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Residential Loans (Tables)
3 Months Ended
Mar. 31, 2017
Receivables [Abstract]  
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, 2017 and December 31, 2016.
Table 6.1 – Classifications and Carrying Values of Residential Loans
March 31, 2017
 
 
 
 
 
 
(In Thousands)
 
Redwood
 
Sequoia
 
Total
Held-for-sale
 
 
 
 
 
 
At fair value
 
$
375,407

 
$

 
$
375,407

At lower of cost or fair value
 
1,200

 

 
1,200

Total held-for-sale
 
376,607

 

 
376,607

Held-for-investment at fair value
 
2,350,013

 
745,621

 
3,095,634

Total Residential Loans
 
$
2,726,620

 
$
745,621

 
$
3,472,241

December 31, 2016
 
 
 
 
 
 
(In Thousands)
 
Redwood
 
Sequoia
 
Total
Held-for-sale
 
 
 
 
 
 
At fair value
 
$
834,193

 
$

 
$
834,193

At lower of cost or fair value
 
1,206

 

 
1,206

Total held-for-sale
 
835,399

 

 
835,399

Held-for-investment at fair value
 
2,261,016

 
791,636

 
3,052,652

Total Residential Loans
 
$
3,096,415

 
$
791,636

 
$
3,888,051