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Asset-Backed Securities Issued (Tables)
 6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Asset-Backed Securities Issued
The carrying values of ABS issued by Sequoia securitization entities we sponsored at June 30, 2019 and December 31, 2018, along with other selected information, are summarized in the following table.

Table 14.1 – Asset-Backed Securities Issued
June 30, 2019
 
Legacy
Sequoia
 
Sequoia
Choice
 
Freddie Mac SLST
 
Freddie Mac
K-Series
 
Total
(Dollars in Thousands)
 
 
 
 
 
Certificates with principal balance
 
$
468,193

 
$
1,862,408

 
$
951,074

 
$
3,244,398

 
$
6,526,073

Interest-only certificates
 
1,637

 
17,713

 
—

 
207,278

 
226,628

Market valuation adjustments
 
(20,968
)
 
49,323

 
40,692

 
91,381

 
160,428

ABS Issued, Net
 
$
448,862

 
$
1,929,444

 
$
991,766

 
$
3,543,057

 
$
6,913,129

Range of weighted average interest rates, by series
 
2.55% to 3.68%

 
4.42% to 5.08%

 
3.50
%
 
3.39% to 4.20%

 
 
Stated maturities
 
2024 - 2036

 
2047 - 2049

 
2028

 
2025 - 2049

 
 
Number of series
 
20

 
7

 
1

 
4

 
 

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)
 
June 30, 2019
 
December 31, 2018
Legacy Sequoia
 
$
519

 
$
571

Sequoia Choice
 
7,322

 
7,180

Freddie Mac SLST
 
2,774

 
2,907

Freddie Mac K-Series
 
10,822

 
6,239

Total Accrued Interest Payable on ABS Issued
 
$
21,437

 
$
16,897
Collateral for ABS Issued
The following table summarizes the carrying value components of the collateral for ABS issued and outstanding at June 30, 2019 and December 31, 2018.
Table 14.3 – Collateral for Asset-Backed Securities Issued
June 30, 2019
 
Legacy
Sequoia
 
Sequoia
Choice
 
Freddie Mac SLST
 
Freddie Mac
K-Series
 
Total
(In Thousands)
 
 
 
 
 
Residential loans
 
$
457,750

 
$
2,147,356

 
$
1,235,089

 
$
—

 
$
3,840,195

Multifamily loans
 
—

 
—

 
—

 
3,749,657

 
3,749,657

Restricted cash
 
144

 
14

 
—

 
—

 
158

Accrued interest receivable
 
771

 
8,946

 
3,786

 
11,317

 
24,820

REO
 
1,448

 
—

 
—

 
—

 
1,448

Total Collateral for ABS Issued
 
$
460,113

 
$
2,156,316

 
$
1,238,875

 
$
3,760,974

 
$
7,616,278

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