Residential Loans (Tables)

3 Months Ended

Mar. 31, 2019

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 March 31, 2019 and December 31, 2018.

Table 6.1 – Classifications and Carrying Values of Residential Loans



March 31, 2019			Legacy		Sequoia		Freddie Mac
(In Thousands)	Redwood		Sequoia		Choice		SLST		Total
Held-for-sale
At fair value	$	819,111	$	—	$	—	$	—	$	819,111
At lower of cost or fair value	110		—		—		—		110
Total held-for-sale	819,221		—		—		—		819,221
Held-for-investment at fair value	2,404,870		488,645		2,333,248		1,228,317		6,455,080
Total Residential Loans	$	3,224,091	$	488,645	$	2,333,248	$	1,228,317	$	7,274,301



December 31, 2018			Legacy		Sequoia		Freddie Mac
(In Thousands)	Redwood		Sequoia		Choice		SLST		Total
Held-for-sale
At fair value	$	1,048,690	$	—	$	—	$	—	$	1,048,690
At lower of cost or fair value	111		—		—		—		111
Total held-for-sale	1,048,801		—		—		—		1,048,801
Held-for-investment at fair value	2,383,932		519,958		2,079,382		1,222,669		6,205,941
Total Residential Loans	$	3,432,733	$	519,958	$	2,079,382	$	1,222,669	$	7,254,742

Classifications and Carrying Values of Business Purpose Residential Loans



(In Thousands)	March 31, 2019		December 31, 2018
Single-family rental loans, held-for-sale at fair value	$	56,696	$	28,460
Residential bridge loans, held-for-investment at fair value	103,916		112,798
Total Business Purpose Residential Loans	$	160,612	$	141,258