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Asset-Backed Securities Issued (Tables)
 3 Months Ended
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		HEITotal
(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 value122 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)
2024-20362047-20542027-20332028-205920252052-2053
Number of series20 25 21 3 1 2 

December 31, 2023
Legacy
Sequoia		Sequoia
CAFL(1)
Freddie Mac SLST (2)
Freddie Mac K-SeriesHEITotal
(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 value162 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)
2024-20362047-20532027-20332028-205920252052-2053
Number of series20 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, 2024December 31, 2023
Legacy Sequoia$283 $303 
Sequoia 21,428 15,990 
CAFL10,653 11,537 
Freddie Mac SLST (1)
4,391 4,496 
Freddie Mac K-Series1,184 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.