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Fair Value of Financial Instruments - Market Valuation Adjustments, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Income	$ 5,376	$ (43)	$ 9,679	$ 654
Total Market Valuation Gains (Losses), Net	(130,735)	93,858	(132,594)	213,641
Mortgage Banking Activities, Net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(46,590)	45,759	(45,297)	121,321
Mortgage Banking Activities, Net | Residential loans, held-for-sale, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(24,517)	24,988	(51,716)	48,100
Mortgage Banking Activities, Net | Residential loan purchase commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(8,897)	51,919	(50,520)	(466)
Mortgage Banking Activities, Net | Single-family rental loans held-for-sale, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(40,034)	25,222	(64,502)	35,470
Mortgage Banking Activities, Net | Single-family rental loan interest rate lock commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	40	744	(685)	744
Mortgage Banking Activities, Net | Bridge loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	116	2,225	2,251	3,269
Mortgage Banking Activities, Net | Trading securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	1,315	(1,095)	4,101	(374)
Mortgage Banking Activities, Net | Risk management derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	25,387	(58,244)	115,774	34,578
Investment Fair Value Changes, Net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(87,972)	49,480	(94,092)	94,567
Investment Fair Value Changes, Net | Trading securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(17,358)	2,893	(21,600)	23,521
Investment Fair Value Changes, Net | Risk management derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	4,395	0	6,368	0
Investment Fair Value Changes, Net | Residential loans held-for-sale, at fair value (called Sequoia loans)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(8,010)	1,290	(12,262)	1,607
Investment Fair Value Changes, Net | Bridge loans held-for-investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(9,559)	(62)	(11,702)	3,242
Investment Fair Value Changes, Net | Servicer Advance Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(3,231)	(940)	(6,312)	(1,100)
Investment Fair Value Changes, Net | Excess MSRs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(2,220)	(2,477)	(3,428)	(4,430)
Investment Fair Value Changes, Net | Legacy Sequoia
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(336)	(216)	(1,050)	(915)
Investment Fair Value Changes, Net | Sequoia
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(5,886)	4,906	(9,708)	9,804
Investment Fair Value Changes, Net | Freddie Mac SLST
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(35,940)	36,316	(32,904)	40,433
Investment Fair Value Changes, Net | Freddie Mac K-Series
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(190)	1,855	74	10,776
Investment Fair Value Changes, Net | CAFL
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(21,828)	3,697	(17,780)	3,411
Investment Fair Value Changes, Net | Point Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	1,201	0	4,612	0
Investment Fair Value Changes, Net | HEIs at Redwood
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	1,596	2,080	2,788	7,395
Investment Fair Value Changes, Net | Other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	10,460	125	10,583	435
Investment Fair Value Changes, Net | Credit (losses) recoveries on AFS securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(1,066)	13	(1,771)	388
Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Income	3,827	(1,381)	6,795	(2,247)
Other Income | MSRs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Income	$ 3,827	$ (1,381)	$ 6,795	$ (2,247)

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