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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, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Total Market Valuation Gains, Net $ 29,839 $ 6,324 $ 73,859 $ 17,594
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, Net Total Market Valuation Gains, Net Total Market Valuation Gains, Net Total Market Valuation Gains, Net
Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets $ 1,098 $ (13,517) $ 22,935 $ (17,909)
HEI income, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 15,839 8,921 24,870 13,186
Other Income        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Mortgage servicing rights income (loss), net 1,196 1,071 3,443 361
Residential consumer loans held-for-sale | Mortgage Banking Activities, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 6,535 (1,085) 9,032 5,909
Residential consumer loan purchase commitments | Mortgage Banking Activities, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 7,770 2,420 1,419 2,181
Residential investor term loans held-for-sale | Mortgage Banking Activities, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 5,957 (1,132) 5,661 11,534
Residential investor term loans held-for-sale | Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets (337) (13,625) (1,337) (13,625)
Residential investor term loan interest rate lock commitments | Mortgage Banking Activities, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 111 0 111 0
Residential Investor Bridge | Mortgage Banking Activities, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 1,108 2,297 2,054 3,450
Trading securities | Mortgage Banking Activities, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 2,611 1,923 11,122 1,923
Trading securities | Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 621 4,572 4,802 6,533
Risk management derivatives, net | Mortgage Banking Activities, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets (12,386) 5,426 (6,788) (3,041)
Risk management derivatives, net | Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 2,544 7,679 6,925 (1,025)
Mortgage Banking Activities, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 11,706 9,849 22,611 21,956
Residential consumer 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]        
Changes in fair value of assets 0 0 0 183
Residential investor bridge loans held-for-investment | Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets (13,992) (8,149) (17,210) (6,773)
Servicer advance investments | Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 11,611 3,665 10,977 2,313
Excess MSRs | Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets (1,368) 1,070 (2,613) 842
Sequoia | Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 2,690 918 9,600 3,266
Freddie Mac SLST | Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets (5,137) (16,563) (1,407) (7,629)
Freddie Mac K-Series | Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 452 385 695 748
CAFL | Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 7,491 10,707 17,742 1,897
Other investments | Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets (3,991) (3,359) (6,382) (3,794)
Credit recoveries (losses) on AFS securities | Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 514 (71) 1,143 (99)
Other | Investment Fair Value Changes, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 0 (746) 0 (746)
Other | Other Income        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Mortgage servicing rights income (loss), net (31) (340) (248) (460)
HEI at Redwood | HEI income, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 11,663 8,468 17,806 12,308
Net investments in HEI securitization entities | HEI income, Net        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Changes in fair value of assets 4,176 453 7,064 878
MSRs | Other Income        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Mortgage servicing rights income (loss), net $ 1,227 $ 1,411 $ 3,691 $ 821