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Residential Loans - Quarterly Activity of Residential Loans Held-for-Investment (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Fair value of loans transferred     $ 2,009,030 $ 2,643,027
Held-for-investment at fair value | Sequoia        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Net market valuation gains (losses) recorded $ (175,011) $ (202,825) (166,909) (685,042)
Held-for-investment at fair value | Freddie Mac SLST        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Net market valuation gains (losses) recorded (51,046) (104,040) (62,756) (224,543)
Held-for-investment at fair value | Legacy Sequoia        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Net market valuation gains (losses) recorded (2,242) 5,182 4,014 12,286
Held-for-investment at fair value | Sequoia        
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]        
Fair value of loans transferred $ 337,752 $ 0 $ 995,047 $ 684,491