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Real Estate Securities - Additional Information (Details)
3 Months Ended 9 Months Ended
Sep. 30, 2019
USD ($)
investment
Sep. 30, 2018
USD ($)
Sep. 30, 2019
USD ($)
investment
Sep. 30, 2018
USD ($)
Dec. 31, 2018
USD ($)
investment
Investment Holdings [Line Items]          
Trading securities $ 1,013,785,000   $ 1,013,785,000   $ 1,118,612,000
Trading securities acquired 66,000,000 $ 189,000,000 335,000,000 $ 567,000,000  
Trading securities sold 236,000,000 79,000,000 397,000,000 323,000,000  
Increase (decrease) in valuation of trading securities 15,000,000 6,000,000 56,000,000 2,000,000  
Available-for-sale securities purchased 12,000,000 1,000,000 21,000,000 7,000,000  
Available-for-sale securities sold 15,000,000 26,000,000 82,000,000 118,000,000  
Net realized gains on AFS securities $ 4,000,000 $ 7,000,000 $ 13,000,000 $ 21,000,000  
Number of AFS securities (in investments) | investment 113   113   128
Number of securities in unrealized loss position | investment 1   1   7
Number of securities in a continuous unrealized loss position for twelve consecutive months or longer (in investments) | investment 1   1   3
Reclassification out of Accumulated Other Comprehensive Income | Net Unrealized Gains on Available-for-Sale Securities          
Investment Holdings [Line Items]          
Other than temporary impairment $ 0   $ 0    
Subordinate          
Investment Holdings [Line Items]          
Trading securities 864,000,000   864,000,000   $ 960,000,000
Interest Only Senior Trading Securities          
Investment Holdings [Line Items]          
Debt securities, trading 58,000,000   58,000,000   82,000,000
Unpaid principal balance 88,000,000   88,000,000   78,000,000
Certificated Servicing Strips          
Investment Holdings [Line Items]          
Debt securities, trading 29,000,000   29,000,000   43,000,000
Residential          
Investment Holdings [Line Items]          
Securities pledged as collateral 736,000,000   736,000,000   844,000,000
Marketable securities, due from five to ten years 8,000,000   8,000,000    
Residential Subordinate Securities | Trading securities          
Investment Holdings [Line Items]          
Unpaid principal balance 1,010,000,000.00   1,010,000,000.00   1,120,000,000
Subordinate | Credit Risk Transfer (CRT) Securities          
Investment Holdings [Line Items]          
Trading securities 128,000,000   128,000,000   277,000,000
Subordinate | Sequoia securities          
Investment Holdings [Line Items]          
Trading securities 65,000,000   65,000,000   68,000,000
Subordinate | Other Third Party Securities          
Investment Holdings [Line Items]          
Trading securities 207,000,000   207,000,000   186,000,000
Subordinate | Third Party Multifamily Mortgage-backed Securities          
Investment Holdings [Line Items]          
Trading securities 464,000,000   464,000,000   429,000,000
Sequoia Choice          
Investment Holdings [Line Items]          
Trading securities pledged as collateral         130,000,000
Freddie Mac SLST          
Investment Holdings [Line Items]          
Trading securities pledged as collateral         229,000,000
Freddie Mac K-Series          
Investment Holdings [Line Items]          
Trading securities pledged as collateral         $ 18,000,000
Short Term Borrowing Agreement          
Investment Holdings [Line Items]          
Trading securities pledged as collateral 677,000,000   677,000,000    
Short Term Borrowing Agreement | AFS securities retained, at fair value | Residential          
Investment Holdings [Line Items]          
Securities pledged as collateral 59,000,000   59,000,000    
Short Term Borrowing Agreement | Sequoia Choice | Sequoia securities          
Investment Holdings [Line Items]          
Trading securities pledged as collateral 113,000,000   113,000,000    
Short Term Borrowing Agreement | Freddie Mac SLST | Sequoia securities          
Investment Holdings [Line Items]          
Trading securities pledged as collateral 385,000,000   385,000,000    
Short Term Borrowing Agreement | Freddie Mac K-Series | Sequoia securities          
Investment Holdings [Line Items]          
Trading securities pledged as collateral 209,000,000   209,000,000    
Subordinate Securities Financing Facility          
Investment Holdings [Line Items]          
Trading securities pledged as collateral 4,000,000   4,000,000    
Subordinate Securities Financing Facility | AFS securities retained, at fair value | Residential          
Investment Holdings [Line Items]          
Securities pledged as collateral 123,000,000   123,000,000    
Subordinate Securities Financing Facility | Sequoia Choice | Sequoia securities          
Investment Holdings [Line Items]          
Trading securities pledged as collateral 126,000,000   126,000,000    
Borrowing Agreement With FHLBC          
Investment Holdings [Line Items]          
Trading securities pledged as collateral $ 41,000,000   $ 41,000,000