock commitments | Mortgage servicing income | Minimum |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 0 |
Loan purchase and interest rate lock commitments | Mortgage servicing income | Maximum |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 0.0016 |
Loan purchase and interest rate lock commitments | Mortgage servicing income | Weighted Average |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 0.0007 |
Loan purchase and interest rate lock commitments | Pull-through rate | Minimum |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 0.17 |
Loan purchase and interest rate lock commitments | Pull-through rate | Maximum |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 1 |
Loan purchase and interest rate lock commitments | Pull-through rate | Weighted Average |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 0.65 |
Loan purchase and interest rate lock commitments | Whole loan spread to TBA price | Minimum |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 2.50 |
Loan purchase and interest rate lock commitments | Whole loan spread to TBA price | Maximum |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 2.50 |
Loan purchase and interest rate lock commitments | Whole loan spread to TBA price | Weighted Average |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 2.50 |
Loan purchase and interest rate lock commitments | Whole loan spread to swap rate - fixed rate | Minimum |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 0.0305 |
Loan purchase and interest rate lock commitments | Whole loan spread to swap rate - fixed rate | Maximum |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 0.0305 |
Loan purchase and interest rate lock commitments | Whole loan spread to swap rate - fixed rate | Weighted Average |  |
Assets |  |
Loan purchase commitments, net, measurement inputs | 0.0305 |
Loan purchase and interest rate lock commitments | Committed sales price | Minimum |  |
Assets |  |
Loan purchase commitments, measurement input | 100.94 |
Loan purchase and interest rate lock commitments | Committed sales price | Maximum |  |
Assets |  |
Loan purchase commitments, measurement input | 103.22 |
Loan purchase and interest rate lock commitments | Committed sales price | Weighted Average |  |
Assets |  |
Loan purchase commitments, measurement input | 102.25 |

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- Definition The fair value as of the balance sheet date of firm holdings in private equity, mezzanine, venture capital, merchant banking, real estate and special situations investments. Includes both pledged (to counterparties as collateral for financing transactions) and unpledged holdings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35711157&loc=d3e42546-110969 + Details
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