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Business Purpose Residential Loans (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2019 and December 31, 2018.

Table 6.1 – Classifications and Carrying Values of Residential Loans



June 30, 2019			Legacy		Sequoia		Freddie Mac
(In Thousands)	Redwood		Sequoia		Choice		SLST		Total
Held-for-sale
At fair value	$	1,056,178	$	—	$	—	$	—	$	1,056,178
At lower of cost or fair value	109		—		—		—		109
Total held-for-sale	1,056,287		—		—		—		1,056,287
Held-for-investment at fair value	2,386,883		457,750		2,147,356		1,235,089		6,227,078
Total Residential Loans	$	3,443,170	$	457,750	$	2,147,356	$	1,235,089	$	7,283,365



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

The following table summarizes the classifications and carrying values of the business purpose residential loans owned at Redwood at June 30, 2019 and December 31, 2018.

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



(In Thousands)	June 30, 2019		December 31, 2018
Single-family rental loans, held-for-sale at fair value	$	91,501	$	28,460
Residential bridge loans, held-for-investment at fair value	159,353		112,798
Total Business Purpose Residential Loans	$	250,854	$	141,258