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v3.23.2

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, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022
Variable Interest Entity [Line Items] |  |  |  |
Interest income | $ 178,981 | $ 167,455 | $ 357,497 | $ 356,855
Interest expense | (152,885) | (126,967) | (304,964) | (263,265)
Net Interest Income | 26,096 | 40,488 | 52,533 | 93,590
Investment fair value changes, net | (4,596) | (87,972) | (4,723) | (94,092)
Total non-interest income (loss), net | 17,170 | (110,983) | 38,268 | (92,224)
Net Income (Loss) | 2,873 | (99,966) | 7,493 | (69,051)
Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 122,683 | 118,492 | 242,232 | 258,808
Interest expense | (93,955) | (90,784) | (185,363) | (198,254)
Net Interest Income | 28,728 | 27,708 | 56,869 | 60,554
Investment fair value changes, net | 2,047 | (67,765) | 3,388 | (66,394)
Other income | 212 | 255 | 384 | 345
Total non-interest income (loss), net | 2,259 | (67,510) | 3,772 | (66,049)
General and administrative expenses | 3 | 44 | (7) | 75
Other expenses | (1,904) | (235) | (2,481) | (786)
Net Income (Loss) | 29,080 | (40,081) | 58,167 | (6,356)
Legacy Sequoia | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 2,740 | 1,108 | 5,283 | 2,120
Interest expense | (2,659) | (967) | (5,163) | (1,668)
Net Interest Income | 81 | 141 | 120 | 452
Investment fair value changes, net | (10) | (336) | (104) | (1,050)
Other income | 0 | 0 | 0 | 0
Total non-interest income (loss), net | (10) | (336) | (104) | (1,050)
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 71 | (195) | 16 | (598)
Sequoia | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 37,478 | 31,923 | 72,122 | 64,021
Interest expense | (33,994) | (28,329) | (64,049) | (56,500)
Net Interest Income | 3,484 | 3,594 | 8,073 | 7,521
Investment fair value changes, net | 928 | (5,886) | 3,370 | (9,708)
Other income | 0 | 0 | 0 | 0
Total non-interest income (loss), net | 928 | (5,886) | 3,370 | (9,708)
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 4,412 | (2,292) | 11,443 | (2,187)
CAFL | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 54,583 | 56,608 | 109,020 | 133,942
Interest expense | (38,545) | (41,923) | (78,087) | (100,403)
Net Interest Income | 16,038 | 14,685 | 30,933 | 33,539
Investment fair value changes, net | 11,601 | (22,109) | 1,919 | (19,445)
Other income | 212 | 255 | 384 | 345
Total non-interest income (loss), net | 11,813 | (21,854) | 2,303 | (19,100)
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 27,851 | (7,169) | 33,236 | 14,439
Freddie Mac SLST | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 15,273 | 16,553 | 30,766 | 33,753
Interest expense | (10,650) | (13,372) | (21,868) | (27,457)
Net Interest Income | 4,623 | 3,181 | 8,898 | 6,296
Investment fair value changes, net | (16,563) | (35,940) | (7,629) | (32,904)
Other income | 0 | 0 | 0 | 0
Total non-interest income (loss), net | (16,563) | (35,940) | (7,629) | (32,904)
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | (11,940) | (32,759) | 1,269 | (26,608)
Freddie Mac K-Series | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 4,698 | 4,732 | 9,316 | 9,485
Interest expense | (4,311) | (4,351) | (8,552) | (8,722)
Net Interest Income | 387 | 381 | 764 | 763
Investment fair value changes, net | 385 | (190) | 748 | 74
Other income | 0 | 0 | 0 | 0
Total non-interest income (loss), net | 385 | (190) | 748 | 74
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | 772 | 191 | 1,512 | 837
Servicing Investment | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 7,911 | 7,568 | 15,725 | 15,487
Interest expense | (3,796) | (1,842) | (7,644) | (3,504)
Net Interest Income | 4,115 | 5,726 | 8,081 | 11,983
Investment fair value changes, net | 5,253 | (4,505) | 4,206 | (7,973)
Other income | 0 | 0 | 0 | 0
Total non-interest income (loss), net | 5,253 | (4,505) | 4,206 | (7,973)
General and administrative expenses | 3 | 44 | (7) | 75
Other expenses | (1,904) | (235) | (2,481) | (786)
Net Income (Loss) | 7,461 | 942 | 9,813 | 3,149
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 | 453 | 1,201 | 878 | 4,612
Other income | 0 | 0 | 0 | 0
Total non-interest income (loss), net | 453 | 1,201 | 878 | 4,612
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income (Loss) | $ 453 | $ 1,201 | $ 878 | $ 4,612

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