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Multifamily Loans (Details)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
USD ($)
loan
Dec. 31, 2019
USD ($)
loan
Jun. 30, 2020
USD ($)
loan
Mar. 31, 2020
USD ($)
Jun. 30, 2019
USD ($)
Jun. 30, 2020
USD ($)
loan
Jun. 30, 2019
USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]              
Multifamily loans deconsolidated       $ 3,850,000      
Multifamily loans, 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 28 279          
Loan principal $ 465,000 $ 4,200,000 $ 465,000     $ 465,000  
Loans, at fair value $ 489,000 $ 4,410,000 $ 489,000     $ 489,000  
Weighted average original loan-to-value (LTV) 67.00%   67.00%     67.00%  
Weighted average coupon rate 4.25%   4.25%     4.25%  
Contract maturities           5 years  
Number of loans past due | loan 0 0 0     0  
Number of loans in foreclosure | loan 0 0 0     0  
Net market valuation gain (loss)     $ 19,000   $ 97,000 $ (64,000) $ 131,000
Multifamily loans, held-for-investment, at fair value | Maximum              
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]              
Weighted average maturity (in years)           10 years  
Held-for-investment at fair value | Redwood              
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]              
Number of loans | loan 0 2,940          
Loan principal   $ 2,050,000          
Loans, at fair value $ 0 $ 2,110,000 $ 0     $ 0  
Number of loans in foreclosure | loan   0          
Held-for-investment at fair value | Redwood | Financing Receivables, Equal to Greater than 90 Days Past Due              
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]              
Loan principal   $ 1,000          
Number of loans past due | loan   2