Redwood Mortgage Investors Viii 10-Q 14 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2017shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	CK0000889123
Entity Registrant Name	REDWOOD MORTGAGE INVESTORS VIII
Entity Central Index Key	889,123
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS
Cash, in banks	$ 11,291	$ 45,323
Loans, Secured by deeds of trust
Principal	125,777	94,851
Advances	65	63
Accrued interest	894	641
Loan balance, secured	126,736	95,555
Unsecured	34	46
Allowance for loan losses	0	0
Loans, net	126,770	95,601
Real estate owned (REO)	12,623	19,782
Other assets, net	301	444
Total assets	150,985	161,150
Liabilities
Accounts payable and other liabilities	87	387
Total liabilities	87	387
Partners' capital
Limited partners’ capital, subject to liquidation, net	157,865	167,879
General partners' capital (deficit)	(811)	(832)
Total partners' capital, net	157,054	167,047
Receivable from manager (formation loan)	(6,156)	(6,284)
Partners’ capital subject to liquidation, net of formation loan	150,898	160,763
Total liabilities and partners' capital	$ 150,985	$ 161,150

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Loans
Interest income	$ 2,194,000	$ 1,684,000	$ 4,188,000	$ 3,087,000
Late fees	8,000	2,000	15,000	7,000
Revenue, loans	2,202,000	1,686,000	4,203,000	3,094,000
Provision for (recovery of) loan losses	(25,000)	(25,000)	(25,000)	(25,000)
Loans, net	2,227,000	1,711,000	4,228,000	3,119,000
REO
Rental operations, net	(190,000)	649,000	(324,000)	1,265,000
Interest on mortgages		(274,000)		(502,000)
Rental operations, net of mortgage interest	(190,000)	375,000	(324,000)	763,000
Realized gains/(losses) on sales	759,000	281,000	861,000	784,000
Holding costs, net of other income	(8,000)	563,000	(15,000)	551,000
REO, net	561,000	1,219,000	522,000	2,098,000
Total revenues, net	2,788,000	2,930,000	4,750,000	5,217,000
Operations Expense
Mortgage servicing fees	395,000	294,000	747,000	527,000
Asset management fees	153,000	172,000	311,000	348,000
Costs from Redwood Mortgage Corp.	521,000	491,000	1,002,000	975,000
Professional services	385,000	478,000	640,000	757,000
Other	27,000	22,000	21,000	13,000
Total operations expense	1,481,000	1,457,000	2,721,000	2,620,000
Net income	1,307,000	1,473,000	2,029,000	2,597,000
Limited partners (99%)	1,294,000	1,458,000	2,008,000	2,571,000
General partners (1%)	$ 13,000	$ 15,000	$ 21,000	$ 26,000

Consolidated Statements of Inc4

Consolidated Statements of Income (Unaudited) (Parenthetical)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
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 Liquidation Net [Member]Limited Partner [Member]	Partners Capital (Deficit) [Member]General Partner [Member]	Capital Units [Member]
Beginning balance at Dec. 31, 2016	$ 160,763	$ 167,879	$ (832)	$ 167,047
Net income	2,029	2,008	21	2,029
Distributions		(1,405)		(1,405)
Liquidations		(10,617)		(10,617)
Ending balance at Jun. 30, 2017	150,898	157,865	(811)	157,054
Beginning balance at Mar. 31, 2017		162,620	(824)	161,796
Net income	1,307	1,294	13	1,307
Distributions		(695)		(695)
Liquidations		(5,354)		(5,354)
Ending balance at Jun. 30, 2017	$ 150,898	$ 157,865	$ (811)	$ 157,054

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Cash from Operations
Interest received	$ 2,009	$ 1,481	$ 3,935	$ 2,636
Other loan income	7	5	14	17
Operations expense	(1,380)	(1,498)	(2,874)	(2,544)
Rental operations, net	(272)	418	(372)	1,214
Holding costs	(8)	563	(15)	551
Mortgage interest and borrowing related fees		(255)		(466)
Other assets		3,411		3,411
Total cash provided (used) by operations	356	4,125	688	4,819
Cash from Investing Activities
Principal collected on loans - secured	8,947	11,660	12,942	16,634
Unsecured loan payments received (made)	4	4	11	8
Loans originated	(35,070)	(28,550)	(42,868)	(46,770)
Loans sold to affiliates		2,000		2,000
Loans acquired from affiliates	(1,000)		(1,000)
Advances on loans	(3)		(2)	(11)
Total - Loans	(27,122)	(14,886)	(30,917)	(28,139)
Sales	6,907	2,363	8,224	5,201
Development and acquisition	(64)	(84)	(133)	(245)
Total - REO	6,843	2,279	8,091	4,956
Total cash provided (used) by investing activities	(20,279)	(12,607)	(22,826)	(23,183)
Debt activities
Principal payments		(1,065)		(1,207)
Cash provided (used) by debt activities		(1,065)		(1,207)
Distributions to partners
Cash – partner liquidations	(5,354)	(5,396)	(10,617)	(10,721)
Formation loan payment, net of early withdrawal fees	66	104	128	204
Cash – partner distributions	(695)	(651)	(1,405)	(1,322)
Cash Distributions to partners, net	(5,983)	(5,943)	(11,894)	(11,839)
Total cash provided (used) by financing activities	(5,983)	(7,008)	(11,894)	(13,046)
Net increase/(decrease) in cash	(25,906)	(15,490)	(34,032)	(31,410)
Cash and cash equivalents, beginning of period	37,197	40,753	45,323	56,673
Cash and cash equivalents, end of period	11,291	25,263	11,291	25,263
Net income	1,307	1,473	2,029	2,597
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Amortization of borrowings-related origination fees		15		30
Provision for (recovery of) loan losses	(25)	(25)	(25)	(25)
REO – loss/(gain) on disposal	(759)	(281)	(861)	(784)
Change in operation assets and liabilities
Accrued interest	(185)	(204)	(253)	(452)
Allowance for loan losses-recoveries	25	25	25	25
Other assets	101	3,454	55	3,414
Accounts payable and other liabilities	(108)	(335)	(282)	23
Payable to affiliate		3		(9)
Total cash provided (used) by operations	$ 356	4,125	$ 688	4,819
Supplemental disclosures of cash flow information Non-cash investing activities
Real estate acquired through foreclosure/settlement on loans, net of liabilities assumed				416
Cash paid for interest		$ 270		$ 495

Organization and General

Organization and General	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Organization and General	NOTE 1 – ORGANIZATION AND GENERAL In the opinion of the general partners, 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 consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the partnership’s Form 10-K for the fiscal year ended December 31, 2016 filed with the U.S. Securities and Exchange Commission (SEC). The results of operations for the three and six month periods ended June 30, 2017 are not necessarily indicative of the operations results to be expected for the full year. Redwood Mortgage Investors VIII, a California Limited Partnership (we, 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 ongoing sources of funds for loans are the proceeds (net of withdrawals from partner capital accounts) from • loan payoffs, • borrowers’ monthly principal and interest payments, • earnings retained (i.e. not distributed) in partners’ capital accounts, • REO sales, and, • to a lesser degree and, if obtained, a line of credit. The partnership is externally managed by Redwood Mortgage Corp., a general partner (or RMC or the manager). The manager is solely responsible for managing the business and affairs of the partnership, 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 provides the personnel and services necessary to conduct our business as we have no employees of our own. The mortgage loans the partnership funds and/or invests in are arranged and generally are serviced by RMC. The general partner is required to contribute to capital one tenth of one percent (0.1%) of the aggregate capital accounts of the members. 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. Profits and losses are allocated among the limited partners according to their respective capital accounts after one percent (1%) of profits and 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 liability partnership tax shelter investments. Federal and state income taxes are the obligation of the partners, other than the annual California franchise tax and any California LLC cash receipts taxes paid by the partnership’s subsidiaries. Distribution policy At the time of their subscription for units, partners elect to have distributed to them their monthly, quarterly or annual allocation of profits, or to have profits allocated to their capital accounts be retained by the partnership to compound. Subject to certain limitations, those electing compounding may subsequently change their election. A partner’s election to receive cash distributions is irrevocable. Liquidity, capital withdrawals and early withdrawals There is no established public trading and/or secondary market for the units, and none is expected to develop. There are substantial restrictions on transferability of 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 also a limited right of 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. 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. Investment objectives and lending guidelines Our 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 affiliates, and • Preserve and protect the partnership’s capital The partnership generally funds loans • Having monthly payments of interest only or of principal and interest at fixed rates, calculated on a 30-year amortization basis, and • Having maturities of 5 years or less. The partnership’s loans generally have shorter maturity than typical mortgages. In the event that a loan is performing, and collection is deemed probable at maturity, we may elect to extend the loan’s maturity. In the event a borrower is unable to repay in full the principal owing on the loan maturity, we may elect to modify the loan payment terms and designate the loan as impaired, or may foreclose and take back the property for sale. Generally, interest rates on the partnership’s mortgage loans are not affected by market movements in interest rates. If, as expected, we continue to make and invest in fixed rate loans primarily, and interest rates were to rise, a possible result would be lower prepayments of the partnership’s loans. This increase in the duration of the time loans are on the books may reduce overall liquidity, which itself may reduce the partnership’s investment into new loans at higher interest rates. Conversely, if interest rates were to decline, we could see a significant increase in borrower prepayments. If we then invest in new loans at lower rates of interest, a lower yield to partners may possibly result. The cash flow and the income generated by the real property securing the loan factor into the credit decisions, as does the general creditworthiness, experience and reputation of the borrower. However, for loans secured by real property, other than owner-occupied personal residences, such considerations are subordinate to a determination that the value of the real property is sufficient, in and of itself, as a source of repayment. The amount of the loan combined with the outstanding debt and claims secured by a senior deed of trust on the real property generally will not exceed a specified - - as determined by an independent written appraisal at time the loan is made. The LTV generally will not exceed 80% for residential properties (including multi-family), 75% for commercial properties, and 50% for land. We believe our LTV policy gives us more potential protective equity than competing lenders who fund loans with a higher LTV. However, we may be viewed as an “asset” lender based on our emphasis on LTV in our underwriting process. Being an “asset” lender may increase the likelihood of payment defaults by borrowers. Accordingly, the partnership may have a higher level of payment delinquency and loans designated as impaired for financial reporting purposes than that of lenders, such as banks and other financial institutions subject to federal and state banking regulations, which are typically viewed as “credit” lenders. 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	6 Months Ended
	Jun. 30, 2017
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. 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 held for sale and held as investment, at acquisition and subsequently. Actual results could differ significantly from these estimates. Fair value estimates GAAP defines fair value as the exchange 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 the collateral 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 investment 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, such as, determining highest and best use (which may or may not be the current use); determining the condition (e.g. as-is, when-completed, or for land when-entitled); and determining the unit of value (e.g. as a series of individual unit sales or as a bulk disposition). Management has the requisite familiarity with the markets it lends in generally and of the properties lent on specifically 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 and cash equivalents The partnership considers all highly liquid financial instruments with maturities of three months or less at the time of purchase to be cash equivalents. At June 30, 2017, certain partnership cash balances in banks exceed federally insured limits. Loans and interest income Loans generally are stated at 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 unpaid principal balance and accrue interest until repaid by the borrower. The partnership may fund a specific loan origination net of an interest reserve (one to two years) to insure timely interest payments at the inception of the loan. As monthly interest payments become due, the partnership funds the payments into the affiliated trust account. 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. 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. Impaired loans are included in management’s periodic analysis of recoverability. If a valuation allowance had been established on an impaired loan, any subsequent payments on impaired loans are applied to late fees and then to reduce first the accrued interest, then advances, and then unpaid principal. From time to time, the partnership negotiates and enters into loan modifications with borrowers whose loans are delinquent. If the loan modification results in a significant reduction in the cash flow compared to the original note, the modification is deemed a troubled debt restructuring and a loss is recognized. In the normal course of the partnership’s operations, loans that mature may be renewed at then current market rates and terms for new loans. Such renewals are not designated as impaired, unless the matured loan was previously designated as impaired. Interest is accrued daily based on the unpaid principal balance of the loans. An impaired loan continues to accrue as long as the loan is in the process of collection and is considered to be well-secured. Loans are placed on non-accrual status at the earlier of management’s determination 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; 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. 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. Delinquencies are identified and followed as part of the loan system. Collateral fair values are reviewed quarterly and the protective equity for each loan is computed. This computation is done for each loan (whether impaired or performing), and while loans secured by collateral of similar property type are grouped, there is enough distinction and variation in the collateral that a loan-by-loan, collateral-by-collateral analysis is appropriate. For loans designated impaired, a provision is made for loan losses to adjust the allowance for loan losses to 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 senior loans and net of any costs to sell in arriving at net realizable value. Loans determined not to be individually impaired are grouped by the property type of the underlying collateral, and for each loan and for the total by property type, the amount of protective equity or amount of exposure to loss ( i.e., The company charges off uncollectible loans and related receivables directly to the allowance account once it is determined the full amount is not collectible. At foreclosure, any excess of the recorded investment in the loan (accounting basis) over the net realizable value is charged against the allowance 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 lower of the amount owed on the loan (legal basis), plus any senior indebtedness, or 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. After acquisition, 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. Rental income/depreciation Rental income is recognized when earned in accordance with the lease agreement. For commercial leases, the costs associated with originating the lease are amortized over the lease term. Residential lease terms generally range from month-to-month to one-year, and the expenses of originating the lease are expensed as incurred. Real estate owned that is designated held for sale is not depreciated. Real estate that was designated held for investment, and rented was depreciated on a straight-line basis over the estimated useful life of the property. Recently issued accounting pronouncements - Accounting and Financial Reporting for Expected Credit Losses The Financial Accounting Standards Board (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 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 today’s incurred credit loss model and generally may result in allowances being recognized in earlier periods than under the current credit loss model. RMI VIII invests in real estate secured loans made with the expectation of zero credit losses as a result of substantial protective equity provided by the underlying collateral. For a loss to be recognized under the CECL or incurred loss model, if the lending/loan-to-value guidelines are followed effectively, an intervening, subsequent-to-loan-funding, event must negatively impact the value of the underlying collateral of the loan in an amount greater than the amount of protective equity provided by the collateral. Such an event would be either (or both) of: 1) An uninsured event (s) specifically impacting the collateral or 2) A non-temporary decline in values in the applicable real estate market. In both of these instances the treatment would be the same in the incurred loss and CECL models of approximately the same amount. Other than in these events, the probable of occurrence criteria of the incurred loss model is not triggered and a loss is not recognized. Further, if the zero-expected-loss lending guideline is preserved and the protective equity provided by the collateral is not expected to be impaired over the life of the loans, then a loss is not required to be recognized under the CECL model. This convergence between the CECL and incurred loss models as to loss recognition – as an event driven occurrence – in low LTV, real estate secured programs caused RMC to conclude that the CECL model will not materially impact the reported results of operations or financial position as compared to that which would be reported in the incurred loss model. The manager expects to adopt the ASU for interim and annual reporting in 2020. -Accounting and Financial Reporting for Revenue Recognition On May 28, 2014, FASB issued a final standard on revenue from contracts with customers. The standard issued as ASU 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The standard is effective January 2018. The goals of the revenue recognition project are to clarify and converge the revenue recognition principles under U.S. GAAP and to develop guidance that would streamline and enhance revenue recognition requirements. A core principle of the standard is to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. Revenue is recognized when a performance obligation is satisfied by transferring goods or services to a customer. The FASB intentionally used the wording “be entitled” rather than “receive” or “collect” to distinguish collectability risk from other uncertainties that may exist under a contract. RMC management’s preliminary evaluation is that the new revenue standard will not have an impact on the company’s current revenue recognition policies. The scope of guidance is not applicable to financial instruments including loans and therefore will not have an impact on interest income. The company also does not expect that there will be changes to revenue recognition from the sale of REOs, however, there may be an impact to the gain on sale of real estate when the sale is financed by the company.

General Partners and Other Rela

General Partners and Other Related Parties	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
General Partners and Other Related Parties	NOTE 3 – GENERAL PARTNERS AND OTHER RELATED PARTIES The general partners are entitled to one percent (1%) of the profits and losses, which amounted to approximately $13,000 and $15,000 for the three months ended and $21,000 and $26,000 for the six months ended June 30, 2017 and 2016, respectively. Beginning with calendar year 2010, and continuing until January 1, 2020, RMC assigned its right to two-thirds of one percent (0.66%) of profits and losses to Michael R. Burwell (Burwell), President of RMC and himself a general partner of RMI VIII, in exchange for Burwell assuming one hundred percent (100%) of the general partners’ equity deficit. • Mortgage servicing fees RMC earns mortgage servicing fees 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. Mortgage servicing fees paid to RMC were approximately $395,000 and $294,000 for the three months ended and $747,000 and $527,000 for the six months ended June 30, 2017 and 2016, respectively. No mortgage servicing fees were waived during any period reported. • Asset Asset management fees paid to the general partners were approximately $153,000 and $172,000, for the three months ended, and $311,000 and $348,000 for the six months ended June 30, 2017 and 2016 respectively. The general partners receive 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). No asset management fees were waived in any period presented. • Costs from Redwood Mortgage Corp . RMC is reimbursed by the partnership for operating expenses incurred on behalf of the partnership, including without limitation, accounting and audit fees, legal fees and expenses, postage and preparation of reports to limited partners, and out-of-pocket general and administration expenses. Other costs are allocated pro-rata based on the percentage of total capital of all mortgage funds managed by RMC. Payroll and consulting fees are broken out first based on activity, and then allocated to the company on a pro-rata basis based on percentage of capital to the total capital of all mortgage funds. The decision to request reimbursement of any qualifying charges is made by RMC at its sole discretion. Operating expenses reimbursed to RMC totaled approximately $521,000 and $491,000, for the three months ended, and $1,002,000 and $975,000 for the six months ended June 30, 2017 and 2016 respectively. • Professional Services Professional services, totaled approximately $385,000 and $478,000 for the three months ended and $640,000 and $757,000 for the six months ended June 30, 2017 and 2016, respectively. Professional services include primarily audit, tax, and accounting fees relating to real estate transactions, tax compliance, LLC California tax returns and entity dissolutions, and financial reporting. Commissions and fees are paid by the borrowers to RMC • Brokerage commissions, loan originations For fees in connection with the review, selection, evaluation, negotiation and extension of loans, 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 and thus, are not an expense of the partnership. The proceeds from loan brokerage commissions and other fees earned are the source of funds for the repayment of the formation loan by RMC. • Other fees RMC receives fees for processing, notary, document preparation, credit investigation, reconveyance and other mortgage related fees. 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. In the ordinary course of business, performing loans may be assigned, in-part or in-full, between the affiliated mortgage funds at par. Formation loan/Commissions paid to broker-dealers 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.” As of June 30, 2017, the partnership had made such advances of $22,567,000, of which $6,156,000 remains outstanding on the formation loan. If the general partners are removed and RMC is no longer receiving payments for services rendered, the formation loan is forgiven, per the terms of the partnership agreement. The formation loan activity is summarized in the following table at June 30, 2017 ($ in thousands). 2017 Balance, January 1 $ 6,284 Early withdrawal penalties (128 ) Repayments — Balance, June 30 $ 6,156 The future minimum payments on the formation loan as of June 30, 2017 are presented in the following table ($ in thousands). 2017 $ 522 2018 650 2019 650 2020 650 2021 650 Thereafter 3,034 Total $ 6,156

Loans

Loans	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
Loans	NOTE 4 – LOANS Loans generally are funded at a fixed interest rate with a loan term of up to five years. As of June 30, 2017, 61 (81%) of the partnership’s 75 loans (representing 97% of the aggregate principal of the partnership’s loan portfolio) have a term of five years or less from loan inception. The remaining loans have terms longer than five years. Substantially all loans are written without a prepayment penalty clause. As of June 30, 2017, 30 (40%) of the loans outstanding (representing 67% of the aggregate principal balance of the partnership’s loan portfolio) provide for monthly payments of interest only, with the principal due in full at maturity. The remaining loans require monthly payments of principal and interest, typically calculated on a 30-year amortization, with the remaining principal balance due at maturity. Loans unpaid principal balance (principal) Secured loan transactions are summarized in the following table for the three and six months ended June 30, 2017 ($ in thousands). Three Months Ended Six Months Ended Principal, beginning of period $ 98,654 $ 94,851 Loans funded 35,070 42,868 Loans acquired from affiliates 1,000 1,000 Principal payments received (8,947 ) (12,942 ) Principal, end of period $ 125,777 $ 125,777 Three loans with an aggregate principal balance of approximately $8,617,000 were renewed during the three and six months ended June 30, 2017. Loan characteristics Secured loans had the characteristics presented in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, December 31, 2017 2016 Number of secured loans 75 75 Secured loans – principal $ 125,777 $ 94,851 Secured loans – lowest interest rate (fixed) 5.0 % 5.0 % Secured loans – highest interest rate (fixed) 10.5 % 10.5 % Average secured loan – principal $ 1,677 $ 1,265 Average principal as percent of total principal 1.3 % 1.3 % Average principal as percent of partners’ capital, net of formation loan 1.1 % 0.8 % Average principal as percent of total assets 1.1 % 0.8 % Largest secured loan – principal $ 14,000 $ 14,000 Largest principal as percent of total principal 11.1 % 14.8 % Largest principal as percent of partners’ capital, net of formation loan 9.3 % 8.7 % Largest principal as percent of total assets 9.3 % 8.7 % Smallest secured loan – principal $ 46 $ 48 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 counties where security is located (all California) 20 24 Largest percentage of principal in one county 20.6 % 23.1 % Number of secured loans with a filed notice of default 1 1 Secured loans in foreclosure – principal $ 403 $ 405 Number of secured loans with an interest reserve — — Interest reserves $ — $ — As of June 30, 2017, the partnership’s largest loan, in the unpaid principal balance of approximately $14,000,000 (representing 11.1% of outstanding secured loans and 9.3% of partnership total assets), had an interest rate of 7.25%, was secured by a commercial building in Contra Costa county, and has a maturity of January 1, 2019. As of June 30, 2017, the partnership had no outstanding construction or rehabilitation loans and no commitments to fund construction, rehabilitation or other loans. Lien position At funding, secured loans had the following lien positions and are presented in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, 2017 December 31, 2016 Loans Principal Percent Loans Principal Percent First trust deeds 48 $ 98,940 79 % 48 $ 73,712 78 % Second trust deeds 26 23,837 19 26 18,139 19 Third trust deeds 1 3,000 2 1 3,000 3 Total secured loans 75 $ 125,777 100 % 75 $ 94,851 100 % Liens due other lenders at loan closing 52,189 35,054 Total debt $ 177,966 $ 129,905 Appraised property value at loan closing $ 332,298 $ 245,329 Percent of total debt to appraised values (LTV) at loan closing (1) 56.0 % 54.0 % (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 of the amount owing on senior liens to other lenders. Property type Secured loans summarized by property type are presented in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, 2017 December 31, 2016 Loans Principal Percent Loans Principal Percent Single family (2) 45 $ 44,266 35 % 48 $ 31,773 34 % Multi-family 3 4,289 3 3 1,723 2 Commercial 25 75,247 60 22 59,380 61 Land 2 1,975 2 2 1,975 3 Total secured loans 75 $ 125,777 100 % 75 $ 94,851 100 % (2) Single family properties include owner-occupied and non-owner occupied 1-4 unit residential buildings, condominium units, townhouses, and condominium complexes. The single family property type as of June 30, 2017 consists of 20 loans with principal of approximately $13,473,000 that are owner occupied and 25 loans with principal of approximately $30,793,000 that are non-owner occupied. Single family property type as of December 31, 2016 consists of 21 loans with principal of approximately $11,177,000 that are owner occupied and 27 loans with principal of approximately $20,596,000 that are non-owner occupied. Distribution by California counties The distribution of secured loans outstanding by the California county in which the primary collateral is located is presented in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, 2017 December 31, 2016 Unpaid Principal Balance Percent Unpaid Principal Balance Percent San Francisco Bay Area (3) San Francisco $ 25,874 20.6 % 7,204 7.6 % Contra Costa 16,860 13.4 16,863 17.7 San Mateo 15,716 12.5 11,267 11.9 Alameda 11,916 9.5 6,626 7.0 Solano 2,875 2.3 1,875 2.0 Santa Clara 2,852 2.3 9,938 10.5 Marin 1,600 1.3 849 0.9 Napa 951 0.7 956 1.0 78,644 62.6 55,578 58.6 Other Northern California Sacramento 3,300 2.5 2,118 2.2 El Dorado 2,044 1.6 2,044 2.2 Monterey 1,846 1.5 4,007 4.2 Santa Cruz 811 0.6 852 0.9 Amador 760 0.6 770 0.8 Lake 297 0.2 298 0.3 Mariposa 46 0.1 48 0.1 Calaveras — — 151 0.2 San Benito — — 94 0.1 9,104 7.1 10,382 11.0 Total Northern California 87,748 69.7 65,960 69.6 Los Angeles & Coastal Los Angeles 24,981 19.9 21,876 23.0 Orange 6,667 5.3 3,765 4.0 San Diego 164 0.1 2,464 2.6 Ventura — — 271 0.3 31,812 25.3 28,376 29.9 Other Southern California San Bernardino 6,024 4.8 124 0.1 Riverside 193 0.2 289 0.3 Kern — — 102 0.1 6,217 5.0 515 0.5 Total Southern California 38,029 30.3 28,891 30.4 Total Secured Loans Balance $ 125,777 100.0 % $ 94,851 100.0 % (3) Includes the Silicon Valley Delinquency Secured loans summarized by payment delinquency are presented in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, 2017 December 31, 2016 Loans Amount Loans Amount Past Due 30-89 days — $ — 1 $ 164 90-179 days 2 781 1 405 180 or more days 1 164 — — Total past due 3 $ 945 2 569 Current 72 124,832 73 94,282 Total secured loan balance 75 $ 125,777 75 $ 94,851 Interest income of $7,062 was accrued on loans contractually past due 90 days or more as to principal and/or interest payments during six months ended June 30, 2017. Modifications, workout agreements and troubled debt restructurings At June 30, 2017, the partnership had no modifications, workout agreements, or troubled debt restructurings in effect. At December 31, 2016, the partnership had one workout agreement which qualified as troubled debt restructuring. This loan was paid in full in January 2017. Scheduled maturities Secured loans are scheduled to mature as presented in the following table ($ in thousands). Scheduled maturities, as of June 30, 2017 Loans Principal Percent 2017 (4) 7 $ 7,660 6 % 2018 24 46,479 37 2019 23 59,626 47 2020 11 8,275 7 2021 7 1,983 2 Thereafter 3 1,754 1 Total secured loan balance 75 $ 125,777 100 % (4) Loans maturing in 2017 from July 1 to December 31. It is the partnership’s experience that loans may be repaid or refinanced before, at or after the contractual maturity date. For matured loans, the partnership may continue to accept payments while pursuing collection of amounts owed from borrowers. Therefore, the above tabulation for scheduled maturities is not a forecast of future cash receipts. Loans in non-accrual status Secured loans in non-accrual status are summarized in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, December 31, 2017 2016 Number of loans 2 1 Principal $ 392 $ 230 Advances 6 2 Accrued interest 4 2 Total recorded investment $ 402 $ 234 Foregone interest $ — $ — At June 30, 2017, there were two loans with a principal balance of approximately $781,000 that were contractually 90 or more days past due as to principal or interest and not in non-accrual status. At December 31, 2016, there was one loan with a loan balance of approximately $405,000, that was contractually 90 or more days past due as to principal or interest and not in non-accrual status. Loans designated impaired Impaired loans had the balances shown and the associated allowance for loan losses presented in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, December 31, 2017 2016 Principal $ 392 $ 230 Recorded investment (5) 402 234 Impaired loans without allowance 402 234 Impaired loans with allowance — — Allowance for loan losses, impaired loans — — Number of Loans 2 1 (5) Recorded investment is the sum of principal, advances, and interest accrued for financial reporting purposes. Impaired loans had the average balances and interest income recognized and received in cash as presented in the following table as of, and for, the three months ended June 30, 2017 and the year ended December 31, 2016 ($ in thousands). June 30, December 31, 2017 2016 Average recorded investment $ 318 $ 509 Interest income recognized 16 27 Interest income received in cash 12 27 Allowance for loan losses At June 30, 2017, and December 31, 2016, the partnership had no allowance for loan losses as all loans had protective equity such that at June 30, 2017, and December 31, 2016, collection was deemed probable for amounts owing.

Real Estate Owned (REO)

Real Estate Owned (REO)	6 Months Ended
	Jun. 30, 2017
Real Estate [Abstract]
Real Estate Owned (REO)	NOTE 5 – REAL ESTATE OWNED (REO) Transactions and activity, including changes in the net book values, are presented in the following table for the three and six months ended June 30, 2017 ($ in thousands). For the Three Months Ended, For the six months ended June 30, 2017 June 30, 2017 Balance, beginning of period $ 18,635 $ 19,782 Acquisitions — — Dispositions (6,077 ) (7,292 ) Improvements/betterments 65 133 Balance, end of period $ 12,623 $ 12,623 At June 30, 2017, all properties are designated held for sale. REO summarized by property classification is presented in the following table ($ in thousands). June 30, 2017 December 31, 2016 Properties NBV Properties NBV Property classification Rental 4 $ 9,015 5 $ 16,174 Non-Rental 3 3,608 3 3,608 Total REO, net 7 $ 12,623 8 $ 19,782 Rental properties consist of the following four properties at June 30, 2017. • In Los Angeles County, 24 residential units in a condominium complex • In San Francisco County, 5 residential units in a condominium complex • In Contra Costa County, a commercial office property • In San Francisco County, an interest in a commercial property Non-Rental properties consist of the following three properties at June 30, 2017. • In Fresno County, a partially completed home subdivision • In Marin County, approximately 13 acres zoned for residential development • In Stanislaus County, approximately 14 acres zoned commercial The residential rental properties were substantially vacated by January 31, 2017, as the units are being sold. Residential rental operations are substantially wound down as of June 30, 2017. Earnings from rental operations are presented in the following table for the three and six months ended June 30, 2017 and 2016 ($ in thousands). Three Months Ended Six Months Ended 2017 2016 2017 2016 Rental income $ 62 $ 1,414 $ 269 $ 2,781 Operating expenses, rentals Administration and payroll 25 198 56 383 Homeowner association fees 39 115 82 230 Professional services 3 16 13 26 Utilities and maintenance 108 183 310 388 Advertising and promotions — 4 1 9 Property taxes 36 188 79 397 Other 40 59 49 81 Total operating expenses, rentals 251 763 590 1,514 Net operating income (189 ) 651 (321 ) 1,267 Depreciation — — — — Receiver fees 1 2 3 2 Rental operations, net (190 ) 649 (324 ) 1,265 Interest on mortgages — 274 — 502 Rental operation, net of mortgage interest $ (190 ) $ 375 $ (324 ) $ 763 Leases on residential properties are one-year lease terms or month to month. There is one commercial lease with a three-year term for annual rent payments of approximately $85,000. The lease expires in August 2017, with an option to extend. The following transactions closed during the three months ended June 30, 2017: - Sold 14 of 38 units remaining at the beginning of the period, in a condominium complex in Los Angeles County with a gain of approximately $240,000. - Sold 3 of 8 units remaining at the beginning of the period, in a condominium complex in San Francisco County with a gain of approximately $448,000. - Sold 3 commercial units and a parking lot in Ventura County for a gain of approximately $71,000 after taking into account a portion of a previously recorded valuation reserve. The following transactions closed during the three months ended March 31, 2017: - Sold 4 of 42 units remaining at the beginning of the period, in a condominium complex in Los Angeles County with a gain of approximately $102,000. Mortgages payable The partnership had no mortgages payable at June 30, 2017, or December 31, 2016.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value	NOTE 6 – FAIR VALUE The partnership does not record loans, REO or mortgages payable at fair value on a recurring basis. The recorded amount of the performing loans (i.e., the loan balance) is deemed to approximate the fair value, as is the loan balance of loans designated impaired for which a specific reserve has not been recorded (i.e., the loan is well collateralized, such that the collection of the amount owed is assured, including foregone interest, if any). Certain assets and liabilities are measured at fair value on a non-recurring basis and are listed below. - Loans designated impaired (i.e., that are collateral dependent with a specific reserve) - REO for which a valuation reserve has been recorded - REO acquired through foreclosure during the year No assets or liabilities were measured at fair value on a non-recurring basis during the six months ended June 30, 2017. The following methods and assumptions are used when estimating fair value. • Secured loans, performing (i.e. not designated as impaired) (Level 2) - 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. Also considered is the limited resale market for the loans. Most companies or individuals making similar loans as the company intend to hold the loans until maturity as the average contractual term of the loans (and the historical experience of the time the loan is outstanding due to pre-payments) is shorter than conventional mortgages. As there are no prepayment penalties to be collected, loan buyers may be hesitant to risk paying above par. Due to these factors, sales of the loans are infrequent, because an active market does not exist. The recorded amount of the performing loans (i.e. the loan balance) is deemed to approximate the fair value, although the intrinsic value of the loans would reflect a premium due to the interest to be received. • Secured loans, designated impaired (Level 2) - Secured loans designated impaired are deemed collateral dependent, and the fair value of the loan is the lesser of the fair value of the collateral or the enforceable amount owing under the note. The fair value of the collateral 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 (Level 2 inputs). 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 sale 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 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 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 – Where commercial rental income information is available, management’s preferred method for determining the fair value of its commercial real estate assets 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. Management supplements the direct capitalization method with additional information in the form of a sale comparison analysis (where adequate sale comps are available), brokers’ opinion of value, or appraisal. 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. 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. • Unsecured loans (Level 3). Unsecured loans are valued at their principal less any discount or loss reserves established by management after taking into account the borrower’s creditworthiness and ability to repay the loan. • Mortgages payable (Level 2). When the partnership had mortgages payable in 2016 and 2015, the interest rates were deemed to be at market rates for the type and location of the securing property, the length of the mortgage, and the other terms and conditions are deemed to be customary.

Commitments and Contingencies,

Commitments and Contingencies, Other Than Loan and REO Commitments	6 Months Ended
	Jun. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies, Other Than Loan and REO Commitments	NOTE 7 – COMMITMENTS AND CONTINGENCIES, OTHER THAN LOAN AND REO COMMITMENTS Commitments The partnership’s only commitment is to fund scheduled capital account withdrawal requests at June 30, 2017 as presented in the following table ($ in thousands). 2017 $ 10,862 2018 17,868 2019 13,621 2020 6,774 2021 3,256 Thereafter 652 Total $ 53,033 Legal proceedings 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. As of the date hereof, the partnership is not involved in any legal proceedings other than those that would be considered part of the normal course of business.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	NOTE 8 – SUBSEQUENT EVENTS None.

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
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.
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 held for sale and held as investment, at acquisition and subsequently. Actual results could differ significantly from these estimates.
Fair Value Estimates	Fair value estimates GAAP defines fair value as the exchange 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 the collateral 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 investment 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, such as, determining highest and best use (which may or may not be the current use); determining the condition (e.g. as-is, when-completed, or for land when-entitled); and determining the unit of value (e.g. as a series of individual unit sales or as a bulk disposition). Management has the requisite familiarity with the markets it lends in generally and of the properties lent on specifically 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 and Cash Equivalents	Cash and cash equivalents The partnership considers all highly liquid financial instruments with maturities of three months or less at the time of purchase to be cash equivalents. At June 30, 2017, certain partnership cash balances in banks exceed federally insured limits.
Loans and Interest Income	Loans and interest income Loans generally are stated at 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 unpaid principal balance and accrue interest until repaid by the borrower. The partnership may fund a specific loan origination net of an interest reserve (one to two years) to insure timely interest payments at the inception of the loan. As monthly interest payments become due, the partnership funds the payments into the affiliated trust account. 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. 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. Impaired loans are included in management’s periodic analysis of recoverability. If a valuation allowance had been established on an impaired loan, any subsequent payments on impaired loans are applied to late fees and then to reduce first the accrued interest, then advances, and then unpaid principal. From time to time, the partnership negotiates and enters into loan modifications with borrowers whose loans are delinquent. If the loan modification results in a significant reduction in the cash flow compared to the original note, the modification is deemed a troubled debt restructuring and a loss is recognized. In the normal course of the partnership’s operations, loans that mature may be renewed at then current market rates and terms for new loans. Such renewals are not designated as impaired, unless the matured loan was previously designated as impaired. Interest is accrued daily based on the unpaid principal balance of the loans. An impaired loan continues to accrue as long as the loan is in the process of collection and is considered to be well-secured. Loans are placed on non-accrual status at the earlier of management’s determination 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; 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.
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. Delinquencies are identified and followed as part of the loan system. Collateral fair values are reviewed quarterly and the protective equity for each loan is computed. This computation is done for each loan (whether impaired or performing), and while loans secured by collateral of similar property type are grouped, there is enough distinction and variation in the collateral that a loan-by-loan, collateral-by-collateral analysis is appropriate. For loans designated impaired, a provision is made for loan losses to adjust the allowance for loan losses to 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 senior loans and net of any costs to sell in arriving at net realizable value. Loans determined not to be individually impaired are grouped by the property type of the underlying collateral, and for each loan and for the total by property type, the amount of protective equity or amount of exposure to loss ( i.e., The company charges off uncollectible loans and related receivables directly to the allowance account once it is determined the full amount is not collectible. At foreclosure, any excess of the recorded investment in the loan (accounting basis) over the net realizable value is charged against the allowance 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 lower of the amount owed on the loan (legal basis), plus any senior indebtedness, or 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. After acquisition, 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.
Rental Income/Depreciation	Rental income/depreciation Rental income is recognized when earned in accordance with the lease agreement. For commercial leases, the costs associated with originating the lease are amortized over the lease term. Residential lease terms generally range from month-to-month to one-year, and the expenses of originating the lease are expensed as incurred. Real estate owned that is designated held for sale is not depreciated. Real estate that was designated held for investment, and rented was depreciated on a straight-line basis over the estimated useful life of the property.
Recently Issued Accounting Pronouncements	Recently issued accounting pronouncements - Accounting and Financial Reporting for Expected Credit Losses The Financial Accounting Standards Board (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 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 today’s incurred credit loss model and generally may result in allowances being recognized in earlier periods than under the current credit loss model. RMI VIII invests in real estate secured loans made with the expectation of zero credit losses as a result of substantial protective equity provided by the underlying collateral. For a loss to be recognized under the CECL or incurred loss model, if the lending/loan-to-value guidelines are followed effectively, an intervening, subsequent-to-loan-funding, event must negatively impact the value of the underlying collateral of the loan in an amount greater than the amount of protective equity provided by the collateral. Such an event would be either (or both) of: 1) An uninsured event (s) specifically impacting the collateral or 2) A non-temporary decline in values in the applicable real estate market. In both of these instances the treatment would be the same in the incurred loss and CECL models of approximately the same amount. Other than in these events, the probable of occurrence criteria of the incurred loss model is not triggered and a loss is not recognized. Further, if the zero-expected-loss lending guideline is preserved and the protective equity provided by the collateral is not expected to be impaired over the life of the loans, then a loss is not required to be recognized under the CECL model. This convergence between the CECL and incurred loss models as to loss recognition – as an event driven occurrence – in low LTV, real estate secured programs caused RMC to conclude that the CECL model will not materially impact the reported results of operations or financial position as compared to that which would be reported in the incurred loss model. The manager expects to adopt the ASU for interim and annual reporting in 2020. -Accounting and Financial Reporting for Revenue Recognition On May 28, 2014, FASB issued a final standard on revenue from contracts with customers. The standard issued as ASU 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The standard is effective January 2018. The goals of the revenue recognition project are to clarify and converge the revenue recognition principles under U.S. GAAP and to develop guidance that would streamline and enhance revenue recognition requirements. A core principle of the standard is to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. Revenue is recognized when a performance obligation is satisfied by transferring goods or services to a customer. The FASB intentionally used the wording “be entitled” rather than “receive” or “collect” to distinguish collectability risk from other uncertainties that may exist under a contract. RMC management’s preliminary evaluation is that the new revenue standard will not have an impact on the company’s current revenue recognition policies. The scope of guidance is not applicable to financial instruments including loans and therefore will not have an impact on interest income. The company also does not expect that there will be changes to revenue recognition from the sale of REOs, however, there may be an impact to the gain on sale of real estate when the sale is financed by the company.

General Partners and Other Re16

General Partners and Other Related Parties (Tables)	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Schedule of Formation Loan Activity	The formation loan activity is summarized in the following table at June 30, 2017 ($ in thousands). 2017 Balance, January 1 $ 6,284 Early withdrawal penalties (128 ) Repayments — Balance, June 30 $ 6,156
Formation Loan, Future Minimum Payments	The future minimum payments on the formation loan as of June 30, 2017 are presented in the following table ($ in thousands). 2017 $ 522 2018 650 2019 650 2020 650 2021 650 Thereafter 3,034 Total $ 6,156

Loans (Tables)

Loans (Tables)	6 Months Ended
	Jun. 30, 2017
Secured Loan Principal Transactions	Secured loan transactions are summarized in the following table for the three and six months ended June 30, 2017 ($ in thousands). Three Months Ended Six Months Ended Principal, beginning of period $ 98,654 $ 94,851 Loans funded 35,070 42,868 Loans acquired from affiliates 1,000 1,000 Principal payments received (8,947 ) (12,942 ) Principal, end of period $ 125,777 $ 125,777
Secured Loans Characteristics	Secured loans had the characteristics presented in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, December 31, 2017 2016 Number of secured loans 75 75 Secured loans – principal $ 125,777 $ 94,851 Secured loans – lowest interest rate (fixed) 5.0 % 5.0 % Secured loans – highest interest rate (fixed) 10.5 % 10.5 % Average secured loan – principal $ 1,677 $ 1,265 Average principal as percent of total principal 1.3 % 1.3 % Average principal as percent of partners’ capital, net of formation loan 1.1 % 0.8 % Average principal as percent of total assets 1.1 % 0.8 % Largest secured loan – principal $ 14,000 $ 14,000 Largest principal as percent of total principal 11.1 % 14.8 % Largest principal as percent of partners’ capital, net of formation loan 9.3 % 8.7 % Largest principal as percent of total assets 9.3 % 8.7 % Smallest secured loan – principal $ 46 $ 48 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 counties where security is located (all California) 20 24 Largest percentage of principal in one county 20.6 % 23.1 % Number of secured loans with a filed notice of default 1 1 Secured loans in foreclosure – principal $ 403 $ 405 Number of secured loans with an interest reserve — — Interest reserves $ — $ —
Secured Loans by Lien Position in the Collateral	At funding, secured loans had the following lien positions and are presented in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, 2017 December 31, 2016 Loans Principal Percent Loans Principal Percent First trust deeds 48 $ 98,940 79 % 48 $ 73,712 78 % Second trust deeds 26 23,837 19 26 18,139 19 Third trust deeds 1 3,000 2 1 3,000 3 Total secured loans 75 $ 125,777 100 % 75 $ 94,851 100 % Liens due other lenders at loan closing 52,189 35,054 Total debt $ 177,966 $ 129,905 Appraised property value at loan closing $ 332,298 $ 245,329 Percent of total debt to appraised values (LTV) at loan closing (1) 56.0 % 54.0 % (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 of the amount owing on senior liens to other lenders.
Secured Loans by Property Type of the Collateral	Secured loans summarized by property type are presented in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, 2017 December 31, 2016 Loans Principal Percent Loans Principal Percent Single family (2) 45 $ 44,266 35 % 48 $ 31,773 34 % Multi-family 3 4,289 3 3 1,723 2 Commercial 25 75,247 60 22 59,380 61 Land 2 1,975 2 2 1,975 3 Total secured loans 75 $ 125,777 100 % 75 $ 94,851 100 % (2) Single family properties include owner-occupied and non-owner occupied 1-4 unit residential buildings, condominium units, townhouses, and condominium complexes. The single family property type as of June 30, 2017 consists of 20 loans with principal of approximately $13,473,000 that are owner occupied and 25 loans with principal of approximately $30,793,000 that are non-owner occupied. Single family property type as of December 31, 2016 consists of 21 loans with principal of approximately $11,177,000 that are owner occupied and 27 loans with principal of approximately $20,596,000 that are non-owner occupied.
Secured Loans Distributed within California	The distribution of secured loans outstanding by the California county in which the primary collateral is located is presented in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, 2017 December 31, 2016 Unpaid Principal Balance Percent Unpaid Principal Balance Percent San Francisco Bay Area (3) San Francisco $ 25,874 20.6 % 7,204 7.6 % Contra Costa 16,860 13.4 16,863 17.7 San Mateo 15,716 12.5 11,267 11.9 Alameda 11,916 9.5 6,626 7.0 Solano 2,875 2.3 1,875 2.0 Santa Clara 2,852 2.3 9,938 10.5 Marin 1,600 1.3 849 0.9 Napa 951 0.7 956 1.0 78,644 62.6 55,578 58.6 Other Northern California Sacramento 3,300 2.5 2,118 2.2 El Dorado 2,044 1.6 2,044 2.2 Monterey 1,846 1.5 4,007 4.2 Santa Cruz 811 0.6 852 0.9 Amador 760 0.6 770 0.8 Lake 297 0.2 298 0.3 Mariposa 46 0.1 48 0.1 Calaveras — — 151 0.2 San Benito — — 94 0.1 9,104 7.1 10,382 11.0 Total Northern California 87,748 69.7 65,960 69.6 Los Angeles & Coastal Los Angeles 24,981 19.9 21,876 23.0 Orange 6,667 5.3 3,765 4.0 San Diego 164 0.1 2,464 2.6 Ventura — — 271 0.3 31,812 25.3 28,376 29.9 Other Southern California San Bernardino 6,024 4.8 124 0.1 Riverside 193 0.2 289 0.3 Kern — — 102 0.1 6,217 5.0 515 0.5 Total Southern California 38,029 30.3 28,891 30.4 Total Secured Loans Balance $ 125,777 100.0 % $ 94,851 100.0 % (3) Includes the Silicon Valley
Secured Loans Scheduled Maturities	Secured loans are scheduled to mature as presented in the following table ($ in thousands). Scheduled maturities, as of June 30, 2017 Loans Principal Percent 2017 (4) 7 $ 7,660 6 % 2018 24 46,479 37 2019 23 59,626 47 2020 11 8,275 7 2021 7 1,983 2 Thereafter 3 1,754 1 Total secured loan balance 75 $ 125,777 100 % (4) Loans maturing in 2017 from July 1 to December 31.
Secured Loans in Non-Accrual Status	Secured loans in non-accrual status are summarized in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, December 31, 2017 2016 Number of loans 2 1 Principal $ 392 $ 230 Advances 6 2 Accrued interest 4 2 Total recorded investment $ 402 $ 234 Foregone interest $ — $ —
By Days Past Due [Member]
Secured Loans Summarized by Payment Delinquency	Secured loans summarized by payment delinquency are presented in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, 2017 December 31, 2016 Loans Amount Loans Amount Past Due 30-89 days — $ — 1 $ 164 90-179 days 2 781 1 405 180 or more days 1 164 — — Total past due 3 $ 945 2 569 Current 72 124,832 73 94,282 Total secured loan balance 75 $ 125,777 75 $ 94,851
Impaired Loans [Member]
Impaired Financing Receivables	Impaired loans had the balances shown and the associated allowance for loan losses presented in the following table as of June 30, 2017 and December 31, 2016 ($ in thousands). June 30, December 31, 2017 2016 Principal $ 392 $ 230 Recorded investment (5) 402 234 Impaired loans without allowance 402 234 Impaired loans with allowance — — Allowance for loan losses, impaired loans — — Number of Loans 2 1 (5) Recorded investment is the sum of principal, advances, and interest accrued for financial reporting purposes.
Average Balances And Interest Income [Member]
Impaired Financing Receivables	Impaired loans had the average balances and interest income recognized and received in cash as presented in the following table as of, and for, the three months ended June 30, 2017 and the year ended December 31, 2016 ($ in thousands). June 30, December 31, 2017 2016 Average recorded investment $ 318 $ 509 Interest income recognized 16 27 Interest income received in cash 12 27

Real Estate Owned (REO) (Tables

Real Estate Owned (REO) (Tables)	6 Months Ended
	Jun. 30, 2017
Real Estate [Abstract]
REO Held for Sale	Transactions and activity, including changes in the net book values, are presented in the following table for the three and six months ended June 30, 2017 ($ in thousands). For the Three Months Ended, For the six months ended June 30, 2017 June 30, 2017 Balance, beginning of period $ 18,635 $ 19,782 Acquisitions — — Dispositions (6,077 ) (7,292 ) Improvements/betterments 65 133 Balance, end of period $ 12,623 $ 12,623
REO Held for Sale by Property Type	REO summarized by property classification is presented in the following table ($ in thousands). June 30, 2017 December 31, 2016 Properties NBV Properties NBV Property classification Rental 4 $ 9,015 5 $ 16,174 Non-Rental 3 3,608 3 3,608 Total REO, net 7 $ 12,623 8 $ 19,782
Earnings/(Loss) from Rental Operations of the Real Estate Owned, Held as Investment	Earnings from rental operations are presented in the following table for the three and six months ended June 30, 2017 and 2016 ($ in thousands). Three Months Ended Six Months Ended 2017 2016 2017 2016 Rental income $ 62 $ 1,414 $ 269 $ 2,781 Operating expenses, rentals Administration and payroll 25 198 56 383 Homeowner association fees 39 115 82 230 Professional services 3 16 13 26 Utilities and maintenance 108 183 310 388 Advertising and promotions — 4 1 9 Property taxes 36 188 79 397 Other 40 59 49 81 Total operating expenses, rentals 251 763 590 1,514 Net operating income (189 ) 651 (321 ) 1,267 Depreciation — — — — Receiver fees 1 2 3 2 Rental operations, net (190 ) 649 (324 ) 1,265 Interest on mortgages — 274 — 502 Rental operation, net of mortgage interest $ (190 ) $ 375 $ (324 ) $ 763

Commitments and Contingencies19

Commitments and Contingencies, Other Than Loan and REO Commitments (Tables)	6 Months Ended
	Jun. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Scheduled Capital Account Withdrawal Requests	The partnership’s only commitment is to fund scheduled capital account withdrawal requests at June 30, 2017 as presented in the following table ($ in thousands). 2017 $ 10,862 2018 17,868 2019 13,621 2020 6,774 2021 3,256 Thereafter 652 Total $ 53,033

Note 1 - Organization and Gener

Note 1 - Organization and General (Detail) - Installment	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Organizational and General Details [Line Items]
Ownership interest held by the general partner	1.00%	1.00%	1.00%	1.00%
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%
Loans Receivable, Amortization Term			30 years
Commercial [Member]
Organizational and General Details [Line Items]
Loan-to-value ratio percentage			75.00%
Land Loan [Member]
Organizational and General Details [Line Items]
Loan-to-value ratio percentage			50.00%
Minimum [Member]
Organizational and General Details [Line Items]
Formation Loan Repayment Period			5 years
Maximum [Member] | Multi-family [Member]
Organizational and General Details [Line Items]
Loan-to-value ratio percentage			80.00%
Limited Partner [Member]
Organizational and General Details [Line Items]
Number of Quarterly Installments for Withdrawal From Partnership			4
Limited Partner [Member] | After Five Year Period [Member]
Organizational and General Details [Line Items]
Number of Quarterly Installments for Withdrawal From Partnership			20
RMC [Member]
Organizational and General Details [Line Items]
Ownership interest held by the general partner			0.10%

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies (Detail)	6 Months Ended
	Jun. 30, 2017Approach
Summary of Significant Accounting Policies Details [Line Items]
Estimating real property value, number of approaches	3
Cash and cash equivalents, maximum initial maturity	3 months
Interest reserve minimum length	1 year
Interest reserve maximum length	2 years
Maximum [Member]
Summary of Significant Accounting Policies Details [Line Items]
Residential lease term	1 year

Note 3 - General Partners and O

Note 3 - General Partners and Other Related Parties (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
General Partners And Other Related Parties Details [Line Items]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 1,307,000	$ 1,473,000	$ 2,029,000	$ 2,597,000
Chargeable by RMC	395,000	294,000	747,000	527,000
Asset management fees	153,000	172,000	$ 311,000	348,000
Management fee, description			The general partners receive 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).
Asset management fees waived	0	0	$ 0	0
Operating Expenses	521,000	491,000	1,002,000	975,000
Professional services	385,000	478,000	$ 640,000	757,000
Loan Brokerage Commissions, Maximum Percent of Assets			4.00%
Formation Loan [Member]
General Partners And Other Related Parties Details [Line Items]
Formation loan, advances			$ 22,567,000
Receivable from affiliate (formation loan)	6,156,000		6,156,000
RMC [Member]
General Partners And Other Related Parties Details [Line Items]
Mortgage Servicing Fees Waived	0	0	0	0
Operating Expenses	$ 521,000	491,000	$ 1,002,000	975,000
Maximum [Member]
General Partners And Other Related Parties Details [Line Items]
Annual mortgage servicing fees, percentage	1.50%		1.50%
Percentage of offering proceeds			7.00%
RMC and Burwell [Member]
General Partners And Other Related Parties Details [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Profit (Loss) Percentage	1.00%		1.00%
Burwell [Member]
General Partners And Other Related Parties Details [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Profit (Loss) Percentage	0.66%		0.66%
Equity Deficit Assumed by a General Partner	100.00%		100.00%
One Percent of Profits and Losses [Member] | General Partner [Member]
General Partners And Other Related Parties Details [Line Items]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 13,000	$ 15,000	$ 21,000	$ 26,000

Note 3 - General Partners and23

Note 3 - General Partners and Other Related Parties - Formation Loan Activity (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Formation Loan - Transactions [Abstract]
Balance, January 1	$ 6,284
Early withdrawal penalties	(128)
Repayments	0
Balance, June 30	$ 6,156

Note 3 - General Partners and24

Note 3 - General Partners and Other Related Parties - Formation Loan, Future Minimum Payments (Detail) $ in Thousands	Jun. 30, 2017USD ($)
Formation Loan Future Minimum Payments [Abstract]
2,017	$ 522
2,018	650
2,019	650
2,020	650
2,021	650
Thereafter	3,034
Total	$ 6,156

Note 4 - Loans (Detail)

Note 4 - Loans (Detail)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)LoanInterestMortgageLoan	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)LoanInterestMortgageLoan	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)LoanMortgageLoan
Loans Details [Line Items]
Loans Receivable Number of Loans | Loan	75		75		75
Loans Receivable, Percent	100.00%		100.00%		100.00%
Loans Receivable, Term			5 years
Loans Receivable, Number of Interest Only Loans | Interest	30		30
Loans Receivable, Amortization Term			30 years
Mortgage Loans on Real Estate, Number of Loans Renewed | MortgageLoan	3		3
Loans - principal renewed (in Dollars) | $	$ 8,617,000		$ 8,617,000
Loans Receivable Largest Loan (in Dollars) | $	14,000,000		14,000,000		$ 14,000,000
Revenue, loans | $	2,227,000	$ 1,711,000	$ 4,228,000	$ 3,119,000
Mortgage Loans on Real Estate, Number of Loans | MortgageLoan			75		75
Allowance for loan losses | $	0		$ 0		$ 0
Modifications of Secured Loan [Member]
Loans Details [Line Items]
Mortgage Loans on Real Estate, Number of Loans | MortgageLoan			0
Workout Agreements [Member]
Loans Details [Line Items]
Mortgage Loans on Real Estate, Number of Loans | MortgageLoan			0
Troubled Debt Restructuring [Member]
Loans Details [Line Items]
Mortgage Loans on Real Estate, Number of Loans | MortgageLoan			0		1
Repayment date of loan			2017-01
Past Due 90 Days Or More [Member]
Loans Details [Line Items]
Loans Receivable, Interest Accrual, Period			90 days
Revenue, loans | $			$ 7,062,000
Mortgage Loans on Real Estate, Number of Loans | MortgageLoan			2		1
Mortgage Loan balance | $	$ 781,000		$ 781,000		$ 405,000
Minimum [Member]
Loans Details [Line Items]
Loans Receivable, Remaining Term			5 years
Five Year Term or Less [Member]
Loans Details [Line Items]
Loans Receivable Number of Loans | Loan	61		61
Loans Receivable, Percent	81.00%		81.00%
Loans Receivable, Percent of Aggregate Principal	97.00%		97.00%
Interest Only [Member]
Loans Details [Line Items]
Loans Receivable, Percent	40.00%		40.00%
Loans Receivable, Percent of Aggregate Principal	67.00%		67.00%
Largest Loan [Member]
Loans Details [Line Items]
Loans Receivable, Percent	11.10%		11.10%
Loans Receivable, Percent of Assets	9.30%		9.30%
Loans Receivable, Yield of Loan Acquired	7.25%		7.25%
Loans Receivable, Maturity Date			Jan. 1, 2019

Note 4 - Loans - Secured Loan P

Note 4 - Loans - Secured Loan Principal Transactions (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Receivables [Abstract]
Principal, beginning of period	$ 98,654		$ 94,851
Loans funded	35,070		42,868
Loans acquired from affiliates	1,000		1,000
Principal payments received	(8,947)	$ (11,660)	(12,942)	$ (16,634)
Principal, end of period	$ 125,777		$ 125,777

Note 4 - Loans - Secured Loans

Note 4 - Loans - Secured Loans Characteristics (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2017USD ($)LoanMortgageLoanCounty	Dec. 31, 2016USD ($)LoanMortgageLoanCounty	Mar. 31, 2017USD ($)
Secured Loan Transactions [Line Items]
Number of secured loans | Loan	75	75
Secured loans - principal (in Dollars)	$ 125,777,000	$ 94,851,000	$ 98,654,000
Average secured loan - principal (in Dollars)	$ 1,677,000	$ 1,265,000
Average principal as percent of total principal	1.30%	1.30%
Average principal as percent of partners’ capital, net of formation loan	1.10%	0.80%
Average principal as percent of total assets	1.10%	0.80%
Largest secured loan - principal (in Dollars)	$ 14,000,000	$ 14,000,000
Largest principal as percent of total principal	11.10%	14.80%
Largest principal as percent of partners’ capital, net of formation loan	9.30%	8.70%
Largest principal as percent of total assets	9.30%	8.70%
Smallest secured loan - principal (in Dollars)	$ 46,000	$ 48,000
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 counties where security is located (all California) | County	20	24
Largest percentage of principal in one county	20.60%	23.10%
Number of secured loans with a filed notice of default | MortgageLoan	75	75
Secured loans in foreclosure - principal (in Dollars)	$ 403,000	$ 405,000
Minimum [Member]
Secured Loan Transactions [Line Items]
Secured loans – interest rate (fixed)	5.00%	5.00%
Maximum [Member]
Secured Loan Transactions [Line Items]
Secured loans – interest rate (fixed)	10.50%	10.50%
Filed Notice of Default [Member]
Secured Loan Transactions [Line Items]
Number of secured loans with a filed notice of default | MortgageLoan	1	1

Note 4 - Loans - Secured Loan28

Note 4 - Loans - Secured Loans by Lien Position in the Collateral (Detail) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2017USD ($)MortgageLoan	Dec. 31, 2016USD ($)MortgageLoan	Mar. 31, 2017USD ($)
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Loans - principal (in Dollars)		$ 125,777	$ 94,851	$ 98,654
Liens due other lenders at loan closing (in Dollars)		52,189	35,054
Total debt (in Dollars)		177,966	129,905
Appraised property value at loan closing (in Dollars)		$ 332,298	$ 245,329
Percent of total debt to appraised values (LTV) at loan closing	[1]	56.00%	54.00%
Loans - percent		100.00%	100.00%
Loans | MortgageLoan		75	75
First Trust Deeds [Member]
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Loans - principal (in Dollars)		$ 98,940	$ 73,712
Loans - percent		79.00%	78.00%
Loans | MortgageLoan		48	48
Second Trust Deeds [Member]
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Loans - principal (in Dollars)		$ 23,837	$ 18,139
Loans - percent		19.00%	19.00%
Loans | MortgageLoan		26	26
Third Trust Deeds [Member]
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Loans - principal (in Dollars)		$ 3,000	$ 3,000
Loans - percent		2.00%	3.00%
Loans | MortgageLoan		1	1
[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 of the amount owing on senior liens to other lenders.

Note 4 - Loans - Secured Loan29

Note 4 - Loans - Secured Loans by Property Type (Detail) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2017USD ($)MortgageLoan	Dec. 31, 2016USD ($)MortgageLoan	Mar. 31, 2017USD ($)
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of loans | MortgageLoan		75	75
Loans - principal (in Dollars) | $		$ 125,777	$ 94,851	$ 98,654
Loans - percent		100.00%	100.00%
Single Family [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of loans | MortgageLoan	[1]	45	48
Loans - principal (in Dollars) | $	[1]	$ 44,266	$ 31,773
Loans - percent	[1]	35.00%	34.00%
Multi-family [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of loans | MortgageLoan		3	3
Loans - principal (in Dollars) | $		$ 4,289	$ 1,723
Loans - percent		3.00%	2.00%
Commercial [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of loans | MortgageLoan		25	22
Loans - principal (in Dollars) | $		$ 75,247	$ 59,380
Loans - percent		60.00%	61.00%
Land [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of loans | MortgageLoan		2	2
Loans - principal (in Dollars) | $		$ 1,975	$ 1,975
Loans - percent		2.00%	3.00%
[1]	Single family properties include owner-occupied and non-owner occupied 1-4 unit residential buildings, condominium units, townhouses, and condominium complexes. The single family property type as of June 30, 2017 consists of 20 loans with principal of approximately $13,473,000 that are owner occupied and 25 loans with principal of approximately $30,793,000 that are non-owner occupied. Single family property type as of December 31, 2016 consists of 21 loans with principal of approximately $11,177,000 that are owner occupied and 27 loans with principal of approximately $20,596,000 that are non-owner occupied.

Note 4 - Loans - Secured Loan30

Note 4 - Loans - Secured Loans by Property Type (Parenthetical) (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2017USD ($)MortgageLoan	Dec. 31, 2016USD ($)MortgageLoan	Mar. 31, 2017USD ($)
Loans Details [Line Items]
Mortgage Loans on Real Estate, Number of Loans | MortgageLoan	75	75
Loans - principal (in Dollars) | $	$ 125,777,000	$ 94,851,000	$ 98,654,000
Single Family Property-Owner Occupied [Member]
Loans Details [Line Items]
Mortgage Loans on Real Estate, Number of Loans | MortgageLoan	20	21
Loans - principal (in Dollars) | $	$ 13,473,000	$ 11,177,000
Single Family Property-NonOwner Occupied [Member]
Loans Details [Line Items]
Mortgage Loans on Real Estate, Number of Loans | MortgageLoan	25	27
Loans - principal (in Dollars) | $	$ 30,793,000	$ 20,596,000

Note 4 - Loans - Secured Loan31

Note 4 - Loans - Secured Loans Distributed within California (Detail) - USD ($) $ in Thousands		Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 125,777	$ 98,654	$ 94,851
Loans - percent		100.00%		100.00%
San Francisco [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 25,874		$ 7,204
Loans - percent		20.60%		7.60%
Contra Costa [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 16,860		$ 16,863
Loans - percent		13.40%		17.70%
San Mateo [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 15,716		$ 11,267
Loans - percent		12.50%		11.90%
Alameda [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 11,916		$ 6,626
Loans - percent		9.50%		7.00%
Solano [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 2,875		$ 1,875
Loans - percent		2.30%		2.00%
Santa Clara [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 2,852		$ 9,938
Loans - percent		2.30%		10.50%
Marin [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 1,600		$ 849
Loans - percent		1.30%		0.90%
Napa [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 951		$ 956
Loans - percent		0.70%		1.00%
Amador [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 760		$ 770
Loans - percent		0.60%		0.80%
San Francisco Bay Area [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)	[1]	$ 78,644		$ 55,578
Loans - percent	[1]	62.60%		58.60%
Sacramento [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 3,300		$ 2,118
Loans - percent		2.50%		2.20%
El Dorado [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 2,044		$ 2,044
Loans - percent		1.60%		2.20%
Monterey [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 1,846		$ 4,007
Loans - percent		1.50%		4.20%
Santa Cruz [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 811		$ 852
Loans - percent		0.60%		0.90%
Lake [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 297		$ 298
Loans - percent		0.20%		0.30%
Mariposa [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 46		$ 48
Loans - percent		0.10%		0.10%
Calaveras [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)				$ 151
Loans - percent				0.20%
San Benito [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)				$ 94
Loans - percent				0.10%
Other Northern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 9,104		$ 10,382
Loans - percent		7.10%		11.00%
Northern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 87,748		$ 65,960
Loans - percent		69.70%		69.60%
Los Angeles [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 24,981		$ 21,876
Loans - percent		19.90%		23.00%
Orange [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 6,667		$ 3,765
Loans - percent		5.30%		4.00%
Riverside [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 193		$ 289
Loans - percent		0.20%		0.30%
San Diego [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 164		$ 2,464
Loans - percent		0.10%		2.60%
Ventura [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)				$ 271
Loans - percent				0.30%
Los Angeles And Coastal [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 31,812		$ 28,376
Loans - percent		25.30%		29.90%
San Bernardino [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 6,024		$ 124
Loans - percent		4.80%		0.10%
Kern [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)				$ 102
Loans - percent				0.10%
Other Southern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 6,217		$ 515
Loans - percent		5.00%		0.50%
Southern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Loans - principal (in Dollars)		$ 38,029		$ 28,891
Loans - percent		30.30%		30.40%
[1]	Includes the Silicon Valley

Note 4 - Loans - Secured Loan32

Note 4 - Loans - Secured Loans Summarized by Payment Delinquency (Detail) $ in Thousands	Jun. 30, 2017USD ($)MortgageLoan	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)MortgageLoan
Past Due
Delinquent loans, number | MortgageLoan	75		75
Loans, amount | $	$ 125,777	$ 98,654	$ 94,851
Past Due 30-89 Days [Member]
Past Due
Delinquent loans, number | MortgageLoan			1
Loans, amount | $			$ 164
Past Due 90-179 Days [Member]
Past Due
Delinquent loans, number | MortgageLoan	2		1
Loans, amount | $	$ 781		$ 405
Past Due 180 Days or More [Member]
Past Due
Delinquent loans, number | MortgageLoan	1
Loans, amount | $	$ 164
Past Due [Member]
Past Due
Delinquent loans, number | MortgageLoan	3		2
Loans, amount | $	$ 945		$ 569
Current [Member]
Past Due
Delinquent loans, number | MortgageLoan	72		73
Loans, amount | $	$ 124,832		$ 94,282

Note 4 - Loans - Secured Loan33

Note 4 - Loans - Secured Loans Scheduled Maturities (Detail) $ in Thousands		Jun. 30, 2017USD ($)Loan	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)Loan
Receivables [Abstract]
2017, Loan | Loan	[1]	7
2018, Loan | Loan		24
2019, Loan | Loan		23
2020, Loan | Loan		11
2021, Loan | Loan		7
Thereafter, Loan | Loan		3
Total secured loan balance, Loan | Loan		75		75
2017, Principal | $	[1]	$ 7,660
2018, Principal | $		46,479
2019, Principal | $		59,626
2020, Principal | $		8,275
2021, Principal | $		1,983
Thereafter, Principal | $		1,754
Total secured loan balance, Principal | $		$ 125,777	$ 98,654	$ 94,851
2017, Percent	[1]	6.00%
2018, Percent		37.00%
2019, Percent		47.00%
2020, Percent		7.00%
2021, Percent		2.00%
Thereafter, Percent		1.00%
Total secured loan balance, Percent		100.00%
[1]	Loans maturing in 2017 from July 1 to December 31.

Note 4 - Loans - Secured Loan34

Note 4 - Loans - Secured Loans in Non-Accrual Status (Detail) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017USD ($)MortgageLoan	Dec. 31, 2016USD ($)MortgageLoan	Mar. 31, 2017USD ($)
Loans Details Secured Loans In Non-accrual Status [Line Items]
Number of loans | MortgageLoan	75	75
Loans - principal (in Dollars)	$ 125,777	$ 94,851	$ 98,654
Accrued interest	$ 894	$ 641
Non-accrual Status [Member]
Loans Details Secured Loans In Non-accrual Status [Line Items]
Number of loans | MortgageLoan	2	1
Loans - principal (in Dollars)	$ 402	$ 234
Accrued interest	4	2
Principal [Member] | Non-accrual Status [Member]
Loans Details Secured Loans In Non-accrual Status [Line Items]
Loans - principal (in Dollars)	392	230
Advances [Member] | Non-accrual Status [Member]
Loans Details Secured Loans In Non-accrual Status [Line Items]
Loans - principal (in Dollars)	$ 6	$ 2

Note 4 - Loans - Secured Loan35

Note 4 - Loans - Secured Loans Designated as Impaired Loans (Detail) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2017USD ($)Loan	Dec. 31, 2016USD ($)Loan
Secured Loans Designated as Impaired Loans [Abstract]
Principal		$ 392	$ 230
Recorded investment	[1]	402	234
Impaired loans without allowance		$ 402	$ 234
Number of Loans | Loan		2	1
[1]	Recorded investment is the sum of principal, advances, and interest accrued for financial reporting purposes.

Note 4 - Loans - Impaired Loans

Note 4 - Loans - Impaired Loans - Average Balances and Interest Income (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Impaired Loans - Average Balances and Interest Income [Abstract]
Average recorded investment	$ 318	$ 509
Interest income recognized	16	27
Interest income received in cash	$ 12	$ 27

Note 5 - Real Estate Owned (REO

Note 5 - Real Estate Owned (REO) - REO, Held for Sale (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Reo Held For Sale [Abstract]
Balance, beginning of period	$ 18,635	$ 19,782
Dispositions	(6,077)	(7,292)
Improvements/betterments	65	133
Balance, end of period	$ 12,623	$ 12,623

Note 5 - Real Estate Owned (R38

Note 5 - Real Estate Owned (REO) - REO, Held for Sale, by Property Type (Detail) $ in Thousands	Jun. 30, 2017USD ($)Property	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)Property
Real Estate Acquired Through Foreclosure Or Similar Procedures [Line Items]
REO, held for sale, net book value	$ 12,623	$ 18,635	$ 19,782
Rental Properties Held as Investment [Member]
Real Estate Acquired Through Foreclosure Or Similar Procedures [Line Items]
REO, held for sale, number of properties | Property	4		5
REO, held for sale, net book value	$ 9,015		$ 16,174
Non-Rental Held as Investment [Member]
Real Estate Acquired Through Foreclosure Or Similar Procedures [Line Items]
REO, held for sale, number of properties | Property	3		3
REO, held for sale, net book value	$ 3,608		$ 3,608
REO Held as Investment [Member]
Real Estate Acquired Through Foreclosure Or Similar Procedures [Line Items]
REO, held for sale, number of properties | Property	7		8
REO, held for sale, net book value	$ 12,623		$ 19,782

Note 5 - Real Estate Owned (R39

Note 5 - Real Estate Owned (REO) (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)aProperty	Mar. 31, 2017USD ($)Property	Jun. 30, 2017USD ($)aProperty	Dec. 31, 2016USD ($)
Real Estate Owned REO Details [Line Items]
Mortgages payable | $	$ 0		$ 0	$ 0
Residential Properties [Member]
Real Estate Owned REO Details [Line Items]
Lease term			1 year
Commercial [Member]
Real Estate Owned REO Details [Line Items]
Lease term			3 years
Lease, Periodic Payment (in Dollars) | $			$ 85,000
Lease, Expiration Period			2017-08
Rental Property [Member]
Real Estate Owned REO Details [Line Items]
Number of Real Estate Properties	4		4
Non Rental Held For Sale [Member] | Residential Single Family [Member]
Real Estate Owned REO Details [Line Items]
Number of Real Estate Properties	3		3
Contra Costa [Member] | Rental Property Held For Sale [Member] | Commercial Property [Member]
Real Estate Owned REO Details [Line Items]
Number of Real Estate Properties	1		1
Los Angeles [Member] | Condominium Complex [Member]
Real Estate Owned REO Details [Line Items]
Number of Units in Real Estate Property	38	42	38
Gains (Losses) on Sales of Other Real Estate (in Dollars) | $	$ 240,000	$ 102,000
Los Angeles [Member] | Rental Property Held For Sale [Member] | Condominium Complex [Member]
Real Estate Owned REO Details [Line Items]
Number of Units in Real Estate Property	24		24
Los Angeles [Member] | Sold [Member] | Condominium Complex [Member]
Real Estate Owned REO Details [Line Items]
Number of Units in Real Estate Property	14	4	14
San Francisco County [Member] | Condominium Complex [Member]
Real Estate Owned REO Details [Line Items]
Number of Units in Real Estate Property	8		8
Gains (Losses) on Sales of Other Real Estate (in Dollars) | $	$ 448,000
San Francisco County [Member] | Rental Property Held For Sale [Member] | Commercial Property [Member]
Real Estate Owned REO Details [Line Items]
Number of Real Estate Properties	1		1
San Francisco County [Member] | Rental Property Held For Sale [Member] | Condominium Complex [Member]
Real Estate Owned REO Details [Line Items]
Number of Units in Real Estate Property	5		5
San Francisco County [Member] | Sold [Member] | Condominium Complex [Member]
Real Estate Owned REO Details [Line Items]
Number of Units in Real Estate Property	3		3
Fresno County California [Member] | Non Rental Held For Sale [Member] | Residential Single Family [Member]
Real Estate Owned REO Details [Line Items]
Number of Units in Real Estate Property	1		1
Marin County [Member] | Non Rental Held For Sale [Member] | Residential Single Family [Member]
Real Estate Owned REO Details [Line Items]
Area of Real Estate Property (in Acres) | a	13		13
Stanislaus County [Member] | Non Rental Held For Sale [Member] | Residential Single Family [Member]
Real Estate Owned REO Details [Line Items]
Area of Real Estate Property (in Acres) | a	14		14
Ventura [Member] | Parking Lot [Member]
Real Estate Owned REO Details [Line Items]
Gains (Losses) on Sales of Other Real Estate (in Dollars) | $	$ 71,000
Ventura [Member] | Sold [Member] | Parking Lot [Member]
Real Estate Owned REO Details [Line Items]
Number of Units in Real Estate Property	3		3

Note 5 - Real Estate Owned (R40

Note 5 - Real Estate Owned (REO) - Earnings/(Loss) from Rental Operations of the Real Estate Owned (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Professional services	$ 385,000	$ 478,000	$ 640,000	$ 757,000
Total operations expense	1,481,000	1,457,000	2,721,000	2,620,000
Interest on mortgages		274,000		502,000
Rental operations, net of mortgage interest	(190,000)	375,000	(324,000)	763,000
REO Held for Sale [Member]
Rental income	62,000	1,414,000	269,000	2,781,000
Administration and payroll	25,000	198,000	56,000	383,000
Homeowner association fees	39,000	115,000	82,000	230,000
Professional services	3,000	16,000	13,000	26,000
Utilities and maintenance	108,000	183,000	310,000	388,000
Advertising and promotions		4,000	1,000	9,000
Property taxes	36,000	188,000	79,000	397,000
Other	40,000	59,000	49,000	81,000
Total operations expense	251,000	763,000	590,000	1,514,000
Net operating income	(189,000)	651,000	(321,000)	1,267,000
Receiver fees	1,000	2,000	3,000	2,000
Rental operations, net	(190,000)	649,000	(324,000)	1,265,000
Interest on mortgages		274,000		502,000
Rental operations, net of mortgage interest	$ (190,000)	$ 375,000	$ (324,000)	$ 763,000

Note 6 - Fair Value (Detail)

Note 6 - Fair Value (Detail)	Jun. 30, 2017USD ($)
Fair Value Disclosures [Abstract]
Assets measured at fair value on non-recurring basis	$ 0
Liabilities measured at fair value on non-recurring basis	$ 0

Note 7 - Commitment and Conting

Note 7 - Commitment and Contingencies, Other Than Loan and REO Commitments - Scheduled Capital Account Withdrawal Requests (Detail) $ in Thousands	Jun. 30, 2017USD ($)
Partners Capital Account Withdrawals [Abstract]
2,017	$ 10,862
2,018	17,868
2,019	13,621
2,020	6,774
2,021	3,256
Thereafter	652
Total	$ 53,033