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Residential Loans - Additional Information (Details)
3 Months Ended 12 Months Ended
Mar. 31, 2018
USD ($)
loan
Mar. 31, 2017
USD ($)
Dec. 31, 2017
USD ($)
loan
Mortgage Loans on Real Estate [Line Items]      
Transfers from loans held-for-sale to loans held-for-investment $ 507,616,000 $ 184,996,000  
Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment 5,145,740,000   $ 5,115,210,000
Legacy Sequoia | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment 626,151,000   632,817,000
Sequoia Choice | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment 1,013,619,000   620,062,000
Redwood | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment $ 3,505,970,000   $ 3,862,331,000
Redwood | Fixed-rate loans      
Mortgage Loans on Real Estate [Line Items]      
Weighted average coupon rate 4.08%    
Redwood | Held-for-sale residential loans | FHLB Chicago      
Mortgage Loans on Real Estate [Line Items]      
Loans pledged as collateral under borrowing agreement with FHLBC $ 2,370,000,000    
Residential Loans      
Mortgage Loans on Real Estate [Line Items]      
Number of loans (in loans) | loan 1,598   2,009
Loan Principal $ 1,120,000,000   $ 1,410,000,000
Loan market valuation adjustment 1,130,000,000   1,430,000,000
Loans held-for-investment, delinquent greater than 90 days     $ 500,000
Principal value of loans purchased 1,800,000,000 1,090,000,000  
Principal balance of loans sold during period 2,010,000,000 1,360,000,000  
Gain (loss) on assets measured at fair value on a non-recurring basis 5,000,000 (9,000,000)  
Loan pledged as collateral 718,000,000    
Number of loans in foreclosure (in loans) | loan     0
Loans held-for-investment, in foreclosure 1,000,000    
Residential Loans | Jumbo Loans | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment 1,129,890,000   $ 1,427,052,000
Residential Loans | Jumbo Loans | Legacy Sequoia | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment 0   0
Residential Loans | Jumbo Loans | Sequoia Choice | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment 0   0
Residential Loans | Jumbo Loans | Redwood | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment $ 1,129,890,000   $ 1,427,052,000
Residential Loans | Financing Receivables, Equal to Greater than 90 Days Past Due      
Mortgage Loans on Real Estate [Line Items]      
Number of loans past due (in loans) | loan 0   1
Residential loans, at lower of cost or fair value      
Mortgage Loans on Real Estate [Line Items]      
Number of loans (in loans) | loan 3   4
Loan Principal $ 400,000   $ 1,000,000
Loan market valuation adjustment $ 300,000   $ 1,000,000
Number of loans in foreclosure (in loans) | loan 0   0
Residential loans, at lower of cost or fair value | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment $ 295,000   $ 893,000
Residential loans, at lower of cost or fair value | Legacy Sequoia | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment 0   0
Residential loans, at lower of cost or fair value | Sequoia Choice | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment 0   0
Residential loans, at lower of cost or fair value | Redwood | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment $ 295,000   $ 893,000
Residential loans, at lower of cost or fair value | Financing Receivables, Equal to Greater than 90 Days Past Due      
Mortgage Loans on Real Estate [Line Items]      
Number of loans past due (in loans) | loan 1   1
Loans held-for-investment, delinquent greater than 90 days $ 300,000   $ 300,000
Residential Loans Held For Investment at Fair Value      
Mortgage Loans on Real Estate [Line Items]      
Number of loans in foreclosure (in loans) | loan 0    
Residential Loans Held For Investment at Fair Value | Legacy Sequoia      
Mortgage Loans on Real Estate [Line Items]      
Valuation adjustment gain (loss) $ 29,000,000 8,000,000  
Residential Loans Held For Investment at Fair Value | Sequoia Choice      
Mortgage Loans on Real Estate [Line Items]      
Transfers from loans held-for-sale to loans held-for-investment $ 452,000,000    
Residential Loans Held For Investment at Fair Value | Legacy Sequoia      
Mortgage Loans on Real Estate [Line Items]      
Number of loans (in loans) | loan 3,059   3,178
Loan Principal $ 662,000,000   $ 698,000,000
Loan market valuation adjustment 626,000,000   633,000,000
Loans held-for-investment, delinquent greater than 90 days 23,000,000   $ 25,000,000
Weighted average original Fair Isaac Corporation (FICO) score     728
Weighted average original loan-to-value (LTV)     66.00%
Loans held-for-investment, in foreclosure $ 9,000,000   $ 10,000,000
Residential Loans Held For Investment at Fair Value | Sequoia Choice      
Mortgage Loans on Real Estate [Line Items]      
Number of loans (in loans) | loan 1,335   806
Loan Principal $ 996,000,000   $ 605,000,000
Loan market valuation adjustment 1,010,000,000   620,000,000
Loans held-for-investment, delinquent greater than 90 days $ 0   $ 0
Weighted average original Fair Isaac Corporation (FICO) score     742
Weighted average original loan-to-value (LTV)     74.00%
Residential Loans Held For Investment at Fair Value | Redwood      
Mortgage Loans on Real Estate [Line Items]      
Number of loans (in loans) | loan 3,279   3,292
Loan Principal $ 2,390,000,000   $ 2,410,000,000
Loan market valuation adjustment     2,430,000,000
Gain (loss) on assets measured at fair value on a non-recurring basis (39,000,000) (2,000,000)  
Transfers from loans held-for-sale to loans held-for-investment 56,000,000 185,000,000  
Transfers from loans held-for-investment to loans held-for-sale $ 0 $ 0  
Weighted average original Fair Isaac Corporation (FICO) score 771    
Weighted average original loan-to-value (LTV) 66.00%    
Percentage of fixed-rate loans 90.00%    
Residential Loans Held For Investment at Fair Value | Redwood | Originated Between 2013 and 2017      
Mortgage Loans on Real Estate [Line Items]      
Percentage of loan portfolio originated in year 96.00%    
Residential Loans Held For Investment at Fair Value | Redwood | Originated 2012 and prior years      
Mortgage Loans on Real Estate [Line Items]      
Percentage of loan portfolio originated in year 4.00%    
Residential Loans Held For Investment at Fair Value | Redwood | Hybrid loans      
Mortgage Loans on Real Estate [Line Items]      
Weighted average coupon rate 4.10%    
Residential Loans Held For Investment at Fair Value | Jumbo Loans | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment $ 4,015,555,000   3,687,265,000
Residential Loans Held For Investment at Fair Value | Jumbo Loans | Legacy Sequoia | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment 626,151,000   632,817,000
Residential Loans Held For Investment at Fair Value | Jumbo Loans | Sequoia Choice | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment 1,013,619,000   620,062,000
Residential Loans Held For Investment at Fair Value | Jumbo Loans | Redwood | Held-for-sale residential loans      
Mortgage Loans on Real Estate [Line Items]      
Loan market valuation adjustment 2,375,785,000   $ 2,434,386,000
Residential Loans Held For Investment at Fair Value | Financing Receivables, Equal to Greater than 90 Days Past Due | Redwood      
Mortgage Loans on Real Estate [Line Items]      
Loan Principal $ 2,000,000    
Number of loans past due (in loans) | loan 3   0
MSRs      
Mortgage Loans on Real Estate [Line Items]      
Mortgage servicing rights, at amortized cost $ 2,810,000,000