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Residential Loans - Activity of Residential Loans Held-for-Investment (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
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 $ 5,026,723 $ 1,868,656 $ 1,801,560
Residential loans, held-for-investment | Sequoia      
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]      
Valuation adjustments (66,727) (30,356)  
Residential loans, held-for-investment | Freddie Mac SLST(1)      
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]      
Valuation adjustments (14,735) 35,131  
Residential loans, held-for-investment | Legacy Sequoia      
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]      
Valuation adjustments 12,125 (30,900)  
Residential loans, held-for-investment | 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 3,035,100 270,506  
Residential loans, held-for-investment | 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 13,258  
Transfers from loans held-for-investment to loans held-for-sale 0 1,870,986  
Gain (loss) on assets measured at fair value on a non-recurring basis $ 0 $ (93,314)