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Segment Information (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Business Segment Financial Information
The following tables present financial information by segment for the three months ended March 31, 2025 and 2024.
Table 4.1 – Business Segment Financial Information
Three Months Ended March 31, 2025
(In Thousands)Sequoia Mortgage BankingCoreVest Mortgage BankingRedwood InvestmentsCorporate/
Other		Total
Interest income$31,683 $4,394 $235,721 $296 $272,094 
Interest expense(13,339)(2,389)(212,268)(16,156)(244,152)
Net interest income (expense)18,344 2,005 23,453 (15,860)27,942 
Non-interest income
Mortgage banking activities, net, excluding risk management derivatives1,364 13,847 — — 15,211 
Risk management derivatives gains (losses), net (1)
20,787 (2,945)— — 17,842 
Total Mortgage banking activities, net22,151 10,902 — — 33,053 
Investment fair value changes, net, excluding risk management derivatives— — (25,739)(80)(25,819)
Risk management derivatives gains, net (1)
— — 20,631 — 20,631 
Total Investment fair value changes, net— — (5,108)(80)(5,188)
HEI income, net— — 10,166 — 10,166 
Servicing income, net— — 3,407 — 3,407 
Fee income, net— 3,079 (728)— 2,351 
Other income (loss), net— — 370 1,180 1,550 
Realized gains, net— — 567 — 567 
Total non-interest income, net22,151 13,981 8,674 1,100 45,906 
General and administrative expenses(6,346)(10,597)(1,365)(19,163)(37,471)
Portfolio management costs— — (6,491)— (6,491)
Loan acquisition costs(1,071)(2,497)— — (3,568)
Other expenses— (2,202)(1,707)— (3,909)
(Provision for) benefit from income taxes(7,261)648 304 47 (6,262)
Net Income (Loss) (2)
$25,817 $1,338 $22,868 $(33,876)$16,147 
Total Assets$1,559,117 $343,985 $17,601,951 $366,722 $19,871,775 
(1)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations and Redwood Investments. For mortgage banking, also includes other derivative financial instruments such as loan purchase commitments and interest rate locks.
(2)Net Income (Loss) by segment is also referred to as Segment Contribution.
Three Months Ended March 31, 2024
(In Thousands)Sequoia Mortgage BankingCoreVest Mortgage BankingRedwood InvestmentsCorporate/
Other		Total
Interest income$14,313 $3,771 $184,898 $1,758 $204,740 
Interest expense(8,266)(2,877)(155,299)(14,088)(180,530)
Net interest income (expense)6,047 894 29,599 (12,330)24,210 
Non-interest income (loss)
Mortgage banking activities, net, excluding risk management derivatives4,738 4,220 — — 8,958 
Risk management derivatives gains, net (1)
3,089 2,509 — — 5,598 
Total Mortgage banking activities, net7,827 6,729 — — 14,556 
Investment fair value changes, net, excluding risk management derivatives— — 16,806 650 17,456 
Risk management derivatives gains, net (1)
— — 4,381 — 4,381 
Total Investment fair value changes, net— — 21,187 650 21,837 
HEI income, net— — 9,086 — 9,086 
Servicing income, net— — 4,225 — 4,225 
Fee income, net— 626 375 — 1,001 
Other income (loss), net— — 170 (945)(775)
Realized gains, net— — 314 95 409 
Total non-interest income (loss), net7,827 7,355 35,357 (200)50,339 
General and administrative expenses(4,789)(11,425)(2,175)(16,180)(34,569)
Portfolio management costs— — (3,588)(9)(3,597)
Loan acquisition costs(572)(1,663)— (2)(2,237)
Other expenses— (2,806)(555)— (3,361)
(Provision for) Benefit from income taxes(1,494)2,136 (1,146)(19)(523)
Net Income (Loss) (2)
$7,019 $(5,509)$57,492 $(28,740)$30,262 
Total Assets$594,842 $383,090 $13,692,180 $387,862 $15,057,974 
(1)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations and Redwood Investments. For mortgage banking, also includes other derivative financial instruments such as loan purchase commitments and interest rate locks.
(2)Net Income (Loss) by segment is also referred to as Segment Contribution.