Business Purpose Residential Loans (Tables) - Business purpose residential loans

12 Months Ended

Dec. 31, 2018

Accounts, Notes, Loans and Financing Receivable [Line Items]

Summary of Classifications and Carrying Value of Loans

The following table summarizes the classifications and carrying values of the business purpose residential loans owned at Redwood at December 31, 2018 and December 31, 2017.

Table 7.1 – Classifications and Carrying Values of Business Purpose Residential Loans



(In Thousands)	December 31, 2018		December 31, 2017
Single-family rental loans, held-for-sale at fair value	$	28,460	$	—
Residential bridge loans, held-for-investment at fair value	112,798		—
Total Business Purpose Residential Loans	$	141,258	$	—

Geographic Concentration of Loans Recorded on Consolidated Balance Sheet

The following table presents the geographic concentration of business purpose residential loans recorded on our consolidated balance sheets at December 31, 2018.

Table 7.2 – Geographic Concentration of Business Purpose Residential Loans



	December 31, 2018
Geographic Concentration (by Principal)	Single-Family Rental		Residential Bridge
Florida	69	%	7	%
Texas	14	%	—	%
California	—	%	79	%
Utah	—	%	5	%
Other states (none greater than 5%)	17	%	9	%
Total	100	%	100	%

Loan Product Type and Accompanying Loan Characteristics of Loans

The following table displays the loan product type and accompanying loan characteristics of business purpose residential loans recorded on our consolidated balance sheets at December 31, 2018.

Table 7.3 – Product Types and Characteristics of Business Purpose Residential Loans



December 31, 2018
(In Thousands)
Loan Balance					Number of Loans	Interest Rate				Maturity Date			Total Principal		30-89 Days DQ		90+ Days DQ
Single-Family Rental:
Fixed loans:
	$	251	to	$500	2	6.79	%	to	7.47%	2028-08	-	2028-12	$	787	$	—	$	—
	$	501	to	$750	2	6.12	%	to	7.25%	2023-09	-	2028-11	1,252		—		—
	$	751	to	$1,000	3	5.91	%	to	6.58%	2023-11	-	2028-12	2,488		—		—
			over	$1,000	4	5.62	%	to	6.94%	2023-10	-	2025-12	23,039		—		—
Total Single-Family Rental:					11								$	27,566	$	—	$	—

Residential Bridge:
Fixed loans:
	$	—	to	$250	50	8.00	%	to	12.00%	2018-07	-	2020-05	$	7,941	$	262	$	695
	$	251	to	$500	38	8.00	%	to	10.00%	2018-09	-	2019-12	13,297		636		469
	$	501	to	$750	21	7.50	%	to	10.00%	2019-01	-	2019-12	12,410		1,769		—
	$	751	to	$1,000	19	7.50	%	to	10.00%	2019-04	-	2019-12	16,937		840		—
			over	$1,000	29	8.00	%	to	10.00%	2018-09	-	2019-12	61,775		1,484		10,970
Total Residential Bridge:					157								$	112,360	$	4,991	$	12,134