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

Table 14.1 – Asset-Backed Securities Issued
September 30, 2019
 
Legacy
Sequoia
 
Sequoia
Choice
 
Freddie Mac SLST
 
Freddie Mac
K-Series
 
Total
(Dollars in Thousands)
 
 
 
 
 
Certificates with principal balance
 
$
437,793

 
$
2,285,479

 
$
1,885,106

 
$
3,239,009

 
$
7,847,387

Interest-only certificates
 
1,486

 
16,619

 
28,758

 
202,730

 
249,593

Market valuation adjustments
 
(19,389
)
 
59,013

 
73,609

 
135,838

 
249,071

ABS Issued, Net
 
$
419,890

 
$
2,361,111

 
$
1,987,473

 
$
3,577,577

 
$
8,346,051

Range of weighted average interest rates, by series
 
2.22% to 3.49%

 
4.41% to 5.06%

 
3.50
%
 
3.39% to 4.20%

 
 
Stated maturities
 
2024 - 2036

 
2047 - 2049

 
2028 - 2029

 
2025 - 2049

 
 
Number of series
 
20

 
9

 
2

 
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 The following table summarizes the accrued interest payable on ABS issued at September 30, 2019 and December 31, 2018. Interest due on consolidated ABS issued is payable monthly.
Table 14.2 – Accrued Interest Payable on Asset-Backed Securities Issued
(In Thousands)
 
September 30, 2019
 
December 31, 2018
Legacy Sequoia
 
$
456

 
$
571

Sequoia Choice
 
8,949

 
7,180

Freddie Mac SLST
 
5,498

 
2,907

Freddie Mac K-Series
 
10,805

 
6,239

Total Accrued Interest Payable on ABS Issued
 
$
25,708

 
$
16,897
Collateral for ABS Issued
The following table summarizes the carrying value components of the collateral for ABS issued and outstanding at September 30, 2019 and December 31, 2018.
Table 14.3 – Collateral for Asset-Backed Securities Issued
September 30, 2019
 
Legacy
Sequoia
 
Sequoia
Choice
 
Freddie Mac SLST
 
Freddie Mac
K-Series
 
Total
(In Thousands)
 
 
 
 
 
Residential loans
 
$
429,159

 
$
2,618,316

 
$
2,441,223

 
$
—

 
$
5,488,698

Multifamily loans
 
—

 
—

 
—

 
3,791,622

 
3,791,622

Restricted cash
 
143

 
15

 
—

 
—

 
158

Accrued interest receivable
 
716

 
10,806

 
7,215

 
11,300

 
30,037

REO
 
460

 
—

 
84

 
—

 
544

Total Collateral for ABS Issued
 
$
430,478

 
$
2,629,137

 
$
2,448,522

 
$
3,802,922

 
$
9,311,059

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