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v3.20.4

Principles of Consolidation - Income (Loss) from Consolidated VIEs Accounted for as Collateralized Financing Entities (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018
Variable Interest Entity [Line Items] |  |  |
Interest income | $ 571,916 | $ 622,281 | $ 378,717
Interest expense | (448,005) | (479,808) | (239,039)
Net Interest Income | 123,911 | 142,473 | 139,678
Investment fair value changes, net | (588,438) | 35,500 | (25,689)
Total non-interest income, net | (475,354) | 165,844 | 73,988
General and administrative expenses | (115,204) | (108,737) | (75,298)
Net (Loss) Income | (581,847) | 169,183 | $ 119,600
Variable Interest Entity, Primary Beneficiary |  |  |
Variable Interest Entity [Line Items] |  |  |
Interest income | 391,191 | 354,470 |
Interest expense | (305,765) | (306,419) |
Net Interest Income | 85,426 | 48,051 |
Investment fair value changes, net | (167,856) | 53,713 |
Total non-interest income, net | (167,856) | 53,713 |
General and administrative expenses | (867) | (343) |
Other expenses | 193 | (1,106) |
Net (Loss) Income | (83,104) | 100,315 |
Legacy Sequoia | Variable Interest Entity, Primary Beneficiary |  |  |
Variable Interest Entity [Line Items] |  |  |
Interest income | 9,061 | 17,649 |
Interest expense | (5,945) | (14,418) |
Net Interest Income | 3,116 | 3,231 |
Investment fair value changes, net | (1,512) | (1,545) |
Total non-interest income, net | (1,512) | (1,545) |
General and administrative expenses | 0 | 0 |
Other expenses | 0 | 0 |
Net (Loss) Income | 1,604 | 1,686 |
Sequoia Choice | Variable Interest Entity, Primary Beneficiary |  |  |
Variable Interest Entity [Line Items] |  |  |
Interest income | 87,093 | 108,798 |
Interest expense | (73,643) | (93,354) |
Net Interest Income | 13,450 | 15,444 |
Investment fair value changes, net | (13,244) | 6,947 |
Total non-interest income, net | (13,244) | 6,947 |
General and administrative expenses | 0 | 0 |
Other expenses | 0 | 0 |
Net (Loss) Income | 206 | 22,391 |
Freddie Mac SLST | Variable Interest Entity, Primary Beneficiary |  |  |
Variable Interest Entity [Line Items] |  |  |
Interest income | 85,609 | 57,840 |
Interest expense | (62,483) | (42,574) |
Net Interest Income | 23,126 | 15,266 |
Investment fair value changes, net | (21,160) | 27,206 |
Total non-interest income, net | (21,160) | 27,206 |
General and administrative expenses | 0 | 0 |
Other expenses | 0 | 0 |
Net (Loss) Income | 1,966 | 42,472 |
Freddie Mac K-Series | Variable Interest Entity, Primary Beneficiary |  |  |
Variable Interest Entity [Line Items] |  |  |
Interest income | 54,813 | 132,600 |
Interest expense | (51,521) | (126,948) |
Net Interest Income | 3,292 | 5,652 |
Investment fair value changes, net | (81,039) | 21,430 |
Total non-interest income, net | (81,039) | 21,430 |
General and administrative expenses | 0 | 0 |
Other expenses | 0 | 0 |
Net (Loss) Income | (77,747) | 27,082 |
CAFL | Variable Interest Entity, Primary Beneficiary |  |  |
Variable Interest Entity [Line Items] |  |  |
Interest income | 136,950 | 23,072 |
Interest expense | (105,732) | (17,173) |
Net Interest Income | 31,218 | 5,899 |
Investment fair value changes, net | (39,574) | (3,636) |
Total non-interest income, net | (39,574) | (3,636) |
General and administrative expenses | 0 | 0 |
Other expenses | 0 | 0 |
Net (Loss) Income | (8,356) | 2,263 |
Servicing Investment | Variable Interest Entity, Primary Beneficiary |  |  |
Variable Interest Entity [Line Items] |  |  |
Interest income | 17,665 | 14,511 |
Interest expense | (6,441) | (11,952) |
Net Interest Income | 11,224 | 2,559 |
Investment fair value changes, net | (11,327) | 3,311 |
Total non-interest income, net | (11,327) | 3,311 |
General and administrative expenses | (867) | (343) |
Other expenses | 193 | (1,106) |
Net (Loss) Income | $ (777) | $ 4,421 |

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