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Segment Information (Tables)
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Financial Information by Segment
The following tables present financial information by segment for the years ended December 31, 2020, 2019, and 2018.
Table 23.1 – Business Segment Financial Information
Year Ended December 31, 2020
(In Thousands)Residential LendingBusiness Purpose LendingThird-Party Investments Corporate/
Other 		 Total
Interest income$150,906 $218,890 $192,984 $9,136 $571,916 
Interest expense(107,371)(157,292)(135,722)(47,620)(448,005)
Net interest income43,535 61,598 57,262 (38,484)123,911 
Non-interest income
Mortgage banking activities, net3,721 74,751 — — 78,472 
Investment fair value changes, net(153,388)(81,042)(352,004)(2,004)(588,438)
Other income, net(4,642)4,651 1,494 2,685 4,188 
Realized gains, net2,001 — 3,241 25,182 30,424 
Total non-interest income, net(152,308)(1,640)(347,269)25,863 (475,354)
General and administrative expenses (17,939)(39,319)(5,046)(52,900)(115,204)
Loan acquisition costs(2,785)(7,544)(684)(10)(11,023)
Other expenses(4,114)(104,147)194 (718)(108,785)
Provision for income taxes4,567 (4,063)4,104 — 4,608 
Segment Contribution$(129,044)$(95,115)$(291,439)$(66,249)
Net Loss$(581,847)
Non-cash amortization (expense) income, net$2,401 $(24,638)$1,867 $(4,954)$(25,324)
Other significant non-cash expense: goodwill impairment$— $(88,675)$— $— $(88,675)
Year Ended December 31, 2019
(In Thousands)Residential LendingBusiness Purpose LendingThird-Party Investments Corporate/
Other 		 Total
Interest income$268,559 $54,372 $281,701 $17,649 $622,281 
Interest expense(171,119)(32,232)(213,312)(63,145)(479,808)
Net interest income 97,440 22,140 68,389 (45,496)142,473 
Non-interest income
Mortgage banking activities, net47,743 39,523 — — 87,266 
Investment fair value changes, net(27,920)(6,722)71,759 (1,617)35,500 
Other income9,210 5,852 1,484 2,711 19,257 
Realized gains, net8,292 — 15,529 — 23,821 
Total non-interest income (loss), net37,325 38,653 88,772 1,094 165,844 
General and administrative expenses (26,717)(25,591)(3,561)(52,868)(108,737)
Loan acquisition costs(3,954)(5,064)(780)(137)(9,935)
Other expenses— (8,521)(1,106)(3,395)(13,022)
Provision for income taxes(4,074)(947)(2,419)— (7,440)
Segment Contribution$100,020 $20,670 $149,295 $(100,802)
Net Income$169,183 
Non-cash amortization income (expense), net$3,669 $(9,173)$6,956 $(4,813)$(3,361)
Year Ended December 31, 2018
(In Thousands)Residential LendingBusiness Purpose LendingThird-Party Investments Corporate/
Other		 Total
Interest income$245,124 $4,588 $108,969 $20,036 $378,717 
Interest expense(134,590)(1,598)(41,887)(60,964)(239,039)
Net interest income 110,534 2,990 67,082 (40,928)139,678 
Non-interest income
Mortgage banking activities, net59,623 (57)— — 59,566 
Investment fair value changes, net(21,686)(29)(2,978)(996)(25,689)
Other income12,452 — — 618 13,070 
Realized gains, net7,709 — 19,332 — 27,041 
Total non-interest income (loss), net58,098 (86)16,354 (378)73,988 
General and administrative expenses(26,897)(1,948)(2,140)(44,313)(75,298)
Loan acquisition costs(5,242)(649)(1,584)(9)(7,484)
Other expense— — (18)(178)(196)
Provision for income taxes(8,033)— (3,055)— (11,088)
Segment Contribution$128,460 $307 $76,639 $(85,806)
Net Income$119,600 
Non-cash amortization income (expense), net$4,486 $(290)$12,294 $(4,111)$12,379 
Schedule Of Corporate And Other
The following table presents the components of Corporate/Other for the years ended December 31, 2020, 2019, and 2018.
Table 23.2 – Components of Corporate/Other
Years Ended December 31,
202020192018
(In Thousands)
Legacy Consolidated VIEs (1)
OtherTotal
Legacy Consolidated VIEs (1)
Other Total
Legacy Consolidated VIEs (1)
Other Total
Interest income$9,061 $75 $9,136 $17,649 $— $17,649 $20,036 $— $20,036 
Interest expense(5,945)(41,675)(47,620)(14,418)(48,727)(63,145)(16,519)(44,445)(60,964)
Net interest income (loss)3,116 (41,600)(38,484)3,231 (48,727)(45,496)3,517 (44,445)(40,928)
Non-interest income
Investment fair value changes, net(1,512)(492)(2,004)(1,545)(72)(1,617)(1,016)20 (996)
Other income— 2,685 2,685 — 2,711 2,711 — 618 618 
Realized gains, net— 25,182 25,182 — — — — — — 
Total non-interest (loss) income, net(1,512)27,375 25,863 (1,545)2,639 1,094 (1,016)638 (378)
General and administrative expenses— (52,900)(52,900)— (52,868)(52,868)— (44,313)(44,313)
Loan acquisition costs— (10)(10)— (137)(137)— (9)(9)
Other expenses— (718)(718)— (3,395)(3,395)— (178)(178)
Total$1,604 $(67,853)$(66,249)$1,686 $(102,488)$(100,802)$2,501 $(88,307)$(85,806)
(1)     Legacy consolidated VIEs represent Legacy Sequoia entities that are consolidated for GAAP financial reporting purposes. See Note 4 for further discussion on VIEs.
Supplemental Balance Sheet
The following table presents supplemental information by segment at December 31, 2020 and December 31, 2019.
Table 23.3 – Supplemental Segment Information
(In Thousands)Residential LendingBusiness Purpose LendingThird-Party Investments Corporate/
Other		Total
December 31, 2020
Residential loans$1,741,963 $— $2,221,153 $285,935 $4,249,051 
Business purpose loans— 4,136,353 — — 4,136,353 
Multifamily loans— — 492,221 — 492,221 
Real estate securities160,780 — 183,345 — 344,125 
Other investments8,815 21,627 317,282 451 348,175 
Goodwill and intangible assets— 56,865 — — 56,865 
Total assets1,989,802 4,323,040 3,232,415 809,809 10,355,066 
December 31, 2019
Residential loans$4,939,745 $— $2,367,215 $407,890 $7,714,850 
Business purpose loans— 3,506,743 — — 3,506,743 
Multifamily loans— — 4,408,524 — 4,408,524 
Real estate securities229,074 — 870,800 — 1,099,874 
Other investments42,224 21,002 294,904 — 358,130 
Goodwill and intangible assets— 161,464 — — 161,464 
Total assets5,410,540 3,786,641 8,028,946 769,313 17,995,440