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Investment Fair Value Changes, Net (Tables)
 12 Months Ended
Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Investments Fair Value Changes
The following table presents the components of Investment fair value changes, net, recorded in our consolidated statements of income for the years ended December 31, 2016, 2015 and 2014.
Table 19.1 – Investment Fair Value Changes
 
 
Years Ended December 31,
(In Thousands)
 
2016
 
2015
 
2014
Investment Fair Value Changes, Net
 
 
 
 
 
 
     Changes in fair value of:
 
 
 
 
 
 
Residential loans held-for-investment, at Redwood
 
$
(23,102
)
 
$
(6,337
)
 
$
(697
)
Trading securities
 
9,666

 
(2,019
)
 
(358
)
Net investments in consolidated Sequoia entities
 
(4,200
)
 
(1,192
)
 
(894
)
Risk sharing investments
 
(1,151
)
 
(1,886
)
 
104

Risk management derivatives
 
(9,112
)
 
(9,677
)
 
(7,792
)
Valuation adjustments on commercial loans held-for-sale
 
(307
)
 
—

 
—

Impairments on AFS securities
 
(368
)
 
(246
)
 
(565
)
Investment Fair Value Changes, Net
 
$
(28,574
)
 
$
(21,357
)
 
$
(10,202
)