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Residential Loans (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2017 and December 31, 2016.
Table 6.1 – Classifications and Carrying Values of Residential Loans
June 30, 2017
 
 
 
 
 
 
(In Thousands)
 
Redwood
 
Sequoia
 
Total
Held-for-sale
 
 
 
 
 
 
At fair value
 
$
836,291

 
$
—

 
$
836,291

At lower of cost or fair value
 
1,080

 
—

 
1,080

Total held-for-sale
 
837,371

 
—

 
837,371

Held-for-investment at fair value
 
2,360,234

 
707,686

 
3,067,920

Total Residential Loans
 
$
3,197,605

 
$
707,686

 
$
3,905,291

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