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Residential Loans (Tables)
6 Months Ended
Jun. 30, 2018
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, 2018 and December 31, 2017.
Table 6.1 – Classifications and Carrying Values of Residential Loans
June 30, 2018
 
 
 
Legacy
 
Sequoia
 
 
(In Thousands)
 
Redwood
 
Sequoia
 
Choice
 
Total
Held-for-sale
 
 
 
 
 
 
 
 
At fair value
 
$
1,104,545

 
$

 
$

 
$
1,104,545

At lower of cost or fair value
 
115

 

 

 
115

Total held-for-sale
 
1,104,660

 



 
1,104,660

Held-for-investment at fair value
 
2,313,336

 
592,029

 
1,481,145

 
4,386,510

Total Residential Loans
 
$
3,417,996

 
$
592,029


$
1,481,145

 
$
5,491,170

December 31, 2017
 
 
 
Legacy
 
Sequoia
 
 
(In Thousands)
 
Redwood
 
Sequoia
 
Choice
 
Total
Held-for-sale
 
 
 
 
 
 
 
 
At fair value
 
$
1,427,052

 
$

 
$

 
$
1,427,052

At lower of cost or fair value
 
893

 

 

 
893

Total held-for-sale
 
1,427,945

 

 

 
1,427,945

Held-for-investment at fair value
 
2,434,386

 
632,817

 
620,062

 
3,687,265

Total Residential Loans
 
$
3,862,331

 
$
632,817

 
$
620,062

 
$
5,115,210