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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