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Residential Loans - Quarterly Activity of Residential Loans Held-for-Investment (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 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     $ 3,005,041 $ 770,754
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) $ (11,663) $ (5,175) (27,076) (21,727)
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) (13,836) 159,687 5,177 15,254
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) (2,580) 21,938 9,896 (38,996)
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 464,189 0 1,669,683 270,506
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 $ 218 $ 0 $ (93,314)