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Fair Value of Financial Instruments - Portion of Net Gains (Losses) Attributable to Level 3 Assets and Liabilities Still Held Included in Net Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021
Residential loan purchase commitments, net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 liabilities still held included in net income | $ (488) | $ (696) | $ (527) | $ (724)
Point HEI Noncontrolling Interest |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 liabilities still held included in net income | (2,170) | 0 | (8,388) | 0
Point Entities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | 3,371 | 0 | 13,000 | 0
Held-for-investment at fair value | Residential loans at Redwood |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | (15,995) | 14,130 | (31,858) | 10,481
Held-for-investment at fair value | Sequoia |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | (6,222) | 4,693 | (11,203) | 8,893
Held-for-investment at fair value | Freddie Mac SLST |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | (36,014) | 36,137 | (33,074) | 40,225
Business purpose loans |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | (28,385) | 28,404 | (36,566) | 40,003
Consolidated Agency multifamily loans | Freddie Mac K-Series |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | (190) | 1,855 | 74 | 10,776
Single family rental loans | CAFL |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | (21,828) | 2,908 | (17,780) | 2,556
Trading Securities |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | (17,501) | 1,772 | (19,884) | 2,262
Servicer Advance Investments |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | (3,231) | (940) | (6,313) | (1,100)
MSRs |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | 4,248 | (330) | 7,644 | 273
Excess MSRs |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | (2,220) | (2,477) | (3,428) | (4,430)
HEIs at Redwood |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | 1,549 | 2,080 | 2,701 | 7,395
Residential loan purchase commitments, net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Net gains (losses) attributable to level 3 assets still held included in net income | $ 2,056 | $ 14,550 | $ 2,007 | $ 14,171

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