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Asset-Backed Securities Issued (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Asset-Backed Securities Issued

The carrying values of ABS issued by Sequoia securitization entities we sponsored at March 31, 2018 and December 31, 2017, along with other selected information, are summarized in the following table.

Table 12.1 – Asset-Backed Securities Issued

March 31, 2018		Legacy Sequoia				Sequoia Choice				Total
(Dollars in Thousands)
Certificates with principal balance		$	655,188			$	905,713			$	1,560,901
Interest-only certificates		1,809				13,641				15,450
Market valuation adjustments		(41,148		)		6,884				(34,264		)
ABS Issued, Net		$	615,849			$	926,238			$	1,542,087
Range of weighted average interest rates, by series		1.77% to 2.83%				4.49% to 4.66%
Stated maturities		2024 - 2036				2047 - 2048
Number of series		20				3

December 31, 2017		Legacy Sequoia				Sequoia Choice				Total
(Dollars in Thousands)
Certificates with principal balance		$	691,125			$	526,657			$	1,217,782
Interest-only certificates		1,972				7,695				9,667
Market valuation adjustments		(70,652		)		7,788				(62,864		)
ABS Issued, Net		$	622,445			$	542,140			$	1,164,585
Range of weighted average interest rates, by series		1.46% to 2.78%				4.52% to 4.73%
Stated maturities		2024 - 2036				2047
Number of series		20				2

Collateral for ABS Issued

The following table summarizes the carrying value components of the collateral for ABS issued and outstanding at March 31, 2018 and December 31, 2017.

Table 12.2 – Collateral for Asset-Backed Securities Issued

March 31, 2018		Legacy Sequoia				Sequoia Choice				Total
(In Thousands)
Residential loans		$	626,151			$	1,013,619			$	1,639,770
Restricted cash		148				7				155
Accrued interest receivable		753				4,057				4,810
REO		3,115				—				3,115
Total Collateral for ABS Issued		$	630,167			$	1,017,683			$	1,647,850

December 31, 2017		Legacy Sequoia				Sequoia Choice				Total
(In Thousands)
Residential loans		$	632,817			$	620,062			$	1,252,879
Restricted cash		147				4				151
Accrued interest receivable		867				2,524				3,391
REO		3,353				—				3,353
Total Collateral for ABS Issued		$	637,184			$	622,590			$	1,259,774

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