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Real Estate Securities - Additional Information (Details)
$ in Thousands
3 Months Ended
Mar. 31, 2020
USD ($)
investment
Mar. 31, 2019
USD ($)
Dec. 31, 2019
USD ($)
investment
Investment Holdings [Line Items]      
Available-for-sale securities $ 129,243   $ 239,334
Trading securities 164,219   $ 860,540
Trading securities acquired 56,000 $ 154,000  
Trading securities sold 619,000 29,000  
Increase (decrease) in valuation of trading securities (263,000) 22,000  
Available-for-sale securities purchased 31,000 5,000  
Available-for-sale securities sold 46,000 42,000  
Net realized gains on AFS securities $ 4,000 $ 7,000  
Number of AFS securities (in investments) | investment 100   107
Number of securities in unrealized loss position | investment 57   1
Number of securities in a continuous unrealized loss position for twelve consecutive months or longer (in investments) | investment 0   1
Gross unrealized losses $ 24,316   $ 29
CECL credit allowance 1,525   0
Interest Only Senior Trading Securities      
Investment Holdings [Line Items]      
Debt securities, trading 40,000   64,000
Unpaid principal balance 0   84,000
Certificated Servicing Strips      
Investment Holdings [Line Items]      
Debt securities, trading 19,000   36,000
Re-preforming Loans Securities [Member]      
Investment Holdings [Line Items]      
Debt securities, trading 13,000   55,000
Residential      
Investment Holdings [Line Items]      
Available-for-sale securities 106,000   230,000
AFS securities, contractual maturities 20,000    
Marketable securities, due from five to ten years 2,000    
CECL credit allowance 37,717   32,940
Third Party Multifamily Mortgage-backed Securities      
Investment Holdings [Line Items]      
Available-for-sale securities 23,000   9,000
Mezzanine      
Investment Holdings [Line Items]      
Available-for-sale securities 0   13,687
Gross unrealized losses 0   0
CECL credit allowance 0    
Mezzanine | Subordinate Securities      
Investment Holdings [Line Items]      
Available-for-sale securities 0   13,687
Trading securities 53,781   538,489
Mezzanine | Sequoia securities      
Investment Holdings [Line Items]      
Trading securities 28,000   39,000
Mezzanine | Re-preforming Loans Securities [Member]      
Investment Holdings [Line Items]      
Trading securities 5,000   30,000
Mezzanine | Other Third Party Securities      
Investment Holdings [Line Items]      
Trading securities 26,000   104,000
Mezzanine | Third Party Multifamily Mortgage-backed Securities      
Investment Holdings [Line Items]      
Trading securities 0   395,000
Mezzanine | Trading securities      
Investment Holdings [Line Items]      
Unpaid principal balance 69,000   537,000
Residential Subordinate Securities | Trading securities      
Investment Holdings [Line Items]      
Unpaid principal balance 283,000   302,000
Subordinate Securities      
Investment Holdings [Line Items]      
Available-for-sale securities 129,243   199,855
Gross unrealized losses 24,316   0
CECL credit allowance 1,525    
Subordinate Securities | Credit Risk Transfer (CRT) Securities      
Investment Holdings [Line Items]      
Trading securities 20,000   90,000
Subordinate Securities | Other Third Party Securities      
Investment Holdings [Line Items]      
Trading securities 47,000   82,000
Subordinate Securities | Third Party Multifamily Mortgage-backed Securities      
Investment Holdings [Line Items]      
Trading securities 44,000   76,000
Subordinate | Subordinate Securities      
Investment Holdings [Line Items]      
Available-for-sale securities 129,243   199,855
Trading securities 70,879   171,984
Short Term Borrowing Agreement | Sequoia Choice | Sequoia securities      
Investment Holdings [Line Items]      
Trading securities pledged as collateral 51,026   111,341
Short Term Borrowing Agreement | Freddie Mac SLST | Sequoia securities      
Investment Holdings [Line Items]      
Trading securities pledged as collateral 307,175   381,640
Short Term Borrowing Agreement | Freddie Mac K-Series | Sequoia securities      
Investment Holdings [Line Items]      
Trading securities pledged as collateral $ 22,785   $ 252,284