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Principles of Consolidation - Schedule of Income (Loss) from Consolidated VIEs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023
Variable Interest Entity [Line Items] |  |  |  |
Interest income | $ 225,417 | $ 178,981 | $ 430,157 | $ 357,497
Interest expense | (200,124) | (152,885) | (380,654) | (304,964)
Net Interest Income | 25,293 | 26,096 | 49,503 | 52,533
Investment fair value changes, net | 1,098 | (13,517) | 22,935 | (17,909)
HEI income, net | 15,839 | 8,921 | 24,870 | 13,186
Realized gains, net | 0 | 1,056 | 409 | 1,054
Total non-interest income, net | 42,154 | 17,170 | 92,493 | 38,268
Net Income | 15,534 | 2,873 | 45,796 | 7,493
VIEs |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 166,032 | 122,683 | 316,752 | 242,232
Interest expense | (136,581) | (93,955) | (260,085) | (185,363)
Net Interest Income | 29,451 | 28,728 | 56,667 | 56,869
Investment fair value changes, net | 12,883 | 1,594 | 33,984 | 3,388
HEI income, net | 4,176 | 453 | 7,064 |
Other income | 428 | 212 | 733 | 384
Realized gains, net |  |  | 314 |
Total non-interest income, net | 17,487 | 2,259 | 42,095 | 3,772
General and administrative expenses | (53) | (3) | (118) | 7
Other expenses | (2,974) | (1,904) | (3,530) | (2,481)
Net Income | 43,911 | 29,080 | 95,114 | 58,167
Sequoia | VIEs |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 80,881 | 40,218 | 143,859 | 77,405
Interest expense | (74,373) | (36,653) | (133,195) | (69,212)
Net Interest Income | 6,508 | 3,565 | 10,664 | 8,193
Investment fair value changes, net | 4,322 | 918 | 9,450 | 3,266
HEI income, net | 0 | 0 | 0 |
Other income | 0 | 0 | 0 | 0
Realized gains, net |  |  | 0 |
Total non-interest income, net | 4,322 | 918 | 9,450 | 3,266
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income | 10,830 | 4,483 | 20,114 | 11,459
CAFL | VIEs |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 58,881 | 54,583 | 119,875 | 109,020
Interest expense | (41,279) | (38,545) | (84,562) | (78,087)
Net Interest Income | 17,602 | 16,038 | 35,313 | 30,933
Investment fair value changes, net | 2,597 | 11,601 | 16,100 | 1,919
HEI income, net | 0 | 0 | 0 |
Other income | 428 | 212 | 733 | 384
Realized gains, net |  |  | 314 |
Total non-interest income, net | 3,025 | 11,813 | 17,147 | 2,303
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income | 20,627 | 27,851 | 52,460 | 33,236
Freddie Mac SLST | VIEs |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 14,308 | 15,273 | 28,924 | 30,766
Interest expense | (13,610) | (10,650) | (27,591) | (21,868)
Net Interest Income | 698 | 4,623 | 1,333 | 8,898
Investment fair value changes, net | (5,137) | (16,563) | (1,407) | (7,629)
HEI income, net | 0 | 0 | 0 |
Other income | 0 | 0 | 0 | 0
Realized gains, net |  |  | 0 |
Total non-interest income, net | (5,137) | (16,563) | (1,407) | (7,629)
General and administrative expenses | (14) | 0 | (28) | 0
Other expenses | 0 | 0 | 0 | 0
Net Income | (4,453) | (11,940) | (102) | 1,269
Freddie Mac K-Series | VIEs |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 4,559 | 4,698 | 9,140 | 9,316
Interest expense | (4,177) | (4,311) | (8,376) | (8,552)
Net Interest Income | 382 | 387 | 764 | 764
Investment fair value changes, net | 452 | 385 | 695 | 748
HEI income, net | 0 | 0 | 0 |
Other income | 0 | 0 | 0 | 0
Realized gains, net |  |  | 0 |
Total non-interest income, net | 452 | 385 | 695 | 748
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income | 834 | 772 | 1,459 | 1,512
Servicing Investment | VIEs |  |  |  |
Variable Interest Entity [Line Items] |  |  |  |
Interest income | 7,403 | 7,911 | 14,954 | 15,725
Interest expense | (3,142) | (3,796) | (6,361) | (7,644)
Net Interest Income | 4,261 | 4,115 | 8,593 | 8,081
Investment fair value changes, net | 10,649 | 5,253 | 9,146 | 4,206
HEI income, net | 0 | 0 | 0 |
Other income | 0 | 0 | 0 | 0
Realized gains, net |  |  | 0 |
Total non-interest income, net | 10,649 | 5,253 | 9,146 | 4,206
General and administrative expenses | (39) | (3) | (90) | 7
Other expenses | (2,974) | (1,904) | (3,530) | (2,481)
Net Income | 11,897 | 7,461 | 14,119 | 9,813
HEI | VIEs |  |  |  |
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 | 0 | 0 | 0 | 878
HEI income, net | 4,176 | 453 | 7,064 |
Other income | 0 | 0 | 0 | 0
Realized gains, net |  |  | 0 |
Total non-interest income, net | 4,176 | 453 | 7,064 | 878
General and administrative expenses | 0 | 0 | 0 | 0
Other expenses | 0 | 0 | 0 | 0
Net Income | $ 4,176 | $ 453 | $ 7,064 | $ 878

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