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Fair Value of Financial Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Summary of fair value hierarchy of financial assets and liabilities under U.S. GAAP guidance The following table sets forth by level within the fair value hierarchy financial assets and liabilities accounted for at fair value under U.S. GAAP guidance (in thousands):
 As of March 31, 2021
 Level 1Level 2Level 3Total
Assets:    
Marketable securities$4,001 $— $— $4,001 
Loans held for sale, at fair value— 821,194 — 821,194 
Rate lock commitments— — 9,048 9,048 
Nasdaq Forwards— — 7,220 7,220 
Forward sale contracts— — 9,239 9,239 
Total $4,001 $821,194 $25,507 $850,702 
Liabilities:
Contingent consideration$— $— $19,527 $19,527 
Rate lock commitments— — 5,471 5,471 
Forward sale contracts— — 6,482 6,482 
Total $— $— $31,480 $31,480 
 As of December 31, 2020
 Level 1Level 2Level 3Total
Assets:    
Marketable securities$33,283 $— $— $33,283 
Loans held for sale, at fair value— 1,086,805 — 1,086,805 
Debt securities— 12,754 — 12,754 
Rate lock commitments— — 21,034 21,034 
Nasdaq Forwards— — 12,822 12,822 
Forward sale contracts— — 7,632 7,632 
Total $33,283 $1,099,559 $41,488 $1,174,330 
Liabilities:
Contingent consideration$— $— $31,481 $31,481 
Rate lock commitments— — 2,977 2,977 
Forwards sale contracts— — 14,971 14,971 
Total $— $— $49,429 $49,429 
Schedule of changes in Level 3 RBC forwards, rate lock commitments, forwards and contingent consideration measured at fair value on recurring basis Changes in Level 3 Nasdaq Forwards, rate lock commitments, forward sale contracts and contingent consideration measured at fair value on recurring basis were as follows (in thousands):
 As of March 31, 2021
 Opening
Balance		Total realized
and unrealized
gains (losses)
included in
Net income		IssuancesSettlementsClosing
Balance		Unrealized
gains (losses)
outstanding
Assets:      
Rate lock commitments$21,034 $9,048 $— $(21,034)$9,048 $9,048 
Forward sale contracts7,632 9,239 — (7,632)9,239 9,239 
Nasdaq Forwards12,822 (5,602)— — 7,220 7,220 
Total $41,488 $12,685 $— $(28,666)$25,507 $25,507 
 Opening
Balance		Total realized
and unrealized
gains (losses)
included in
Net income		IssuancesSettlementsClosing
Balance		Unrealized
gains (losses)
outstanding
Liabilities:      
Contingent consideration$31,481 $413 $— $(12,367)$19,527 $19,527 
Rate lock commitments2,977 5,471 — (2,977)5,471 5,471 
Forward sale contracts14,971 6,482 — (14,971)6,482 6,482 
Total $49,429 $12,366 $— $(30,315)$31,480 $31,480 
 
 As of December 31, 2020
 Opening
Balance		Total realized
and unrealized
gains (losses)
included in
Net income		IssuancesSettlementsClosing
Balance		Unrealized
gains (losses)
outstanding
Assets:      
Rate lock commitments$32,035 $21,034 $— $(32,035)$21,034 $21,034 
Forward sale contracts14,389 7,632 — (14,389)7,632 7,632 
Nasdaq Forwards26,502 (13,680)— — 12,822 12,822 
Total $72,926 $14,986 $— $(46,424)$41,488 $41,488 
 Opening
Balance		Total realized
and unrealized
gains (losses)
included in
Net income		IssuancesSettlementsClosing
Balance		Unrealized
gains (losses)
outstanding
Liabilities:      
Contingent consideration$45,172 $(11,063)$2,221 $(4,849)$31,481 $(408)
Rate lock commitments12,124 2,977 (12,124)2,977 2,977 
Forward sale contracts13,537 14,971 (13,537)14,971 14,971 
Total $70,833 $6,885 $2,221 $(30,510)$49,429 $17,540 
Summary of quantitative information about Level 3 fair value measurements
The following tables present quantitative information about the significant unobservable inputs utilized by Newmark in the fair value measurement of Level 3 assets and liabilities measured at fair value on a recurring basis:
March 31, 2021
Level 3 assets and liabilitiesAssetsLiabilitiesSignificant Unobservable
Inputs		RangeWeighted
Average
Accounts payable, accrued expenses and other liabilities:
     
Contingent consideration$— $19,527 Discount rate
0.3% - 10.4%
(1)
9.5%
 Probability of meeting earnout and contingencies
0%- 99%
(1)
91.3%
 Financial forecast information
Derivative assets and liabilities:
Nasdaq Forwards$7,220 $— Implied volatility
42.9% - 42.9%
(2)
42.9%
Forward sale contracts$9,239 $6,482 Counterparty credit riskN/AN/A
Rate lock commitments$9,048 $5,471 Counterparty credit riskN/AN/A

December 31, 2020
Level 3 assets and liabilitiesAssetsLiabilitiesSignificant Unobservable
Inputs		RangeWeighted
Average
Accounts payable, accrued expenses and other liabilities:
     
Contingent consideration$— $31,481 Discount rate
0.3% - 10.4%
7.1%
 Probability of meeting earnout and contingencies
0% - 100%
(1)
93.9%
 Financial forecast information
Derivative assets and liabilities:
Nasdaq Forwards$12,822 $— Implied volatility
42.4% - 42.6%
(2)
42.5%
Forward sale contracts$7,632 $14,971 Counterparty credit riskN/AN/A
Rate lock commitments$21,034 $2,977 Counterparty credit riskN/AN/A
(1)Newmark’s estimate of contingent consideration as of March 31, 2021 and December 31, 2020 was based on the acquired business’ projected future financial performance, including revenues.
(2)The volatility of Newmark’s Nasdaq Forwards is primarily based on the volatility of the underlying Nasdaq stock price.