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Fair Value of Financial Instruments - Market Valuation Adjustments, Net (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | $ 16,318 | $ (50,893) | $ 1,275 | $ (183,487)
Mortgage Banking Activities, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 15,328 | 6,420 | 37,283 | (38,877)
Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | (31,430) | (57,697) | (36,153) | (151,789)
Other Income |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | (216) | 384 | 145 | 7,179
Residential loans, held-for-sale, at fair value | Mortgage Banking Activities, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | (8,683) | (20,060) | (2,774) | (71,776)
Residential loan purchase commitments | Mortgage Banking Activities, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 5,864 | (2,716) | 8,045 | (53,236)
BPL term loans held-for-sale | Mortgage Banking Activities, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 1,600 | (19,325) | 13,214 | (83,827)
BPL term loans held-for-sale | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 0 | 0 | (14,430) | 0
BPL term loan interest rate lock commitments | Mortgage Banking Activities, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 0 | 19 | 0 | (666)
BPL bridge loans | Mortgage Banking Activities, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 1,438 | (9) | 4,808 | 2,242
Trading securities | Mortgage Banking Activities, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | (482) | 148 | 2,188 | 4,249
Trading securities | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 5,738 | (12,668) | 12,271 | (34,268)
Risk management derivatives, net | Mortgage Banking Activities, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 15,591 | 48,363 | 11,802 | 164,137
Risk management derivatives, net | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 7,471 | 27,241 | 6,446 | 33,609
Residential loans held-for-investment, at Redwood (called Sequoia loans) | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 0 | (6,614) | 183 | (18,876)
BPL bridge loans held-for-investment | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | (16,899) | 2,482 | (22,867) | (9,220)
Servicer Advance Investments | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 4,069 | (3,905) | 6,382 | (10,217)
Excess MSRs | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | (1,450) | (351) | (608) | (3,779)
Legacy Sequoia | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | (215) | (328) | (319) | (1,378)
Sequoia | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | (4,256) | (10,936) | (886) | (20,644)
Freddie Mac SLST | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | (32,388) | (41,892) | (40,017) | (74,796)
Freddie Mac K-Series | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 390 | 316 | 1,138 | 390
CAFL | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | (3,800) | (6,585) | (1,903) | (24,365)
Point Entities | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 968 | (584) | 1,846 | 4,028
HEI at Redwood | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 9,290 | (4,774) | 21,598 | (1,986)
Other investments | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | (414) | 1,445 | (4,208) | 12,028
Credit losses on AFS securities, net | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 66 | (544) | (33) | (2,315)
Other | Investment Fair Value Changes, Net |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | 0 | 0 | (746) | 0
Other | Other Income |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | (7) | (852) | (467) | (852)
MSRs | Other Income |  |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |  |
Total Market Valuation Gains (Losses), Net | $ (209) | $ 1,236 | $ 612 | $ 8,031

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- Definition The aggregate net change in market value for certain assets and liabilities that was included in earnings for the period. This includes changes in market values for assets and liabilities accounted for at fair value, as well as the credit portion of other-than-temporary impairments on securities available for sale, impairments on loans held-for-sale and real estate owned. + References No definition available. + Details
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