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Real Estate Securities - Trading Securities by Collateral Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Investment Holdings [Line Items]
Real estate securities	$ 153,010		$ 153,010		$ 125,667
Unpaid principal balance	216,771		216,771		245,855
Principal balance of securities acquired	10,750	$ 11,000	28,380	$ 77,721
Principal balance of securities sold	750	15,903	53,561	720,517
Net market valuation gains (losses) recorded	1,578	$ (3,600)	24,725	$ (224,679)
Senior IO Securities
Investment Holdings [Line Items]
Real estate securities	22,494		22,494		28,464
Unpaid principal balance	0		0		0
Mezzanine
Investment Holdings [Line Items]
Real estate securities	0		0		3,649
Unpaid principal balance	0		0		3,577
Subordinate
Investment Holdings [Line Items]
Real estate securities	130,516		130,516		93,554
Unpaid principal balance	216,771		216,771		242,278
Interest Only Senior Trading Securities | Senior IO Securities
Investment Holdings [Line Items]
Real estate securities	22,494		22,494		28,464
Interest Only Senior Trading Securities | Senior IO Securities | Sequoia
Investment Holdings [Line Items]
Real estate securities	15,000		15,000		13,000
Sequoia securities | Mezzanine
Investment Holdings [Line Items]
Real estate securities	0		0		3,649
RPL securities | Subordinate
Investment Holdings [Line Items]
Real estate securities	64,845		64,845		47,448
Multifamily loans, held-for-investment, at fair value | Subordinate
Investment Holdings [Line Items]
Real estate securities	11,298		11,298		5,592
Other third-party residential securities | Subordinate
Investment Holdings [Line Items]
Real estate securities	$ 54,373		$ 54,373		$ 40,514

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