Asset-Backed Securities Issued (Tables)

12 Months Ended

Dec. 31, 2018

Carrying Value of ABS Issued by Consolidated Securitization Entities Sponsored, along with Other Selected Information

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

Table 14.1 – Asset-Backed Securities Issued



	December 31, 2018
(Dollars in Thousands)	Legacy Sequoia			Sequoia Choice		Freddie Mac SLST			Freddie Mac K-Series			Total
Certificates with principal balance	$	540,456		$	1,838,758	$	993,659		$	1,936,691		$	5,309,564
Interest-only certificates	1,537			25,662		—			131,600			158,799
Market valuation adjustments	(29,753		)	20,590		89			(49,216		)	(58,290		)
ABS Issued, Net	$	512,240		$	1,885,010	$	993,748		$	2,019,075		$	5,410,073
Range of weighted average interest rates, by series	1.36% to 3.60%			4.46% to 4.97%		3.51		%	3.39% to 4.08%
Stated maturities	2024 - 2036			2047 - 2048		2028			2025 - 2049
Number of series	20			6		1			3



	December 31, 2017
(Dollars in Thousands)	Legacy Sequoia			Sequoia Choice		Freddie Mac SLST			Freddie Mac K-Series			Total
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		—			—

Schedule of Interest Payable On Asset-Backed Securities Issued



(In Thousands)	December 31, 2018		December 31, 2017
Legacy Sequoia	$	571	$	537
Sequoia Choice	7,180		2,031
Freddie Mac SLST	2,907		—
Freddie Mac K-Series	6,239		—
Total Accrued Interest Payable on ABS Issued	$	16,897	$	2,568

Summary of Carrying Value Components of Collateral for ABS Issued and Outstanding

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

Table 14.3 – Collateral for Asset-Backed Securities Issued



	December 31, 2018
(In Thousands)	Legacy Sequoia		Sequoia Choice		Freddie Mac SLST		Freddie Mac K-Series		Total
Residential loans	$	519,958	$	2,079,382	$	1,222,669	$	—	$	3,822,009
Multifamily loans	—		—		—		2,144,598		2,144,598
Restricted cash	146		1,022		—		—		1,168
Accrued interest receivable	822		8,988		3,926		6,595		20,331
REO	3,943		—		—		—		3,943
Total Collateral for ABS Issued	$	524,869	$	2,089,392	$	1,226,595	$	2,151,193	$	5,992,049



	December 31, 2017
(In Thousands)	Legacy Sequoia		Sequoia Choice		Freddie Mac SLST		Freddie Mac K-Series		Total
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