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Business Purpose Loans - Classifications and Carrying Values of Business Purpose Residential Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019
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Residential Bridge, Held-for-sale at fair value |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans, at fair value | $ 0 | $ 0
Bridge loans held-for-investment |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans, at fair value | 641,765 | 745,006
Bridge loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans, at fair value | 641,765 | 745,006
Held-for-sale at fair value, Total |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans, at fair value | 245,394 | 331,565
Held-for-investment at fair value, Total |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans, at fair value | 3,890,959 | 3,175,178
Business Purpose Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans, at fair value | 4,136,353 | 3,506,743
Redwood | Single-family rental loans, held-for-sale |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans, at fair value | 245,394 | 331,565
Redwood | Single-family rental loans held-for-investment |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans, at fair value | 0 | 237,620
Redwood | Single-family rental loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans, at fair value | 245,394 | 569,185
CoreVest LLC | Single-family rental loans, held-for-sale |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans, at fair value | 0 | 0
CoreVest LLC | Single-family rental loans held-for-investment |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans, at fair value | 3,249,194 | 2,192,552
CoreVest LLC | Single-family rental loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Loans, at fair value | $ 3,249,194 | $ 2,192,552

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