Fair Value of Financial Instruments - Market Valuation Adjustments, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights income (loss), net	$ 14,879	$ 2,380	$ (9,694)
Total Market Valuation Gains (Losses), Net	(227,186)	321,433	(541,399)
Mortgage Banking Activities, Net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(58,648)	196,566	66,482
Mortgage Banking Activities, Net | Residential loans, held-for-sale at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(77,192)	73,332	(15,477)
Mortgage Banking Activities, Net | Residential loan purchase and commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(54,484)	10,401	56,761
Mortgage Banking Activities, Net | BPL term loans held-for-sale, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(91,025)	63,206	82,169
Mortgage Banking Activities, Net | BPL term loan interest rate lock commitments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(666)	666	341
Mortgage Banking Activities, Net | BPL bridge loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	3,026	8,253	(4,998)
Mortgage Banking Activities, Net | Trading securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	4,249	(352)	(4,535)
Mortgage Banking Activities, Net | Risk management derivatives, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	157,444	41,060	(47,779)
Investment Fair Value Changes, Net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(175,557)	128,049	(588,438)
Investment Fair Value Changes, Net | Trading securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(38,471)	23,935	(226,196)
Investment Fair Value Changes, Net | Risk management derivatives, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	26,152	0	(59,142)
Investment Fair Value Changes, Net | Residential loans held-for-investment at Redwood (called Sequoia loans)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(16,651)	2,812	(93,314)
Investment Fair Value Changes, Net | Business purpose loans held-for-investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(7,271)	(65)	(31,435)
Investment Fair Value Changes, Net | Servicer advance investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(11,075)	(925)	(8,901)
Investment Fair Value Changes, Net | Excess MSRs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(5,196)	(8,017)	(8,302)
Investment Fair Value Changes, Net | Net investments in Legacy Sequoia entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(1,302)	(1,558)	(1,513)
Investment Fair Value Changes, Net | Net investments in Sequoia Choice entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(23,818)	14,176	(13,244)
Investment Fair Value Changes, Net | Net investments in Freddie Mac SLST entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(76,777)	62,374	(21,160)
Investment Fair Value Changes, Net | Net investments in Freddie Mac K-Series entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	110	11,599	(81,039)
Investment Fair Value Changes, Net | Net investments in CAFL entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(34,899)	10,271	(36,754)
Investment Fair Value Changes, Net | Net investments in HEI securitization entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	2,915	218	0
Investment Fair Value Changes, Net | HEIs at Redwood
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(202)	13,207	(1,883)
Investment Fair Value Changes, Net | Other investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	13,468	(366)	(5,167)
Investment Fair Value Changes, Net | Credit losses on AFS securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value of assets	(2,540)	388	(388)
Other Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights income (loss), net	7,019	(3,182)	(19,443)
Other Income | Risk management derivatives, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights income (loss), net	0	0	13,966
Other Income | MSRs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights income (loss), net	8,560	(3,182)	(33,409)
Other Income | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage servicing rights income (loss), net	$ (1,541)	$ 0	$ 0