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Asset-Backed Securities Issued (Tables)

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Asset-Backed Securities Issued

The carrying values of ABS issued by Sequoia securitization entities we sponsored at September 30, 2017 and December 31, 2016, along with other selected information, are summarized in the following table.

Table 12.1 – Asset-Backed Securities Issued

September 30, 2017		Legacy Sequoia				Sequoia Choice				Total
(Dollars in Thousands)
Certificates with principal balance		$	730,312			$	276,873			$	1,007,185
Interest-only certificates		2,829				4,153				6,982
Market valuation adjustments		(75,181		)		5,302				(69,879		)
ABS Issued, Net		$	657,960			$	286,328			$	944,288
Range of weighted average interest rates, by series		1.20% to 2.56%				4.53%
Stated maturities		2024 - 2036				2047
Number of series		20				1

December 31, 2016		Legacy Sequoia				Sequoia Choice				Total
(Dollars in Thousands)
Certificates with principal balance		$	880,517			$	—			$	880,517
Interest-only certificates		3,774				—				3,774
Market valuation adjustments		(110,829		)		—				(110,829		)
ABS Issued, Net		$	773,462			$	—			$	773,462
Range of weighted average interest rates, by series		0.74% to 2.23%				—		%
Stated maturities		2024 - 2036				N/A
Number of series		20				—

Collateral for ABS Issued

The following table summarizes the carrying value components of the collateral for ABS issued and outstanding at September 30, 2017 and December 31, 2016.

Table 12.2 – Collateral for Asset-Backed Securities Issued

September 30, 2017		Legacy Sequoia				Sequoia Choice				Total
(In Thousands)
Residential loans		$	673,134			$	317,303			$	990,437
Restricted cash		147				—				147
Accrued interest receivable		898				1,266				2,164
REO		3,020				—				3,020
Total Collateral for ABS Issued		$	677,199			$	318,569			$	995,768

December 31, 2016		Legacy Sequoia				Sequoia Choice				Total
(In Thousands)
Residential loans		$	791,636			$	—			$	791,636
Restricted cash		148				—				148
Accrued interest receivable		1,000				—				1,000
REO		5,533				—				5,533
Total Collateral for ABS Issued		$	798,317			$	—			$	798,317

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