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v3.20.2

Principles of Consolidation - Income (Loss) from Consolidated VIEs Accounted for as Collateralized Financing Entities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019
Variable Interest Entity [Line Items] |  |  |  |
Interest income | $ 121,982 | $ 150,117 | $ 450,009 | $ 429,700
Interest expense | (100,411) | (116,604) | (349,748) | (332,100)
Net Interest Income | 21,571 | 33,513 | 100,261 | 97,600
Investment fair value changes, net | 107,047 | 11,444 | (611,557) | 34,741
Total non-interest income (loss), net | 166,930 | 30,029 | (552,648) | 107,792
General and administrative expenses | (27,630) | (24,899) | (84,832) | (70,722)
Net Income (Loss) | 141,812 | 34,310 | (636,142) | 120,040
Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 89,912 | 84,431 | 303,265 | 234,171
Interest expense | (67,871) | (73,956) | (238,763) | (206,378)
Net Interest Income | 22,041 | 10,475 | 64,502 | 27,793
Investment fair value changes, net | 101,420 | 28,023 | (189,448) | 56,936
Total non-interest income (loss), net | 101,420 | 28,023 | (189,448) | 56,936
General and administrative expenses | (41) | (16) | (784) | (87)
Other expenses | (471) | (395) | 346 | (864)
Net Income (Loss) | 122,949 | 38,087 | (125,384) | 83,778
Legacy Sequoia | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 1,795 | 4,295 | 7,675 | 13,924
Interest expense | (1,058) | (3,452) | (5,098) | (11,548)
Net Interest Income | 737 | 843 | 2,577 | 2,376
Investment fair value changes, net | (81) | (407) | (702) | (904)
Total non-interest income (loss), net | (81) | (407) | (702) | (904)
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 656 | 436 | 1,875 | 1,472
Sequoia Choice | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 20,919 | 27,555 | 68,566 | 80,045
Interest expense | (17,828) | (23,576) | (58,455) | (68,823)
Net Interest Income | 3,091 | 3,979 | 10,111 | 11,222
Investment fair value changes, net | 7,851 | 2,722 | (22,065) | 8,866
Total non-interest income (loss), net | 7,851 | 2,722 | (22,065) | 8,866
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 10,942 | 6,701 | (11,954) | 20,088
Freddie Mac SLST | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 21,696 | 11,830 | 64,869 | 35,221
Interest expense | (15,473) | (8,709) | (47,495) | (26,013)
Net Interest Income | 6,223 | 3,121 | 17,374 | 9,208
Investment fair value changes, net | 82,214 | 17,300 | (33,081) | 31,702
Total non-interest income (loss), net | 82,214 | 17,300 | (33,081) | 31,702
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 88,437 | 20,421 | (15,707) | 40,910
Freddie Mac K-Series | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 4,918 | 36,829 | 49,960 | 94,134
Interest expense | (4,426) | (35,328) | (47,154) | (90,089)
Net Interest Income | 492 | 1,501 | 2,806 | 4,045
Investment fair value changes, net | 2,166 | 7,445 | (82,744) | 13,810
Total non-interest income (loss), net | 2,166 | 7,445 | (82,744) | 13,810
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 2,658 | 8,946 | (79,938) | 17,855
CAFL | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 36,181 | 0 | 99,169 | 0
Interest expense | (27,499) | 0 | (75,600) | 0
Net Interest Income | 8,682 | 0 | 23,569 | 0
Investment fair value changes, net | 9,692 | 0 | (41,841) | 0
Total non-interest income (loss), net | 9,692 | 0 | (41,841) | 0
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 18,374 | 0 | (18,272) | 0
Servicing Investment | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 4,403 | 3,922 | 13,026 | 10,847
Interest expense | (1,587) | (2,891) | (4,961) | (9,905)
Net Interest Income | 2,816 | 1,031 | 8,065 | 942
Investment fair value changes, net | (422) | 963 | (9,015) | 3,462
Total non-interest income (loss), net | (422) | 963 | (9,015) | 3,462
General and administrative expenses | (41) | (16) | (784) | (87)
Other expenses | (471) | (395) | 346 | (864)
Net Income (Loss) | $ 1,882 | $ 1,583 | $ (1,388) | $ 3,453

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