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Real Estate Securities - Trading Securities by Collateral Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Investment Holdings [Line Items]
Real estate securities	$ 145,390		$ 125,667
Unpaid principal balance	225,762		245,855
Principal balance of securities acquired	15,880	$ 56,471
Principal balance of securities sold	34,743	618,867
Net market valuation gains (losses) recorded	21,349	$ (263,325)
Senior IO Securities
Investment Holdings [Line Items]
Real estate securities	31,580		28,464
Unpaid principal balance	0		0
Mezzanine
Investment Holdings [Line Items]
Real estate securities	0		3,649
Unpaid principal balance	0		3,577
Subordinate
Investment Holdings [Line Items]
Real estate securities	113,810		93,554
Unpaid principal balance	225,762		242,278
Interest Only Senior Trading Securities | Senior IO Securities
Investment Holdings [Line Items]
Real estate securities	31,580		28,464
Interest Only Senior Trading Securities | Senior IO Securities | Sequoia Choice
Investment Holdings [Line Items]
Real estate securities	18,000		13,000
Sequoia securities | Mezzanine
Investment Holdings [Line Items]
Real estate securities	0		3,649
RPL securities | Subordinate
Investment Holdings [Line Items]
Real estate securities	59,958		47,448
Multifamily loans, held-for-investment, at fair value | Subordinate
Investment Holdings [Line Items]
Real estate securities	9,437		5,592
Other third-party residential securities | Subordinate
Investment Holdings [Line Items]
Real estate securities	$ 44,415		$ 40,514

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