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Residential Loans (Tables) | 9 Months Ended
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Sep. 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 September 30, 2018 and December 31, 2017. Table 6.1 – Classifications and Carrying Values of Residential Loans
September 30, 2018 |  |  |  | Legacy |  | Sequoia |  |
(In Thousands) |  | Redwood |  | Sequoia |  | Choice |  | Total
Held-for-sale |  |  |  |  |  |  |  |
At fair value |  | $ | 866,331 |  |  | $ | — |  |  | $ | — |  |  | $ | 866,331 |
At lower of cost or fair value |  | 113 |  |  | — |  |  | — |  |  | 113 |
Total held-for-sale |  | 866,444 |  |  | — |  |  | — |  |  | 866,444 |
Held-for-investment at fair value |  | 2,320,662 |  |  | 553,958 |  |  | 2,181,195 |  |  | 5,055,815 |
Total Residential Loans |  | $ | 3,187,106 |  |  | $ | 553,958 |  |  | $ | 2,181,195 |  |  | $ | 5,922,259 |
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 |
Classifications and Carrying Values of Business Purpose Loans
(In Thousands) |  | September 30, 2018 |  | December 31, 2017
Single-family rental loans, held-for-sale at fair value |  | $ | 20,105 |  |  | $ | — |
Fix-and-flip loans, held-for-investment at fair value |  | 95,515 |  |  | — |
Total Business Purpose Loans |  | $ | 115,620 |  |  | $ | — |

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- Definition Tabular disclosure of the net carrying value for loans by entity as of the balance sheet date. + References No definition available. + Details
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