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Residential Loans - Quarterly Activity of Residential Loans Held-for-Investment (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]    
Transfers from loans held-for-sale to loans held-for-investment $ 301,298 $ 382,635
Held-for-investment at fair value | Sequoia Choice    
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]    
Net market valuation gain (loss) (2,578) (110,485)
Held-for-investment at fair value | Freddie Mac SLST    
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]    
Net market valuation gain (loss) (3,566) (193,020)
Held-for-investment at fair value | Legacy Sequoia    
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]    
Net market valuation gain (loss) 7,613 (69,014)
Held-for-investment at fair value | Redwood    
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]    
Transfers from loans held-for-sale to loans held-for-investment 0 13,258
Transfers from loans held-for-investment to loans held-for-sale 0 1,870,986
Net market valuation gains (losses) recorded $ 0 $ (93,636)