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Asset-Backed Securities Issued (Tables)
 3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Asset-Backed Securities Issued
The carrying values of ABS issued by Sequoia securitization entities we sponsored at March 31, 2019 and December 31, 2018, along with other selected information, are summarized in the following table.

Table 14.1 – Asset-Backed Securities Issued
March 31, 2019
 
Legacy
Sequoia
 
Sequoia
Choice
 
Freddie Mac SLST
 
Freddie Mac
K-Series
 
Total
(Dollars in Thousands)
 
 
 
 
 
Certificates with principal balance
 
$
501,300

 
$
2,053,345

 
$
975,780

 
$
1,933,620

 
$
5,464,045

Interest-only certificates
 
1,527

 
23,744

 
—

 
125,296

 
150,567

Market valuation adjustments
 
(22,828
)
 
40,267

 
17,252

 
(11,659
)
 
23,032

ABS Issued, Net
 
$
479,999

 
$
2,117,356

 
$
993,032

 
$
2,047,257

 
$
5,637,644

Range of weighted average interest rates, by series
 
2.48% to 3.60%

 
4.12% to 4.96%

 
3.50
%
 
3.39% to 4.08%

 
 
Stated maturities
 
2024 - 2036

 
2047 - 2049

 
2028

 
2025 - 2049

 
 
Number of series
 
20

 
7

 
1

 
3

 
 

December 31, 2018
 
Legacy
Sequoia
 
Sequoia
Choice
 
Freddie Mac SLST
 
Freddie Mac
K-Series
 
Total
(Dollars in Thousands)
 
 
 
 
 
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

 
 
Accrued Interest Payable on Asset-Backed Securities Issued
Accrued Interest Payable on Asset-Backed Securities Issued
(In Thousands)
 
March 31, 2019
 
December 31, 2018
Legacy Sequoia
 
$
531

 
$
571

Sequoia Choice
 
7,854

 
7,180

Freddie Mac SLST
 
2,846

 
2,907

Freddie Mac K-Series
 
6,230

 
6,239

Total Accrued Interest Payable on ABS Issued
 
$
17,461

 
$
16,897
Collateral for ABS Issued
The following table summarizes the carrying value components of the collateral for ABS issued and outstanding at March 31, 2019 and December 31, 2018.
Table 14.3 – Collateral for Asset-Backed Securities Issued
March 31, 2019
 
Legacy
Sequoia
 
Sequoia
Choice
 
Freddie Mac SLST
 
Freddie Mac
K-Series
 
Total
(In Thousands)
 
 
 
 
 
Residential loans
 
$
488,645

 
$
2,333,248

 
$
1,228,317

 
$
—

 
$
4,050,210

Multifamily loans
 
—

 
—

 
—

 
2,175,899

 
2,175,899

Restricted cash
 
146

 
14

 
—

 
—

 
160

Accrued interest receivable
 
776

 
9,616

 
3,861

 
6,587

 
20,840

REO
 
2,280

 
—

 
—

 
—

 
2,280

Total Collateral for ABS Issued
 
$
491,847

 
$
2,342,878

 
$
1,232,178

 
$
2,182,486

 
$
6,249,389

December 31, 2018
 
Legacy
Sequoia
 
Sequoia
Choice
 
Freddie Mac SLST
 
Freddie Mac
K-Series
 
Total
(In Thousands)
 
 
 
 
 
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