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Residential Loans - Quarterly Activity of Residential Loans Held-for-Investment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 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 |  |  | $ 1,998,535 | $ 706,775
Held-for-investment at fair value | Sequoia |  |  |  |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] |  |  |  |
Net market valuation gain (loss) | $ (12,835) | $ 93,932 | (15,413) | (16,553)
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) | 22,579 | 48,587 | 19,014 | (144,433)
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) | 4,863 | 8,081 | 12,476 | (60,933)
Held-for-investment at fair value | Sequoia |  |  |  |
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 | 1,205,494 | 270,506 | 1,205,494 | 270,506
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 | 0 | 0 | 13,258
Transfers from loans held-for-investment to loans held-for-sale | 0 | 0 | 0 | 1,870,986
Net market valuation gains (losses) recorded | $ 0 | $ 104 | $ 0 | $ (93,532)

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- Definition Amount of financing receivable reclassified to held-for-sale. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 11 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919244-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524 + Details
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