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Fair Value of Financial Instruments - Quantitative Information about Significant Unobservable Inputs Used in Valuation of Level 3 Assets and Liabilities Measured at Fair Value (Details) $ in Thousands | 9 Months Ended |
--- | --- | ---
Sep. 30, 2021 USD ($) $ / loan | Dec. 31, 2020 USD ($)
Assets |  |
ABS issued, net, Fair value | $ | $ 7,756,101 | $ 6,900,362
Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities |  |
Liabilities |  |
Fair value of our investments | $ | 1,080,553 | 992,655
Variable Interest Entity, Primary Beneficiary | Collateralized Financing Entities | Point HEI |  |
Liabilities |  |
Fair value of our investments | $ | 10,348 | $ 0
ABS Issued |  |
Liabilities |  |
ABS issued | $ | $ 2,482,746 |
ABS Issued | Prepayment rate (annual CPR) | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.07 |
ABS Issued | Prepayment rate (annual CPR) | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.55 |
ABS Issued | Prepayment rate (annual CPR) | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.33 |
ABS Issued | Discount rate | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.01 |
ABS Issued | Discount rate | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.18 |
ABS Issued | Discount rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.03 |
ABS Issued | Default rate | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0 |
ABS Issued | Default rate | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.36 |
ABS Issued | Default rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.02 |
ABS Issued | Loss severity | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.25 |
ABS Issued | Loss severity | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.50 |
ABS Issued | Loss severity | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.32 |
CAFL |  |
Liabilities |  |
ABS issued | $ | $ 3,126,405 |
CAFL | Prepayment rate (annual CPR) | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.03 |
CAFL | Prepayment rate (annual CPR) | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.03 |
CAFL | Prepayment rate (annual CPR) | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.03 |
CAFL | Discount rate | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.01 |
CAFL | Discount rate | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.13 |
CAFL | Discount rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.03 |
CAFL | Default rate | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.02 |
CAFL | Default rate | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.18 |
CAFL | Default rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.09 |
CAFL | Loss severity | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.30 |
CAFL | Loss severity | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.30 |
CAFL | Loss severity | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.30 |
Freddie Mac SLST |  |
Liabilities |  |
ABS issued | $ | $ 1,550,111 |
Freddie Mac SLST | Prepayment rate (annual CPR) | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.06 |
Freddie Mac SLST | Prepayment rate (annual CPR) | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.08 |
Freddie Mac SLST | Prepayment rate (annual CPR) | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.06 |
Freddie Mac SLST | Discount rate | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.02 |
Freddie Mac SLST | Discount rate | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.07 |
Freddie Mac SLST | Discount rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.03 |
Freddie Mac SLST | Default rate | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.09 |
Freddie Mac SLST | Default rate | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.10 |
Freddie Mac SLST | Default rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.09 |
Freddie Mac SLST | Loss severity | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.35 |
Freddie Mac SLST | Loss severity | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.35 |
Freddie Mac SLST | Loss severity | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.35 |
Freddie Mac K-Series |  |
Liabilities |  |
ABS issued | $ | $ 451,402 |
Freddie Mac K-Series | Discount rate | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.01 |
Freddie Mac K-Series | Discount rate | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.08 |
Freddie Mac K-Series | Discount rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.02 |
Consolidated Point Entities |  |
Liabilities |  |
ABS issued | $ | $ 145,437 |
Consolidated Point Entities | Prepayment rate (annual CPR) | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.20 |
Consolidated Point Entities | Prepayment rate (annual CPR) | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.20 |
Consolidated Point Entities | Prepayment rate (annual CPR) | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.20 |
Consolidated Point Entities | Discount rate | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.03 |
Consolidated Point Entities | Discount rate | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.15 |
Consolidated Point Entities | Discount rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.04 |
Consolidated Point Entities | Default rate | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.06 |
Consolidated Point Entities | Default rate | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.06 |
Consolidated Point Entities | Default rate | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.06 |
Consolidated Point Entities | Loss severity | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.25 |
Consolidated Point Entities | Loss severity | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.25 |
Consolidated Point Entities | Loss severity | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.25 |
Consolidated Point Entities | Home price appreciation | Minimum |  |
Liabilities |  |
ABS issued, measurement input | 0.03 |
Consolidated Point Entities | Home price appreciation | Maximum |  |
Liabilities |  |
ABS issued, measurement input | 0.04 |
Consolidated Point Entities | Home price appreciation | Weighted Average |  |
Liabilities |  |
ABS issued, measurement input | 0.03 |
Jumbo fixed-rate loans |  |
Assets |  |
ABS issued, net, Fair value | $ | $ 624,477 |
Jumbo fixed-rate loans | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Loans held-for-sale, measurement input | 0.20 |
Jumbo fixed-rate loans | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Loans held-for-sale, measurement input | 0.20 |
Jumbo fixed-rate loans | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Loans held-for-sale, measurement input | 0.20 |
Jumbo fixed-rate loans | Whole Loan Spread to TBA Price | Minimum |  |
Assets |  |
Loans held-for-sale, measurement input | 3.00 |
Jumbo fixed-rate loans | Whole Loan Spread to TBA Price | Maximum |  |
Assets |  |
Loans held-for-sale, measurement input | 3.00 |
Jumbo fixed-rate loans | Whole Loan Spread to TBA Price | Weighted Average |  |
Assets |  |
Loans held-for-sale, measurement input | 3.00 |
Jumbo fixed-rate loans | Whole loan spread to swap rate | Minimum |  |
Assets |  |
Loans held-for-sale, measurement input | 0.0202 |
Jumbo fixed-rate loans | Whole loan spread to swap rate | Maximum |  |
Assets |  |
Loans held-for-sale, measurement input | 0.0202 |
Jumbo fixed-rate loans | Whole loan spread to swap rate | Weighted Average |  |
Assets |  |
Loans held-for-sale, measurement input | 0.0202 |
Jumbo loans committed to sell |  |
Assets |  |
Loans receivable, fair value | $ | $ 870,568 |
Jumbo loans committed to sell | Whole loan committed sales price | Minimum |  |
Assets |  |
Loans held-for-sale, measurement input | 101.90 |
Jumbo loans committed to sell | Whole loan committed sales price | Maximum |  |
Assets |  |
Loans held-for-sale, measurement input | 103.32 |
Jumbo loans committed to sell | Whole loan committed sales price | Weighted Average |  |
Assets |  |
Loans held-for-sale, measurement input | 102.46 |
Legacy Sequoia |  |
Assets |  |
Loans receivable, fair value | $ | $ 242,234 |
Sequoia |  |
Assets |  |
Loans receivable, fair value | $ | 2,479,750 |
Liabilities |  |
Fair value of securities owned | $ | 240,000 |
Freddie Mac SLST |  |
Assets |  |
Loans receivable, fair value | $ | 1,999,405 |
Liabilities |  |
Fair value of securities owned | $ | 451,000 |
Single-family rental loans |  |
Assets |  |
Loans receivable, fair value | $ | $ 466,346 |
Single-family rental loans | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.03 |
Single-family rental loans | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Loans receivable, measurement input | 0.03 |
Single-family rental loans | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.03 |
Single-family rental loans | Senior credit spread | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.0065 |
Single-family rental loans | Senior credit spread | Maximum |  |
Assets |  |
Loans receivable, measurement input | 0.0065 |
Single-family rental loans | Senior credit spread | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.0065 |
Single-family rental loans | Subordinate credit spread | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.0110 |
Single-family rental loans | Subordinate credit spread | Maximum |  |
Assets |  |
Loans receivable, measurement input | 0.1523 |
Single-family rental loans | Subordinate credit spread | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.0401 |
Single-family rental loans | Senior credit support | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.35 |
Single-family rental loans | Senior credit support | Maximum |  |
Assets |  |
Loans receivable, measurement input | 0.35 |
Single-family rental loans | Senior credit support | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.35 |
Single-family rental loans | IO discount rate | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.09 |
Single-family rental loans | IO discount rate | Maximum |  |
Assets |  |
Loans receivable, measurement input | 0.09 |
Single-family rental loans | IO discount rate | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.09 |
Single-family rental loans | Non-securitizable loan dollar price | Minimum |  |
Assets |  |
Loans receivable, measurement input | 76 |
Single-family rental loans | Non-securitizable loan dollar price | Maximum |  |
Assets |  |
Loans receivable, measurement input | 111 |
Single-family rental loans | Non-securitizable loan dollar price | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 101 |
CAFL |  |
Assets |  |
Loans receivable, fair value | $ | $ 3,402,410 |
Liabilities |  |
Fair value of securities owned | $ | 288,000 |
Bridge loans |  |
Assets |  |
Loans receivable, fair value | $ | $ 824,799 |
Bridge loans | Discount rate | Minimum |  |
Assets |  |
Loans held-for-investment, measurement input | 0.04 |
Bridge loans | Discount rate | Maximum |  |
Assets |  |
Loans held-for-investment, measurement input | 0.15 |
Bridge loans | Discount rate | Weighted Average |  |
Assets |  |
Loans held-for-investment, measurement input | 0.06 |
Freddie Mac K-Series |  |
Assets |  |
Loans receivable, fair value | $ | $ 482,791 |
Liabilities |  |
Fair value of securities owned | $ | 31,000 |
Trading and AFS securities |  |
Assets |  |
Trading and AFS securities | $ | $ 353,286 |
Trading and AFS securities | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Trading and AFS securities | 0.08 |
Trading and AFS securities | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Trading and AFS securities | 0.58 |
Trading and AFS securities | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Trading and AFS securities | 0.27 |
Trading and AFS securities | Discount rate | Minimum |  |
Assets |  |
Trading and AFS securities | 0.02 |
Trading and AFS securities | Discount rate | Maximum |  |
Assets |  |
Trading and AFS securities | 0.38 |
Trading and AFS securities | Discount rate | Weighted Average |  |
Assets |  |
Trading and AFS securities | 0.07 |
Trading and AFS securities | Default rate | Minimum |  |
Assets |  |
Trading and AFS securities | 0 |
Trading and AFS securities | Default rate | Maximum |  |
Assets |  |
Trading and AFS securities | 0.25 |
Trading and AFS securities | Default rate | Weighted Average |  |
Assets |  |
Trading and AFS securities | 0.04 |
Trading and AFS securities | Loss severity | Minimum |  |
Assets |  |
Trading and AFS securities | 0 |
Trading and AFS securities | Loss severity | Maximum |  |
Assets |  |
Trading and AFS securities | 0.50 |
Trading and AFS securities | Loss severity | Weighted Average |  |
Assets |  |
Trading and AFS securities | 0.24 |
Trading and AFS securities | Measurement Input, CRT Dollar Price | Minimum |  |
Assets |  |
Trading and AFS securities | 96 |
Trading and AFS securities | Measurement Input, CRT Dollar Price | Maximum |  |
Assets |  |
Trading and AFS securities | 116 |
Trading and AFS securities | Measurement Input, CRT Dollar Price | Weighted Average |  |
Assets |  |
Trading and AFS securities | 104 |
Servicer Advance Investments |  |
Assets |  |
Servicing asset | $ | $ 170,062 |
Servicer Advance Investments | Minimum |  |
Assets |  |
Expected remaining life | 5 years |
Servicer Advance Investments | Maximum |  |
Assets |  |
Expected remaining life | 5 years |
Servicer Advance Investments | Weighted Average |  |
Assets |  |
Expected remaining life | 5 years |
Servicer Advance Investments | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Servicing asset, measurement input | 0.20 |
Servicer Advance Investments | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Servicing asset, measurement input | 0.30 |
Servicer Advance Investments | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Servicing asset, measurement input | 0.21 |
Servicer Advance Investments | Discount rate | Minimum |  |
Assets |  |
Servicing asset, measurement input | 0.02 |
Servicer Advance Investments | Discount rate | Maximum |  |
Assets |  |
Servicing asset, measurement input | 0.03 |
Servicer Advance Investments | Discount rate | Weighted Average |  |
Assets |  |
Servicing asset, measurement input | 0.02 |
Servicer Advance Investments | Mortgage servicing income | Minimum |  |
Assets |  |
Servicing asset, measurement input | 0.0002 |
Servicer Advance Investments | Mortgage servicing income | Maximum |  |
Assets |  |
Servicing asset, measurement input | 0.0011 |
Servicer Advance Investments | Mortgage servicing income | Weighted Average |  |
Assets |  |
Servicing asset, measurement input | 0.0009 |
MSRs |  |
Assets |  |
Servicing asset | $ | $ 12,389 |
MSRs | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Servicing asset, measurement input | 0.06 |
MSRs | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Servicing asset, measurement input | 0.80 |
MSRs | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Servicing asset, measurement input | 0.28 |
MSRs | Discount rate | Minimum |  |
Assets |  |
Servicing asset, measurement input | 0.12 |
MSRs | Discount rate | Maximum |  |
Assets |  |
Servicing asset, measurement input | 0.15 |
MSRs | Discount rate | Weighted Average |  |
Assets |  |
Servicing asset, measurement input | 0.13 |
MSRs | Per loan annual cost to service | Minimum |  |
Assets |  |
Servicing asset, measurement input | 95 |
MSRs | Per loan annual cost to service | Maximum |  |
Assets |  |
Servicing asset, measurement input | 95 |
MSRs | Per loan annual cost to service | Weighted Average |  |
Assets |  |
Servicing asset, measurement input | 95 |
Excess MSRs |  |
Assets |  |
Servicing asset | $ | $ 29,185 |
Excess MSRs | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Servicing asset, measurement input | 0.21 |
Excess MSRs | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Servicing asset, measurement input | 0.30 |
Excess MSRs | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Servicing asset, measurement input | 0.25 |
Excess MSRs | Discount rate | Minimum |  |
Assets |  |
Servicing asset, measurement input | 0.13 |
Excess MSRs | Discount rate | Maximum |  |
Assets |  |
Servicing asset, measurement input | 0.16 |
Excess MSRs | Discount rate | Weighted Average |  |
Assets |  |
Servicing asset, measurement input | 0.15 |
Excess MSRs | Excess mortgage servicing income | Minimum |  |
Assets |  |
Servicing asset, measurement input | 0.0008 |
Excess MSRs | Excess mortgage servicing income | Maximum |  |
Assets |  |
Servicing asset, measurement input | 0.0017 |
Excess MSRs | Excess mortgage servicing income | Weighted Average |  |
Assets |  |
Servicing asset, measurement input | 0.0011 |
HEIs at Redwood |  |
Assets |  |
HEIs | $ | $ 414 |
HEIs at Redwood | Dollar Price | Minimum |  |
Assets |  |
Loans receivable, measurement input | 92 |
HEIs at Redwood | Dollar Price | Maximum |  |
Assets |  |
Loans receivable, measurement input | 124 |
HEIs at Redwood | Dollar Price | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 105 |
HEIs held by Point HEI entity |  |
Assets |  |
HEIs | $ | $ 167,442 |
REO |  |
Assets |  |
REO | $ | $ 622 |
REO | Loss severity | Minimum |  |
Assets |  |
REO, measurement input | 0.11 |
REO | Loss severity | Maximum |  |
Assets |  |
REO, measurement input | 0.40 |
REO | Loss severity | Weighted Average |  |
Assets |  |
REO, measurement input | 0.22 |
Residential loan purchase commitments, net |  |
Assets |  |
Loan purchase commitments, net | $ | $ 6,712 |
Residential loan purchase commitments, net | Prepayment rate (annual CPR) | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.20 |
Residential loan purchase commitments, net | Prepayment rate (annual CPR) | Maximum |  |
Assets |  |
Loans receivable, measurement input | 0.20 |
Residential loan purchase commitments, net | Prepayment rate (annual CPR) | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.20 |
Residential loan purchase commitments, net | Whole Loan Spread to TBA Price | Minimum |  |
Assets |  |
Loans receivable, measurement input | 3.00 |
Residential loan purchase commitments, net | Whole Loan Spread to TBA Price | Maximum |  |
Assets |  |
Loans receivable, measurement input | 3.00 |
Residential loan purchase commitments, net | Whole Loan Spread to TBA Price | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 3.00 |
Residential loan purchase commitments, net | Whole loan spread to swap rate | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.0185 |
Residential loan purchase commitments, net | Whole loan spread to swap rate | Maximum |  |
Assets |  |
Loans receivable, measurement input | 0.0202 |
Residential loan purchase commitments, net | Whole loan spread to swap rate | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.0201 |
Residential loan purchase commitments, net | Committed sales price | Minimum |  |
Assets |  |
Loans receivable, measurement input | 102.11 |
Residential loan purchase commitments, net | Committed sales price | Maximum |  |
Assets |  |
Loans receivable, measurement input | 102.77 |
Residential loan purchase commitments, net | Committed sales price | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 102.54 |
Residential loan purchase commitments, net | Pull-through rate | Minimum |  |
Assets |  |
Loans receivable, measurement input | 0.04 |
Residential loan purchase commitments, net | Pull-through rate | Maximum |  |
Assets |  |
Loans receivable, measurement input | 1 |
Residential loan purchase commitments, net | Pull-through rate | Weighted Average |  |
Assets |  |
Loans receivable, measurement input | 0.71 |

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