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v3.20.2

Principles of Consolidation - Income (Loss) from Consolidated VIEs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019
Variable Interest Entity [Line Items] |  |  |  |
Interest income | $ 129,946 | $ 148,542 | $ 328,027 | $ 279,583
Interest expense | (102,666) | (116,220) | (249,337) | (215,496)
Net Interest Income | 27,280 | 32,322 | 78,690 | 64,087
Investment fair value changes, net | 152,228 | 3,138 | (718,604) | 23,297
Total non-interest income (loss), net | 173,376 | 29,984 | (719,578) | 77,763
General and administrative expenses | (30,092) | (26,255) | (62,760) | (49,414)
Net Income (Loss) | 165,444 | 31,266 | (777,954) | 85,730
Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 88,826 | 82,697 | 213,353 | 149,741
Interest expense | (67,101) | (73,514) | (170,892) | (132,421)
Net Interest Income | 21,725 | 9,183 | 42,461 | 17,320
Investment fair value changes, net | 87,594 | 15,108 | (290,868) | 28,913
Total non-interest income (loss), net | 87,594 | 15,108 | (290,868) | 28,913
General and administrative expenses | (712) | (41) | (743) | (70)
Other expenses | (1,065) | (242) | 817 | (468)
Net Income (Loss) | 107,542 | 24,008 | (248,333) | 45,695
Legacy Sequoia | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 2,686 | 4,776 | 5,880 | 9,629
Interest expense | (1,518) | (3,981) | (4,040) | (8,096)
Net Interest Income | 1,168 | 795 | 1,840 | 1,533
Investment fair value changes, net | (230) | (123) | (621) | (497)
Total non-interest income (loss), net | (230) | (123) | (621) | (497)
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 938 | 672 | 1,219 | 1,036
Sequoia Choice | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 22,565 | 26,828 | 47,647 | 52,490
Interest expense | (19,117) | (23,134) | (40,627) | (45,247)
Net Interest Income | 3,448 | 3,694 | 7,020 | 7,243
Investment fair value changes, net | 39,753 | 2,879 | (29,916) | 6,144
Total non-interest income (loss), net | 39,753 | 2,879 | (29,916) | 6,144
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 43,201 | 6,573 | (22,896) | 13,387
Freddie Mac SLST | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 21,187 | 11,597 | 43,173 | 23,391
Interest expense | (15,845) | (8,557) | (32,022) | (17,304)
Net Interest Income | 5,342 | 3,040 | 11,151 | 6,087
Investment fair value changes, net | 26,867 | 8,037 | (115,295) | 14,402
Total non-interest income (loss), net | 26,867 | 8,037 | (115,295) | 14,402
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 32,209 | 11,077 | (104,144) | 20,489
Freddie Mac K-Series | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 4,870 | 35,917 | 45,042 | 57,305
Interest expense | (4,378) | (34,441) | (42,728) | (54,760)
Net Interest Income | 492 | 1,476 | 2,314 | 2,545
Investment fair value changes, net | 1,599 | 3,246 | (84,910) | 6,365
Total non-interest income (loss), net | 1,599 | 3,246 | (84,910) | 6,365
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 2,091 | 4,722 | (82,596) | 8,910
CAFL | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 32,978 | 0 | 62,988 | 0
Interest expense | (24,446) | 0 | (48,101) | 0
Net Interest Income | 8,532 | 0 | 14,887 | 0
Investment fair value changes, net | 16,313 | 0 | (51,533) | 0
Total non-interest income (loss), net | 16,313 | 0 | (51,533) | 0
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 24,845 | 0 | (36,646) | 0
Servicing Investment | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 4,540 | 3,579 | 8,623 | 6,926
Interest expense | (1,797) | (3,401) | (3,374) | (7,014)
Net Interest Income | 2,743 | 178 | 5,249 | (88)
Investment fair value changes, net | 3,292 | 1,069 | (8,593) | 2,499
Total non-interest income (loss), net | 3,292 | 1,069 | (8,593) | 2,499
General and administrative expenses | (712) | (41) | (743) | (70)
Other expenses | (1,065) | (242) | 817 | (468)
Net Income (Loss) | $ 4,258 | $ 964 | $ (3,270) | $ 1,873

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