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Principles of Consolidation - Income (Loss) from Consolidated VIEs Accounted for as Collateralized Financing Entities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021
Variable Interest Entity [Line Items] |  |  |  |
Interest income | $ 167,455 | $ 138,695 | $ 356,855 | $ 267,000
Interest expense | (126,967) | (108,065) | (263,265) | (210,617)
Net Interest Income | 40,488 | 30,630 | 93,590 | 56,383
Investment fair value changes, net | (87,972) | 49,480 | (94,092) | 94,567
Total non-interest (loss) income, net | (110,983) | 114,409 | (92,224) | 248,662
General and administrative expenses | (31,966) | (40,594) | (66,820) | (84,145)
Net (Loss) Income | (99,966) | 90,025 | (69,051) | 187,282
Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 118,492 | 98,917 | 258,808 | 193,788
Interest expense | (90,784) | (77,529) | (198,254) | (151,376)
Net Interest Income | 27,708 | 21,388 | 60,554 | 42,412
Investment fair value changes, net | (67,765) | 44,238 | (66,394) | 59,943
Other income | 255 |  | 345 |
Total non-interest (loss) income, net | (67,510) | 44,238 | (66,049) | 59,943
General and administrative expenses | (44) | (52) | (75) | (90)
Other expenses | (235) | (112) | (786) | (442)
Net (Loss) Income | (40,081) | 65,462 | (6,356) | 101,823
Legacy Sequoia | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 1,108 | 1,169 | 2,120 | 2,517
Interest expense | (967) | (755) | (1,668) | (1,630)
Net Interest Income | 141 | 414 | 452 | 887
Investment fair value changes, net | (336) | (216) | (1,050) | (915)
Other income | 0 |  | 0 |
Total non-interest (loss) income, net | (336) | (216) | (1,050) | (915)
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net (Loss) Income | (195) | 198 | (598) | (28)
Sequoia | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 31,923 | 14,492 | 64,021 | 29,975
Interest expense | (28,329) | (11,374) | (56,500) | (23,480)
Net Interest Income | 3,594 | 3,118 | 7,521 | 6,495
Investment fair value changes, net | (5,886) | 4,906 | (9,708) | 9,804
Other income | 0 |  | 0 |
Total non-interest (loss) income, net | (5,886) | 4,906 | (9,708) | 9,804
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net (Loss) Income | (2,292) | 8,024 | (2,187) | 16,299
CAFL | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 56,608 | 54,849 | 133,942 | 103,722
Interest expense | (41,923) | (43,201) | (100,403) | (81,054)
Net Interest Income | 14,685 | 11,648 | 33,539 | 22,668
Investment fair value changes, net | (22,109) | 3,697 | (19,445) | 3,411
Other income | 255 |  | 345 |
Total non-interest (loss) income, net | (21,854) | 3,697 | (19,100) | 3,411
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net (Loss) Income | (7,169) | 15,345 | 14,439 | 26,079
Freddie Mac SLST | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 16,553 | 19,506 | 33,753 | 39,665
Interest expense | (13,372) | (16,611) | (27,457) | (33,982)
Net Interest Income | 3,181 | 2,895 | 6,296 | 5,683
Investment fair value changes, net | (35,940) | 36,316 | (32,904) | 40,433
Other income | 0 |  | 0 |
Total non-interest (loss) income, net | (35,940) | 36,316 | (32,904) | 40,433
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net (Loss) Income | (32,759) | 39,211 | (26,608) | 46,116
Freddie Mac K-Series | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 4,732 | 4,860 | 9,485 | 9,646
Interest expense | (4,351) | (4,478) | (8,722) | (8,834)
Net Interest Income | 381 | 382 | 763 | 812
Investment fair value changes, net | (190) | 1,855 | 74 | 10,776
Other income | 0 |  | 0 |
Total non-interest (loss) income, net | (190) | 1,855 | 74 | 10,776
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net (Loss) Income | 191 | 2,237 | 837 | 11,588
Servicing Investment | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 7,568 | 4,041 | 15,487 | 8,263
Interest expense | (1,842) | (1,110) | (3,504) | (2,396)
Net Interest Income | 5,726 | 2,931 | 11,983 | 5,867
Investment fair value changes, net | (4,505) | (2,320) | (7,973) | (3,566)
Other income | 0 |  | 0 |
Total non-interest (loss) income, net | (4,505) | (2,320) | (7,973) | (3,566)
General and administrative expenses | (44) | (52) | (75) | (90)
Other expenses | (235) | (112) | (786) | (442)
Net (Loss) Income | 942 | 447 | 3,149 | 1,769
HEI | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 0 | 0 | 0 | 0
Interest expense | 0 | 0 | 0 | 0
Net Interest Income | 0 | 0 | 0 | 0
Investment fair value changes, net | 1,201 | 0 | 4,612 | 0
Other income | 0 |  | 0 |
Total non-interest (loss) income, net | 1,201 | 0 | 4,612 | 0
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net (Loss) Income | $ 1,201 | $ 0 | $ 4,612 | $ 0

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