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Business Purpose Loans - Classifications and Carrying Values of Business Purpose Residential Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020
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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 | 548,445 | 641,765
Residential bridge loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 548,445 | 641,765
Held-for-sale at fair value, Total |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 466,346 | 245,394
Held-for-investment at fair value, Total |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 4,227,209 | 3,890,959
Business Purpose Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 4,693,555 | 4,136,353
Redwood | Single-family rental loans, held-for-sale |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 466,346 | 245,394
Redwood | Single Family Rental Loans Held For Investment At Fair Value |  |
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 | 466,346 | 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 At Fair Value |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 3,402,410 | 3,249,194
CoreVest | Single family rental loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 3,402,410 | 3,249,194
CoreVest | Bridge Loans, Held-For-Sale At Fair Value |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 0 | 0
CoreVest | Bridge Loans Held For Investment At Fair Value |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | 276,354 | 0
CoreVest | Bridge Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Fair value of loans | $ 276,354 | $ 0

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