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v3.21.1

Principles of Consolidation - Income (Loss) from Consolidated VIEs Accounted for as Collateralized Financing Entities (Details) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2021 | Mar. 31, 2020
Variable Interest Entity [Line Items] |  |
Interest income | $ 128,305 | $ 198,081
Interest expense | (102,552) | (146,671)
Net Interest Income | 25,753 | 51,410
Investment fair value changes, net | 45,087 | (870,832)
Total non-interest income (loss), net | 134,253 | (892,954)
General and administrative expenses | (43,551) | (28,682)
Net Income (Loss) | 97,257 | (943,398)
Variable Interest Entity, Primary Beneficiary |  |
Variable Interest Entity [Line Items] |  |
Interest income | 94,871 | 124,528
Interest expense | (72,102) | (102,072)
Net Interest Income | 22,769 | 22,456
Investment fair value changes, net | 15,705 | (378,459)
Total non-interest income (loss), net | 15,705 | (378,459)
General and administrative expenses | (38) | (31)
Other expenses | (330) | 1,882
Net Income (Loss) | 38,106 | (354,152)
Legacy Sequoia | Variable Interest Entity, Primary Beneficiary |  |
Variable Interest Entity [Line Items] |  |
Interest income | 1,348 | 3,194
Interest expense | (875) | (2,522)
Net Interest Income | 473 | 672
Investment fair value changes, net | (699) | (391)
Total non-interest income (loss), net | (699) | (391)
General and administrative expenses | 0 | 0
Other expenses | 0 | 0
Net Income (Loss) | (226) | 281
Sequoia Choice | Variable Interest Entity, Primary Beneficiary |  |
Variable Interest Entity [Line Items] |  |
Interest income | 15,483 | 25,083
Interest expense | (12,106) | (21,510)
Net Interest Income | 3,377 | 3,573
Investment fair value changes, net | 4,898 | (69,668)
Total non-interest income (loss), net | 4,898 | (69,668)
General and administrative expenses | 0 | 0
Other expenses | 0 | 0
Net Income (Loss) | 8,275 | (66,095)
Freddie Mac SLST | Variable Interest Entity, Primary Beneficiary |  |
Variable Interest Entity [Line Items] |  |
Interest income | 20,159 | 21,986
Interest expense | (14,468) | (16,176)
Net Interest Income | 5,691 | 5,810
Investment fair value changes, net | 4,117 | (142,161)
Total non-interest income (loss), net | 4,117 | (142,161)
General and administrative expenses | 0 | 0
Other expenses | 0 | 0
Net Income (Loss) | 9,808 | (136,351)
Freddie Mac K-Series | Variable Interest Entity, Primary Beneficiary |  |
Variable Interest Entity [Line Items] |  |
Interest income | 4,786 | 40,172
Interest expense | (4,356) | (38,348)
Net Interest Income | 430 | 1,824
Investment fair value changes, net | 8,921 | (86,509)
Total non-interest income (loss), net | 8,921 | (86,509)
General and administrative expenses | 0 | 0
Other expenses | 0 | 0
Net Income (Loss) | 9,351 | (84,685)
CAFL | Variable Interest Entity, Primary Beneficiary |  |
Variable Interest Entity [Line Items] |  |
Interest income | 48,873 | 30,010
Interest expense | (39,011) | (21,939)
Net Interest Income | 9,862 | 8,071
Investment fair value changes, net | (286) | (67,846)
Total non-interest income (loss), net | (286) | (67,846)
General and administrative expenses | 0 | 0
Other expenses | 0 | 0
Net Income (Loss) | 9,576 | (59,775)
Servicing Investment | Variable Interest Entity, Primary Beneficiary |  |
Variable Interest Entity [Line Items] |  |
Interest income | 4,222 | 4,083
Interest expense | (1,286) | (1,577)
Net Interest Income | 2,936 | 2,506
Investment fair value changes, net | (1,246) | (11,884)
Total non-interest income (loss), net | (1,246) | (11,884)
General and administrative expenses | (38) | (31)
Other expenses | (330) | 1,882
Net Income (Loss) | $ 1,322 | $ (7,527)

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