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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)