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Fair Value of Financial Instruments - Schedule of Market Valuation Adjustments, Net (Details) - USD ($) $ in Thousands | 12 Months Ended
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Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | $ 46,197 | $ (58,648) | $ 196,566
Mortgage servicing rights income (loss), net | 7,033 | 14,879 | 2,380
Total Market Valuation Gains (Losses), Net | $ 35,814 | $ (227,186) | $ 321,433
Mortgage Banking Activities, Net |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Investment, Type [Extensible Enumeration] | Total Market Valuation Gains (Losses), Net | Total Market Valuation Gains (Losses), Net | Total Market Valuation Gains (Losses), Net
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 | $ 20,376 | $ (77,192) | $ 73,332
Mortgage Banking Activities, Net | Residential loan purchase and commitments |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | 22,600 | (54,484) | 10,401
Mortgage Banking Activities, Net | BPL term loans held-for-sale |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | 16,500 | (91,025) | 63,206
Mortgage Banking Activities, Net | BPL term loan interest rate lock commitments |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | 0 | (666) | 666
Mortgage Banking Activities, Net | BPL bridge loans |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | 5,704 | 3,026 | 8,253
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 | (159) | 4,249 | (352)
Mortgage Banking Activities, Net | Risk management derivatives, net |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | (18,824) | 157,444 | 41,060
Investment Fair Value Changes, Net |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | (44,400) | (178,271) | 114,624
Investment Fair Value Changes, Net | BPL term loans held-for-sale |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | (14,430) | 0 | 0
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 | 11,251 | (38,471) | 23,935
Investment Fair Value Changes, Net | Risk management derivatives, net |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | (1,479) | 26,152 | 0
Investment Fair Value Changes, Net | Residential loans held-for-investment at Redwood (called Sequoia loans) |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | 183 | (16,651) | 2,812
Investment Fair Value Changes, Net | BPL bridge loans held-for-investment |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | (39,361) | (7,271) | (65)
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 | 11,863 | (11,075) | (925)
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 | (1,668) | (5,196) | (8,017)
Investment Fair Value Changes, Net | Net investments in Legacy Sequoia entities |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | (160) | (1,302) | (1,558)
Investment Fair Value Changes, Net | Net investments in Sequoia Choice entities |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | 2,567 | (23,818) | 14,176
Investment Fair Value Changes, Net | Net investments in Freddie Mac SLST entities |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | (13,446) | (76,778) | 62,374
Investment Fair Value Changes, Net | Net investments in Freddie Mac K-Series entities |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | 1,541 | 110 | 11,599
Investment Fair Value Changes, Net | Net investments in CAFL entities |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | 5,504 | (34,899) | 10,271
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 | (6,077) | 13,468 | (366)
Investment Fair Value Changes, Net | Other |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | (746) | 0 | 0
Investment Fair Value Changes, Net | Credit losses on AFS securities |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | 58 | (2,540) | 388
HEI income, Net |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | 35,117 | 2,714 | 13,425
HEI income, Net | HEI at Redwood |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | 30,749 | (201) | 13,207
HEI income, Net | Net investments in HEI securitization entities |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Changes in fair value of assets | 4,368 | 2,915 | 218
Other Income |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Mortgage servicing rights income (loss), net | (1,100) | 7,019 | (3,182)
Other Income | Other |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Mortgage servicing rights income (loss), net | (556) | (1,541) | 0
Other Income | MSRs |  |  |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] |  |  |
Mortgage servicing rights income (loss), net | $ (544) | $ 8,560 | $ (3,182)

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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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- Definition Indicates type of investment. Includes, but is not limited to, common stock, preferred stock, convertible security, fixed income security, government security, option purchased, warrant, loan participation and assignment, commercial paper, bankers' acceptance, certificates of deposit, short-term security, repurchase agreement, and other investment company. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480524/946-210-50-6 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480524/946-210-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.12-12A(Column A)(Footnote 2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column A)(Footnote 2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-12(Column A)(Footnote 2)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-12(Column C)(Footnote 5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-12B(Column A)(Footnote 1)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-12B(Column C)(Footnote 2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column F)(Footnote 7)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.12-12A(Column C)(Footnote 4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-2 + Details
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