Residential Loans (Tables)

3 Months Ended

Mar. 31, 2016

Mortgage Loans on Real Estate [Line Items]

Summary of Classifications and Carrying Value of Loans

The following table summarizes the classifications and carrying values of the residential loans owned at Redwood and at consolidated Sequoia entities at March 31, 2016 and December 31, 2015.

Table 6.1 – Classifications and Carrying Values of the Residential Loans



March 31, 2016
(In Thousands)	Redwood		Sequoia		Total
Held-for-sale
Fair value - conforming	$	1,387	$	—	$	1,387
Fair value - jumbo	438,287		—		438,287
Lower of cost or fair value - jumbo	1,402		—		1,402
Total held-for-sale	441,076		—		441,076
Held-for-investment
Fair value - jumbo	2,343,953		930,027		3,273,980
Total Residential Loans	$	2,785,029	$	930,027	$	3,715,056



December 31, 2015
(In Thousands)	Redwood		Sequoia		Total
Held-for-sale
Fair value - conforming	$	129,819	$	—	$	129,819
Fair value - jumbo	984,486		—		984,486
Lower of cost or fair value - jumbo	1,433		—		1,433
Total held-for-sale	1,115,738		—		1,115,738
Held-for-investment
Fair value - jumbo	1,791,195		1,021,870		2,813,065
Total Residential Loans	$	2,906,933	$	1,021,870	$	3,928,803