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v3.23.3

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, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022
Variable Interest Entity [Line Items] |  |  |  |
Interest income | $ 177,074 | $ 177,662 | $ 534,571 | $ 534,517
Interest expense | (156,723) | (142,727) | (461,687) | (405,992)
Net Interest Income | 20,351 | 34,935 | 72,884 | 128,525
Investment fair value changes, net | (31,430) | (57,697) | (36,153) | (151,789)
Total non-interest (loss) income, net | (9,594) | (37,135) | 28,674 | (129,359)
Net Loss | (30,810) | (50,411) | (23,317) | (119,462)
Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 123,527 | 123,161 | 365,759 | 381,969
Interest expense | (94,793) | (93,643) | (280,157) | (291,897)
Net Interest Income | 28,734 | 29,518 | 85,602 | 90,072
Investment fair value changes, net | (39,714) | (61,237) | (36,326) | (127,631)
Other income | 377 | 286 | 761 | 631
Total non-interest (loss) income, net | (39,337) | (60,951) | (35,565) | (127,000)
General and administrative expenses | (89) | (55) | (82) | (130)
Other expenses | (1,526) | (372) | (4,007) | (1,158)
Net Loss | (12,218) | (31,860) | 45,948 | (38,216)
Legacy Sequoia | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 2,596 | 1,475 | 7,879 | 3,595
Interest expense | (2,487) | (1,486) | (7,650) | (3,154)
Net Interest Income | 109 | (11) | 229 | 441
Investment fair value changes, net | (215) | (328) | (319) | (1,378)
Other income | 0 | 0 | 0 | 0
Total non-interest (loss) income, net | (215) | (328) | (319) | (1,378)
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Loss | (106) | (339) | (90) | (937)
Sequoia | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 40,180 | 31,587 | 112,302 | 95,608
Interest expense | (35,810) | (27,541) | (99,859) | (84,041)
Net Interest Income | 4,370 | 4,046 | 12,443 | 11,567
Investment fair value changes, net | (4,966) | (10,936) | (1,596) | (20,644)
Other income | 0 | 0 | 0 | 0
Total non-interest (loss) income, net | (4,966) | (10,936) | (1,596) | (20,644)
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Loss | (596) | (6,890) | 10,847 | (9,077)
CAFL | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 52,940 | 61,439 | 161,960 | 195,381
Interest expense | (38,273) | (44,804) | (116,360) | (145,207)
Net Interest Income | 14,667 | 16,635 | 45,600 | 50,174
Investment fair value changes, net | (6,562) | (4,527) | (4,643) | (23,972)
Other income | 377 | 286 | 761 | 631
Total non-interest (loss) income, net | (6,185) | (4,241) | (3,882) | (23,341)
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Loss | 8,482 | 12,394 | 41,718 | 26,833
Freddie Mac SLST | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 15,065 | 16,098 | 45,831 | 49,851
Interest expense | (10,523) | (12,829) | (32,392) | (40,286)
Net Interest Income | 4,542 | 3,269 | 13,439 | 9,565
Investment fair value changes, net | (32,388) | (41,892) | (40,017) | (74,796)
Other income | 0 | 0 | 0 | 0
Total non-interest (loss) income, net | (32,388) | (41,892) | (40,017) | (74,796)
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Loss | (27,846) | (38,623) | (26,578) | (65,231)
Freddie Mac K-Series | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 4,677 | 4,762 | 13,993 | 14,247
Interest expense | (4,290) | (4,377) | (12,842) | (13,099)
Net Interest Income | 387 | 385 | 1,151 | 1,148
Investment fair value changes, net | 390 | 316 | 1,138 | 390
Other income | 0 | 0 | 0 | 0
Total non-interest (loss) income, net | 390 | 316 | 1,138 | 390
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Loss | 777 | 701 | 2,289 | 1,538
Servicing Investment | Variable Interest Entity, Primary Beneficiary |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 8,069 | 7,800 | 23,794 | 23,287
Interest expense | (3,410) | (2,606) | (11,054) | (6,110)
Net Interest Income | 4,659 | 5,194 | 12,740 | 17,177
Investment fair value changes, net | 3,059 | (3,286) | 7,265 | (11,259)
Other income | 0 | 0 | 0 | 0
Total non-interest (loss) income, net | 3,059 | (3,286) | 7,265 | (11,259)
General and administrative expenses | (89) | (55) | (82) | (130)
Other expenses | (1,526) | (372) | (4,007) | (1,158)
Net Loss | 6,103 | 1,481 | 15,916 | 4,630
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 | 968 | (584) | 1,846 | 4,028
Other income | 0 | 0 | 0 | 0
Total non-interest (loss) income, net | 968 | (584) | 1,846 | 4,028
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Loss | $ 968 | $ (584) | $ 1,846 | $ 4,028

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