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Fair Value of Financial Assets and Liabilities (Tables)
 9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Summary of fair value hierarchy of financial assets and liabilities under U.S. GAAP guidance The following table sets forth by level within the fair value hierarchy financial assets and liabilities accounted for at fair value under U.S. GAAP guidance (in thousands):
 As of September 30, 2020
 Level 1Level 2Level 3Total
Assets:    
Marketable securities$121,759 $— $— $121,759 
Nasdaq Forwards— $— $18,959 $18,959 
Loans held for sale, at fair value— 1,537,734 — 1,537,734 
Rate lock commitments— — 45,561 45,561 
Forward sale contracts— — 9,625 9,625 
Total $121,759 $1,537,734 $74,145 $1,733,638 
Liabilities:
Contingent consideration$— $— $31,575 $31,575 
Rate lock commitments— — 1,133 1,133 
Forward sale contracts— — 41,730 41,730 
Total $— $— $74,438 $74,438 
 As of December 31, 2019
 Level 1Level 2Level 3Total
Assets:    
Marketable securities$36,795 $— $— $36,795 
Nasdaq Forwards— — 26,502 26,502 
Loans held for sale, at fair value— 215,290 — 215,290 
Rate lock commitments— — 32,035 32,035 
Forward sale contracts— — 14,389 14,389 
Total $36,795 $215,290 $72,926 $325,011 
Liabilities:
Contingent consideration
$— $— $45,172 $45,172 
Rate lock commitments— — 12,124 12,124 
Forwards sale contracts— — 13,537 13,537 
Total $— $— $70,833 $70,833 
Schedule of changes in Level 3 RBC forwards, rate lock commitments, forwards and contingent consideration measured at fair value on recurring basis Changes in Level 3 Nasdaq Forwards, rate lock commitments, forward sale contracts and contingent consideration measured at fair value on recurring basis were as follows (in thousands):
 As of September 30, 2020
 Opening
Balance		Total realized
and unrealized
gains (losses)
included in
Net income (loss)		IssuancesSettlementsClosing
Balance		Unrealized
gains (losses)
outstanding
as of
September 30,
2020
Assets:      
Rate lock commitments$32,035 $45,561 $— $(32,035)$45,561 $45,561 
Forward sale contracts14,389 9,625 — (14,389)9,625 9,625 
Nasdaq Forwards26,502 (7,543)— — 18,959 18,959 
Total $72,926 $47,643 $— $(46,424)$74,145 $74,145 
 Opening
Balance		Total realized
and unrealized
(gains) losses
included in
Net income (loss)		IssuancesSettlementsClosing
Balance		Unrealized
(gains) losses
outstanding
as of
September 30,
2020
Liabilities:      
Contingent consideration
$45,172 $(12,034)$2,221 $(3,784)$31,575 $145 
Rate lock commitments12,124 1,133 — (12,124)1,133 1,133 
Forward sale contracts13,537 41,730 — (13,537)41,730 41,730 
Total $70,833 $30,829 $2,221 $(29,445)$74,438 $43,008 
 
 As of December 31, 2019
 Opening
Balance		Total realized
and unrealized
gains (losses)
included in
Net income (loss)		IssuancesSettlementsClosing
Balance		Unrealized
gains (losses)
outstanding
as of
December 31,
2019
Assets:      
Rate lock commitments$6,732 $32,035 $— $(6,732)$32,035 $32,035 
Forward sale contracts8,177 14,389 — (8,177)14,389 14,389 
Nasdaq Forwards77,619 (51,117)— — 26,502 26,502 
Total $92,528 $(4,693)$— $(14,909)$72,926 $72,926 
 Opening
Balance		Total realized
and unrealized
(gains) losses
included in
Net income (loss)		IssuancesSettlementsClosing
Balance		Unrealized
(gains) losses
outstanding
as of
December 31,
2019
Liabilities:      
Contingent consideration
$32,551 $2,287 $14,957 $(4,623)$45,172 $2,287 
Rate lock commitments7,470 12,124 — (7,470)12,124 12,124 
Forward sale contracts9,208 13,537 — (9,208)13,537 13,537 
Total $49,229 $27,948 $14,957 $(21,301)$70,833 $27,948 
Summary of quantitative information about Level 3 fair value measurements
The following tables present quantitative information about the significant unobservable inputs utilized by Newmark in the fair value measurement of Level 3 assets and liabilities measured at fair value on a recurring basis:
September 30, 2020
Level 3 assets and liabilitiesAssetsLiabilitiesSignificant Unobservable
Inputs		RangeWeighted
Average
Accounts payable, accrued expenses and other liabilities:
     
Contingent consideration$— $31,575 Discount rate
0.3% - 10.4%
(1)
7.3%
 Probability of meeting earnout and contingencies
0% - 100%
(1)
98.5%
 Financial forecast information
Derivative assets and liabilities:
Nasdaq Forwards$18,959 $— Implied volatility
37.9% - 42.2%
(2)
41.9%
Forward sale contracts$9,625 $41,730 Counterparty credit riskN/AN/A
Rate lock commitments$45,561 $1,133 Counterparty credit riskN/AN/A
December 31, 2019
Level 3 assets and liabilitiesAssetsLiabilitiesSignificant Unobservable
Inputs		RangeWeighted
Average
Accounts payable, accrued expenses and other liabilities:
     
Contingent consideration$— $45,172 Discount rate
0.3% - 10.4%
8.6%
 Probability of meeting earnout and contingencies
90% - 100%
(1)
98.1%
 Financial forecast information
Derivative assets and liabilities:
Nasdaq Forwards$26,502 $— Implied volatility
25.7% - 34.8%
(2)
32.2%
Forward sale contracts$14,389 $13,537 Counterparty credit riskN/AN/A
Rate lock commitments$32,035 $12,124 Counterparty credit riskN/AN/A
(1)Newmark’s estimate of contingent consideration as of September 30, 2020 and December 31, 2019 was based on the acquired business’ projected future financial performance, including revenues.
(2)The volatility of Newmark’s Nasdaq Forwards is primarily based on the volatility of the underlying Nasdaq stock price.