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Asset-Backed Securities Issued (Tables) | 3 Months Ended
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Mar. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Asset-Backed Securities Issued | The carrying values of ABS issued by our consolidated securitization entities at March 31, 2024 and December 31, 2023, along with other selected information, are summarized in the following table. Table 15.1 – Asset-Backed Securities Issued
|  | March 31, 2024
|  | Legacy Sequoia |  | Sequoia |  | CAFL (1) |  | Freddie Mac SLST (2) |  | Freddie Mac K-Series |  | HEI |  | Total
(Dollars in Thousands) |  |  |  |  |  |  |
Certificates with principal balance |  | $ | 141,686 |  |  | $ | 6,060,855 |  |  | $ | 3,339,432 |  |  | $ | 1,305,826 |  |  | $ | 400,250 |  |  | $ | 226,752 |  |  | $ | 11,474,801 |
Interest-only certificates at fair value |  | 122 |  |  | 53,814 |  |  | 94,096 |  |  | 12,984 |  |  | 3,712 |  |  | — |  |  | 164,728 |
Market valuation adjustments |  | (10,933) |  |  | (691,532) |  |  | (204,149) |  |  | (79,468) |  |  | (14,724) |  |  | (6,427) |  |  | (1,007,233) |
Unamortized debt discount and deferred debt issuance costs |  | — |  |  | — |  |  | (575) |  |  | (3,532) |  |  | — |  |  | — |  |  | (4,107) |
ABS Issued, Net |  | $ | 130,875 |  |  | $ | 5,423,137 |  |  | $ | 3,228,804 |  |  | $ | 1,235,810 |  |  | $ | 389,238 |  |  | $ | 220,325 |  |  | $ | 10,628,189 |
Range of weighted average interest rates, by series(3) |  | 3.75% to 6.69% |  | 2.67% to 6.23% |  | 2.31% to 7.89% |  | 3.50% to 7.50% |  | 3.55 | % |  | 3.88% to 6.71% |  |
Stated maturities(3) |  | 2024-2036 |  | 2047-2054 |  | 2027-2033 |  | 2028-2059 |  | 2025 |  | 2052-2053 |  |
Number of series |  | 20 |  |  | 25 |  |  | 21 |  |  | 3 |  |  | 1 |  |  | 2 |  |  |
|  | December 31, 2023
|  | Legacy Sequoia |  | Sequoia |  | CAFL(1) |  | Freddie Mac SLST (2) |  | Freddie Mac K-Series |  | HEI |  | Total
(Dollars in Thousands) |  |  |  |  |  |  |
Certificates with principal balance |  | $ | 151,106 |  |  | $ | 5,000,540 |  |  | $ | 3,472,825 |  |  | $ | 1,328,657 |  |  | $ | 402,400 |  |  | $ | 233,131 |  |  | $ | 10,588,659 |
Interest-only certificates at fair value |  | 162 |  |  | 52,112 |  |  | 101,828 |  |  | 13,856 |  |  | 4,562 |  |  | — |  |  | 172,520 |
Market valuation adjustments |  | (12,738) |  |  | (622,522) |  |  | (209,740) |  |  | (72,742) |  |  | (14,985) |  |  | (10,643) |  |  | (943,370) |
Unamortized debt discount and deferred debt issuance costs |  | — |  |  | — |  |  | (1,935) |  |  | (3,994) |  |  | — |  |  | — |  |  | (5,929) |
ABS Issued, Net |  | $ | 138,530 |  |  | $ | 4,430,130 |  |  | $ | 3,362,978 |  |  | $ | 1,265,777 |  |  | $ | 391,977 |  |  | $ | 222,488 |  |  | $ | 9,811,880 |
Range of weighted average interest rates, by series(3) |  | 3.59% to 6.66% |  | 2.67% to 6.24% |  | 2.34% to 7.89% |  | 3.50% to 7.5% |  | 3.55 | % |  | 3.86% to 6.7% |  |
Stated maturities(3) |  | 2024-2036 |  | 2047-2053 |  | 2027-2033 |  | 2028-2059 |  | 2025 |  | 2052-2053 |  |
Number of series |  | 20 |  |  | 22 |  |  | 21 |  |  | 3 |  |  | 1 |  |  | 2 |  |  |
(1)Includes $478 million and $485 million (principal balance) of ABS issued by two CAFL bridge securitization trusts sponsored by Redwood and accounted for at amortized cost at March 31, 2024 and December 31, 2023, respectively. (2)Includes $175 million and $182 million (principal balance) of ABS issued by a re-securitization trust sponsored by Redwood and accounted for at amortized cost at both March 31, 2024 and December 31, 2023, respectively. (3)Certain ABS issued by CAFL and HEI securitization entities are subject to early redemption and interest rate step-ups as described below.
Schedule of Accrued Interest Payable on Asset-Backed Securities Issued | The following table summarizes the accrued interest payable on ABS issued at March 31, 2024 and December 31, 2023. Interest due on consolidated ABS issued is payable monthly. Table 15.2 – Accrued Interest Payable on Asset-Backed Securities Issued
(In Thousands) |  | March 31, 2024 |  | December 31, 2023
Legacy Sequoia |  | $ | 283 |  |  | $ | 303 |
Sequoia |  | 21,428 |  |  | 15,990 |
CAFL |  | 10,653 |  |  | 11,537 |
Freddie Mac SLST (1) |  | 4,391 |  |  | 4,496 |
Freddie Mac K-Series |  | 1,184 |  |  | 1,190 |
Total Accrued Interest Payable on ABS Issued |  | $ | 37,939 |  |  | $ | 33,516 |
(1)Includes accrued interest payable on ABS issued by a re-securitization trust sponsored by Redwood.

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