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Business Purpose Residential Loans (Details)
3 Months Ended 9 Months Ended
Sep. 30, 2020
USD ($)
loan
Dec. 31, 2019
USD ($)
loan
Sep. 30, 2020
USD ($)
loan
Sep. 30, 2019
USD ($)
Sep. 30, 2020
USD ($)
loan
Sep. 30, 2019
USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Proceeds from sales of held-for-sale loans         $ 3,224,526,000 $ 2,971,811,000
Purchases of held-for-sale loans         $ 2,893,246,000 4,002,509,000
Number of loans transferred | loan         4  
Transfer to REO         $ 12,547,000 5,280,000
Commitment To Fund Residential Bridge Loan            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Commitment to fund loan $ 225,000,000   $ 225,000,000   225,000,000  
Single-Family Rental, Held-for-sale at fair value            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Proceeds from loan originations to third parties     2,000,000      
Loans, at fair value $ 285,549,000 $ 569,185,000 285,549,000   285,549,000  
Number of loans | loan 140 308        
Loan principal $ 272,492,000 $ 552,848,000 $ 272,492,000   $ 272,492,000  
Weighted average coupon rate 5.26% 4.96% 5.26%   5.26%  
Contract maturities 7 years 9 years        
Fair value of loans with 90+ day delinquencies $ 0 $ 130,000 $ 0   $ 0  
Number of loans in foreclosure | loan 0 1 0   0  
Fair value of loans, in foreclosure $ 0 $ 130,000 $ 0   $ 0  
Purchases of held-for-sale loans     196,000,000   632,000,000  
Gain (loss) on investments     43,000,000 $ 1,000,000 34,000,000 3,000,000
Residential Bridge, Held-for-sale at fair value            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Loans, at fair value 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]            
Loans, at fair value $ 700,860,000 $ 745,006,000 700,860,000   700,860,000  
Number of loans | loan 2,262 2,653        
Loan principal $ 708,555,000 $ 742,528,000 $ 708,555,000   $ 708,555,000  
Weighted average coupon rate 8.02% 8.11% 8.02%   8.02%  
Contract maturities 1 year 2 years        
Fair value of loans with 90+ day delinquencies $ 39,755,000 $ 8,987,000 $ 39,755,000   $ 39,755,000  
Number of loans in foreclosure | loan 24 15 24   24  
Fair value of loans, in foreclosure $ 34,489,000 $ 6,917,000 $ 34,489,000   $ 34,489,000  
Purchases of held-for-sale loans     64,000,000   324,000,000  
Gain (loss) on investments     7,000,000 (1,000,000) (10,000,000) (1,000,000)
Transfer to REO         $ 5,000,000  
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]            
Residential bridge loans held-for-investment, original maturities (in months)         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]            
Residential bridge loans held-for-investment, original maturities (in months)         24 months  
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     2,000,000      
Loans, at fair value 700,860,000 745,006,000 700,860,000   $ 700,860,000  
Held-for-sale at fair value, Total            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Loans, at fair value 285,549,000 331,565,000 285,549,000   285,549,000  
Held-for-investment at fair value, Total            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Loans, at fair value 3,670,552,000 3,175,178,000 3,670,552,000   3,670,552,000  
Business purpose residential loans            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Proceeds from loan originations     261,000,000      
Fee income     3,000,000   13,000,000  
Loans, at fair value $ 3,956,101,000 $ 3,506,743,000 3,956,101,000   3,956,101,000  
Business Purpose Mortgage Banking Activities            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Market valuations gains (losses), net     938,000 $ 1,010,000 (4,256,000) $ 2,108,000
Business Purpose Mortgage Banking Activities | Single-Family Rental, Held-for-sale at fair value            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Gain (loss) on investments         55,000,000  
Business Purpose Mortgage Banking Activities | Business purpose residential loans            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Market valuations gains (losses), net     $ 100,000      
Business Purpose Investment Fair Value Change | Single-Family Rental, Held-for-sale at fair value            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Gain (loss) on investments         $ 21,000,000  
Financing Receivables, Equal to Greater than 90 Days Past Due | Single-Family Rental, Held-for-sale 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 6 2 6   6  
Fair value of loans with 90+ day delinquencies $ 3,018,000 $ 1,688,000 $ 3,018,000   $ 3,018,000  
Balance of loans 90 days or more delinquent $ 2,954,000 $ 1,818,000 $ 2,954,000   $ 2,954,000  
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 24 31 24   24  
Fair value of loans with 90+ day delinquencies $ 38,437,000 $ 14,186,000 $ 38,437,000   $ 38,437,000  
Balance of loans 90 days or more delinquent 33,464,000 12,111,000 33,464,000   33,464,000  
Redwood | Single-Family Rental, Held-for-sale at fair value            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Loans, at fair value 285,549,000 331,565,000 285,549,000   285,549,000  
Redwood | Single-family rental loans held-for-investment            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Loans, at fair value 0 237,620,000 0   0  
Redwood | Single family rental loans            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Loans, at fair value 285,549,000 569,185,000 285,549,000   285,549,000  
CoreVest | Single-Family Rental, Held-for-sale at fair value            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Loans, at fair value 0 0 0   0  
CoreVest | Single-family rental loans held-for-investment            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Loans, at fair value 2,969,692,000 2,192,552,000 2,969,692,000   2,969,692,000  
CoreVest | Single family rental loans            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Loans, at fair value $ 2,969,692,000 2,192,552,000 $ 2,969,692,000   2,969,692,000  
CAFL | Single-Family Rental, Held-for-sale at fair value            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Proceeds from sales of held-for-sale loans         34,000,000  
Purchases of held-for-sale loans         $ 925,000,000  
Number of securitization entities to which asset transferred (in entities) | loan 3   3   3  
CAFL | Single-family rental loans held-for-investment            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Loans, at fair value $ 2,969,692,000 $ 2,192,552,000 $ 2,969,692,000   $ 2,969,692,000  
Number of loans | loan 1,027 783        
Loan principal $ 2,815,045,000 $ 2,078,214,000 $ 2,815,045,000   $ 2,815,045,000  
Weighted average coupon rate 5.50% 5.70% 5.50%   5.50%  
Contract maturities 6 years 7 years        
Fair value of loans with 90+ day delinquencies $ 14,032,000 $ 9,169,000 $ 14,032,000   $ 14,032,000  
Number of loans in foreclosure | loan 9 5 9   9  
Gain (loss) on investments     $ 88,000,000   $ (14,000,000)  
Loans maturity one         5 years  
Loans maturity two         7 years  
Loans maturity three         10 years  
CAFL | Financing Receivables, Equal to Greater than 90 Days Past Due | Single-family rental loans held-for-investment            
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]            
Number of loans past due | loan 26 18 26   26  
Fair value of loans with 90+ day delinquencies $ 70,949,000 $ 29,039,000 $ 70,949,000   $ 70,949,000