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Business Purpose Residential Loans (Tables)
 6 Months Ended
Jun. 30, 2020
Receivables [Abstract]  
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 and Freddie Mac SLST entities at June 30, 2020 and December 31, 2019.
Table 6.1 – Classifications and Carrying Values of Residential Loans
June 30, 2020LegacySequoiaFreddie Mac
(In Thousands)RedwoodSequoiaChoiceSLSTTotal
Held-for-sale at fair value$20,200  $—  $—  $—  $20,200  
Held-for-investment at fair value—  304,632  2,064,388  2,145,111  4,514,131  
Total Residential Loans$20,200  $304,632  $2,064,388  $2,145,111  $4,534,331  
December 31, 2019LegacySequoiaFreddie Mac
(In Thousands)RedwoodSequoiaChoiceSLSTTotal
Held-for-sale at fair value$536,385  $—  $—  $—  $536,385  
Held-for-investment at fair value2,111,897  407,890  2,291,463  2,367,215  7,178,465  
Total Residential Loans$2,648,282  $407,890  $2,291,463  $2,367,215  $7,714,850  
The following table summarizes the classifications and carrying values of the business purpose residential loans owned at Redwood at June 30, 2020 and December 31, 2019.
Table 7.1 – Classifications and Carrying Values of Business Purpose Residential Loans
June 30, 2020Single-Family RentalResidential
(In Thousands)RedwoodCAFLBridgeTotal
Held-for-sale at fair value$379,795  —  $—  $379,795  
Held-for-investment at fair value—  2,615,038  787,367  3,402,405  
Total Business Purpose Residential Loans$379,795  $2,615,038  $787,367  $3,782,200  
December 31, 2019Single-Family RentalResidential
(In Thousands)RedwoodCAFLBridgeTotal
Held-for-sale at fair value$331,565  $—  $—  $331,565  
Held-for-investment at fair value237,620  2,192,552  745,006  3,175,178  
Total Business Purpose Residential Loans$569,185  $2,192,552  $745,006  $3,506,743