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Business Purpose Residential Loans (Details)
$ in Thousands
2 Months Ended 3 Months Ended 9 Months Ended 10 Months Ended 12 Months Ended
Dec. 31, 2019
USD ($)
loan
Dec. 31, 2018
USD ($)
loan
Feb. 28, 2019
USD ($)
Dec. 31, 2019
USD ($)
loan
Sep. 30, 2019
USD ($)
Dec. 31, 2019
USD ($)
loan
Dec. 31, 2019
USD ($)
loan
Dec. 31, 2018
USD ($)
loan
Dec. 31, 2017
USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Number of loans | loan             669 1,484  
Principal amount outstanding on loans securitized $ 524,928 $ 1,034,284   $ 524,928   $ 524,928 $ 524,928 $ 1,034,284  
Purchases of held-for-sale loans             5,823,547 7,162,131 $ 5,705,842
Proceeds from sales of held-for-sale loans             $ 5,198,089 5,383,313 3,903,147
Number of loans transferred | loan             3    
Transfers from residential loans to real estate owned             $ 8,609 $ 4,104 4,220
Commitment To Fund Residential Bridge Loan                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Other commitment $ 173,000     173,000   173,000 $ 173,000    
Single-family rental loans, held-for-sale                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Number of loans | loan 201 11         201 11  
Principal amount outstanding on loans securitized $ 321,636 $ 27,566   321,636   321,636 $ 321,636 $ 27,566  
Residential loans $ 332,000 $ 28,000   $ 332,000   $ 332,000 $ 332,000 $ 28,000  
Number of loans in foreclosure | loan 1 0   1   1 1 0  
Loans held as assets amount in foreclosure $ 100     $ 100   $ 100 $ 100    
Purchases of held-for-sale loans     $ 19,000     $ 514,000      
Gain (loss) on investments             $ 13,000    
Loans maturity one             5 years    
Loans maturity two             7 years    
Loans maturity three             10 years    
Weighted average coupon rate 4.96%     4.96%   4.96% 4.96%    
Contract maturities             9 years    
Weighted average original loan-to-value (LTV) 69.00%     69.00%   69.00% 69.00%    
Weighted-average debt service coverage ratio             1.43    
Single-family rental loans, held-for-sale | Redwood                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Residential loans $ 331,565 $ 28,460   $ 331,565   $ 331,565 $ 331,565 $ 28,460  
Purchases of held-for-sale loans             238,000    
Single-family rental loans, held-for-sale | CoreVest LLC                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Residential loans $ 0 0   0   0 0 0  
Purchases of held-for-sale loans       407,000          
Single-family rental loans, held-for-sale | CAFL                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Purchases of held-for-sale loans             394,000    
Proceeds from sales of held-for-sale loans             $ 20,000    
Single-family rental loans held-for-investment | Redwood                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Number of loans | loan 107           107    
Principal amount outstanding on loans securitized $ 231,211     231,211   231,211 $ 231,211    
Residential loans $ 237,620 0   $ 237,620   $ 237,620 $ 237,620 0  
Number of loans past due | loan 0     0   0 0    
Gain (loss) on investments             $ 300    
Loans maturity one             5 years    
Loans maturity two             7 years    
Loans maturity three             10 years    
Weighted average coupon rate 4.89%     4.89%   4.89% 4.89%    
Contract maturities             7 years    
Weighted average original loan-to-value (LTV) 68.00%     68.00%   68.00% 68.00%    
Weighted-average debt service coverage ratio             1.36    
Single-family rental loans held-for-investment | CoreVest LLC                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Residential loans $ 2,192,552 0   $ 2,192,552   $ 2,192,552 $ 2,192,552 0  
Single-family rental loans held-for-investment | CAFL                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Number of loans | loan 783           783    
Principal amount outstanding on loans securitized $ 2,078,214     2,078,214   2,078,214 $ 2,078,214    
Residential loans $ 2,190,000     $ 2,190,000   $ 2,190,000 $ 2,190,000    
Number of loans in foreclosure | loan 5     5   5 5    
Loans held as assets amount in foreclosure $ 9,000     $ 9,000   $ 9,000 $ 9,000    
Purchases of held-for-sale loans             2,000    
Gain (loss) on investments             $ (15,000)    
Loans maturity one             5 years    
Loans maturity two             7 years    
Loans maturity three             10 years    
Weighted average coupon rate 5.70%     5.70%   5.70% 5.70%    
Contract maturities             7 years    
Weighted average original loan-to-value (LTV) 68.00%     68.00%   68.00% 68.00%    
Weighted-average debt service coverage ratio             1.35    
Single-family rental loans                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Proceeds from loan originations to third parties           $ 20,000      
Single-family rental loans | Redwood                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Residential loans $ 569,185 28,460   $ 569,185   569,185 $ 569,185 28,460  
Single-family rental loans | CoreVest LLC                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Residential loans 2,192,552 0   2,192,552   2,192,552 2,192,552 0  
Residential Bridge, Held-for-sale at fair value                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Residential loans $ 0 $ 0   0   0 $ 0 $ 0  
Residential Bridge, Held-for-investment at fair value                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Number of loans | loan 2,653 157         2,653 157  
Principal amount outstanding on loans securitized $ 741,232 $ 112,360   741,232   741,232 $ 741,232 $ 112,360  
Residential loans $ 745,006 $ 112,798   $ 745,006   $ 745,006 $ 745,006 $ 112,798  
Number of loans in foreclosure | loan 31 4   31   31 31 4  
Loans held as assets amount in foreclosure $ 14,000 $ 11,000   $ 14,000   $ 14,000 $ 14,000 $ 11,000  
Purchases of held-for-sale loans     $ 10,000     $ 448,000      
Gain (loss) on investments             $ (2,000)    
Weighted average coupon rate 8.11%     8.11%   8.11% 8.11%    
Weighted average original loan-to-value (LTV) 70.00%     70.00%   70.00% 70.00%    
Aggregate fair value, delinquent or in foreclosure $ 12,000     $ 12,000   $ 12,000 $ 12,000    
Transfers from residential loans to real estate owned             $ 8,000    
Weighted average original Fair Isaac Corporation (FICO) score 732     732   732 732    
Residential Bridge, Held-for-investment at fair value | Minimum                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Contract maturities             6 months    
Residential Bridge, Held-for-investment at fair value | Maximum                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Contract maturities             24 months    
Residential Bridge, Held-for-investment at fair value | CoreVest LLC                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Purchases of held-for-sale loans       $ 375,000          
Residential bridge loans                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Proceeds from loan originations to third parties           $ 56,000      
Residential loans $ 745,006 112,798   745,006   745,006 $ 745,006 112,798  
Held-for-sale at fair value, Total                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Residential loans 331,565 28,460   331,565   331,565 331,565 28,460  
Held-for-investment at fair value, Total                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Residential loans 3,175,178 112,798   3,175,178   3,175,178 3,175,178 112,798  
Business purpose residential loans                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Fee income           16,000      
Residential loans $ 3,506,743 $ 141,258   $ 3,506,743   $ 3,506,743 $ 3,506,743 $ 141,258  
Financing Receivables, Equal to Greater than 90 Days Past Due | Single-family rental loans, held-for-sale                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Number of loans past due | loan 2 0   2   2 2 0  
Loans held as assets, 90 days or more past due   $ 2,000           $ 2,000  
Financing Receivables, Equal to Greater than 90 Days Past Due | Single-family rental loans held-for-investment | CAFL                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Number of loans past due | loan 18     18   18 18    
Loans held as assets, 90 days or more past due $ 29,000     $ 29,000   $ 29,000 $ 29,000    
Financing Receivables, Equal to Greater than 90 Days Past Due | Residential Bridge, Held-for-investment at fair value                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Number of loans past due | loan 15 7   15   15 15 7  
Loans held as assets, 90 days or more past due $ 9,000 $ 12,000   $ 9,000   $ 9,000 $ 9,000 $ 12,000  
Aggregate fair value, delinquent or in foreclosure $ 7,000     $ 7,000   7,000 7,000    
Residential bridge loans | Business Purpose Mortgage Banking                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Changes in fair value of assets         $ 5,000   $ 4,518 $ 0 $ 0
Business purpose residential loans                  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]                  
Proceeds from loan originations           $ 1,020,000