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Business Purpose Loans - Classifications and Carrying Values of Business Purpose Residential Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020
--- | --- | ---
Residential Bridge, Held-for-sale at fair value |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | $ 0 | $ 0
Bridge loans held-for-investment |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 626,484 | 641,765
Residential bridge loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 626,484 | 641,765
Held-for-sale at fair value, Total |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 333,110 | 245,394
Held-for-investment at fair value, Total |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 3,839,010 | 3,890,959
Business Purpose Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 4,172,120 | 4,136,353
Redwood | Single-family rental loans, held-for-sale |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 333,110 | 245,394
Redwood | Single-family rental loans held-for-investment |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 0 | 0
Redwood | Single family rental loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 333,110 | 245,394
CoreVest | Single-family rental loans, held-for-sale |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 0 | 0
CoreVest | Single-family rental loans held-for-investment |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 3,212,526 | 3,249,194
CoreVest | Single family rental loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | $ 3,212,526 | $ 3,249,194

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