Redwood Mortgage Investors Viii 10-Q 15 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2021shares
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
No Trading Symbol Flag	true
Entity Registrant Name	REDWOOD MORTGAGE INVESTORS VIII
Entity Central Index Key	0000889123
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding	0
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-27816
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	94-3158788
Entity Address, Address Line One	177 Bovet Road
Entity Address, Address Line Two	Suite 520
Entity Address, City or Town	San Mateo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94402
City Area Code	650
Local Phone Number	365-5341

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
ASSETS
Cash, in banks	$ 1,255	$ 364
Loan payments in trust	742	116
Secured loans - principal (in Dollars)	70,227	74,080
Advances	125	164
Accrued interest	544	716
Loan balances secured by deeds of trust	70,896	74,960
Allowance for loan losses	(55)	(50)
Loan balances secured by deeds of trust, net	70,841	74,910
Real estate owned (REO), net	8,258	8,805
Debt issuance costs, net	27	67
Receivable from related party (Note 3)	1	2
Other assets	96	57
Total assets	81,220	84,321
LIABILITIES AND PARTNERS' CAPITAL
Accounts payable	135	184
Accrued liabilities	1,052	882
Line of credit	10,000	2,453
Payable to related party (Note 3)	1	0
Mortgages payable	1,453	2,449
Total liabilities	12,641	5,968
Commitments and Contingencies (Note 8)
Partners’ capital
Limited partners’ capital	72,735	82,991
General partners’ deficit	(634)	(655)
Total partners’ capital	72,101	82,336
Receivable from manager (formation loan)	(3,522)	(3,983)
Partners’ capital, net of formation loan	68,579	78,353
Total liabilities and partners’ capital	$ 81,220	$ 84,321

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue
Interest income	$ 1,669	$ 1,574	$ 5,308	$ 5,419
Interest expense
Line of credit	(108)	(15)	(275)	(28)
Mortgages payable	(20)	(26)	(71)	(33)
Total interest expense	(128)	(41)	(346)	(61)
Net interest income	1,541	1,533	4,962	5,358
Late fees	5	41	41	54
Total revenue, net	1,546	1,574	5,003	5,412
Provision for (recovery of) loan losses	5	(8)	4	(134)
Operations expense
Mortgage servicing fees	265	286	825	924
Asset management fees	71	84	223	265
Costs from Redwood Mortgage Corp.	148	185	502	676
Professional services	224	275	817	885
REO, net (Note 5)	83	51	425	23
Other	9	1	40	18
Total operations expense	800	882	2,832	2,791
Net income	741	700	2,167	2,755
Limited partners (99%)	734	693	2,146	2,727
General partners (1%)	$ 7	$ 7	$ 21	$ 28

Consolidated Statements of In_2

Consolidated Statements of Income (Unaudited) (Parenthetical) - Redwood Mortgage Investors VIII [Member]	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Limited partners	99.00%	99.00%	99.00%	99.00%
General partners	1.00%	1.00%	1.00%	1.00%

Consolidated Statements of Chan

Consolidated Statements of Changes in Partners' Capital (Unaudited) - USD ($) $ in Thousands	Total	Capital Subject to Withdrawals Net [Member]Limited Partner [Member]	Partners Capital (Deficit) [Member]General Partner [Member]	Capital Units [Member]
Beginning balance at Dec. 31, 2019		$ 98,770	$ (689)	$ 98,081
Net income	$ 2,755	2,727	28	2,755
Distributions		(1,400)		(1,400)
Withdrawals		(13,494)		(13,494)
Ending balance at Sep. 30, 2020		86,603	(661)	85,942
Beginning balance at Jun. 30, 2020		90,537	(668)	89,869
Net income		693	7	700
Distributions		(457)		(457)
Withdrawals		(4,170)		(4,170)
Ending balance at Sep. 30, 2020		86,603	(661)	85,942
Beginning balance at Dec. 31, 2020	78,353	82,991	(655)	82,336
Net income	2,167	2,146	21	2,167
Distributions		(1,156)		(1,156)
Withdrawals		(11,246)		(11,246)
Ending balance at Sep. 30, 2021	68,579	72,735	(634)	72,101
Beginning balance at Jun. 30, 2021		76,087	(641)	75,446
Net income		734	7	741
Distributions		(383)		(383)
Withdrawals		(3,703)		(3,703)
Ending balance at Sep. 30, 2021	$ 68,579	$ 72,735	$ (634)	$ 72,101

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Interest income received	$ 5,480	$ 4,879
Interest expense	(265)	0
Late fees and other loan income	105	54
Operations expense	(2,457)	(2,514)
Total cash provided by operating activities	2,863	2,419
Investing activities
Loans funded	(21,111)	(3,775)
Principal collected	19,449	7,441
Loan transferred from related mortgage fund	(1,371)	0
Loans transferred to related mortgage fund	5,711	2,297
Loans sold to non-affiliate	485	0
Advances received from (made on) loans	39	(62)
Recovery of loan losses	0	134
Total - Loans	3,202	6,035
REO - sales proceeds, net	216	186
Total cash provided by investing activities	3,418	6,221
Partners’ capital
Partner withdrawals, net of early withdrawal penalties	(11,126)	(13,326)
Partner distributions	(1,156)	(1,400)
RMC payments - formation loan	341	0
Cash distributions to partners, net	(11,941)	(14,726)
Promissory note received from related party	0	850
Mortgages repaid	(996)	0
Advances	16,847	1,515
Repayments	(9,300)	0
Debt issuance costs	0	(108)
Cash provided by line of credit	7,547	1,407
Total cash (used in) financing activities	(5,390)	(12,469)
Net increase (decrease) in cash	891	(3,829)
Cash, beginning of period	364	4,142
Cash, end of period	1,255	313
Net income	2,167	2,755
Adjustments to reconcile net income to net cash provided by operating activities
Provision for loan losses	5	(134)
Amortization of debt issuance costs	40	27
REO – gain on disposal	(79)	(68)
REO – impairment	294	0
Change in operating assets and liabilities
Loan payments in trust	64
Accrued interest	172	(420)
Prepaid interest	0	(121)
Receivable from related party	1	0
Other assets	(39)	0
Accounts payable and accrued liabilities	237	303
Payable to related party	1	77
Total cash provided by operating activities	2,863	2,419
Supplemental disclosures of cash flow information - REO
Real estate (REO) acquired by foreclosure		5,787
Mortgages payable (REO acquired by foreclosure)	0	(2,449)
Mortgage payable interest, property taxes, and other liabilities assumed at foreclosure	0	(175)
Settlement of loan and interest receivable net of liabilities assumed at foreclosure		$ (3,163)

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement Of Cash Flows [Abstract]
Loans transferred to held for sale	$ 0	$ 2,331,000
Non cash financing activity in early withdrawal penalties	$ 120,000	$ 168,000

Organization and General

Organization and General	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Organization and General	NOTE 1 – ORGANIZATION AND GENERAL Redwood Mortgage Investors VIII, a California Limited Partnership (“RMI VIII” or “the partnership”), was formed in 1993 to engage in business as a mortgage lender and investor by making and holding-for-investment mortgage loans secured by California real estate, primarily by first and second deeds of trust. The partnership is externally managed by Redwood Mortgage Corp. (“RMC” or “the manager”). The general partners are RMC and Michael R. Burwell (Burwell), the President, Secretary and Treasurer of RMC and its principal shareholder. RMC provides the personnel and services necessary to conduct the business as RMI VIII has no employees of its own. The general partners are entitled to one percent ( 1 %) of profits or loss of the partnership. The mortgage loans the partnership funds and/or invests in, are arranged and generally are serviced by RMC. In the opinion of management of RMC, the accompanying unaudited consolidated financial statements contain all adjustments, consisting of normal, recurring adjustments, necessary to present fairly the consolidated financial information included therein. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the partnership’s Form 10-K for the year ended December 31, 2020 filed with the U.S. Securities and Exchange Commission (SEC). The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the operating results to be expected for the full year. The rights, duties, and powers of the limited partners and general partners of the partnership are governed by the Limited Partnership Agreement (“Partnership Agreement”). Limited partners representing a majority of the outstanding units may, without the consent of the general partners, vote to: (i) dissolve the partnership; (ii) amend the Partnership Agreement subject to certain limitations; (iii) approve or disapprove the sale of all or substantially all of the assets of the partnership; and (iv) remove or replace one or all of the general partners. A majority in interest of partnership units is required to elect a new general partner to continue the partnership business after a general partner ceases to be a general partner due to its withdrawal. The following is a summary of certain provisions of the Partnership Agreement and is qualified in its entirety by the terms of the Partnership Agreement itself. Limited partners should refer to the Partnership Agreement for complete disclosure of its provisions. The manager is responsible for managing the business and affairs of RMI VIII, subject to the voting rights of the partners on specified matters. The manager acting alone has the power and authority to act for and bind the partnership. RMC is entitled to fees and reimbursements of qualifying costs as specified in the Partnership Agreement. The partnership’s primary investment objectives are to:  yield a high rate of return from mortgage lending, after the payment of certain fees and expenses to the general partners and their related mortgage funds;  preserve and protect the partnership’s capital Net income (losses) are allocated among the limited partners according to their respective capital accounts after one percent (1%) of the net income (losses) are allocated to the general partners. The monthly results are subject to subsequent adjustment as a result of quarterly and year-end accounting and reporting. Investors should not expect the partnership to provide tax benefits of the type commonly associated with limited partnership tax shelter investments. Federal and state income taxes are the obligation of the partners, other than the annual California franchise tax and the California LLC cash receipts taxes paid by the partnership’s subsidiaries. The partnership’s net income, cash available for distribution, and net-distribution rate fluctuates depending on:  loan origination volume and the balance of capital available to lend;  the current and future interest rates negotiated with borrowers;  line of credit advances, repayments and the interest rate thereon;  loan sales to unaffiliated third parties, and any gains received thereon;  the amount of fees and cost reimbursements to RMC;  the timing and amount of other operation expense; and  the timing and amount of payments from RMC on the formation loan. The ongoing sources of funds for loans are the proceeds (net of withdrawals from limited partners’ capital accounts and operation expense) from:  loan payoffs;  borrowers’ monthly principal and interest payments;  line of credit advances;  loan sales to unaffiliated third parties;  REO sales;  payments from RMC on the outstanding balance of the formation loan; and  earnings retained (i.e., not distributed) in partners’ capital accounts. The partnership intends to hold until maturity the loans in which it invests and does not presently intend to invest in mortgage loans primarily for the purpose of reselling such loans in the ordinary course of business; however, the partnership may sell mortgage loans (or fractional interests therein) when the manager determines that it appears to be advantageous for the partnership to do so, based upon then current interest rates, the length of time that the loan has been held by the partnership, the partnership’s credit risk and concentration risk and the overall investment objectives of the partnership. Loans sold to third parties may be sold for par, at a premium or, in the case of non-performing or under performing loans, at a discount. Partnership loans may be sold to third parties or to the manager or its related mortgage funds; however, any loan sold to the manager or a related mortgage fund thereof will be sold for a purchase price equal to the greater of (i) the par value of the loan or (ii) the fair market value of the loan. The manager will not receive commissions or broker fees with respect to loan sales conducted for the partnership; however, selling loans will increase partnership capital available for investing in new loans for which the manager will earn brokerage fees and other forms of compensation. COVID-19 Given the ongoing and dynamic nature of the impacts on peoples’ lives, the healthcare system and its resources, and the economy and real estate markets since the World Health Organization declared the COVID-19 outbreak a pandemic, it is not possible to predict or estimate the impact - for the remainder of 2021 and the years beyond - of the COVID-19 outbreak on the financial condition, the liquidity or the results of operations of the partnership. While the partnership has not incurred material disruptions to date, the rapid developments and fluidity of COVID-19 may cause the manager to continue to adjust its business operations, lending parameters, and collection practices and processes for past-due loans. The majority of borrowers have continued to make monthly payments and/or negotiated in good faith resulting in extensions on terms consistent with the original loan terms. No loan losses were incurred in the first nine months of 2021 and none were incurred in 2020. During 2020 and to a lesser extent in 2021, as a result of the disruptions caused by the pandemic, the partnership has experienced a manageable increase in requests for loan extensions, payment delinquencies and requests for forbearance agreements from borrowers. Market conditions, regulatory restrictions on the partnership's enforcement rights with respect to loans in default, delays in foreclosure proceedings, including moratoriums in some jurisdictions, and backlogs in the courts has increased the timeline to resolve non-performing and /or maturing loans. Distribution to limited partners At the time of their subscription to the partnership, limited partners elected either to receive monthly, quarterly or annual cash distributions from the partnership, or to compound income in their capital account. If an investor initially elected to receive monthly, quarterly or annual distributions, such election, once made, is irrevocable. If the investor initially elected to compound income in their capital account, in lieu of cash distributions, the investor may, after three (3) years, change the election and receive monthly, quarterly or annual cash distributions. Income allocable to limited partners who elect to compound income in their capital account will be retained by the partnership for making further loans or for other proper partnership purposes and such amounts will be added to such limited partners’ capital accounts. The percentage of limited partners electing distribution of allocated net income, by weighted average to total partners’ capital was approximately 60 % and 62 % at September 30, 2021 and 2020, respectively. To determine the amount of cash to be distributed in any month, the manager relies in part on its forecast of the partnership’s full-year net income, which takes into account the difference between the forecasted net income for the remainder of the year and actual results in the year to date and the requirement to maintain cash to meet the partnership’s obligations. Capital withdrawals There are substantial restrictions on transferability of units of partnership interest, and there is no established public trading and/or secondary market for the units. To provide liquidity to limited partners, the Partnership Agreement provides that limited partners, after the minimum five-year period, may withdraw all or a portion of their capital accounts in 20 quarterly installments or longer, as determined by the general partners in light of partnership cash flow, beginning the last day of the calendar quarter following the quarter in which the notice of withdrawal is given. A limited partner may liquidate all or a part of the limited partner’s capital account in four quarterly installments beginning on the last day of the calendar quarter following the quarter in which the notice of withdrawal is given, subject to a 10 % early withdrawal penalty applicable to any sums withdrawn prior to the time when such sums could have been withdrawn without penalty. There is a limited right of accelerated liquidation for an investor’s heirs upon an investor’s death. The partnership has not established a cash reserve from which to fund withdrawals and, accordingly, the partnership’s capacity to return a limited partner’s capital is subject to the availability of partnership cash. The general partner is under no obligation to sell loans from the portfolio in order to honor withdrawal requests, and the program can be restricted or suspended at any time. Cash flow is considered to be available only after all current partnership expenses have been paid (including compensation to the general partners and related mortgage funds) and adequate provision has been made for the payment of all periodic cash distributions on a pro rata basis which must be paid to limited partners who elected to receive such distributions upon subscription for units. Per the Partnership Agreement, no more than 20 % of the total limited partners’ capital account balances at the beginning of any year may be liquidated during any calendar year. Notwithstanding this 20% limitation, the general partners have the discretion to further limit the percentage of total limited partners’ capital accounts that may be withdrawn in order to comply with the safe harbor provisions of the regulations under Section 7704 of the Internal Revenue Code of 1986, as amended, to avoid the partnership being taxed as a corporation. If notices of withdrawal in excess of these limitations are received by the general partners, the priority of distributions among limited partners is determined as follows: first to those limited partners withdrawing capital accounts according to the 20 quarter or longer installment liquidation period, then to benefit plan investors withdrawing capital accounts after five years over four quarterly installments, then to executors, heirs, and other administrators withdrawing capital accounts upon the death of a limited partner and finally to all other limited partners withdrawing capital accounts. Except as provided above, withdrawal requests will be considered by the general partners in the order received . Term of the partnership The partnership will continue until 2032, unless sooner terminated as provided in the Partnership Agreement.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). The partnership’s consolidated financial statements include the accounts of the partnership, its wholly-owned subsidiaries (consisting of single-member limited liability companies owning a single real property asset). All significant intercompany transactions and balances have been eliminated in consolidation. R eclassifications Certain reclassifications, not affecting previously reported net income or total partners’ capital, have been made to the previously issued consolidated financial statements to conform to the current period presentation. Management estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions about the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities, at the dates of the financial statements and the reported amounts of revenues and expenses during the reported periods. Such estimates relate principally to the determination of the allowance for loan losses, including, when applicable, the valuation of impaired loans (which itself requires determining the fair value of the collateral), and the valuation of real estate owned, at acquisition and subsequently. Actual results could differ materially from these estimates. Fair value estimates GAAP defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. Fair values of assets and liabilities are determined based on the fair value hierarchy established in GAAP. The hierarchy is comprised of three levels of inputs to be used.  Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the partnership has the ability to access at the measurement date. An active market is a market in which transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis.  Level 2 inputs are inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly in active markets and quoted prices for identical assets or liabilities that are not active, and inputs other than quoted prices that are observable or inputs derived from or corroborated by market data.  Level 3 inputs are unobservable inputs for the asset or liability. Unobservable inputs reflect the partnership’s own assumptions about the assumptions market participants would use in pricing the asset or liability (including assumptions about risk). Unobservable inputs are developed based on the best information available in the circumstances and may include the partnership’s own data. The fair value of real property is determined by exercise of judgment based on management’s experience informed by appraisals (by licensed appraisers), brokers’ opinion of values, and publicly available information on in-market transactions. Appraisals of commercial real property generally present three approaches to estimating value: 1) market-comparables or sales approach; 2) cost to replace; and 3) capitalized cash flows or income approach. These approaches may or may not result in a common, single value. The market-comparables approach may yield several different values depending on certain basic assumptions, including the consideration of adjustments made for any attributes specific to the real property. Management has the requisite familiarity with the real estate markets it lends in and of the specific properties lent on to analyze sales-comparables and assess their suitability/applicability. Management is acquainted with market participants – investors, developers, brokers, lenders – that are useful, relevant secondary sources of data and information regarding valuation and valuation variability. These secondary sources may have familiarity with and perspectives on pending transactions, successful strategies to optimize value, and the history and details of specific properties – on and off the market – that enhance the process and analysis that is particularly and principally germane to establishing value in distressed markets and/or property types. Cash in banks Certain of the partnership’s cash balances in banks exceed federally insured limits of $ 250,000 . The bank or banks in which funds are deposited are reviewed periodically for their general credit worthiness/investment grade credit rating. See Note 7 (Line of Credit) for compensating balance arrangements. Loans and interest income Performing loans are carried at amortized cost, which is generally equal to the unpaid principal balance (principal). Management has discretion to pay amounts (advances) to third parties on behalf of borrowers to protect the partnership’s interest in the loan. Advances include, but are not limited to, the payment of interest and principal on a senior lien to prevent foreclosure by the senior lien holder, property taxes, insurance premiums, and attorney fees. Advances generally are stated at the amounts paid out on the borrower’s behalf and any accrued interest on amounts paid out, until repaid by the borrower. For performing loans, interest is accrued daily on the principal plus advances, if any. Non-performing loans (i.e., loans with a payment in arears) less than 180 days delinquent continue to recognize interest income as long as the loan is in the process of collection and is considered to be well-secured. Non-performing loans are placed on non-accrual status if 180 days delinquent or earlier if management determines that the primary source of repayment will come from the foreclosure and subsequent sale of the collateral securing the loan (which usually occurs when a notice of sale is filed) or when the loan is no longer considered well-secured. When a loan is placed on non-accrual status, the accrual of interest is discontinued for accounting purposes only; however, previously recorded interest is not reversed. A loan may return to accrual status when all delinquent interest and principal payments become current in accordance with the terms of the loan agreement. Late fees are recognized in the period received. The partnership may fund a specific loan net of an interest reserve (one to two years ) to insure timely interest payments at the inception of the loan. Any interest reserve is amortized over the period that the amount is prepaid. In the event of an early loan payoff, any unapplied interest reserves would be first applied to any accrued but unpaid interest and then as a reduction of principal. In the normal course of the partnership’s operating activities, performing loans that are maturing or have matured may be renewed at then current market rates of interest and terms for new loans. From time to time, the manager negotiates and enters into loan modifications with borrowers whose loans are delinquent (i.e., non-performing). If a borrower is experiencing financial difficulties and a loan modification were to result in an economic concession to the borrower (i.e., a significant delay or reduction in cash flows compared to the original note), the modification is deemed a troubled debt restructuring (TDR). In March 2020, various federal regulatory agencies issued an interagency statement on loan modifications and reporting for financial institutions working with borrowers affected by the Coronavirus. The interagency statement was effective immediately and impacted accounting for loan modifications. The agencies confirmed with the staff of the Financial Accounting Standards Board (FASB) that short-term modifications made on a good faith basis in response to COVID- 19 to borrowers who were current prior to any relief, are not to be considered TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant. The partnership funds loans with the intent to hold the loans until maturity. From time to time the partnership may sell certain loans when the manager determines it to be in the best interest of the partnership. Loans are classified as held-for-sale once a decision has been made to sell loans and the loans held-for-sale have been identified. Loans classified as held for sale are carried at the lower of cost or fair value. Pursuant to California regulatory requirements borrower payments are deposited into a trust account established by RMC with an independent bank and are presented on the balance sheet as “Loan payments in trust”. Funds are disbursed to the partnership as collected which can range from same day for wire transfers and up to two weeks after deposit for checks. Allowance for loan losses Loans and the related accrued interest and advances (i.e., the loan balance) are analyzed on a periodic basis for ultimate recoverability. Collateral fair values are reviewed quarterly and the protective equity for each loan is computed. As used herein, “protective equity” is the dollar amount by which the net realizable value (i.e., fair value less the cost to sell) of the collateral, net of any senior liens, exceeds the loan balance, where “loan balance” is the sum of the unpaid principal, advances and the recorded interest thereon. If based upon current information and events, it is probable the partnership will be unable to collect all amounts due according to the contractual terms of the loan agreement, then a loan may be designated as impaired. An insignificant delay or insignificant shortfall in the amount of payments does not constitute non-performance with the contractual terms of the original loan agreement if the manager expects to collect the amounts due including interest accrued at the contractual interest rate for the period of delay. In determining the probability that the borrower will not substantially perform according to the terms of the original loan agreement, the manager considers the following:  payment status – if payments are in arrears 90+ days (typically 3 payments past due) loans are designated impaired unless resolution of the delinquency is forthcoming without significant delay;  bankruptcy – if the borrower files bankruptcy, the loan is designated impaired;  notice of sale – if the partnership files a notice of sale, the loan is designated impaired. Payments on loans designated as impaired are applied to late fees, then to the accrued interest, then to advances, and lastly to principal. For loans that are deemed to be collateral dependent for repayment, a provision for loan losses is recorded to adjust the allowance for loan losses (principal and/or recorded interest) in an amount such that the net carrying amount (unpaid principal less the specific allowance) is reduced to the lower of the loan balance or the estimated fair value of the related collateral, net of any costs to sell and net of any senior debt and claims. The partnership charges off uncollectible loans and related receivables directly to the allowance account once it is determined the full amount is not collectible. Any amounts collected after a charge off is deemed a recovery of loan losses. If the loan goes to foreclosure, an updated appraisal is ordered and the recorded investment in the loan is adjusted to the net realizable value of the REO to be acquired. The adjustment is made to the specific reserve in the allowance for loan losses by a charge or a credit to the provision for loan losses. Real estate owned (REO) Real estate owned (REO) is property acquired in full or partial settlement of loan obligations generally through foreclosure and is recorded at acquisition at the property’s net realizable value, which is the fair value less estimated costs to sell, as applicable. The fair value estimates are derived from information available in the real estate markets including similar property, and often require the experience and judgment of third parties such as commercial real estate appraisers and brokers. The estimates figure materially in calculating the value of the property at acquisition, the level of charge to the allowance for loan losses and any subsequent valuation reserves. After acquisition, costs incurred relating to the development and improvement of property are capitalized to the extent they do not cause the recorded value to exceed the net realizable value, whereas costs relating to holding and disposition of the property are expensed as incurred. REO is analyzed periodically for changes in fair values and any subsequent write down is charged to operations expense. Any recovery in the fair value subsequent to such a write down is recorded, not to exceed the value recorded at acquisition. Recognition of gains on the sale of real estate is dependent upon the transaction meeting certain criteria related to the nature of the property and the terms of the sale including potential seller financing. Debt issuance costs Debt issuance costs are the fees and commissions incurred in the course of obtaining a line of credit for services from banks, law firms and other professionals and are amortized on a straight-line basis, which approximates the interest method, as interest expense over the term of the line of credit. R ecently issued accounting pronouncements - Accounting and Financial Reporting for Expected Credit Losses The FASB issued an Accounting Standards Update (“ASU”) that significantly changes how entities will account for credit losses for most financial assets that are not measured at fair value through net income. The new standard will supersede currently in effect guidance and applies to all entities. Entities will be required to use a current expected credit loss (“CECL”) model to estimate credit impairment. This estimate will be forward-looking, meaning management will be required to use not only historical trends and current conditions, but must also consider forecasts about future economic conditions to determine the expected credit loss over the remaining life of an instrument. This will be a significant change from the current incurred credit loss model and generally may result in allowances being recognized in earlier periods than under the current credit loss model. The ASU is effective for smaller reporting companies for interim and annual reporting periods in 2023. RMI VIII invests in real estate secured loans made with the expectation that the possibility of credit losses is remote as a result of substantial protective equity provided by the underlying collateral. The real estate secured programs and low loan-to-value ratios have caused the partnership to expect that the adoption of the CECL model from the incurred loss models presently in use as to credit loss recognition will likely not materially impact the reported results of operations or financial position. However, the impact, if any, upon adoption will be dependent upon the facts and circumstances relating to the partnership’s loans at that date. - Reference Rate Reform In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, provides temporary optional expedients for various agreements and contracts that utilize the London Interbank Offered Rate (LIBOR) as the benchmark reference rate. The relief generally applies to eligible modifications of contractual terms that change (or have the potential to change) the amount or timing of contractual cash flows related to replacement of a reference rate. The relief allows such modifications to be accounted for as continuations of existing contracts without additional analysis. As the guidance in ASU 2020-04 is intended to assist entities during the global market-wide reference rate transition period, it is in effect from March 12, 2020 through December 31, 2022. The partnership is currently evaluating the impact of the potential discontinuance of LIBOR in relation to the partnership’s line of credit and has not yet adopted the optional relief.

General Partners and Other Rela

General Partners and Other Related Parties	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
General Partners and Other Related Parties	NOTE 3 – GENERAL PARTNERS AND OTHER RELATED PARTIES The Partnership Agreement provides for fees as compensation to the manager and for reimbursement of qualifying expenses, as detailed below. Mortgage servicing fees The manager acting as servicing agent with respect to all loans is entitled to receive a servicing fee of up to 1.5 % annually of the unpaid principal balance of the loan portfolio. The mortgage servicing fees are accrued monthly on all loans. Remittance to RMC is made monthly unless the loan has been assigned a specific loss reserve, at which point remittance is deferred until the specific loss reserve is no longer required, or the property has been acquired by the partnership. Asset management fees The general partners are entitled to monthly fees for managing the partnership’s loan portfolio and operations of up to 1/32 of 1% of the “net asset value” (3/8 of 1% annually). Costs from Redwood Mortgage Corp . The manager is entitled to request reimbursement for operations expense incurred on behalf of RMI VIII, including without limitation, RMC’s personnel and non-personnel costs incurred for qualifying business activities, including investor services, accounting, tax and data processing, postage and out-of-pocket general and administration expenses. Qualifying personnel/compensation costs and consulting fees are tracked by business activity, and then costs of qualifying activities are allocated to RMI VIII pro-rata based on the percentage of RMI VIII’s limited partners’ capital to the total capital of all related mortgage funds managed by RMC. Certain other non-personnel, qualifying costs such as postage and out-of-pocket general and administrative expenses can be tracked by RMC as specifically attributable to RMI VIII; other non-personnel, qualifying costs (e.g., RMC’s accounting and audit fees, legal fees and expenses, occupancy, and insurance premiums) are allocated pro-rata based on the percentage of RMI’s members’ capital to total capital of the related mortgage funds managed by RMC. Commissions and fees are paid by the borrowers to RMC - Brokerage commissions, loan originations For fees in connection with the review, selection, evaluation and negotiation of loans (including extensions), the general partners may collect loan brokerage commissions (points) limited to an amount not to exceed 4 % of the total partnership assets per year. The loan brokerage commissions are paid by the borrowers to RMC, and thus are not an expense of the partnership. Loan brokerage commissions paid by the borrowers to RMC approximated $ 87,000 and $ 218,000 for the three months ended September 30, 2021 and 2020 , respectively and $ 350,000 and $ 295,000 for the nine months ended September 30, 2021 and 2020, respectively. - Other fees RMC receives fees for processing, notary, document preparation, credit investigation, reconveyance and other mortgage related services. The amounts received are customary for comparable services in the geographical area where the property securing the loan is located, payable solely by the borrower and not by the partnership. Formation loan Commissions for sales of limited partnership units paid to broker-dealers (“B/D sales commissions”) were paid by RMC and were not paid directly by the partnership out of offering proceeds. Instead, the partnership advanced to RMC amounts sufficient to pay the B/D sales commissions and premiums paid to partners in connection with unsolicited orders up to 7 % of offering proceeds. The receivable arising from the advances is unsecured and non-interest bearing and is referred to as the “formation loan.” Since its inception, the partnership’s advances totaled $ 22,567,000 , of which $ 3,522,000 remains outstanding at September 30, 2021. RMC is repaying the formation loan principally from loan brokerage commissions earned on loans, early withdrawal penalties on partner withdrawals and other fees paid by the partnership. Since RMC will use the proceeds from loan brokerage commissions on loans to repay the formation loans and, if both or either one of the initial general partners is removed as a general partner by the vote thereafter designated, and if such successor or additional general partner(s) begins using any other loan brokerage firm for the placement of loans, RMC will be immediately released from any further obligation under the formation loans (except for a proportionate share of the principal installment due at the end of that year). In addition, if both of the general partners are removed, no successor general partners are elected, the partnership is liquidated and RMC is no longer receiving any payments for services rendered, the debt on the formation loans shall be forgiven and RMC will be immediately released from any further obligations under the formation loans. The formation loan transactions for the nine months ended September 30, 2021 and 2020 are presented in the following table ($ in thousands). 2021 2020 Balance, January 1 $ 3,983 $ 4,292 Payments received from RMC ( 341 ) — Early withdrawal penalties applied ( 120 ) ( 168 ) Balance, September 30 $ 3,522 $ 4,124 RMC is repaying the formation loan such that the formation loan is paid by December 31, 2026. Beginning December 31, 2020, RMC has been making quarterly payments of principal, without interest, of approximately $ 162,500 , less early withdrawal penalties and plans to continue with quarterly payments until – in the opinion of the manager - the market uncertainties resulting from the COVID-19 pandemic are substantially resolved and loan brokerage commissions earned by the manager on new loan originations return to pre-pandemic levels. Annual payments of $ 650,000 are expected to resume by December 2022. Limited partner capital - withdrawals Withdrawals of limited partners’ capital for the three and nine months ended September 30, 2021 and 2020 are presented in the following table ($ in thousands). Three months ended Nine months ended Withdrawals 2021 2020 2021 2020 Without penalty $ 3,307 $ 3,767 $ 10,044 $ 11,813 With penalty 396 403 1,202 1,681 Total $ 3,703 $ 4,170 $ 11,246 $ 13,494 Scheduled, at September 30, $ 27,021 $ 33,865 $ 27,021 $ 33,865 Scheduled withdrawals of limited partners’ capital as of September 30, 2021 are presented in the following table ($ in thousands). 2021 $ 3,393 2022 10,387 2023 6,916 2024 4,141 2025 1,703 Thereafter 481 Total $ 27,021 Scheduled withdrawals of limited partners’ capital of approximately $ 1,066,000 , are subject to early withdrawal penalties as the limited partners elected the accelerated payout option as permitted in the Partnership Agreement. Other related party transactions - Payable to related parties From time to time, in the normal course of business operations, the partnership may have payables to and/or receivables from related parties. At September 30, 2021 , the partnership had a payable to related parties of $ 1,356 primarily due to the manager, and a receivable from related parties of $ 1,050 from a related mortgage fund. At December 31, 2020 the payable to related parties consisted of accounts payable and cost reimbursements to the manager and related mortgage funds of $ 3,388 , which was offset by a receivable of $ 5,101 due from the manager and related mortgage funds. The net amount due from the manager and related mortgage funds as of December 31, 2020 totaled $ 1,713 . The receivable was received from the manager and the payable was paid to the manager in March 2021. - Loan transactions with related parties In the ordinary course of business, performing loans may be transferred by executed assignment, in-part or in-full, between the RMC managed mortgage funds at par, which approximates fair value. In the nine months ended September 30, 2021 , a related mortgage fund transferred to RMI VIII two performing loans with aggregate principal of approximately $ 1,371,000 in-full at par value, which approximates fair value. RMI VIII paid cash for the loans and the related mortgage fund has no continuing obligation or involvement with the loans. There were no loans transferred from related mortgage funds in the nine months ended September 30, 2020. In the nine months ended September 30, 2021 RMI VIII transferred to a related mortgage fund seven performing loans with aggregate principal of approximately $ 5,711,000 in-full at par value, which approximates fair value. In the nine months ended September 30, 2020 RMI VIII transferred to a related mortgage fund one performing loan with principal of approximately $ 2,297,000 in-full at par value, which approximates fair value. The related mortgage fund paid cash for the loans and RMI VIII has no continuing involvement with the loans.

Loans

Loans	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Loans	NOTE 4 – LOANS Loans generally are funded at a fixed interest rate with a loan term of up to five years . Loans acquired are generally done so within the first six months of origination and are purchased at par value, which approximates fair value. See Note 3 (General Partners and Other Related Parties) for a description of loans transferred by executed assignments between the related mortgage funds. As of September 30, 2021, 25 loans with principal of $ 61,576,103 (representing 88 % of the aggregate principal of the partnership’s loan portfolio) have a term of five years or less. The remaining loans have terms longer than five years . Substantially all loans are written without a prepayment penalty provision. As of September 30, 2021, 16 loans with principal of $ 15,821,625 (representing 23 % of the aggregate principal of the partnership’s loan portfolio) provide for monthly payments of principal and interest, typically calculated on a 30 -year amortization, with the remaining principal due at maturity. The remaining loans provide for monthly payments of interest only, with the principal due in full at maturity. Secured loans unpaid principal balance (principal) Secured loan transactions for the three and nine months ended September 30, 2021, are summarized in the following table ($ in thousands). Three months ended Nine months ended Principal, beginning of period $ 72,548 $ 74,080 Loans funded 4,885 20,421 Principal collected ( 6,167 ) ( 19,449 ) Loan transferred from related mortgage fund — 1,371 Loans transferred to related mortgage fund ( 1,039 ) ( 5,711 ) Loans sold to non-affiliate — ( 485 ) Principal, September 30, 2021 $ 70,227 $ 70,227 During the nine months ended September 30, 2021, the partnership renewed five maturing (or matured) loans with aggregated principal of approximately $ 23,035,000 , which are not included in the activity shown in the table above. The loans were current and deemed well collateralized (i.e., the LTV for the collateral was within lending guidelines) at the time they were extended. The partnership did no t renew any loans during the three months ended September 30, 2021. The partnership funds loans with the intent to hold the loans until maturity, although from time to time the partnership may sell certain loans when the manager determines it to be in the best interest of the partnership. In January 2021, a loan with principal of approximately $ 485,000 , was sold to an unaffiliated third party, for an amount that approximated the loan balance at the time of sale. Pursuant to California regulatory requirements borrower payments are deposited into a trust account established by RMC with an independent bank and are presented on the balance sheet as “Loan payments in trust”. Funds are disbursed to the partnership as collected which can range from same day for wire transfers and up to two weeks after deposit for checks. At September 30, 2021 the loan payments in trust balance included $ 690,000 related to a loan funded on the last day of the quarter, which did not record until October 1, 2021, and is not included in the activity shown in the table above. The remaining loan payments in trust of approximately $ 52,000 at September 30, 2021, were disbursed to the partnership’s account by October 18, 2021. Loan payments in trust at December 31, 2020 were distributed to the partnership’s account by January 15, 2021. Loan characteristics Secured loans had the characteristics presented in the following table ($ in thousands). September 30, December 31, 2021 2020 Number of secured loans 33 33 Secured loans – principal $ 70,227 $ 74,080 Secured loans – lowest interest rate (fixed) 7.0 % 5.0 % Secured loans – highest interest rate (fixed) 10.8 % 10.8 % Average secured loan – principal $ 2,128 $ 2,245 Average principal as percent of total principal 3.0 % 3.0 % Average principal as percent of partners’ capital, net of formation loan 3.1 % 2.9 % Average principal as percent of total assets 2.6 % 2.7 % Largest secured loan – principal $ 10,200 $ 10,200 Largest principal as percent of total principal 14.5 % 13.8 % Largest principal as percent of partners’ capital, net of formation loan 14.9 % 13.0 % Largest principal as percent of total assets 12.6 % 12.1 % Smallest secured loan – principal $ 57 $ 46 Smallest principal as percent of total principal 0.1 % 0.1 % Smallest principal as percent of partners’ capital, net of formation loan 0.1 % 0.1 % Smallest principal as percent of total assets 0.1 % 0.1 % Number of California counties where security is located 12 14 Largest percentage of principal in one California county 38.6 % 40.0 % As of September 30, 2021, the partnership’s largest loan, with principal of approximately $ 10,200,000 is secured by an industrial building in the City and County of San Francisco, bears an interest rate of 9.5 % and matures on March 1, 2022 . As of September 30, 2021 , the partnership had no construction or rehabilitation loans outstanding and had no commitments to lend, other than the loan funded to the trust on the last day of the quarter for $ 690,000 , which did not record until October 1, 2021. Lien position At funding, secured loans had the lien positions presented in the following table ($ in thousands). September 30, 2021 December 31, 2020 Loans Principal Percent Loans Principal Percent First trust deeds 26 $ 61,164 87 % 24 $ 64,286 87 % Second trust deeds 7 9,063 13 9 9,794 13 Total principal, secured loans 33 70,227 100 % 33 74,080 100 % Liens due other lenders at loan closing 15,668 15,759 Total debt $ 85,895 $ 89,839 Appraised property value at loan closing $ 160,410 $ 180,041 Percent of total debt to appraised values (LTV) (1) 56.6 % 53.8 % (1) Based on appraised values and liens due other lenders at loan closing. The weighted-average loan-to-value (LTV) computation above does not take into account subsequent increases or decreases in property values following the loan closing, nor does it include decreases or increases on senior liens to other lenders. Property type Secured loans summarized by property type are presented in the following table ($ in thousands). September 30, 2021 December 31, 2020 Loans Principal Percent Loans Principal Percent Single family (2) 16 $ 13,492 19 % 19 $ 16,598 22 % Multi-family 2 8,200 12 1 6,300 9 Commercial 15 48,535 69 12 49,682 67 Land — — — 1 1,500 2 Total principal, secured loans 33 $ 70,227 100 % 33 $ 74,080 100 % (2) Single family property type at September 30, 2021, consists of 4 loans with aggregate principal of approximately $ 1,793,000 that are owner occupied and 12 loans with aggregate principal of approximately $ 11,699,000 that are non-owner occupied. At December 31, 2020, single family property type consisted of 8 loans with aggregate principal of $ 3,344,000 that are owner occupied and 11 loans with aggregate principal of $ 13,254,000 that are non-owner occupied. Single family includes 1-4 unit residential buildings, condominium units, townhouses and condominium complexes. Distribution by California counties The distribution of secured loans within California by counties is presented in the following table ($ in thousands). September 30, 2021 December 31, 2020 Principal Percent Principal Percent San Francisco Bay Area (3) San Francisco $ 27,121 38.6 % $ 29,659 40.0 % San Mateo 8,610 12.3 16,756 22.6 Alameda 6,240 8.9 823 1.1 Santa Clara 4,600 6.6 4,600 6.2 Marin 1,656 2.3 917 1.2 Sonoma 578 0.8 — 0.0 Contra Costa — — 302 0.4 48,805 69.5 53,057 71.5 Other Northern California Mariposa 57 0.1 46 0.1 Placer — 0.0 1,500 2.0 Santa Cruz — 0.0 485 0.7 Amador — 0.0 701 0.9 57 0.1 2,732 3.7 Northern California Total 48,862 69.6 55,789 75.2 Los Angeles & Coastal Los Angeles 11,269 16.0 10,199 13.8 Orange 2,194 3.1 642 0.9 Santa Barbara 2,062 2.9 2,070 2.8 Riverside 460 0.7 — 0.0 15,985 22.7 12,911 17.5 Other Southern California San Bernardino 5,380 7.7 5,380 7.3 5,380 7.7 5,380 7.3 Southern California Total 21,365 30.4 18,291 24.8 Total principal, secured loans $ 70,227 100.0 % $ 74,080 100.0 % (3) Includes the Silicon Valley Scheduled maturities Secured loans scheduled to mature as of September 30, 2021 are presented in the following table ($ in thousands). Loans Principal Percent 2021 2 $ 1,000 1 % 2022 20 54,628 78 2023 4 3,713 5 2024 1 590 1 2025 — — — Thereafter 2 1,312 2 Total scheduled maturities 29 61,243 87 Matured at September 30, 2021 4 8,984 13 Total principal, secured loans 33 $ 70,227 100 % In October 2021, one loan with principal of approximately $ 7,994,000 included as matured at September 30, 2021 in the table above was brought current and extended with a new maturity date of March 2022 . Scheduled maturities are presented based on the most recent in-effect agreement with the borrower, including forbearance agreements. As a result, matured loans at September 30, 2021, for the scheduled maturities table may differ from the same captions in the tables of delinquencies and payments in arrears that are based on the loan terms and do not consider forbearance agreements. For matured loans, the partnership may continue to accept payments while pursuing collection of principal or while negotiating an extension of the loan’s maturity date. It is the partnership’s experience that the timing of future cash receipts from secured loans will differ from scheduled maturities. Loans may be repaid or renewed before, at or after the contractual maturity date. Delinquency/Non-performing secured loans Secured loans summarized by payment-delinquency status are presented in the following table ($ in thousands). September 30, 2021 December 31, 2020 Loans Principal Loans Principal Current 27 $ 53,800 30 $ 58,941 Past Due 30-89 days 2 10,057 — — 90-179 days — — — — 180 or more days 4 6,370 3 15,139 Total past due 6 16,427 3 15,139 Total principal, secured loans 33 $ 70,227 33 $ 74,080 In October 2021, one loan with principal of approximately $ 7,994,000 , included as 30 days delinquent in the table above was brought current and extended with a new maturity date of March 2022 . At September 30, 2021 there was one forbearance agreement in effect with principal of $ 5,380,000 , which is included in the table above as 180 or more days past due. At December 31, 2020 there were two forbearance agreements in effect with aggregate principal of $ 10,735,000 , both of which are included in the table above as 180 or more days past due. No loan forbearance agreements or payment modifications were made during the nine months ended September 30, 2021, and none were in effect at December 31, 2020, that would be deemed troubled debt restructurings. Non-performing secured loans at September 30, 2021, and December 31, 2020, had principal payments in arrears totaling $ 14,364,000 ( 6 loans) and $ 15,139,000 ( 3 loans), respectively and interest payments in arrears totaling approximately $ 300,000 and $ 849,000 , respectively. Payments in arrears for non-performing secured loans (i.e., monthly interest and principal payments past due 30 or more days) at September 30, 2021 and December 31, 2020, are presented in the following tables. Loans Principal Interest (4) At September 30, 2021 Past Monthly Past Monthly Past Monthly Total Past due 30-89 days (1-3 payments) (5) 1 1 $ 7,994 $ — $ 56 $ 16 $ 8,066 90-179 days (4-6 payments) — — — — — — — 180 or more days (more than 6 (6) 4 — 6,370 — 228 — 6,598 Total past due 5 1 $ 14,364 $ — $ 284 $ 16 $ 14,664 (4) Interest includes foregone interest of approximately $ 228,000 on non-accrual loans past maturity. Interest for September 2021 is due on October 1 , 2021 and is not included in the payments in arrears at September 30, 2021 . (5) One loan, with principal of approximately $ 7,994,000 and interest of approximately $ 56,000 , included in past maturity payments (principal and interest) 30-89 days, was brought current and extended in October 2021 . The loans new maturity date is March 2022 . (6) One loan, with principal of approximately $ 5,380,000 , included in past maturity payments (principal and interest) 180 or more days, had forbearance agreements in place at September 30, 2021 . Loans Principal Interest (7) At December 31, 2020 Past Monthly Past Monthly Past Monthly Total Past due 30-89 days (1-3 payments) — — $ — $ — $ — $ — $ — 90-179 days (4-6 payments) — — — — — — — 180 or more days (more than (8) 3 — 15,139 — 849 — 15,988 Total past due 3 — $ 15,139 $ — $ 849 $ — $ 15,988 (7) Interest includes foregone interest of approximately $ 512,000 on non-accrual loans past maturity. Interest for December 2020 was due on January 1, 2021 and is not included in the payments in arrears at December 31, 2020. (8) Two loans, with an aggregate principal of approximately $ 10,735,000 , included in past maturity payments (principal and interest) 180 or more days, had forbearance agreements in place at December 31, 2020. Delinquency/Loans in non-accrual status Secured loans in non-accrual status are summarized in the following table ($ in thousands). September 30, 2021 December 31, 2020 Number of loans 4 3 Principal $ 6,370 $ 15,139 Advances 109 24 Accrued interest (9) 53 368 Total recorded investment $ 6,532 $ 15,531 Foregone interest $ 262 $ 582 (9) Accrued interest in the table above is the amount of interest accrued prior to the loan being placed on non-accrual status, net of any payments received while in non-accrual status. Non-performing loans are placed on non-accrual status if 180 days delinquent or earlier if management determines that the primary source of repayment will come from the foreclosure and subsequent sale of the collateral securing the loan (which usually occurs when a notice of sale is filed) or when the loan is no longer considered well-secured. When a loan is placed on non-accrual status, the accrual of interest is discontinued for accounting purposes only (i.e., foregone interest in the table above); however, previously recorded interest is not reversed. At September 30, 2021 and December 31, 2020, there were no loans 90 or more days past due and not in non-accrual status. Provision/allowance for loan losses and impaired loans Generally, the partnership has not recorded an allowance for loan losses as all loans have protective equity such that collection is deemed probable for all recorded amounts due on the loan. From time to time, the manager may deem it in the best interest of the partnership to agree to concessions to borrowers to facilitate a sale of collateral or refinance transactions primarily for secured loans in second lien position. Activity in the allowance for loan losses for the nine months ended September 30, 2021 and 2020 is presented in the following table ($ in thousands). 2021 2020 Balance, January 1 $ 50 $ 50 Provision for loan loss 5 134 Recovery for loan losses — ( 134 ) Balance, September 30 $ 55 $ 50 Loans designated impaired and any associated allowance for loan losses is presented in the following table ($ in thousands). September 30, 2021 December 31, 2020 Number of loans 4 3 Principal $ 6,370 $ 15,139 Recorded investment (10) 6,532 15,531 Impaired loans without allowance 6,532 15,531 Impaired loans with allowance — — Allowance for loan losses, impaired loans — — Weighted average LTV at origination 51.4 % 54.0 % (10) Recorded investment is the sum of principal, advances, and accrued interest for financial reporting purposes. Loans designated impaired had an average recorded investment balance, interest income recognized, and interest income received in cash for the nine months ended September 30, 2021 and the year ended December 31, 2020 as presented in the following table ($ in thousands). September 30, 2021 December 31, 2020 Average recorded investment $ 11,032 $ 14,231 Interest income recognized 64 1,271 Interest income received in cash 374 502

Real Estate Owned (REO) and Mor

Real Estate Owned (REO) and Mortgages Payable	9 Months Ended
	Sep. 30, 2021
Real Estate [Abstract]
Real Estate Owned (REO) and Mortgages Payable	NOTE 5 – REAL ESTATE OWNED (REO) AND MORTGAGES PAYABLE REO transactions and valuation adjustments for the three and nine months ended September 30, 2021 and 2020 are summarized in the following tables ($ in thousands). Three months ended Nine months ended REO Valuation Allowance REO, net REO Valuation Allowance REO, net Balance, beginning of period $ 12,044 $ ( 3,533 ) $ 8,511 $ 12,044 $ ( 3,239 ) $ 8,805 Valuation allowance adjustment — — — — ( 294 ) ( 294 ) Dispositions ( 1,586 ) 1,333 ( 253 ) ( 1,586 ) 1,333 ( 253 ) Balance, September 30, 2021 $ 10,458 $ ( 2,200 ) $ 8,258 $ 10,458 $ ( 2,200 ) $ 8,258 Three months ended Nine months ended REO Valuation Allowance REO, net REO Valuation Allowance REO, net Balance, beginning of period $ 12,161 $ ( 3,239 ) $ 8,922 $ 6,491 $ ( 3,239 ) $ 3,252 Acquisitions from foreclosure — — — 5,787 — 5,787 Dispositions — — — ( 117 ) — ( 117 ) Balance, September 30, 2020 $ 12,161 $ ( 3,239 ) $ 8,922 $ 12,161 $ ( 3,239 ) $ 8,922 The fair value of the REO is adjusted on a nonrecurring basis. When it is determined that the fair value of REO is less than the original cost basis in the property based on management’s experience informed by appraisals (by licensed appraisers), brokers’ opinion of values and publicly available information on in-market transactions (Level 3 inputs) or if an offer deemed likely to result in a sale is received a write down is charged to operations expense. Any recovery in the fair value subsequent to such a write down is recorded, not to exceed the value recorded at acquisition. The following transactions occurred during the nine months ended September 30, 2021.  In July, the partnership sold - in Fresno County, a partially completed home subdivision. The net realized amount approximated the adjusted carrying value taking into account previously recorded valuation allowances.  In June, the valuation allowance on REO properties was increased by $ 294,000 based on pending sales data on transactions expected in the second half of 2021. The following transactions occurred during the nine months ended September 30, 2020.  In June, the partnership acquired – in Los Angeles County (Hollywood Hills) – by two foreclosure sales, two single-family residences on separate adjoining parcels with a shared driveway. The larger parcel and residence are 0.31 acres and approximately 5,200 square feet, respectively. The other parcel and residence are 0.12 acres and approximately 3,100 square feet, respectively. The aggregate estimated net realizable value of the two properties based on recent appraisals was $ 5,787,000 (see below for mortgages payable and other liabilities assumed at foreclosure).  In March, the partnership sold – in San Francisco County – one of two remaining units in a condominium complex for approximately $ 186,000 , with a gain of approximately $ 68,000 . A gain on sale of REO was recognized in June 2021, related to a seller carryback on an REO property sold in 2016. The borrower paid the seller carryback note in-full in June 2021, and the previously deferred gain of $ 79,000 was recognized. REO at September 30, 2021 was comprised of four properties with a carrying value of approximately $ 8,258,000 . REO is recorded at fair value less costs to sell at acquisition, and subsequently adjusted to the lower of the recorded cost or fair value less cost to sell based on appraisals and analysis by RMC:  In Los Angeles County (Hollywood Hills) two single-family residences on separate adjoining parcels.  In San Francisco County, 1 residential unit in a condominium complex. This unit is under contract to sell, with closing expected in the fourth quarter of 2021.  In Stanislaus County, approximately 14 acres of undeveloped land zoned commercial.  In San Francisco County, a real estate interest comprised of a condominium unit composed of storage lockers and signage rights for the exterior façade of the building. The two Hollywood Hills single-family residences were acquired in June 2020 by foreclosure sales subject to two first mortgages, with aggregate principal outstanding of approximately $ 2,449,000 , and mortgage interest, property taxes, and other liabilities totaling approximately $ 175,000 . The mortgages were 201 and 242 days delinquent at the date of foreclosure sale, with accrued interest in arrears of approximately $ 33,000 and $ 40,000 , and delinquent property taxes of $ 23,000 and $ 47,000 (advanced by the first mortgage lender), respectively. Interest in arrears and delinquent property taxes at acquisition are included in accounts payable on the consolidated balance sheet. In August 2021, the partnership paid in-full the outstanding principal balance of $ 996,000 due on one of the mortgages, as well as the outstanding mortgage interest, late fees and other fees of approximately $ 96,000 . At September 30, 2021, accrued liabilities on the consolidated balance sheet include accrued interest of approximately $ 80,000 , and property taxes of approximately $ 89,000 . The borrower has contested the foreclosure sale, and as of September 30, 2021, has not relinquished possession of the residences. Mortgages payable at September 30, 2021 and December 31, 2020 are summarized in the following table ($ in thousands). Lender - summary of terms September 30, 2021 December 31, 2020 Wells Fargo Bank - secured by a first trust deed on a single family residence located $ 1,453 $ 1,453 East West Bank - secured by a first trust deed on a single family residence located in — 996 Total mortgages payable $ 1,453 $ 2,449 REO, net REO, net in operations expense on the consolidated income statements is comprised of the following for the three and nine months ended September 30, 2021 and 2020 ($ in thousands). Three months ended Nine months ended 2021 2020 2021 2020 Holding costs, net of other income $ ( 83 ) $ ( 51 ) $ ( 210 ) $ ( 91 ) Gain on sales — — 79 68 Valuation adjustments — — ( 294 ) — REO, net $ ( 83 ) $ ( 51 ) $ ( 425 ) $ ( 23 ) Holding costs, net of other income includes month-to-month rents received of approximately $ 16,000 and $ 24,000 for the three months ended September 30, 2021 and 2020 , respectively, and $ 60,000 and $ 76,000 for the nine months ended September 30, 2021 and 2020 , respectively for the homes in Fresno County, which were sold in July 2021, and the unit-storage lockers and signage in San Francisco county.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value	NOTE 6 – FAIR VALUE Secured loans The following methods and assumptions are used when estimating fair value. Secured loans, performing and non-performing not designated as impaired (Level 3) - Each loan is reviewed quarterly for its delinquency, LTV adjusted for the most recent valuation of the underlying collateral, remaining term to maturity, borrower’s payment history and other factors. Due to the nature of the partnership’s loans and borrowers the fair value of loan balances secured by deeds of trust is deemed to approximate the recorded amount (per the consolidated financial statements) as our loans:  are of shorter terms at origination than commercial real estate loans by institutional lenders and conventional single-family home mortgage lenders;  are written without a prepayment penalty causing uncertainty/a lack of predictability as to the expected duration of the loan; and  have limited marketability and are not yet sellable into an established secondary market. Secured loans, designated impaired (Level 3) - The fair value of secured loans designated impaired is the lesser of the fair value of the collateral or the enforceable amount of the note. Secured loans designated impaired are collateral dependent because it is expected that the primary source of repayment will not be from the borrower but rather from the collateral. The fair value of the collateral is determined on a nonrecurring basis by exercise of judgment based on management’s experience informed by appraisals (by licensed appraisers), brokers’ opinion of values and publicly available information on in-market transactions (Level 3 inputs). When the fair value of the collateral exceeds the enforceable amount of the note, the borrower is likely to redeem the note. Accordingly, third party market participants would generally pay the fair value of the collateral, but no more than the enforceable amount of the note. The following methods and assumptions are used to determine the fair value of the collateral securing a loan. Single family – Management’s preferred method for determining the fair market value of its single-family residential assets is the sale comparison method. Management primarily obtains sales comparables (comps) via its subscription to the RealQuest service, but also uses free online services such as Zillow.com and other available resources to supplement this data. Sale comps are reviewed and adjusted for similarity to the subject property, examining features such as proximity to subject, number of bedrooms and bathrooms, square footage, sale date, condition and year built. If applicable sale comps are not available or deemed unreliable, management will seek additional information in the form of brokers’ opinions of value or appraisals. Multi-family residential – Management’s preferred method for determining the aggregate retail value of its multifamily units is the sale comparison method. Sale comps are typically provided in appraisals, or by realtors who specialize in multi-family residential properties. Sale comps are reviewed for similarity to the subject property, examining features such as proximity to subject, rental income, number of units, composition of units by the number of bedrooms and bathrooms, square footage, condition, amenities and year built. Management’s secondary method for valuing its multifamily assets as income-producing rental operations is the direct capitalization method. In order to determine market cap rates for properties of the same class and location as the subject, management refers to published data from reliable third-party sources such as the CBRE Cap Rate Survey. Management applies the appropriate cap rate to the subject’s most recent available annual net operating income to determine the property’s value as an income-producing project. When adequate sale comps are not available or reliable net operating income information is not available or the project is under development or is under-performing to market, management will seek additional information and analysis to determine the cost to improve and the intrinsic fair value and/or management will seek additional information in the form of brokers’ opinion of value or appraisals. Commercial buildings – Management’s preferred method for determining the fair value of its commercial buildings is the sale comparison method. Sale comps are typically provided in appraisals, or by realtors who specialize in commercial properties. Sale comps are reviewed for similarity to the subject property, examining features such as proximity to subject, rental income, number of units, composition of units, common areas, and year built. Management’s secondary method for valuing its commercial buildings is the direct capitalization method. In order to determine market cap rates for properties of the same class and location as the subject, management refers to reputable third-party sources such as the CBRE Cap Rate Survey. Management then applies the appropriate cap rate to the subject’s most recent available annual net operating income to determine the property’s value as an income-producing commercial rental project. When adequate sale comps are not available or reliable net operating income information is not available or the project is under development or is under-performing to market, management will seek additional information and analysis to determine the cost to improve and the intrinsic fair value and/or management will seek additional information in the form of brokers’ opinion of value or appraisals. Commercial land – Commercial land has many variations/uses, thus requiring management to employ a variety of methods depending upon the unique characteristics of the subject land, including a determination of its highest and best use. Management may rely on information in the form of a sale comparison analysis (where adequate sale comps are available), brokers’ opinion of value, or appraisal.

Line of Credit

Line of Credit	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Line of Credit	NOTE 7 – LINE OF CREDIT In March 2020, RMI VIII entered into a revolving line of credit and term loan agreement and in September 2020 borrowed on the bank line of credit. Activity involving the line of credit during the nine months ended September 30, 2021 and 2020 is presented in the following table ($ in thousands). 2021 2020 Balance, January 1 $ 2,453 $ — Draws 16,847 1,515 Repayments ( 9,300 ) — Balance, September 30, $ 10,000 $ 1,515 Line of credit - average daily balance $ 6,199 $ 1,515 The partnership can borrow up to a maximum principal of $ 10 million subject to a borrowing base calculation pursuant to a credit and term loan agreement (the loan agreement) with a bank. Amounts under the loan agreement are secured by a first priority security interest in the notes and deeds of trust of the pledged loans in the borrowing base. The loan agreement matures in March 2022 when all amounts outstanding are then due. The partnership has the option at the maturity date to convert the then outstanding principal balance on the line of credit to a one-year term loan - for a fee of one-quarter of one percent ( 0.25 %) – thereby extending the maturity date to March 2023 . Interest on the outstanding principal is payable monthly and accrues at the per annum rate of the greater of (i) five percent ( 5 %) or (ii) the sum of the one-month LIBOR rate plus three and one-quarter percent ( 3.25 %). If the partnership does not maintain the required compensating balance with a minimum daily average of $ 1.0 million for the calendar quarter, the interest rate automatically increases by one-quarter of one percent ( 0.25 %) above that rate which would otherwise be applicable for the next calendar quarter retroactive to the beginning of the calendar quarter in which the compensating balance is not maintained. At September 30, 2021 the interest rate was five percent (5%). For each calendar quarter during which the aggregate average daily outstanding principal is less than fifty percent ( 50 %) of the maximum principal of $10 million, there is a quarterly unused line fee equal to one-half of one percent ( 0.50 %) per annum of the average daily difference between the average principal outstanding and fifty percent (50%) of the maximum principal of $10 million ($5,000,000). The loan proceeds are to be used exclusively to fund secured loans. The loan agreement provides for customary financial and borrowing base reporting by the partnership to the lending bank and specifies that the partnership shall maintain (i) minimum tangible net worth of $ 50 million, net of amounts due from related companies; (ii) debt service coverage ratio at all times of not less than 2.00 to 1.00 ; and (iii) loan payment delinquency of less than ten percent ( 10.0 %) at calendar quarter-end, calculated as the principal of loans with payments over 61-days past due as determined by the lending bank’s guidance, less loan loss allowances, divided by total principal of the partnership’s loans. The loan agreement provides that in the event the loan payment delinquency rate exceeds 10.0% as of the end of any quarter, the bank will cease to make any further advances but agrees not to accelerate repayment of the loan. At September 30, 2021 and December 31, 2020, aggregate principal of pledged loans was approximately $ 21,531,000 and $ 5,371,000 , respectively, with a maximum allowed advance thereon of approximately $ 10,000,000 and $ 3,491,000 , respectively. Debt issuance costs of approximately $ 108,000 are being amortized over the two-year term of the loan agreement. Amortized debt issuance costs included in interest expense approximated $ 13,000 for each of the three months ended September 30, 2021 and 2020 and approximated $ 40,000 and $ 27,000 for the nine months ended September 30, 2021 and 2020 , respectively.

Commitments and Contingencies,

Commitments and Contingencies, Other than Loan and REO Commitments	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies Other than Loan and REO Commitments	NOTE 8 – COMMITMENTS AND CONTINGENCIES, OTHER THAN LOAN AND REO COMMITMENTS Commitments Note 3 (General Partners and Other Related Parties) presents detailed discussion of the partnership’s contractual obligations to RMC and detail of scheduled withdrawals of limited partners’ capital at September 30, 2021. Legal proceedings As of September 30, 2021 , the partnership is not involved in any legal proceedings other than those that would be considered part of the normal course of business. In the normal course of its business, the partnership may become involved in legal proceedings (such as assignment of rents, bankruptcy proceedings, appointment of receivers, unlawful detainers, judicial foreclosure, etc.) to collect the debt owed under the promissory notes, to enforce the provisions of the deeds of trust, to protect its interest in the real property subject to the deeds of trust and to resolve disputes with borrowers, lenders, lien holders and mechanics. None of these actions, in and of themselves, typically would be of any material financial impact to the net income or balance sheet of the partnership.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	NOTE 9 – SUBSEQUENT EVENTS The manager evaluated events subsequent to September 30, 2021 and determined that there were no events or transactions occurring during this reporting period that require recognition or disclosure in the unaudited consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). The partnership’s consolidated financial statements include the accounts of the partnership, its wholly-owned subsidiaries (consisting of single-member limited liability companies owning a single real property asset). All significant intercompany transactions and balances have been eliminated in consolidation.
Reclassifications	eclassifications Certain reclassifications, not affecting previously reported net income or total partners’ capital, have been made to the previously issued consolidated financial statements to conform to the current period presentation.
Management Estimates	Management estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions about the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities, at the dates of the financial statements and the reported amounts of revenues and expenses during the reported periods. Such estimates relate principally to the determination of the allowance for loan losses, including, when applicable, the valuation of impaired loans (which itself requires determining the fair value of the collateral), and the valuation of real estate owned, at acquisition and subsequently. Actual results could differ materially from these estimates.
Fair Value Estimates	Fair value estimates GAAP defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. Fair values of assets and liabilities are determined based on the fair value hierarchy established in GAAP. The hierarchy is comprised of three levels of inputs to be used.  Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the partnership has the ability to access at the measurement date. An active market is a market in which transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis.  Level 2 inputs are inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly in active markets and quoted prices for identical assets or liabilities that are not active, and inputs other than quoted prices that are observable or inputs derived from or corroborated by market data.  Level 3 inputs are unobservable inputs for the asset or liability. Unobservable inputs reflect the partnership’s own assumptions about the assumptions market participants would use in pricing the asset or liability (including assumptions about risk). Unobservable inputs are developed based on the best information available in the circumstances and may include the partnership’s own data. The fair value of real property is determined by exercise of judgment based on management’s experience informed by appraisals (by licensed appraisers), brokers’ opinion of values, and publicly available information on in-market transactions. Appraisals of commercial real property generally present three approaches to estimating value: 1) market-comparables or sales approach; 2) cost to replace; and 3) capitalized cash flows or income approach. These approaches may or may not result in a common, single value. The market-comparables approach may yield several different values depending on certain basic assumptions, including the consideration of adjustments made for any attributes specific to the real property. Management has the requisite familiarity with the real estate markets it lends in and of the specific properties lent on to analyze sales-comparables and assess their suitability/applicability. Management is acquainted with market participants – investors, developers, brokers, lenders – that are useful, relevant secondary sources of data and information regarding valuation and valuation variability. These secondary sources may have familiarity with and perspectives on pending transactions, successful strategies to optimize value, and the history and details of specific properties – on and off the market – that enhance the process and analysis that is particularly and principally germane to establishing value in distressed markets and/or property types.
Cash in Banks	Cash in banks Certain of the partnership’s cash balances in banks exceed federally insured limits of $ 250,000 . The bank or banks in which funds are deposited are reviewed periodically for their general credit worthiness/investment grade credit rating. See Note 7 (Line of Credit) for compensating balance arrangements.
Loans and Interest Income	Loans and interest income Performing loans are carried at amortized cost, which is generally equal to the unpaid principal balance (principal). Management has discretion to pay amounts (advances) to third parties on behalf of borrowers to protect the partnership’s interest in the loan. Advances include, but are not limited to, the payment of interest and principal on a senior lien to prevent foreclosure by the senior lien holder, property taxes, insurance premiums, and attorney fees. Advances generally are stated at the amounts paid out on the borrower’s behalf and any accrued interest on amounts paid out, until repaid by the borrower. For performing loans, interest is accrued daily on the principal plus advances, if any. Non-performing loans (i.e., loans with a payment in arears) less than 180 days delinquent continue to recognize interest income as long as the loan is in the process of collection and is considered to be well-secured. Non-performing loans are placed on non-accrual status if 180 days delinquent or earlier if management determines that the primary source of repayment will come from the foreclosure and subsequent sale of the collateral securing the loan (which usually occurs when a notice of sale is filed) or when the loan is no longer considered well-secured. When a loan is placed on non-accrual status, the accrual of interest is discontinued for accounting purposes only; however, previously recorded interest is not reversed. A loan may return to accrual status when all delinquent interest and principal payments become current in accordance with the terms of the loan agreement. Late fees are recognized in the period received. The partnership may fund a specific loan net of an interest reserve (one to two years ) to insure timely interest payments at the inception of the loan. Any interest reserve is amortized over the period that the amount is prepaid. In the event of an early loan payoff, any unapplied interest reserves would be first applied to any accrued but unpaid interest and then as a reduction of principal. In the normal course of the partnership’s operating activities, performing loans that are maturing or have matured may be renewed at then current market rates of interest and terms for new loans. From time to time, the manager negotiates and enters into loan modifications with borrowers whose loans are delinquent (i.e., non-performing). If a borrower is experiencing financial difficulties and a loan modification were to result in an economic concession to the borrower (i.e., a significant delay or reduction in cash flows compared to the original note), the modification is deemed a troubled debt restructuring (TDR). In March 2020, various federal regulatory agencies issued an interagency statement on loan modifications and reporting for financial institutions working with borrowers affected by the Coronavirus. The interagency statement was effective immediately and impacted accounting for loan modifications. The agencies confirmed with the staff of the Financial Accounting Standards Board (FASB) that short-term modifications made on a good faith basis in response to COVID- 19 to borrowers who were current prior to any relief, are not to be considered TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant. The partnership funds loans with the intent to hold the loans until maturity. From time to time the partnership may sell certain loans when the manager determines it to be in the best interest of the partnership. Loans are classified as held-for-sale once a decision has been made to sell loans and the loans held-for-sale have been identified. Loans classified as held for sale are carried at the lower of cost or fair value. Pursuant to California regulatory requirements borrower payments are deposited into a trust account established by RMC with an independent bank and are presented on the balance sheet as “Loan payments in trust”. Funds are disbursed to the partnership as collected which can range from same day for wire transfers and up to two weeks after deposit for checks.
Allowance for Loan Losses	Allowance for loan losses Loans and the related accrued interest and advances (i.e., the loan balance) are analyzed on a periodic basis for ultimate recoverability. Collateral fair values are reviewed quarterly and the protective equity for each loan is computed. As used herein, “protective equity” is the dollar amount by which the net realizable value (i.e., fair value less the cost to sell) of the collateral, net of any senior liens, exceeds the loan balance, where “loan balance” is the sum of the unpaid principal, advances and the recorded interest thereon. If based upon current information and events, it is probable the partnership will be unable to collect all amounts due according to the contractual terms of the loan agreement, then a loan may be designated as impaired. An insignificant delay or insignificant shortfall in the amount of payments does not constitute non-performance with the contractual terms of the original loan agreement if the manager expects to collect the amounts due including interest accrued at the contractual interest rate for the period of delay. In determining the probability that the borrower will not substantially perform according to the terms of the original loan agreement, the manager considers the following:  payment status – if payments are in arrears 90+ days (typically 3 payments past due) loans are designated impaired unless resolution of the delinquency is forthcoming without significant delay;  bankruptcy – if the borrower files bankruptcy, the loan is designated impaired;  notice of sale – if the partnership files a notice of sale, the loan is designated impaired. Payments on loans designated as impaired are applied to late fees, then to the accrued interest, then to advances, and lastly to principal. For loans that are deemed to be collateral dependent for repayment, a provision for loan losses is recorded to adjust the allowance for loan losses (principal and/or recorded interest) in an amount such that the net carrying amount (unpaid principal less the specific allowance) is reduced to the lower of the loan balance or the estimated fair value of the related collateral, net of any costs to sell and net of any senior debt and claims. The partnership charges off uncollectible loans and related receivables directly to the allowance account once it is determined the full amount is not collectible. Any amounts collected after a charge off is deemed a recovery of loan losses. If the loan goes to foreclosure, an updated appraisal is ordered and the recorded investment in the loan is adjusted to the net realizable value of the REO to be acquired. The adjustment is made to the specific reserve in the allowance for loan losses by a charge or a credit to the provision for loan losses.
Real Estate Owned (REO)	Real estate owned (REO) Real estate owned (REO) is property acquired in full or partial settlement of loan obligations generally through foreclosure and is recorded at acquisition at the property’s net realizable value, which is the fair value less estimated costs to sell, as applicable. The fair value estimates are derived from information available in the real estate markets including similar property, and often require the experience and judgment of third parties such as commercial real estate appraisers and brokers. The estimates figure materially in calculating the value of the property at acquisition, the level of charge to the allowance for loan losses and any subsequent valuation reserves. After acquisition, costs incurred relating to the development and improvement of property are capitalized to the extent they do not cause the recorded value to exceed the net realizable value, whereas costs relating to holding and disposition of the property are expensed as incurred. REO is analyzed periodically for changes in fair values and any subsequent write down is charged to operations expense. Any recovery in the fair value subsequent to such a write down is recorded, not to exceed the value recorded at acquisition. Recognition of gains on the sale of real estate is dependent upon the transaction meeting certain criteria related to the nature of the property and the terms of the sale including potential seller financing.
Debt Issuance Costs	Debt issuance costs Debt issuance costs are the fees and commissions incurred in the course of obtaining a line of credit for services from banks, law firms and other professionals and are amortized on a straight-line basis, which approximates the interest method, as interest expense over the term of the line of credit.
Recently Issued Accounting Pronouncements	ecently issued accounting pronouncements - Accounting and Financial Reporting for Expected Credit Losses The FASB issued an Accounting Standards Update (“ASU”) that significantly changes how entities will account for credit losses for most financial assets that are not measured at fair value through net income. The new standard will supersede currently in effect guidance and applies to all entities. Entities will be required to use a current expected credit loss (“CECL”) model to estimate credit impairment. This estimate will be forward-looking, meaning management will be required to use not only historical trends and current conditions, but must also consider forecasts about future economic conditions to determine the expected credit loss over the remaining life of an instrument. This will be a significant change from the current incurred credit loss model and generally may result in allowances being recognized in earlier periods than under the current credit loss model. The ASU is effective for smaller reporting companies for interim and annual reporting periods in 2023. RMI VIII invests in real estate secured loans made with the expectation that the possibility of credit losses is remote as a result of substantial protective equity provided by the underlying collateral. The real estate secured programs and low loan-to-value ratios have caused the partnership to expect that the adoption of the CECL model from the incurred loss models presently in use as to credit loss recognition will likely not materially impact the reported results of operations or financial position. However, the impact, if any, upon adoption will be dependent upon the facts and circumstances relating to the partnership’s loans at that date. - Reference Rate Reform In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, provides temporary optional expedients for various agreements and contracts that utilize the London Interbank Offered Rate (LIBOR) as the benchmark reference rate. The relief generally applies to eligible modifications of contractual terms that change (or have the potential to change) the amount or timing of contractual cash flows related to replacement of a reference rate. The relief allows such modifications to be accounted for as continuations of existing contracts without additional analysis. As the guidance in ASU 2020-04 is intended to assist entities during the global market-wide reference rate transition period, it is in effect from March 12, 2020 through December 31, 2022. The partnership is currently evaluating the impact of the potential discontinuance of LIBOR in relation to the partnership’s line of credit and has not yet adopted the optional relief.

General Partners and Other Re_2

General Partners and Other Related Parties (Tables)	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Schedule of Formation Loan Activity	The formation loan transactions for the nine months ended September 30, 2021 and 2020 are presented in the following table ($ in thousands). 2021 2020 Balance, January 1 $ 3,983 $ 4,292 Payments received from RMC ( 341 ) — Early withdrawal penalties applied ( 120 ) ( 168 ) Balance, September 30 $ 3,522 $ 4,124
Schedule of Withdrawals of Limited Partner Capital	Withdrawals of limited partners’ capital for the three and nine months ended September 30, 2021 and 2020 are presented in the following table ($ in thousands). Three months ended Nine months ended Withdrawals 2021 2020 2021 2020 Without penalty $ 3,307 $ 3,767 $ 10,044 $ 11,813 With penalty 396 403 1,202 1,681 Total $ 3,703 $ 4,170 $ 11,246 $ 13,494 Scheduled, at September 30, $ 27,021 $ 33,865 $ 27,021 $ 33,865
Scheduled Withdrawals of Limited Partner Capital Account	Scheduled withdrawals of limited partners’ capital as of September 30, 2021 are presented in the following table ($ in thousands). 2021 $ 3,393 2022 10,387 2023 6,916 2024 4,141 2025 1,703 Thereafter 481 Total $ 27,021

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2021
Secured Loan Principal Transactions	Secured loan transactions for the three and nine months ended September 30, 2021, are summarized in the following table ($ in thousands). Three months ended Nine months ended Principal, beginning of period $ 72,548 $ 74,080 Loans funded 4,885 20,421 Principal collected ( 6,167 ) ( 19,449 ) Loan transferred from related mortgage fund — 1,371 Loans transferred to related mortgage fund ( 1,039 ) ( 5,711 ) Loans sold to non-affiliate — ( 485 ) Principal, September 30, 2021 $ 70,227 $ 70,227 During the nine months ended September 30, 2021, the partnership renewed five maturing (or matured) loans with aggregated principal of approximately $ 23,035,000 , which are not included in the activity shown in the table above. The loans were current and deemed well collateralized (i.e., the LTV for the collateral was within lending guidelines) at the time they were extended. The partnership did no t renew any loans during the three months ended September 30, 2021. The partnership funds loans with the intent to hold the loans until maturity, although from time to time the partnership may sell certain loans when the manager determines it to be in the best interest of the partnership. In January 2021, a loan with principal of approximately $ 485,000 , was sold to an unaffiliated third party, for an amount that approximated the loan balance at the time of sale.
Secured Loans Characteristics	Secured loans had the characteristics presented in the following table ($ in thousands). September 30, December 31, 2021 2020 Number of secured loans 33 33 Secured loans – principal $ 70,227 $ 74,080 Secured loans – lowest interest rate (fixed) 7.0 % 5.0 % Secured loans – highest interest rate (fixed) 10.8 % 10.8 % Average secured loan – principal $ 2,128 $ 2,245 Average principal as percent of total principal 3.0 % 3.0 % Average principal as percent of partners’ capital, net of formation loan 3.1 % 2.9 % Average principal as percent of total assets 2.6 % 2.7 % Largest secured loan – principal $ 10,200 $ 10,200 Largest principal as percent of total principal 14.5 % 13.8 % Largest principal as percent of partners’ capital, net of formation loan 14.9 % 13.0 % Largest principal as percent of total assets 12.6 % 12.1 % Smallest secured loan – principal $ 57 $ 46 Smallest principal as percent of total principal 0.1 % 0.1 % Smallest principal as percent of partners’ capital, net of formation loan 0.1 % 0.1 % Smallest principal as percent of total assets 0.1 % 0.1 % Number of California counties where security is located 12 14 Largest percentage of principal in one California county 38.6 % 40.0 %
Secured Loans by Lien Position in the Collateral	At funding, secured loans had the lien positions presented in the following table ($ in thousands). September 30, 2021 December 31, 2020 Loans Principal Percent Loans Principal Percent First trust deeds 26 $ 61,164 87 % 24 $ 64,286 87 % Second trust deeds 7 9,063 13 9 9,794 13 Total principal, secured loans 33 70,227 100 % 33 74,080 100 % Liens due other lenders at loan closing 15,668 15,759 Total debt $ 85,895 $ 89,839 Appraised property value at loan closing $ 160,410 $ 180,041 Percent of total debt to appraised values (LTV) (1) 56.6 % 53.8 % (1) Based on appraised values and liens due other lenders at loan closing. The weighted-average loan-to-value (LTV) computation above does not take into account subsequent increases or decreases in property values following the loan closing, nor does it include decreases or increases on senior liens to other lenders.
Secured Loans By Property Type Of The Collateral Table Text Block	Secured loans summarized by property type are presented in the following table ($ in thousands). September 30, 2021 December 31, 2020 Loans Principal Percent Loans Principal Percent Single family (2) 16 $ 13,492 19 % 19 $ 16,598 22 % Multi-family 2 8,200 12 1 6,300 9 Commercial 15 48,535 69 12 49,682 67 Land — — — 1 1,500 2 Total principal, secured loans 33 $ 70,227 100 % 33 $ 74,080 100 % Single family property type at September 30, 2021, consists of 4 loans with aggregate principal of approximately $ 1,793,000 that are owner occupied and 12 loans with aggregate principal of approximately $ 11,699,000 that are non-owner occupied. At December 31, 2020, single family property type consisted of 8 loans with aggregate principal of $ 3,344,000 that are owner occupied and 11 loans with aggregate principal of $ 13,254,000 that are non-owner occupied. Single family includes 1-4 unit residential buildings, condominium units, townhouses and condominium complexes.
Secured Loans Distributed within California	The distribution of secured loans within California by counties is presented in the following table ($ in thousands). September 30, 2021 December 31, 2020 Principal Percent Principal Percent San Francisco Bay Area (3) San Francisco $ 27,121 38.6 % $ 29,659 40.0 % San Mateo 8,610 12.3 16,756 22.6 Alameda 6,240 8.9 823 1.1 Santa Clara 4,600 6.6 4,600 6.2 Marin 1,656 2.3 917 1.2 Sonoma 578 0.8 — 0.0 Contra Costa — — 302 0.4 48,805 69.5 53,057 71.5 Other Northern California Mariposa 57 0.1 46 0.1 Placer — 0.0 1,500 2.0 Santa Cruz — 0.0 485 0.7 Amador — 0.0 701 0.9 57 0.1 2,732 3.7 Northern California Total 48,862 69.6 55,789 75.2 Los Angeles & Coastal Los Angeles 11,269 16.0 10,199 13.8 Orange 2,194 3.1 642 0.9 Santa Barbara 2,062 2.9 2,070 2.8 Riverside 460 0.7 — 0.0 15,985 22.7 12,911 17.5 Other Southern California San Bernardino 5,380 7.7 5,380 7.3 5,380 7.7 5,380 7.3 Southern California Total 21,365 30.4 18,291 24.8 Total principal, secured loans $ 70,227 100.0 % $ 74,080 100.0 % (3) Includes the Silicon Valley
Secured Loans Scheduled Maturities	Secured loans scheduled to mature as of September 30, 2021 are presented in the following table ($ in thousands). Loans Principal Percent 2021 2 $ 1,000 1 % 2022 20 54,628 78 2023 4 3,713 5 2024 1 590 1 2025 — — — Thereafter 2 1,312 2 Total scheduled maturities 29 61,243 87 Matured at September 30, 2021 4 8,984 13 Total principal, secured loans 33 $ 70,227 100 %
Past Due Financing Receivables	Payments in arrears for non-performing secured loans (i.e., monthly interest and principal payments past due 30 or more days) at September 30, 2021 and December 31, 2020, are presented in the following tables. Loans Principal Interest (4) At September 30, 2021 Past Monthly Past Monthly Past Monthly Total Past due 30-89 days (1-3 payments) (5) 1 1 $ 7,994 $ — $ 56 $ 16 $ 8,066 90-179 days (4-6 payments) — — — — — — — 180 or more days (more than 6 (6) 4 — 6,370 — 228 — 6,598 Total past due 5 1 $ 14,364 $ — $ 284 $ 16 $ 14,664 (4) Interest includes foregone interest of approximately $ 228,000 on non-accrual loans past maturity. Interest for September 2021 is due on October 1 , 2021 and is not included in the payments in arrears at September 30, 2021 . (5) One loan, with principal of approximately $ 7,994,000 and interest of approximately $ 56,000 , included in past maturity payments (principal and interest) 30-89 days, was brought current and extended in October 2021 . The loans new maturity date is March 2022 . (6) One loan, with principal of approximately $ 5,380,000 , included in past maturity payments (principal and interest) 180 or more days, had forbearance agreements in place at September 30, 2021 . Loans Principal Interest (7) At December 31, 2020 Past Monthly Past Monthly Past Monthly Total Past due 30-89 days (1-3 payments) — — $ — $ — $ — $ — $ — 90-179 days (4-6 payments) — — — — — — — 180 or more days (more than (8) 3 — 15,139 — 849 — 15,988 Total past due 3 — $ 15,139 $ — $ 849 $ — $ 15,988 (7) Interest includes foregone interest of approximately $ 512,000 on non-accrual loans past maturity. Interest for December 2020 was due on January 1, 2021 and is not included in the payments in arrears at December 31, 2020. (8) Two loans, with an aggregate principal of approximately $ 10,735,000 , included in past maturity payments (principal and interest) 180 or more days, had forbearance agreements in place at December 31, 2020.
Secured Loans in Non-Accrual Status	Delinquency/Loans in non-accrual status Secured loans in non-accrual status are summarized in the following table ($ in thousands). September 30, 2021 December 31, 2020 Number of loans 4 3 Principal $ 6,370 $ 15,139 Advances 109 24 Accrued interest (9) 53 368 Total recorded investment $ 6,532 $ 15,531 Foregone interest $ 262 $ 582 (9) Accrued interest in the table above is the amount of interest accrued prior to the loan being placed on non-accrual status, net of any payments received while in non-accrual status.
Activity in the Allowance for Loan Losses	Activity in the allowance for loan losses for the nine months ended September 30, 2021 and 2020 is presented in the following table ($ in thousands). 2021 2020 Balance, January 1 $ 50 $ 50 Provision for loan loss 5 134 Recovery for loan losses — ( 134 ) Balance, September 30 $ 55 $ 50
By Days Past Due [Member]
Past Due Financing Receivables	Secured loans summarized by payment-delinquency status are presented in the following table ($ in thousands). September 30, 2021 December 31, 2020 Loans Principal Loans Principal Current 27 $ 53,800 30 $ 58,941 Past Due 30-89 days 2 10,057 — — 90-179 days — — — — 180 or more days 4 6,370 3 15,139 Total past due 6 16,427 3 15,139 Total principal, secured loans 33 $ 70,227 33 $ 74,080
Impaired Loans [Member]
Impaired Financing Receivables	Loans designated impaired and any associated allowance for loan losses is presented in the following table ($ in thousands). September 30, 2021 December 31, 2020 Number of loans 4 3 Principal $ 6,370 $ 15,139 Recorded investment (10) 6,532 15,531 Impaired loans without allowance 6,532 15,531 Impaired loans with allowance — — Allowance for loan losses, impaired loans — — Weighted average LTV at origination 51.4 % 54.0 % (10) Recorded investment is the sum of principal, advances, and accrued interest for financial reporting purposes.
Average Balances And Interest Income [Member]
Impaired Financing Receivables	Loans designated impaired had an average recorded investment balance, interest income recognized, and interest income received in cash for the nine months ended September 30, 2021 and the year ended December 31, 2020 as presented in the following table ($ in thousands). September 30, 2021 December 31, 2020 Average recorded investment $ 11,032 $ 14,231 Interest income recognized 64 1,271 Interest income received in cash 374 502

Real Estate Owned (REO) and M_2

Real Estate Owned (REO) and Mortgages Payable (Tables)	9 Months Ended
	Sep. 30, 2021
Real Estate [Abstract]
Summary of REO Transactions and Valuation Adjustments	REO transactions and valuation adjustments for the three and nine months ended September 30, 2021 and 2020 are summarized in the following tables ($ in thousands). Three months ended Nine months ended REO Valuation Allowance REO, net REO Valuation Allowance REO, net Balance, beginning of period $ 12,044 $ ( 3,533 ) $ 8,511 $ 12,044 $ ( 3,239 ) $ 8,805 Valuation allowance adjustment — — — — ( 294 ) ( 294 ) Dispositions ( 1,586 ) 1,333 ( 253 ) ( 1,586 ) 1,333 ( 253 ) Balance, September 30, 2021 $ 10,458 $ ( 2,200 ) $ 8,258 $ 10,458 $ ( 2,200 ) $ 8,258 Three months ended Nine months ended REO Valuation Allowance REO, net REO Valuation Allowance REO, net Balance, beginning of period $ 12,161 $ ( 3,239 ) $ 8,922 $ 6,491 $ ( 3,239 ) $ 3,252 Acquisitions from foreclosure — — — 5,787 — 5,787 Dispositions — — — ( 117 ) — ( 117 ) Balance, September 30, 2020 $ 12,161 $ ( 3,239 ) $ 8,922 $ 12,161 $ ( 3,239 ) $ 8,922
Schedule of Mortgage Payable	Mortgages payable at September 30, 2021 and December 31, 2020 are summarized in the following table ($ in thousands). Lender - summary of terms September 30, 2021 December 31, 2020 Wells Fargo Bank - secured by a first trust deed on a single family residence located $ 1,453 $ 1,453 East West Bank - secured by a first trust deed on a single family residence located in — 996 Total mortgages payable $ 1,453 $ 2,449
Summary of REO, Net	REO, net in operations expense on the consolidated income statements is comprised of the following for the three and nine months ended September 30, 2021 and 2020 ($ in thousands). Three months ended Nine months ended 2021 2020 2021 2020 Holding costs, net of other income $ ( 83 ) $ ( 51 ) $ ( 210 ) $ ( 91 ) Gain on sales — — 79 68 Valuation adjustments — — ( 294 ) — REO, net $ ( 83 ) $ ( 51 ) $ ( 425 ) $ ( 23 )

Line of Credit (Tables)

Line of Credit (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Activity Involving Line of Credit	In March 2020, RMI VIII entered into a revolving line of credit and term loan agreement and in September 2020 borrowed on the bank line of credit. Activity involving the line of credit during the nine months ended September 30, 2021 and 2020 is presented in the following table ($ in thousands). 2021 2020 Balance, January 1 $ 2,453 $ — Draws 16,847 1,515 Repayments ( 9,300 ) — Balance, September 30, $ 10,000 $ 1,515 Line of credit - average daily balance $ 6,199 $ 1,515

Organization and General - Addi

Organization and General - Additional Information (Details) - Installment	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Organizational and General Details [Line Items]
Percentage of profit or loss entitled to general partners	1.00%
Ownership interest held by the general partner	60.00%	62.00%
Minimum Amount of Time Before Leaving Partnership Without Penalty	5 years
Early Withdrawal Penalty Percentage	10.00%
Maximum Percentage of Total Limited Partners Capital Available for Liquidation During One Year	20.00%
Limited Partner [Member]
Organizational and General Details [Line Items]
Number of Quarterly Installments for Withdrawal From Partnership	4
Limited Partner [Member] | Internal Revenue Code [Member]
Organizational and General Details [Line Items]
Number of Quarterly Installments for Withdrawal From Partnership	20
Limited Partner [Member] | After Five Year Period [Member]
Organizational and General Details [Line Items]
Number of Quarterly Installments for Withdrawal From Partnership	20
Benefit Plan Investors [Member] | After Five Year Period [Member] | Internal Revenue Code [Member]
Organizational and General Details [Line Items]
Number of Quarterly Installments for Withdrawal From Partnership	4

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)	9 Months Ended
	Sep. 30, 2021USD ($)Approach
Summary of Significant Accounting Policies Details [Line Items]
Estimating real property value, number of approaches | Approach	3
Threshold period past due for impaired loans placed on non-accrual status	180 days
Interest reserve maximum length	2 years
Troubled debt restructuring	The agencies confirmed with the staff of the Financial Accounting Standards Board (FASB) that short-term modifications made on a good faith basis in response to COVID- 19 to borrowers who were current prior to any relief, are not to be considered TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant.
Maximum [Member]
Summary of Significant Accounting Policies Details [Line Items]
Federal insurance limit | $	$ 250,000
Threshold period past due for impaired loans to recognize interest income	180 days

General Partners and Other Re_3

General Partners and Other Related Parties - Additional Information (Details)	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2022USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)Loan	Sep. 30, 2020USD ($)Loan	Dec. 31, 2020USD ($)
General Partners And Other Related Parties Details [Line Items]
Management fee, description				The general partners are entitled to monthly fees for managing the partnership’s loan portfolio and operations of up to 1/32 of 1% of the “net asset value” (3/8 of 1% annually).
Loan Brokerage Commissions, Maximum Percent of Assets				4.00%
Scheduled withdrawals		$ 27,021,000		$ 27,021,000
Payable to related party (Note 3)		1,000		1,000		$ 0
Amount due from manager and related mortgage funds, net		1,050,000		$ 1,050,000		1,713,000
Number of performing loans | Loan				7	1
Performing loans mortgaged, par value		5,711,000,000	$ 2,297,000	$ 5,711,000,000	$ 2,297,000
RMC and Burwell [Member]
General Partners And Other Related Parties Details [Line Items]
Payable to related party (Note 3)		1,356,000		$ 1,356,000		3,388
Partial settlement of payable to related parties offset by receivable						5,101
Number of performing loans | Loan				2	0
Performing loans mortgaged, par value		1,371,000		$ 1,371,000
Limited Partner [Member]
General Partners And Other Related Parties Details [Line Items]
Scheduled withdrawals		27,021,000	33,865,000	27,021,000	$ 33,865,000
Partnership Agreement [Member] | Limited Partner [Member]
General Partners And Other Related Parties Details [Line Items]
Scheduled withdrawals		1,066,000,000		1,066,000,000
Formation Loan [Member]
General Partners And Other Related Parties Details [Line Items]
Formation loan, advances				22,567,000
Receivable from affiliate (formation loan)		3,522,000		3,522,000
RMC [Member]
General Partners And Other Related Parties Details [Line Items]
Brokerage commissions paid to RMC		$ 87,000	$ 218,000	$ 350,000	$ 295,000
Quarterly payments of principal, without interest						$ 162,500
RMC [Member] | Scenario Forecast [Member]
General Partners And Other Related Parties Details [Line Items]
Formation loan advances to RMC	$ 650,000
Maximum [Member]
General Partners And Other Related Parties Details [Line Items]
Annual mortgage servicing fee, percentage		1.50%		1.50%
Percentage of offering proceeds				7.00%

General Partners and Other Re_4

General Partners and Other Related Parties - Formation Loan Activity (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Formation Loan - Transactions [Abstract]
Begning Balance	$ 3,983	$ 4,292
Payments received from RMC	(341)
Early withdrawal penalties applied	(120)	(168)
Ending Balance	$ 3,522	$ 4,124

General Partners and Other Re_5

General Partners and Other Related Parties - Schedule of Withdrawals of Limited Partner Capital (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
General Partners And Other Related Parties Details [Line Items]
Scheduled, at September 30,	$ 27,021		$ 27,021
Limited Partner [Member]
General Partners And Other Related Parties Details [Line Items]
Scheduled, at September 30,	27,021	$ 33,865	27,021	$ 33,865
Limited Partner [Member] | Capital Withdrawals-without Penalty [Member]
General Partners And Other Related Parties Details [Line Items]
Total, Capital withdrawals	3,307	3,767	10,044	11,813
Limited Partner [Member] | Capital Withdrawals-subject to Penalty [Member]
General Partners And Other Related Parties Details [Line Items]
Total, Capital withdrawals	396	403	1,202	1,681
Limited Partner [Member] | Capital Subject to Withdrawals Net [Member]
General Partners And Other Related Parties Details [Line Items]
Total, Capital withdrawals	$ 3,703	$ 4,170	$ 11,246	$ 13,494

General Partners and Other Re_6

General Partners and Other Related Parties - Scheduled Capital Account Withdrawal Requests (Details) $ in Thousands	Sep. 30, 2021USD ($)
Partners Capital Account Withdrawals [Abstract]
2021	$ 3,393
2022	10,387
2023	6,916
2024	4,141
2025	1,703
Thereafter	481
Total	$ 27,021

Loans - Additional Information

Loans - Additional Information (Details)	1 Months Ended	3 Months Ended	9 Months Ended
	Oct. 31, 2021USD ($)LoanMortgageLoan	Sep. 30, 2021USD ($)MortgageLoanLoan	Sep. 30, 2021USD ($)MortgageLoanLoan	Jun. 30, 2021USD ($)	Jan. 31, 2021USD ($)	Dec. 31, 2020USD ($)LoanMortgageLoan
Loans Details [Line Items]
Loans receivable, term			5 years
Secured loans - principal (in Dollars)		$ 70,227,000	$ 70,227,000	$ 72,548,000		$ 74,080,000
Matured at September 30, 2021, Loan | Loan		4	4
Loans receivable number of loans | Loan		33	33			33
Loans receivable, number of interest only loans | Loan		16	16
Loans receivable, amortization term			30 years
Mortgage loans on real estate number of loans renewed | Loan		0	5
Mortgage loans on real estate principal renewed			$ 23,035,000
Loan funded to the trust			690,000
Aggregate principal amount of loans sold to unaffiliated third party					$ 485,000
loan payments in trust balance		$ 690,000	690,000
Remaining loan payments in trust balance		52,000	52,000
Loans receivable largest loan (in Dollars)		10,200,000	10,200,000			$ 10,200,000
Loans receivable maturity date	Sep. 30, 2021
Non-performing loans		$ 14,364,000	$ 14,364,000			$ 15,139,000
Non-Performing Number Of Loans		6	6			3
Payment for non performing loan interest		$ 300,000	$ 300,000			$ 849,000
Matured at September 30, 2021, Principal		$ 8,984,000	$ 8,984,000
Delinquent loans, number | MortgageLoan		33	33			33
Past Due180 Days Or More [Member]
Loans Details [Line Items]
Secured loans - principal (in Dollars)		$ 6,370,000	$ 6,370,000			$ 15,139,000
Delinquent loans, number | MortgageLoan		4	4			3
Past Due180 Days Or More [Member] | Forbearance Agreement [Member]
Loans Details [Line Items]
Mortgage loan principal		$ 5,380,000	$ 5,380,000			$ 10,735,000
Current [Member]
Loans Details [Line Items]
Secured loans - principal (in Dollars)	$ 7,994,000	53,800,000	53,800,000			$ 58,941,000
Matured at September 30, 2021, Loan | Loan	1
Payment for non performing loan interest		$ 56,000	$ 56,000
Matured at September 30, 2021, Principal	$ 7,994,000
Delinquent loans, number | MortgageLoan	1	27	27			30
Loans receivable extended new maturity date	2022-03
Mortgage loans extended new maturity date	2022-03
Five Year Term or Less [Member]
Loans Details [Line Items]
Mortgage loan principal		$ 61,576,103	$ 61,576,103
Loans receivable number of loans | Loan		25	25
Loans receivable, percent of aggregate principal		88.00%	88.00%
Loans Receivable, Remaining Term			5 years
Interest Only [Member]
Loans Details [Line Items]
Mortgage loan principal		$ 15,821,625	$ 15,821,625
Loans receivable, percent of aggregate principal		23.00%	23.00%
Largest Loan [Member]
Loans Details [Line Items]
Loans receivable largest loan (in Dollars)		$ 10,200,000	$ 10,200,000
Loans receivable, yield of loan acquired		9.50%	9.50%
Loans receivable maturity date			Mar. 1, 2022
Construction Loans [Member]
Loans Details [Line Items]
Loans outstanding		$ 0	$ 0

Loans - Secured Loan Principal

Loans - Secured Loan Principal Transactions (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Receivables [Abstract]
Principal, beginning of period	$ 72,548	$ 74,080
Loans funded	4,885	20,421
Principal collected	(6,167)	(19,449)
Loan transferred from related mortgage fund		1,371
Loans transferred to related mortgage fund	(1,039)	(5,711)
Loans sold to non-affiliate		(485)
Principal, ending of period	$ 70,227	$ 70,227

Loans - Secured Loans Character

Loans - Secured Loans Characteristics (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)CountyLoan	Dec. 31, 2020USD ($)LoanCounty	Jun. 30, 2021USD ($)
Secured Loan Transactions [Line Items]
Number of secured loans | Loan	33	33
Secured loans - principal (in Dollars)	$ 70,227	$ 74,080	$ 72,548
Average secured loan - principal (in Dollars)	$ 2,128	$ 2,245
Average principal as percent of total principal	3.00%	3.00%
Average principal as percent of partners’ capital, net of formation loan	3.10%	2.90%
Average principal as percent of total assets	2.60%	2.70%
Largest secured loan - principal (in Dollars)	$ 10,200	$ 10,200
Largest principal as percent of total principal	14.50%	13.80%
Largest principal as percent of partners’ capital, net of formation loan	14.90%	13.00%
Largest principal as percent of total assets	12.60%	12.10%
Smallest secured loan - principal (in Dollars)	$ 57	$ 46
Smallest principal as percent of total principal	0.10%	0.10%
Smallest principal as percent of partners’ capital, net of formation loan	0.10%	0.10%
Smallest principal as percent of total assets	0.10%	0.10%
Number of California counties where security is located | County	12	14
Largest percentage of principal in one California county	38.60%	40.00%
Minimum [Member]
Secured Loan Transactions [Line Items]
Secured loans - interest rate (fixed)	7.00%	5.00%
Maximum [Member]
Secured Loan Transactions [Line Items]
Secured loans - interest rate (fixed)	10.80%	10.80%

Loans - Secured Loans by Lien P

Loans - Secured Loans by Lien Position in the Collateral (Details) $ in Thousands		1 Months Ended	9 Months Ended	12 Months Ended
		Jun. 30, 2020MortgageLoan	Sep. 30, 2021USD ($)MortgageLoan	Dec. 31, 2020USD ($)MortgageLoan	Jun. 30, 2021USD ($)
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Secured loans, principal			$ 70,227	$ 74,080	$ 72,548
Liens due other lenders at loan closing (in Dollars)			15,668	15,759
Total debt (in Dollars)			85,895	89,839
Appraised property value at loan closing (in Dollars)			$ 160,410	$ 180,041
Percent of total debt to appraised values (LTV) at loan closing	[1]		56.60%	53.80%
Loans - percent			100.00%	100.00%
Number of secured loans | MortgageLoan		2	33	33
First Trust Deeds [Member]
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Secured loans, principal			$ 61,164	$ 64,286
Loans - percent			87.00%	87.00%
Number of secured loans | MortgageLoan			26	24
Second Trust Deeds [Member]
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Secured loans, principal			$ 9,063	$ 9,794
Loans - percent			13.00%	13.00%
Number of secured loans | MortgageLoan			7	9
[1]	Based on appraised values and liens due other lenders at loan closing. The weighted-average loan-to-value (LTV) computation above does not take into account subsequent increases or decreases in property values following the loan closing, nor does it include decreases or increases on senior liens to other lenders.

Loans - Secured Loans by Proper

Loans - Secured Loans by Property Type (Details) $ in Thousands		1 Months Ended	9 Months Ended	12 Months Ended
		Jun. 30, 2020MortgageLoan	Sep. 30, 2021USD ($)MortgageLoan	Dec. 31, 2020USD ($)MortgageLoan	Jun. 30, 2021USD ($)
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | MortgageLoan		2	33	33
Secured loans, principal | $			$ 70,227	$ 74,080	$ 72,548
Loans - percent			100.00%	100.00%
Single Family [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | MortgageLoan	[1]		16	19
Secured loans, principal | $	[1]		$ 13,492	$ 16,598
Loans - percent	[1]		19.00%	22.00%
Multi-family [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | MortgageLoan			2	1
Secured loans, principal | $			$ 8,200	$ 6,300
Loans - percent			12.00%	9.00%
Commercial [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | MortgageLoan			15	12
Secured loans, principal | $			$ 48,535	$ 49,682
Loans - percent			69.00%	67.00%
Land [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | MortgageLoan				1
Secured loans, principal | $				$ 1,500
Loans - percent				2.00%
[1]	Single family property type at September 30, 2021, consists of 4 loans with aggregate principal of approximately $ 1,793,000 that are owner occupied and 12 loans with aggregate principal of approximately $ 11,699,000 that are non-owner occupied. At December 31, 2020, single family property type consisted of 8 loans with aggregate principal of $ 3,344,000 that are owner occupied and 11 loans with aggregate principal of $ 13,254,000 that are non-owner occupied. Single family includes 1-4 unit residential buildings, condominium units, townhouses and condominium complexes.

Loans - Secured Loans by Prop_2

Loans - Secured Loans by Property Type (Parenthetical) (Details)	1 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2020MortgageLoan	Sep. 30, 2021USD ($)MortgageLoan	Dec. 31, 2020USD ($)MortgageLoan	Jun. 30, 2021USD ($)
Loans Details [Line Items]
Number of secured loans | MortgageLoan	2	33	33
Secured loans, principal | $		$ 70,227,000	$ 74,080,000	$ 72,548,000
Single Family Property-Owner Occupied [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan		4	8
Secured loans, principal | $		$ 1,793,000	$ 3,344,000
Single Family Property-NonOwner Occupied [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan		12	11
Secured loans, principal | $		$ 11,699,000	$ 13,254,000

Loans - Secured Loans Distribut

Loans - Secured Loans Distributed within California (Details) - USD ($) $ in Thousands		Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 70,227	$ 72,548	$ 74,080
Loans - percent		100.00%		100.00%
San Francisco [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal	[1]	$ 27,121		$ 29,659
Loans - percent	[1]	38.60%		40.00%
San Mateo [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 8,610		$ 16,756
Loans - percent		12.30%		22.60%
Alameda [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 6,240		$ 823
Loans - percent		8.90%		1.10%
Santa Clara [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 4,600		$ 4,600
Loans - percent		6.60%		6.20%
Marin [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 1,656		$ 917
Loans - percent		2.30%		1.20%
Sonoma [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 578
Loans - percent		0.80%		0.00%
Contra Costa [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal				$ 302
Loans - percent				0.40%
San Francisco Bay Area [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 48,805		$ 53,057
Loans - percent		69.50%		71.50%
Mariposa [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 57		$ 46
Loans - percent		0.10%		0.10%
Placer [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal				$ 1,500
Loans - percent		0.00%		2.00%
Santa Cruz [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal				$ 485
Loans - percent		0.00%		0.70%
Amador [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal				$ 701
Loans - percent		0.00%		0.90%
Other Northern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 57		$ 2,732
Loans - percent		0.10%		3.70%
Northern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 48,862		$ 55,789
Loans - percent		69.60%		75.20%
Los Angeles [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 11,269		$ 10,199
Loans - percent		16.00%		13.80%
Orange [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 2,194		$ 642
Loans - percent		3.10%		0.90%
Santa Barbara [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 2,062		$ 2,070
Loans - percent		2.90%		2.80%
Riverside [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 460
Loans - percent		0.70%		0.00%
Los Angeles And Coastal [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 15,985		$ 12,911
Loans - percent		22.70%		17.50%
San Bernardino [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 5,380		$ 5,380
Loans - percent		7.70%		7.30%
Other Southern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 5,380		$ 5,380
Loans - percent		7.70%		7.30%
Southern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 21,365		$ 18,291
Loans - percent		30.40%		24.80%
[1]	Includes the Silicon Valley

Loans - Secured Loans Scheduled

Loans - Secured Loans Scheduled Maturities (Details) $ in Thousands	Sep. 30, 2021USD ($)Loan	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)Loan
Receivables [Abstract]
2021, Loan | Loan	2
2022, Loan | Loan	20
2023, Loan | Loan	4
2024, Loan | Loan	1
Thereafter, Loan | Loan	2
Total scheduled maturities, Loan | Loan	29
Matured at September 30, 2021, Loan | Loan	4
Total principal, secured loans, Loan | Loan	33		33
2021, Principal | $	$ 1,000
2022, Principal | $	54,628
2023, Principal | $	3,713
2024, Principal | $	590
Thereafter, Principal | $	1,312
Total scheduled maturities, Principal | $	61,243
Matured at September 30, 2021, Principal | $	8,984
Total principal, secured loans, Principal | $	$ 70,227	$ 72,548	$ 74,080
2020, Percent	1.00%
2022, Percent	78.00%
2023, Percent	5.00%
2024, Percent	1.00%
Thereafter, Percent	2.00%
Total scheduled maturities, Percent	87.00%
Matured at September 30, 2021, Percent	13.00%
Total principal, secured loans, Percent	100.00%

Loans - Secured Loans Summarize

Loans - Secured Loans Summarized by Payment Delinquency (Details)	Oct. 31, 2021USD ($)MortgageLoan	Sep. 30, 2021USD ($)MortgageLoan	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)MortgageLoan
Loans (Details) - Secured Loans by Property Type [Line Items]
Delinquent loans, number | MortgageLoan		33		33
Past Due
Secured loans - principal (in Dollars) | $		$ 70,227,000	$ 72,548,000	$ 74,080,000
Current [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Delinquent loans, number | MortgageLoan	1	27		30
Past Due
Secured loans - principal (in Dollars) | $	$ 7,994,000	$ 53,800,000		$ 58,941,000
Past Due 30-89 Days [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Delinquent loans, number | MortgageLoan		2
Past Due
Secured loans - principal (in Dollars) | $		$ 10,057,000
Past Due 180 Days or More [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Delinquent loans, number | MortgageLoan		4		3
Past Due
Secured loans - principal (in Dollars) | $		$ 6,370,000		$ 15,139,000
Past Due [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Delinquent loans, number | MortgageLoan		6		3
Past Due
Secured loans - principal (in Dollars) | $		$ 16,427,000		$ 15,139,000

Loans - Schedule of Payments in

Loans - Schedule of Payments in Arrears Past Due Financing Receivables (Details) $ in Thousands		Sep. 30, 2021USD ($)Loan		Dec. 31, 2020USD ($)Loan
30-89 days (1-3 payments) [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of loans | Loan	[1]	1
Number of monthly payments | Loan	[1]	1
Past maturity, principal	[1]	$ 7,994
Past maturity, interest	[1],[2]	56
Monthly payments, interest	[1],[2]	16
Total payments	[1]	$ 8,066
Past Due 90 Days Or More [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of loans | Loan		4	[3]	3	[4]
Past maturity, principal		$ 6,370	[3]	$ 15,139	[4]
Past maturity, interest		228	[1],[2]	849	[4],[5]
Total payments		$ 6,598	[3]	$ 15,988	[4]
Total Payments Past Due
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of loans | Loan		5		3
Number of monthly payments | Loan		1
Past maturity, principal		$ 14,364		$ 15,139
Past maturity, interest		284	[2]	849	[5]
Monthly payments, interest	[2]	16
Total payments		$ 14,664		$ 15,988
[1]	One loan, with principal of approximately $ 7,994,000 and interest of approximately $ 56,000 , included in past maturity payments (principal and interest) 30-89 days, was brought current and extended in October 2021 . The loans new maturity date is March 2022 .
[2]	Interest includes foregone interest of approximately $ 228,000 on non-accrual loans past maturity. Interest for September 2021 is due on October 1 , 2021 and is not included in the payments in arrears at September 30, 2021 .
[3]	One loan, with principal of approximately $ 5,380,000 , included in past maturity payments (principal and interest) 180 or more days, had forbearance agreements in place at September 30, 2021 .
[4]	Two loans, with an aggregate principal of approximately $ 10,735,000 , included in past maturity payments (principal and interest) 180 or more days, had forbearance agreements in place at December 31, 2020.
[5]	Interest includes foregone interest of approximately $ 512,000 on non-accrual loans past maturity. Interest for December 2020 was due on January 1, 2021 and is not included in the payments in arrears at December 31, 2020.

Loans - Schedule of Payments _2

Loans - Schedule of Payments in Arrears Past Due Financing Receivables (Parenthetical) (Details)	9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)Loan		Dec. 31, 2020USD ($)Loan
Financing Receivable Recorded Investment Past Due [Line Items]
Payment for non performing loan interest	$ 300,000		$ 849,000
Current [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Number of loans | Loan	1
Principal	$ 7,994,000
Arrears on real estate of non performing secured loans extended date	2021-10
Payment for non performing loan interest	$ 56,000
Arrears on real estate of non performing secured loans maturity date	2022-03
Past Due 90 Days Or More [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Foregone interest	$ 228,000		$ 512,000
Interest, Due Date	Oct. 1, 2021		Jan. 1, 2021
Number of loans | Loan	4	[1]	3	[2]
Principal	$ 6,598,000	[1]	$ 15,988,000	[2]
Past Due 90 Days Or More [Member] | Forbearance Agreement [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Number of loans | Loan	1		2
Principal	$ 5,380,000		$ 10,735,000
[1]	One loan, with principal of approximately $ 5,380,000 , included in past maturity payments (principal and interest) 180 or more days, had forbearance agreements in place at September 30, 2021 .
[2]	Two loans, with an aggregate principal of approximately $ 10,735,000 , included in past maturity payments (principal and interest) 180 or more days, had forbearance agreements in place at December 31, 2020.

Loans - Secured Loans in Non-Ac

Loans - Secured Loans in Non-Accrual Status (Details) $ in Thousands		1 Months Ended	9 Months Ended	12 Months Ended
		Jun. 30, 2020MortgageLoan	Sep. 30, 2021USD ($)MortgageLoan	Dec. 31, 2020USD ($)MortgageLoan	Jun. 30, 2021USD ($)
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Number of secured loans | MortgageLoan		2	33	33
Secured loans, principal			$ 70,227	$ 74,080	$ 72,548
Accrued interest			544	716
Non-accrual Status [Member]
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Secured loans, principal			6,532	15,531
Accrued interest	[1]		53	368
Foregone interest			$ 262	$ 582
Principal [Member] | Non-accrual Status [Member]
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Number of secured loans | MortgageLoan			4	3
Secured loans, principal			$ 6,370	$ 15,139
Advances [Member]
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Secured loans, principal				$ 24
Advances [Member] | Non-accrual Status [Member]
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Secured loans, principal			$ 109
[1]	Accrued interest in the table above is the amount of interest accrued prior to the loan being placed on non-accrual status, net of any payments received while in non-accrual status.

Loans - Activity in the Allowan

Loans - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Receivables [Abstract]
Balance, January 1	$ 50	$ 50
Provision for loan loss	5	134
Recovery for loan losses	0	(134)
Balance, June 30	$ 55	$ 50

Loans - Secured Loans Designate

Loans - Secured Loans Designated as Impaired Loans (Details) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2021USD ($)Loan	Dec. 31, 2020USD ($)Loan
Secured Loans Designated as Impaired Loans [Abstract]
Number of loans | Loan		4	3
Principal		$ 6,370	$ 15,139
Recorded investment	[1]	6,532	15,531
Impaired loans without allowance		$ 6,532	$ 15,531
Weighted average LTV, at origination		51.40%	54.00%
[1]	Recorded investment is the sum of principal, advances, and accrued interest for financial reporting purposes.

Loans - Impaired Loans - Averag

Loans - Impaired Loans - Average Balances and Interest Income (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Impaired Loans - Average Balances and Interest Income [Abstract]
Average recorded investment	$ 11,032	$ 14,231
Interest income recognized	64	1,271
Interest income received in cash	$ 374	$ 502

Summary of REO Transactions and

Summary of REO Transactions and Valuation Adjustments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Real Estate Owned REO Details [Line Items]
Balance, beginning of period			$ 8,805
Valuation allowance adjustment			(294)
Balance, end of period	$ 8,258		8,258
R E O Balance
Real Estate Owned REO Details [Line Items]
Balance, beginning of period	12,044	$ 12,161	12,044	$ 6,491
Valuation allowance adjustment	0		0
Acquisitions from foreclosure		0		5,787
Dispositions	(1,586)	0	(1,586)	(117)
Balance, end of period	10,458	12,161	10,458	12,161
Valuation Allowance
Real Estate Owned REO Details [Line Items]
Valuation allowance, balance, beginning of period	(3,533)	(3,239)	(3,239)	(3,239)
Valuation allowance adjustment	0		(294)
Dispositions	1,333	0	1,333
Valuation allowance, Balance, end of period	(2,200)	(3,239)	(2,200)	(3,239)
R E O Net
Real Estate Owned REO Details [Line Items]
Balance, beginning of period	8,511	8,922	8,805	3,252
Valuation allowance adjustment	0		(294)
Acquisitions from foreclosure		0		5,787
Dispositions	(253)	0	(253)	(117)
Balance, end of period	$ 8,258	$ 8,922	$ 8,258	$ 8,922

Real Estate Owned (REO) and M_3

Real Estate Owned (REO) and Mortgages Payable - Additional Information (Details)	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2020USD ($)MortgageLoan	Mar. 31, 2020USD ($)	Sep. 30, 2021USD ($)aProperty	Sep. 30, 2020USD ($)ft²aProperty	Sep. 30, 2021USD ($)aPropertyMortgageLoan	Sep. 30, 2020USD ($)ft²aProperty	Dec. 31, 2020USD ($)MortgageLoan	Aug. 31, 2021USD ($)
Real Estate Owned REO Details [Line Items]
Valuation allowance adjustments					$ 294,000
Real estate owned (REO), net			$ 8,258,000		8,258,000		$ 8,805,000
REO - sales proceeds, net					216,000	$ 186,000
Deferred gain recognized payment					$ 79,000
Number of mortgage | MortgageLoan	2				33		33
Principal due				$ 2,449,000,000		$ 2,449,000,000
Noncash or Part Noncash Acquisition, Other Assets Acquired	$ 175,000,000
Number of days for foreclosure sales							242 days
Interest in arrears			80,000,000		$ 80,000,000
Delinquent property taxes					89,000,000
Accounts Payable
Real Estate Owned REO Details [Line Items]
Interest in arrears			33,000,000		33,000,000		$ 40,000,000
Delinquent property taxes					23,000,000		$ 47,000,000
Partnership Property Held For Sale
Real Estate Owned REO Details [Line Items]
Real estate owned (REO), net			$ 8,258,000		$ 8,258,000
Number of real estate properties | Property			4		4
Principal due								$ 996,000,000
Interest in arrears								$ 96,000,000
Los Angeles County
Real Estate Owned REO Details [Line Items]
Number of units in real estate property | Property				2		2
Los Angeles County | Partnership Property Held For Sale
Real Estate Owned REO Details [Line Items]
Real estate owned (REO), net				$ 5,787,000		$ 5,787,000
Los Angeles County | Family Residence
Real Estate Owned REO Details [Line Items]
Number of units in real estate property | Property				2		2
Los Angeles County | Family Residence | Large Parcel
Real Estate Owned REO Details [Line Items]
Area of real estate property | a				0.31		0.31
Los Angeles County | Family Residence | Residence
Real Estate Owned REO Details [Line Items]
Area of real estate property | ft²				5,200		5,200
Los Angeles County | Family Residence | Other Parcel
Real Estate Owned REO Details [Line Items]
Area of real estate property | a				0.12		0.12
Los Angeles County | Family Residence | Other Residence
Real Estate Owned REO Details [Line Items]
Area of real estate property | ft²				3,100		3,100
San Francisco County | Unit Storage Locker and Signage [Member]
Real Estate Owned REO Details [Line Items]
Occupancy rents received			$ 16,000,000	$ 24,000,000	$ 60,000,000	$ 76,000,000
San Francisco County | Condominium Complex [Member]
Real Estate Owned REO Details [Line Items]
REO - sales proceeds, net		$ 186,000
Gains (Losses) on Sales of Other Real Estate		$ 68,000
San Francisco County | Condominium Complex [Member] | Partnership Property Held For Sale
Real Estate Owned REO Details [Line Items]
Number of units in real estate property | Property			1		1
San Francisco County | Condominium Complex [Member] | Sold
Real Estate Owned REO Details [Line Items]
Number of units in real estate property | Property				2		2
Fresno County California | Home Subdivision | Partnership Property Held For Sale
Real Estate Owned REO Details [Line Items]
Number of units in real estate property | Property			1		1
Stanislaus County | Commercial Property | Partnership Property Held For Sale
Real Estate Owned REO Details [Line Items]
Area of real estate property | a			14		14

Real Estate Owned (REO) and M_4

Real Estate Owned (REO) and Mortgages Payable - Schedule of Mortgages Payable (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Real Estate [Line Items]
Total mortgages payable	$ 1,453	$ 2,449
Wells Fargo Bank
Real Estate [Line Items]
Total mortgages payable	1,453	1,453
East West Bank
Real Estate [Line Items]
Total mortgages payable		$ 996

Real Estate Owned (REO) and M_5

Real Estate Owned (REO) and Mortgages Payable - Summary of REO, Net (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Real Estate [Abstract]
Holding costs, net of other income	$ (83)	$ (51)	$ (210)	$ (91)
Gain on sales			79	68
Valuation allowance adjustment			(294)
REO, net	$ (83)	$ (51)	$ (425)	$ (23)

Line of Credit - Schedule of Ac

Line of Credit - Schedule of Activity Involving Line of Credit (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Debt Disclosure [Abstract]
Balance, January 1	$ 2,453
Draws	16,847	$ 1,515
Repayments	(9,300)
Balance, September 30,	10,000	1,515
Line of credit - average daily balance	$ 6,199	$ 1,515

Line of Credit - Additional Inf

Line of Credit - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021	Dec. 31, 2020
Line Of Credit Facility [Line Items]
Amortization of debt issuance costs			$ 40,000	$ 27,000
Interest expense	$ 128,000	$ 41,000	346,000	61,000
Revolving Credit Facility [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, maximum amount outstanding during period			$ 10,000,000
Agreement maturity date			Mar. 31, 2022
Line of credit facility, conversion of outstanding principal balance to term loan of fee			0.25%
Maturity date extended			Mar. 31, 2023
Line of credit facility, description			The partnership has the option at the maturity date to convert the then outstanding principal balance on the line of credit to a one-year term loan - for a fee of one-quarter of one percent (0.25%) – thereby extending the maturity date to March 2023.
Line of credit facility, interest rate description			per annum rate of the greater of (i) five percent (5%) or (ii) the sum of the one-month LIBOR rate plus three and one-quarter percent (3.25%).
Line of credit facility, interest rate	5.00%		5.00%
Interest rate, increase (decrease)			0.25%
Line of credit facility, unused line of fee			0.50%
Line of Credit Facility, Commitment Fee Description			there is a quarterly unused line fee equal to one-half of one percent (0.50%) per annum of the average daily difference between the average principal outstanding and fifty percent (50%) of the maximum principal of $10 million ($5,000,000).
Pledged Loans Aggregate Principal Amount	$ 21,531,000		$ 21,531,000			$ 5,371,000
Pledged loans, advance amount	10,000,000		10,000,000			$ 3,491,000
Amortization of debt issuance costs			108,000
Interest expense	$ 13,000	$ 13,000	$ 40,000	$ 27,000
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, interest rate	3.25%		3.25%
Revolving Credit Facility [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Minimum compensating balance amount	$ 1,000,000		$ 1,000,000
Revolving Credit Facility [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, average rate			50.00%
Line Of Credit [Member]
Line Of Credit Facility [Line Items]
Minimum tangible net worth					$ 50,000,000
Debt instrument, covenant description			partnership shall maintain (i) minimum tangible net worth of $50 million, net of amounts due from related companies; (ii) debt service coverage ratio at all times of not less than 2.00 to 1.00;
Line Of Credit [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Debt service coverage ratio			1
Line Of Credit [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Debt service coverage ratio			2
Line Of Credit [Member] | Maximum [Member] | Financial Asset, 61 Days Past Due [Member]
Line Of Credit Facility [Line Items]
Delinquency rate			10.00%

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Total mortgages payable	$ 1,453	$ 2,449
East West Bank
Subsequent Event [Line Items]
Total mortgages payable		$ 996