Business Purpose Residential Loans (Tables)

9 Months Ended

Sep. 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 September 30, 2019 and December 31, 2018.

Table 6.1 – Classifications and Carrying Values of Residential Loans



September 30, 2019			Legacy		Sequoia		Freddie Mac
(In Thousands)	Redwood		Sequoia		Choice		SLST		Total
Held-for-sale
At fair value	$	925,780	$	—	$	—	$	—	$	925,780
At lower of cost or fair value	107		—		—		—		107
Total held-for-sale	925,887		—		—		—		925,887
Held-for-investment at fair value	2,267,218		429,159		2,618,316		2,441,223		7,755,916
Total Residential Loans	$	3,193,105	$	429,159	$	2,618,316	$	2,441,223	$	8,681,803



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 September 30, 2019 and December 31, 2018.

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



September 30, 2019	Single-Family		Residential
(In Thousands)	Rental		Bridge		Total
Held-for-sale at fair value	$	110,434	$	—	$	110,434
Held-for-investment at fair value	18,711		206,890		225,601
Total Business Purpose Residential Loans	$	129,145	$	206,890	$	336,035



December 31, 2018	Single-Family		Residential
(In Thousands)	Rental		Bridge		Total
Held-for-sale at fair value	$	28,460	$	—	$	28,460
Held-for-investment at fair value	—		112,798		112,798
Total Business Purpose Residential Loans	$	28,460	$	112,798	$	141,258