Redwood Mortgage Investors Viii 10-Q 12 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2019shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
No Trading Symbol Flag	true
Entity Registrant Name	REDWOOD MORTGAGE INVESTORS VIII
Entity Central Index Key	0000889123
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding	0
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-27816
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	94-3158788
Entity Address, Address Line One	177 Bovet Road
Entity Address, Address Line Two	Suite 520
Entity Address, City or Town	San Mateo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94402
City Area Code	(650)
Local Phone Number	365-5341

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Cash, in banks	$ 2,989	$ 13,607
Loans, Secured by deeds of trust
Principal	96,132	97,438
Advances	143	52
Accrued interest	821	701
Prepaid interest	(248)	(341)
Loan balance, secured	96,848	97,850
Allowance for loan losses	0	0
Loans, net	96,848	97,850
Real estate owned (REO)	4,153	4,153
Other assets, net	52	113
Total assets	104,042	115,723
LIABILITIES AND PARTNERS' CAPITAL
Liabilities - accounts payable and accrued liabilities	472	388
Commitments and Contingencies (Note 7)
Partners’ capital
Limited partners’ capital	108,998	121,012
General partners’ deficit	(712)	(734)
Total partners’ capital	108,286	120,278
Receivable from manager (formation loan)	(4,716)	(4,943)
Partners’ capital, net of formation loan	103,570	115,335
Total liabilities and partners’ capital	$ 104,042	$ 115,723

Consolidated Income Statements

Consolidated Income Statements (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Interest income	$ 2,103	$ 2,769	$ 4,309	$ 5,176
Late fees	8	56	18	64
Gain on sale, loans		7		7
Revenue, loans	2,111	2,832	4,327	5,247
Recovery of loan losses		(7)		(13)
Operations expense
Mortgage servicing fees	364	398	756	871
Asset management fees	108	132	221	270
Costs from Redwood Mortgage Corp.	307	401	628	876
Professional services	183	284	401	516
REO, net (Note 5)	35	59	62	31
Other	19	20	18	(44)
Total operations expense	1,016	1,294	2,086	2,520
Net income	1,095	1,545	2,241	2,740
Limited partners (99%)	1,084	1,530	2,219	2,713
General partners (1%)	$ 11	$ 15	$ 22	$ 27

Consolidated Income Statement_2

Consolidated Income Statements (Unaudited) (Parenthetical)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
General partners	1.00%	1.00%	1.00%	1.00%
Redwood Mortgage Investors VIII [Member]
Limited partners	99.00%	99.00%	99.00%	99.00%

Statements of Changes in Partne

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, 2017		$ 146,791	$ (785)	$ 146,006
Net income	$ 2,740	2,713	27	2,740
Distributions		(1,332)		(1,332)
Liquidations		(14,130)		(14,130)
Ending balance at Jun. 30, 2018		134,042	(758)	133,284
Beginning balance at Mar. 31, 2018		140,167	(773)	139,394
Net income	1,545	1,530	15	1,545
Distributions		(650)		(650)
Liquidations		(7,005)		(7,005)
Ending balance at Jun. 30, 2018		134,042	(758)	133,284
Beginning balance at Dec. 31, 2018	115,335	121,012	(734)	120,278
Net income	2,241	2,219	22	2,241
Distributions		(1,196)		(1,196)
Liquidations		(13,037)		(13,037)
Ending balance at Jun. 30, 2019	103,570	108,998	(712)	108,286
Beginning balance at Mar. 31, 2019		115,047	(723)	114,324
Net income	1,095	1,084	11	1,095
Distributions		(604)		(604)
Liquidations		(6,529)		(6,529)
Ending balance at Jun. 30, 2019	$ 103,570	$ 108,998	$ (712)	$ 108,286

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Cash from Operations
Interest received	$ 2,074	$ 3,169	$ 4,097	$ 5,635
Other loan income	8	51	18	59
Operations expense	(957)	(1,271)	(1,880)	(2,392)
Rental operations, net		1		22
Holding costs	(35)	(79)	(62)	(144)
Total cash provided by operations	1,090	1,871	2,173	3,180
Cash from Investing Activities
Principal collected on loans - secured	12,455	20,007	27,700	29,919
Loans transferred to affiliates				5,890
Loans sold to non-affiliate, net		7,247		7,247
Unsecured loan payments received		11		17
Loans originated	(9,219)	(4,800)	(26,394)	(5,400)
Advances received on loans	(91)	44	(91)	428
Total - Loans	3,145	22,509	1,215	38,101
Sales		410		2,042
Total - REO		410		2,042
Total cash provided by investing activities	3,145	22,919	1,215	40,143
Distributions to partners
Cash – partner liquidations	(6,529)	(7,005)	(13,037)	(14,130)
Formation loan payment, net of early withdrawal fees	116	175	227	358
Cash – partner distributions	(604)	(650)	(1,196)	(1,332)
Cash Distributions to partners, net	(7,017)	(7,480)	(14,006)	(15,104)
Total cash used in financing activities	(7,017)	(7,480)	(14,006)	(15,104)
Net (decrease) increase in cash	(2,782)	17,310	(10,618)	28,219
Cash, beginning of period	5,771	12,632	13,607	1,723
Cash, end of period	2,989	29,942	2,989	29,942
Net income	1,095	1,545	2,241	2,740
Adjustments to reconcile net income to net cash provided by operating activities
(Gain) on sale, loans		(7)		(7)
REO – gain on disposal		(20)		(113)
Change in operation assets and liabilities
Prepaid interest	20		(93)
Accrued interest	(50)	400	(120)	458
Other assets	8	(6)	61	17
Accounts payable and other liabilities	17	(41)	84	89
Payable to affiliate				(4)
Total cash provided by operations	$ 1,090	$ 1,871	$ 2,173	$ 3,180

Organization and General

Organization and General	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Organization and General	NOTE 1 – ORGANIZATION AND GENERAL In the opinion of the management of Redwood Mortgage Corp. (RMC or the manager), 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, 2018 filed with the U.S. Securities and Exchange Commission (SEC). The results of operations for the three and six month period ended June 30, 2019 are not necessarily indicative of the operations results to be expected for the full year. Redwood Mortgage Investors VIII, a California Limited Partnership (RMI VIII or the partnership), was formed in 1993 to engage in business as a mortgage lender and investor by making and holding-for-investment mortgage loans secured by California real estate, primarily by first and second deeds of trust. The partnership is externally managed by RMC, a general partner. The general partners are Redwood Mortgage Corp. and Michael R. Burwell (Burwell), an individual. The manager is solely responsible for managing the business and affairs of RMI VIII, subject to the voting rights of the partners on specified matters. The manager acting alone has the power and authority to act for and bind the partnership. RMC provides the personnel and services necessary to conduct the business as RMI VIII has no employees of its own. The general partner is required to contribute to capital one tenth of one percent (0.1%) of the aggregate capital accounts of the partners. The mortgage loans the partnership funds and/or invests in, are arranged and generally are serviced by RMC. The rights, duties, and powers of the limited partners and general partners of the partnership are governed by the Limited Partnership Agreement (Partnership Agreement). The following is a summary of certain provisions of the Partnership Agreement and is qualified in its entirety by the terms of the agreement itself. Limited partners should refer to the Partnership Agreement for complete disclosure of its provisions. The partnership’s primary investment objectives are to: • yield a high rate of return from mortgage lending, after the payment of certain fees and expenses to the general partners and their affiliates; and, • preserve and protect the partnership’s capital. The ongoing sources of funds for loans are the proceeds from: • loan payoffs; • borrowers’ monthly principal and interest payments; • earnings retained (i.e. not distributed) in partners’ capital accounts; • REO sales; • loan sales; • payments from RMC on the outstanding balance of the formation loan; and, • a line of credit, if obtained. The partnership intends to hold until repayment the loans in which it invests and does not presently intend to invest in mortgage loans primarily for the purpose of reselling such loans in the ordinary course of business; however, the partnership may sell mortgage loans (or fractional interests therein) when the manager determines that it appears to be advantageous for the partnership to do so, based upon then current interest rates, the length of time that the loan has been held by the partnership, the partnership’s credit risk and concentration risk and the overall investment objectives of the partnership. Loans sold to third parties may be sold for par, at a premium or, in the case of non-performing or under performing loans, at a discount. Partnership loans may be sold to third parties or to the manager or its affiliates; however, any loan sold to the manager or an affiliate thereof will not be sold for a purchase price less than the par value of the loan or the fair market value of the loan, whichever is greater. The manager will not receive commissions or broker fees with respect loan sales conducted for the partnership; however, selling loans will increase partnership capital available for investing in new loans for which the manager will earn brokerage fees and other forms of compensation. Income or loss are allocated among the limited partners according to their respective capital accounts after one percent (1%) of income or loss are allocated to the general partners. Beginning in 2010, and continuing until January 1, 2020, RMC assigned its right to two-thirds of one percent (0.66%) of income or losses to Burwell in exchange for Burwell assuming one hundred percent (100%) of the general partners’ equity deficit. The monthly results are subject to subsequent adjustment as a result of quarterly and year-end accounting and reporting. Investors should not expect the partnership to provide tax benefits of the type commonly associated with limited partnership tax shelter investments. Federal and state income taxes are the obligation of the partners, other than the annual California franchise tax and the California LLC cash receipts taxes paid by the partnership’s subsidiaries. Limited partners representing a majority of the outstanding units may, without the consent of the general partners, vote to: • dissolve the partnership; • amend the Partnership Agreement subject to certain limitations; • approve or disapprove the sale of all or substantially all of the assets of the partnership; and • 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. Distribution to limited partners At the time of their subscription to the partnership, limited partners elected either to receive monthly, quarterly or annual cash distributions from the partnership, or to compound income in their capital account. If an investor initially elected to receive monthly, quarterly or annual distributions, such election, once made, is irrevocable. If the investor initially elected to compound income in their capital account, in lieu of cash distributions, the investor may, after three (3) years, change the election and receive monthly, quarterly or annual cash distributions. Income allocable to limited partners who elect to compound income in their capital account will be retained by the partnership for making further loans or for other proper partnership purposes and such amounts will be added to such limited partners’ capital accounts. The percentage of limited partners electing distribution of allocated net income, by weighted average to total partners’ capital was 62% and 61% at June 30, 2019 and 2018. Liquidity, capital withdrawals and early withdrawals There are substantial restrictions on transferability of units, and there is no established public trading and/or secondary market for the units. To provide liquidity to limited partners, the Partnership Agreement provides that limited partners, after the minimum five-year period, may withdraw all or a portion of their capital accounts in 20 quarterly installments or longer, as determined by the general partners in light of partnership cash flow, beginning the last day of the calendar quarter following the quarter in which the notice of withdrawal is given. A limited partner may liquidate all or a part of the limited partner’s capital account in four quarterly installments beginning on the last day of the calendar quarter following the quarter in which the notice of withdrawal is given, subject to a 10% early withdrawal penalty applicable to any sums withdrawn prior to the time when such sums could have been withdrawn without penalty. There is a limited right of accelerated liquidation for an investor’s heirs upon an investor’s death. The partnership has not established a cash reserve from which to fund redemptions and, accordingly, the partnership’s capacity to return a limited partner’s capital is subject to the availability of partnership cash. The general partner is under no obligation to sell loans from the portfolio in order to honor redemption requests, and the program can be restricted or suspended at any time. Cash flow is considered to be available only after all current partnership expenses have been paid (including compensation to the general partners and affiliates) and adequate provision has been made for the payment of all periodic cash distributions on a pro rata basis which must be paid to limited partners who elected to receive such distributions upon subscription for units. Per the Partnership Agreement, no more than 20% of the total limited partners’ capital account balances at the beginning of any year may be liquidated during any calendar year. Notwithstanding this 20%, the general partners shall have the discretion to further limit the percentage of total limited partners’ capital accounts that may be withdrawn in order to comply with the safe harbor provisions of the regulations under Section 7704 of the Internal Revenue Code of 1986, as amended, to avoid the partnership being taxed as a corporation. If notices of withdrawal in excess of these limitations are received by the general partners, the priority of distributions among limited partners shall be determined as follows: first to those limited partners withdrawing capital accounts according to the 20 quarter or longer installment liquidation period, then to Benefit Plan Investors withdrawing capital accounts after five years over four quarterly installments, then to executors, heirs, and other administrators withdrawing capital accounts upon the death of a limited partner and finally to all other limited partners withdrawing capital accounts. Except as provided above, withdrawal requests will be considered by the general partners in the order received . Lending guidelines The partnership’s loans generally have shorter maturities than typical mortgages. In the event that a loan is performing, and collection is deemed probable at maturity, the partnership 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, the partnership may elect to modify the loan payment terms and place the designated loan as impaired, or may foreclose and take back the property for sale. Generally, interest rates on the partnership’s mortgage loans have not been affected by market movements in interest rates. If, as expected, the partnership continues 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, the partnership could see a significant increase in borrower prepayments. If the partnership then invests 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. The excess of the value of the collateral securing the loan over the partnership’s debt and any senior debt owing on the property is the “protective equity.” The partnership believes its LTV policy provides more potential protective equity than competing lenders who fund loans with a higher LTV. However, the partnership may be viewed as an “asset” lender based on its emphasis on LTV in its 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, 2019
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. Reclassifications Certain reclassifications, not affecting previously reported net income or total partner capital, have been made to the previously issued consolidated financial statements to conform to the current period presentation. Management estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions about the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities, at the dates of the financial statements and the reported amounts of revenues and expenses during the reported periods. Such estimates relate principally to the determination of the allowance for loan losses, including, when applicable, the valuation of impaired loans (which itself requires determining the fair value of the collateral), and the valuation of real estate 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: • independent; • knowledgeable; • able to transact; and, • 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: • market comparables or sales approach; • cost to replace; and, • 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, 2019, substantially all of the partnership’s cash balances in banks exceed the federal depository insurance limit of $250,000.The bank or banks in which funds are deposited are reviewed periodically for their general credit worthiness/investment grade credit rating. Loans and interest income Performing loans are carried at amortized costs which is generally equal to the unpaid principal balance (principal). Management has discretion to pay amounts (advances) to third parties on behalf of borrowers to protect the partnership’s interest in the loan. Advances include, but are not limited to, the payment of interest and principal on a senior lien to prevent foreclosure by the senior lien holder, property taxes, insurance premiums, and attorney fees. Advances generally are stated at the unpaid principal balance and accrue interest until repaid by the borrower. For performing loans, interest is accrued daily on the principal plus advances, if any. Impaired loans less than 180 days delinquent continue to recognize interest income as long as the loan is in the process of collection and is considered to be well-secured. Impaired loans are placed on non-accrual status if 180 days delinquent or 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. Late fees are recognized in the period received. 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. 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 delay or 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. The partnership originates loans with the intent to hold the loans until maturity. From time to time the partnership may sell certain loans. Loans are classified as held-for-sale once a decision has been made to sell loans and the loans held-for-sale have been identified. In 2019 and 2018 certain performing loans were sold at an immaterial gain (net of expenses). Therefore, the recorded amount of the preforming loans (i.e., the loan balance) is deemed to approximate 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 collection of the amount owed is assured, including foregone interest, if any). Allowance for loan losses Loans and the related accrued interest and advances (i.e. the loan balance) are analyzed on a periodic basis for ultimate recoverability. Collateral fair values are reviewed quarterly and the protective equity for each loan is computed. As used herein, “protective equity” is the dollar amount by which the fair value of the collateral, net of any senior liens, exceeds the loan balance, where “loan balance” is the sum of the unpaid principal, advances and the recorded interest thereon. 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 partnership 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 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. Recently issued accounting pronouncements- Accounting and Financial Reporting for Expected Credit Losses The Financial Account 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 the current incurred credit loss model and generally may result in allowances being recognized in earlier periods than under the current credit loss model. The manager expects to adopt the ASU for interim and annual reporting in 2020. RMI VIII invests in real estate secured loans made with the expectation that the possibility of credit losses is remote as a result of substantial protective equity provided by the underlying collateral. The real estate secured programs and low loan-to-value ratios have caused RMC to conclude that the adoption of the CECL model from the incurred loss models presently in use as to credit loss recognition will likely not materially impact the reported results of operations or financial position.

General Partners and Other Rela

General Partners and Other Related Parties	6 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
General Partners and Other Related Parties	NOTE 3 – GENERAL PARTNERS AND OTHER RELATED PARTIES The Partnership Agreement provides for compensation of the manager, as detailed below, and for the general partners. The general partners are entitled to 1% of the profits and losses of the partnership. 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. Asset 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). 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 partnership 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. 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. - Other fees – During the six months ended June 30, 2018, the partnership transferred two performing loans in-full to Redwood Mortgage Investors IX, LLC, an affiliated mortgage fund, at par value, which approximates fair value, of approximately $5,890,000. The partnership received cash for the transfer and has no continuing obligation or involvement on the assigned loans. No loans were transferred during the six months ended June 30, 2019. 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.” The primary source of the repayments made by RMC on the formation loan is expected to be loan brokerage commissions. As of June 30, 2019, the partnership had made such advances of approximately $22,567,000, of which approximately $4,716,000 remain outstanding on the formation loan. If the general partners are removed and RMC is no longer receiving payments for services rendered, the formation loan is forgiven, per the terms of the partnership agreement. The formation loan activity is summarized in the following table for the six months ended June 30, 2019 ($ in thousands). 2019 Balance, January 1 $ 4,943 Early withdrawal penalties (227 ) Repayments — Balance, June 30 $ 4,716 The future minimum payments on the formation loan, net of early withdrawal penalties, as of June 30, 2019 are presented in the following table ($ in thousands). 2019 $ 423 2020 650 2021 650 2022 650 2023 650 Thereafter 1,693 Total $ 4,716 RMC is required to make annual payments on the formation loan, net of early withdrawal penalties. Limited partner capital withdrawals The table below sets forth withdrawals of limited partner capital for the three and six months ended June 30, 2019 and 2018 ($ in thousands). For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Capital liquidations-without penalty $ 5,371 $ 4,887 $ 10,761 $ 9,788 Capital liquidations-subject to penalty 1,158 2,118 2,276 4,342 Total $ 6,529 $ 7,005 $ 13,037 $ 14,130 Scheduled liquidations, at June 30 $ 43,394 $ 51,866 $ 43,394 $ 51,866 Scheduled limited partners’ capital withdrawal requests are presented in the following table ($ in thousands). 2019 $ 10,924 2020 13,712 2021 9,083 2022 5,995 2023 3,072 Thereafter 608 Total $ 43,394

Loans

Loans	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Loans	NOTE 4 – LOANS Loans generally are funded at a fixed interest rate with a loan term of up to five years. Loans acquired are generally done so within the first six months of origination, and purchased at the current part value, which approximates fair value. As of June 30, 2019, 44 (81%) of the partnership’s 54 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, 2019, 22 (41%) of the loans outstanding (representing 65% 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, 2019 ($ in thousands). Three months ended Six months ended Principal, beginning of period $ 99,368 $ 97,438 Loans originated 9,219 26,394 Principal payments received (12,455 ) (27,700 ) Principal, June 30, 2019 $ 96,132 $ 96,132 On July 29, 2019, the partnership sold to an unaffiliated third party, (the buyer) three loans with an aggregate principal balance of $7,741,415 at a price that netted an immaterial gain (the July 2019 loan sale). They buyer has 30 days from the sale to request a refund of the gain on sale for any loans that pay in full. Two loans with an aggregate principal balance of approximately $4,500,000 were renewed during the three months ended June 30, 2019. Four loans with an aggregate principal balance of approximately $5,008,000 were renewed during the six months ended June 30, 2019. See Note 3 (General Partners and Other Related Parties) for a description of loan transfers by executed assignments to affiliates. The partnership originates loans with the intent to hold the loans until maturity. From time to time the partnership may sell certain loans. Borrower payments are deposited into a bank trust account established by RMC, pursuant to California regulations, and subsequently are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. At June 30, 2019, the trust account held $20,360 in borrower payments, which was disbursed to the partnership’s bank account on or before July 17, 2019. Loan characteristics Secured loans had the characteristics presented in the following table as ($ in thousands). June 30, December 31, 2019 2018 Number of secured loans 54 56 Secured loans – principal $ 96,132 $ 97,438 Secured loans – lowest interest rate (fixed) 5.0 % 5.0 % Secured loans – highest interest rate (fixed) 10.5 % 10.5 % Average secured loan – principal $ 1,780 $ 1,740 Average principal as percent of total principal 1.9 % 1.8 % Average principal as percent of partners’ capital, net of formation loan 1.7 % 1.5 % Average principal as percent of total assets 1.7 % 1.5 % Largest secured loan – principal $ 9,100 $ 10,900 Largest principal as percent of total principal 9.5 % 11.2 % Largest principal as percent of partners’ capital, net of formation loan 8.8 % 9.5 % Largest principal as percent of total assets 8.7 % 9.4 % Smallest secured loan – principal $ 8 $ 56 Smallest principal as percent of total principal 0.1 % 0.1 % Smallest principal as percent of partners’ capital, net of formation loan 0.1 % 0.1 % Smallest principal as percent of total assets 0.1 % 0.1 % Number of California counties where security is located 17 18 Largest percentage of principal in one California county 22.2 % 26.7 % Number of secured loans with a filed notice of default — — Secured loans in foreclosure – principal $ — $ — Number of secured loans with prepaid interest 2 1 Prepaid interest $ 248 $ 341 As of June 30, 2019, the partnership’s largest loan, with an unpaid principal balance of approximately $9,100,000, had an interest rate of 9.00%, was secured by a commercial building in Santa Clara County, had a maturity of February 1, 2020, and paid in full in July 2019. As of June 30, 2019, the partnership’s second largest loan, with an unpaid principal balance of approximately $6,300,000 (representing 6.6% of outstanding secured loans and 6.1% of partnership total assets), had an interest rate of 8.25%, was secured by a multifamily property in San Francisco, and had a maturity of April 1, 2020. As of June 30, 2019, the partnership had no outstanding construction or rehabilitation loans and no commitments to fund construction, rehabilitation or other loans. Lien position At funding, secured loans had the following lien positions and are presented in the following table as of June 30, 2019 and December 31, 2018 ($ in thousands). June 30, 2019 December 31, 2018 Loans Principal Percent Loans Principal Percent First trust deeds 34 $ 81,845 85 % 34 $ 80,348 82 % Second trust deeds 20 14,287 15 22 17,090 18 Total principal, secured loans 54 $ 96,132 100 % 56 $ 97,438 100 % Liens due other lenders at loan closing 29,808 37,632 Total debt $ 125,940 $ 135,070 Appraised property value at loan closing $ 243,054 $ 258,134 Percent of total debt to appraised values (LTV) at loan closing ( 1) 55.6 % 55.0 % (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. The three loans with a principal balance of $7,741,415 in the July 2019 loan sale were all secured by first deeds of trust. Property type Secured loans summarized by property type are presented in the following table as of June 30, 2019 and December 31, 2018 ($ in thousands). June 30, 2019 December 31, 2018 Loans Principal Percent Loans Principal Percent Single family ( 2) 35 $ 35,959 37 % 32 $ 35,956 36 % Multi-family 2 6,412 7 3 1,713 2 Commercial 16 53,376 55 20 59,319 61 Land 1 385 1 1 450 1 Total principal, secured loans 54 $ 96,132 100 % 56 $ 97,438 100 % (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, 2019 consists of 17 loans with principal of approximately $12,106,000 that are owner occupied and 18 loans with principal of approximately $23,853,000 that are non-owner occupied. Single family property type at December 31, 2018 consisted of 16 loans with principal of approximately $12,839,000 that are owner occupied and 16 loans with principal of approximately $23,054,000 that are non-owner occupied. Distribution by California counties The distribution of secured loans outstanding by the California county in which the primary collateral is located is presented in the following table as of June 30, 2019 and December 31, 2018 ($ in thousands). June 30, 2019 December 31, 2018 Principal Percent Principal Percent San Francisco Bay Area ( 3) San Francisco $ 21,359 22.2 % $ 26,026 26.7 % San Mateo 21,243 22.0 23,122 23.7 Santa Clara 11,559 12.0 3,789 3.9 Alameda 4,214 4.4 4,212 4.2 Napa 554 0.6 559 0.6 Marin 334 0.4 849 0.9 Contra Costa 311 0.3 314 0.2 Solano 8 — 3,560 3.7 59,582 61.9 62,431 63.9 Other Northern California Santa Cruz 2,075 2.1 2,121 2.1 Amador 728 0.8 737 0.8 Monterey 486 0.5 489 0.5 Mariposa 54 0.2 56 0.1 Sacramento — — 3,300 3.4 3,343 3.6 6,703 6.9 Total Northern California 62,925 65.5 69,134 70.8 Los Angeles & Coastal Los Angeles 16,718 17.4 18,236 18.7 Santa Barbara 2,092 2.2 2,099 2.2 Orange 1,702 1.8 654 0.7 20,512 21.4 20,989 21.6 Other Southern California San Bernardino 11,280 11.6 5,900 6.1 Riverside 1,415 1.5 1,415 1.5 12,695 13.1 7,315 7.6 Total Southern California 33,207 34.5 28,304 29.2 Total principal, secured loans $ 96,132 100.0 % $ 97,438 100.0 % (3) Includes the Silicon Valley Scheduled maturities Secured loans are scheduled to mature as presented in the following table as of June 30, 2019 ($ in thousands). Scheduled maturities, as of June 30, 2019 Loans Principal Percent 2019 (4) 10 $ 24,773 26 % 2020 21 42,326 44 2021 12 10,974 11 2022 2 2,528 3 2023 1 2,092 2 Thereafter 2 1,235 1 Total future maturities 48 83,928 87 Matured as of June 30, 2019 6 12,204 13 Total principal, secured loans 54 $ 96,132 100 % (4) Loans scheduled to mature in 2019 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. The loans in the July 2019 sale were scheduled to mature as follows: $3,741,415 (2 loans) in 2020 and $4,000,000 (1 loan) in 2021. Matured Loans Secured loans past maturity are summarized in the following table as of June 30, 2019 ($ in thousands). June 30, 2019 Number of loans 6 Principal $ 12,204 Advances — Accrued interest 361 Total secured loan balance past maturity $ 12,565 Principal past maturity as percent of total principal 13 % One loan with principal of approximately $3,293,000, which was 29 days past maturity, and 149 days delinquent at June 30, 2019, was paid in full in July 2019. Another loan, with a principal of approximately $652,000, which was 90 days delinquent and past maturity at June 30, 2019, negotiated a one year maturity extension with the manager in July 2019 and was current with their payments. Of the 6 loans past maturity at June 30, 2019, two loans with an aggregate principal balance of approximately $3,107,000, matured in June 2019, and are not listed in the delinquency table below. Delinquency Secured loans summarized by payment delinquency are presented in the following table ($ in thousands). June 30, 2019 December 31, 2018 Loans Principal Loans Principal Past Due 30-89 days 1 $ 595 1 $ 450 90-179 days 3 8,712 1 3,300 180 or more days 1 385 — — Total past due 5 $ 9,692 2 3,750 Current 49 86,440 54 93,688 Total principal, secured loans 54 $ 96,132 56 $ 97,438 One loan with principal of approximately $3,293,000, which was impaired, past maturity and 149 days delinquent at June 30, 2019, paid in full in July 2019. Another loan, with principal of approximately $652,000, which was impaired, past maturity and 90 days delinquent at June 30, 2019, negotiated a one year extension with the manager and in July and was current with their payments. Interest income of approximately $336,000 and $88,000 was accrued on loans contractually past due 90 days or more as to principal and/or interest payments as of June 30, 2019 and December 31, 2018, respectively. All loans 90 or more days delinquent were past maturity at June 30, 2019. Loans in non-accrual status Secured loans in non-accrual status are summarized in the following table as of June 30, 2019 and December 31, 2018 ($ in thousands) June 30, December 31, 2019 2018 Number of loans 1 — Principal $ 385 $ — Advances — — Accrued interest 17 — Total recorded investment $ 402 $ Foregone interest $ 9 $ — One loan with a principal balance of approximately $385,000 was in non-accrual status at June 30, 2019. The loan was past maturity and 241 days delinquent at June 30, 2019. No loans were in non-accrual status December 31, 2018. At June 30, 2019, three loans with an aggregate principal balance of approximately $8,712,000 were contractually 90 or more days past due as to principal or interest and not in non-accrual status. At December 31, 2018, one loan with a principal balance of approximately $3,300,000 was contractually 90 or more days past due as to principal or interest and not in non-accrual status. Loans designated impaired Impaired loans had the balances shown and the associated allowance for loan losses presented in the following table as of June 30, 2019 and December 31, 2018 ($ in thousands). June 30, December 31, 2019 2018 Principal $ 12,036 $ 3,300 Recorded investment ( 6) 12,395 3,388 Impaired loans without allowance 12,395 3,388 Impaired loans with allowance — — Allowance for loan losses, impaired loans — — Number of Loans 5 1 LTV 58.2 % 36.1 % (6) Recorded investment is the sum of principal, advances, and interest accrued for financial reporting purposes. Five and one loans were designated as impaired at June 30, 2019 and December 31, 2018, respectively. One with a principal balance of approximately $3,293,000, which was designated as impaired, past maturity and 149 days delinquent at June 30, 2019, paid in full in July 2019. Another loan, with principal of approximately $652,000, which was impaired, past maturity and 90 days delinquent at June 30, 2019, negotiated a one year extension with the manager and in July and was current with their payments. No allowance for loan losses as been recorded as all loans were deemed to have protective equity (i.e., low loan-to-value ratio) such that collection is reasonably assured for all amounts owing. Impaired loans had the average balances and interest income recognized and received in cash as presented in the following table as of, and for, the six months ended June 30, 2019 and the year ended December 31, 2018 ($ in thousands). June 30, December 31, 2019 2018 Average recorded investment $ 7,891 $ 5,987 Interest income recognized 425 257 Interest income received in cash 367 210 Allowance for loan losses At June 30, 2019, and December 31, 2018, the partnership had no allowance for loan losses as all loans had protective equity such that at June 30, 2019, and December 31, 2018, collection was deemed probable for amounts owing. Modifications, workout agreements and troubled debt restructurings At June 30, 2019 and December 31, 2018, the partnership had no modifications, workout agreements, or troubled debt restructurings in effect.

Real Estate Owned (REO)

Real Estate Owned (REO)	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
Real Estate Owned (REO)	NOTE 5 – REAL ESTATE OWNED (REO) There were no REO transactions during the three and six months ended June 30, 2019. During the six months ended June 30, 2018, the partnership sold 6 units in a condominium complex in Los Angeles County with a gain of approximately $113,000, which decreased REO by approximately $1,928,000. The partnership held the following four properties, with a carrying value of approximately $4,153,000 which approximated the net realizable value, at June 30, 2019: • In San Francisco County, 3 residential units in a condominium complex • 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 REO, net is comprised of the following components for the three and six months ended June 30, 2019 and 2018. Three Months Ended June 30 Six Months Ended June 30 2019 2018 2019 2018 Holding costs, net of other income $ (35 ) $ (79 ) $ (62 ) $ (144 ) Gains/(losses) on sales — 20 — 113 Valuation adjustment — — — — REO, net $ (35 ) $ (59 ) $ (62 ) $ (31 ) Rental operations were substantially wound down, and all residential rental units had been made vacant for sale in all periods presented. As such, there were no rental operations during the three and six months ended June 30, 2018 and 2019.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value	NOTE 6 – FAIR VALUE Loans In 2019 and 2018 certain performing loans were sold at an immaterial gain (net of expenses). Therefore, the recorded amount of the preforming loans (i.e., the loan balance) is deemed to approximate 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 collection of the amount owed is assured, including foregone interest, if any). Loans designated impaired (i.e. that are collateral dependent) are measured at fair value on a non-recurring basis when the net realizable value of the real property collateral is determined to be less than the loan balance. No impaired loans were measured at fair value on a non-recurring basis at and for the periods ended June 30, 2019 or December 31, 2018. REO The partnership does not record REO at fair value on a recurring basis. The following assets and liabilities would be measured at fair value on a non-recurring basis. • REO acquired through foreclosure during the year. • REO for which a valuation reserve or valuation reserve adjustment has been recorded. 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. The fair value of loan balances secured by deeds of trust is deemed to approximate the recorded amount (per the financial statements) as our loans: • are of shorter terms at origination than commercial real estate loans by institutional lenders; • are written without a prepayment penalty causing uncertainty/a lack of predictability as to the expected duration of the loan; and • have limited marketability and are not yet sellable into an established secondary market. Secured loans, designated impaired (Level 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 sales comparables (comps) via its subscription to the RealQuest service, but also uses free online services such as Zillow.com and other available resources to supplement this data. Sale comps are reviewed 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.

Commitments and Contingencies,

Commitments and Contingencies, Other Than Loan and REO Commitments	6 Months Ended
	Jun. 30, 2019
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 for scheduled limited partners’ capital withdrawal requests at June 30, 2019. See Note 3 (General Partners and Other Related Parties) for a detailed review of scheduled limited partners’ capital withdrawal requests. Future recovery under an agreement with a borrower Pursuant to the terms of an October 21, 2011 workout agreement dated October 21, 2011, between RMI VIII and a borrower in default on certain loans secured by various California properties, RMI VIII obtained by assignment from the developer of those properties a non-voting economic interest in the developer’s LLC membership interest in a joint venture, in an amount equal to 25% of all distributions of profit and return of invested capital attributable to that LLC membership interest, but excluding management and development fees, payable to the developer from certain other subsequent joint ventures from which the developer receives a share of the proceeds upon sale of the to be developed properties. In August of 2018, control and ownership of a property in a joint venture subject to the agreement transferred to the majority member in the joint venture at a profit. The amount of the profit is being determined by the members and is not distributable until the remaining property/asset is liquidated by the venture. However, as of the date of the financial statements, the determination of the amount of the profit, and the amount to be distributed to the developer, to which RMI VIII would have a claim of 25%, has not been completed and/or agreed upon by the members of the joint venture. The members have the option to retain the amounts – and to not distribute – if they elect to proceed with the development of the remaining property held by the joint venture. In 2016, RMI VIII received approximately $3.5 million from completed projects subject to the workout agreement and assignment of economic interest. It is expected that the proceeds from the current joint venture, if distributed and not held pending development of the remaining project, would be substantially less than the 2016 amount. Due to the uncertainty as to the amount and timing of the distribution, if any, no recognition was recorded in the financial statements as of June 30, 2019 and December 31, 2018 for the future recovery of amounts. 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, 2019
Subsequent Events [Abstract]
Subsequent Events	NOTE 8 – SUBSEQUENT EVENTS On July 29, 2019, the partnership sold to an unaffiliated third party, (the buyer) three loans with an aggregate principal balance of $7,741,415 at a price that netted an immaterial gain (the July 2019 loan sale). They buyer has 30 days from the sale to request a refund of the gain on sale for any loans that pay in full.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The partnership’s consolidated financial statements include the accounts of the partnership, its wholly-owned subsidiaries (consisting of single-member limited liability companies owning a single real property asset). All significant intercompany transactions and balances have been eliminated in consolidation.
Reclassifications	Reclassifications Certain reclassifications, not affecting previously reported net income or total partner capital, have been made to the previously issued consolidated financial statements to conform to the current period presentation.
Management Estimates	Management estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions about the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities, at the dates of the financial statements and the reported amounts of revenues and expenses during the reported periods. Such estimates relate principally to the determination of the allowance for loan losses, including, when applicable, the valuation of impaired loans (which itself requires determining the fair value of the collateral), and the valuation of real estate 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: • independent; • knowledgeable; • able to transact; and, • 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: • market comparables or sales approach; • cost to replace; and, • 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, 2019, substantially all of the partnership’s cash balances in banks exceed the federal depository insurance limit of $250,000.The bank or banks in which funds are deposited are reviewed periodically for their general credit worthiness/investment grade credit rating.
Loans and Interest Income	Loans and interest income Performing loans are carried at amortized costs which is generally equal to the unpaid principal balance (principal). Management has discretion to pay amounts (advances) to third parties on behalf of borrowers to protect the partnership’s interest in the loan. Advances include, but are not limited to, the payment of interest and principal on a senior lien to prevent foreclosure by the senior lien holder, property taxes, insurance premiums, and attorney fees. Advances generally are stated at the unpaid principal balance and accrue interest until repaid by the borrower. For performing loans, interest is accrued daily on the principal plus advances, if any. Impaired loans less than 180 days delinquent continue to recognize interest income as long as the loan is in the process of collection and is considered to be well-secured. Impaired loans are placed on non-accrual status if 180 days delinquent or 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. Late fees are recognized in the period received. 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. 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 delay or 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. The partnership originates loans with the intent to hold the loans until maturity. From time to time the partnership may sell certain loans. Loans are classified as held-for-sale once a decision has been made to sell loans and the loans held-for-sale have been identified. In 2019 and 2018 certain performing loans were sold at an immaterial gain (net of expenses). Therefore, the recorded amount of the preforming loans (i.e., the loan balance) is deemed to approximate 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 collection of the amount owed is assured, including foregone interest, if any).
Allowance for Loan Losses	Allowance for loan losses Loans and the related accrued interest and advances (i.e. the loan balance) are analyzed on a periodic basis for ultimate recoverability. Collateral fair values are reviewed quarterly and the protective equity for each loan is computed. As used herein, “protective equity” is the dollar amount by which the fair value of the collateral, net of any senior liens, exceeds the loan balance, where “loan balance” is the sum of the unpaid principal, advances and the recorded interest thereon. 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 partnership 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 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.
Recently Issued Accounting Pronouncements	Recently issued accounting pronouncements- Accounting and Financial Reporting for Expected Credit Losses The Financial Account 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 the current incurred credit loss model and generally may result in allowances being recognized in earlier periods than under the current credit loss model. The manager expects to adopt the ASU for interim and annual reporting in 2020. RMI VIII invests in real estate secured loans made with the expectation that the possibility of credit losses is remote as a result of substantial protective equity provided by the underlying collateral. The real estate secured programs and low loan-to-value ratios have caused RMC to conclude that the adoption of the CECL model from the incurred loss models presently in use as to credit loss recognition will likely not materially impact the reported results of operations or financial position.

General Partners and Other Re_2

General Partners and Other Related Parties (Tables)	6 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Schedule of Formation Loan Activity	The formation loan activity is summarized in the following table for the six months ended June 30, 2019 ($ in thousands). 2019 Balance, January 1 $ 4,943 Early withdrawal penalties (227 ) Repayments — Balance, June 30 $ 4,716
Formation Loan, Future Minimum Payments Net of Early Withdrawal Penalties	The future minimum payments on the formation loan, net of early withdrawal penalties, as of June 30, 2019 are presented in the following table ($ in thousands). 2019 $ 423 2020 650 2021 650 2022 650 2023 650 Thereafter 1,693 Total $ 4,716
Schedule of Withdrawals of Limited Partner Capital	The table below sets forth withdrawals of limited partner capital for the three and six months ended June 30, 2019 and 2018 ($ in thousands). For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Capital liquidations-without penalty $ 5,371 $ 4,887 $ 10,761 $ 9,788 Capital liquidations-subject to penalty 1,158 2,118 2,276 4,342 Total $ 6,529 $ 7,005 $ 13,037 $ 14,130 Scheduled liquidations, at June 30 $ 43,394 $ 51,866 $ 43,394 $ 51,866
Scheduled Capital Account Withdrawal Requests	Scheduled limited partners’ capital withdrawal requests are presented in the following table ($ in thousands). 2019 $ 10,924 2020 13,712 2021 9,083 2022 5,995 2023 3,072 Thereafter 608 Total $ 43,394

Loans (Tables)

Loans (Tables)	6 Months Ended
	Jun. 30, 2019
Secured Loan Principal Transactions	Secured loan transactions are summarized in the following table for the three and six months ended June 30, 2019 ($ in thousands). Three months ended Six months ended Principal, beginning of period $ 99,368 $ 97,438 Loans originated 9,219 26,394 Principal payments received (12,455 ) (27,700 ) Principal, June 30, 2019 $ 96,132 $ 96,132
Secured Loans Characteristics	Secured loans had the characteristics presented in the following table as ($ in thousands). June 30, December 31, 2019 2018 Number of secured loans 54 56 Secured loans – principal $ 96,132 $ 97,438 Secured loans – lowest interest rate (fixed) 5.0 % 5.0 % Secured loans – highest interest rate (fixed) 10.5 % 10.5 % Average secured loan – principal $ 1,780 $ 1,740 Average principal as percent of total principal 1.9 % 1.8 % Average principal as percent of partners’ capital, net of formation loan 1.7 % 1.5 % Average principal as percent of total assets 1.7 % 1.5 % Largest secured loan – principal $ 9,100 $ 10,900 Largest principal as percent of total principal 9.5 % 11.2 % Largest principal as percent of partners’ capital, net of formation loan 8.8 % 9.5 % Largest principal as percent of total assets 8.7 % 9.4 % Smallest secured loan – principal $ 8 $ 56 Smallest principal as percent of total principal 0.1 % 0.1 % Smallest principal as percent of partners’ capital, net of formation loan 0.1 % 0.1 % Smallest principal as percent of total assets 0.1 % 0.1 % Number of California counties where security is located 17 18 Largest percentage of principal in one California county 22.2 % 26.7 % Number of secured loans with a filed notice of default — — Secured loans in foreclosure – principal $ — $ — Number of secured loans with prepaid interest 2 1 Prepaid interest $ 248 $ 341
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, 2019 and December 31, 2018 ($ in thousands). June 30, 2019 December 31, 2018 Loans Principal Percent Loans Principal Percent First trust deeds 34 $ 81,845 85 % 34 $ 80,348 82 % Second trust deeds 20 14,287 15 22 17,090 18 Total principal, secured loans 54 $ 96,132 100 % 56 $ 97,438 100 % Liens due other lenders at loan closing 29,808 37,632 Total debt $ 125,940 $ 135,070 Appraised property value at loan closing $ 243,054 $ 258,134 Percent of total debt to appraised values (LTV) at loan closing ( 1) 55.6 % 55.0 % (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, 2019 and December 31, 2018 ($ in thousands). June 30, 2019 December 31, 2018 Loans Principal Percent Loans Principal Percent Single family ( 2) 35 $ 35,959 37 % 32 $ 35,956 36 % Multi-family 2 6,412 7 3 1,713 2 Commercial 16 53,376 55 20 59,319 61 Land 1 385 1 1 450 1 Total principal, secured loans 54 $ 96,132 100 % 56 $ 97,438 100 % (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, 2019 consists of 17 loans with principal of approximately $12,106,000 that are owner occupied and 18 loans with principal of approximately $23,853,000 that are non-owner occupied. Single family property type at December 31, 2018 consisted of 16 loans with principal of approximately $12,839,000 that are owner occupied and 16 loans with principal of approximately $23,054,000 that are non-owner occupied.
Secured Loans Distributed within California	The distribution of secured loans outstanding by the California county in which the primary collateral is located is presented in the following table as of June 30, 2019 and December 31, 2018 ($ in thousands). June 30, 2019 December 31, 2018 Principal Percent Principal Percent San Francisco Bay Area ( 3) San Francisco $ 21,359 22.2 % $ 26,026 26.7 % San Mateo 21,243 22.0 23,122 23.7 Santa Clara 11,559 12.0 3,789 3.9 Alameda 4,214 4.4 4,212 4.2 Napa 554 0.6 559 0.6 Marin 334 0.4 849 0.9 Contra Costa 311 0.3 314 0.2 Solano 8 — 3,560 3.7 59,582 61.9 62,431 63.9 Other Northern California Santa Cruz 2,075 2.1 2,121 2.1 Amador 728 0.8 737 0.8 Monterey 486 0.5 489 0.5 Mariposa 54 0.2 56 0.1 Sacramento — — 3,300 3.4 3,343 3.6 6,703 6.9 Total Northern California 62,925 65.5 69,134 70.8 Los Angeles & Coastal Los Angeles 16,718 17.4 18,236 18.7 Santa Barbara 2,092 2.2 2,099 2.2 Orange 1,702 1.8 654 0.7 20,512 21.4 20,989 21.6 Other Southern California San Bernardino 11,280 11.6 5,900 6.1 Riverside 1,415 1.5 1,415 1.5 12,695 13.1 7,315 7.6 Total Southern California 33,207 34.5 28,304 29.2 Total principal, secured loans $ 96,132 100.0 % $ 97,438 100.0 % (3) Includes the Silicon Valley
Secured Loans Scheduled Maturities	Secured loans are scheduled to mature as presented in the following table as of June 30, 2019 ($ in thousands). Scheduled maturities, as of June 30, 2019 Loans Principal Percent 2019 (4) 10 $ 24,773 26 % 2020 21 42,326 44 2021 12 10,974 11 2022 2 2,528 3 2023 1 2,092 2 Thereafter 2 1,235 1 Total future maturities 48 83,928 87 Matured as of June 30, 2019 6 12,204 13 Total principal, secured loans 54 $ 96,132 100 % (4) Loans scheduled to mature in 2019 from July 1 to December 31.
Secured Loans Past Maturity	Secured loans past maturity are summarized in the following table as of June 30, 2019 ($ in thousands). June 30, 2019 Number of loans 6 Principal $ 12,204 Advances — Accrued interest 361 Total secured loan balance past maturity $ 12,565 Principal past maturity as percent of total principal 13 %
Secured Loans in Non-Accrual Status	Loans in non-accrual status Secured loans in non-accrual status are summarized in the following table as of June 30, 2019 and December 31, 2018 ($ in thousands) June 30, December 31, 2019 2018 Number of loans 1 — Principal $ 385 $ — Advances — — Accrued interest 17 — Total recorded investment $ 402 $ Foregone interest $ 9 $ —
By Days Past Due [Member]
Past Due Financing Receivables	Secured loans summarized by payment delinquency are presented in the following table ($ in thousands). June 30, 2019 December 31, 2018 Loans Principal Loans Principal Past Due 30-89 days 1 $ 595 1 $ 450 90-179 days 3 8,712 1 3,300 180 or more days 1 385 — — Total past due 5 $ 9,692 2 3,750 Current 49 86,440 54 93,688 Total principal, secured loans 54 $ 96,132 56 $ 97,438
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, 2019 and December 31, 2018 ($ in thousands). June 30, December 31, 2019 2018 Principal $ 12,036 $ 3,300 Recorded investment ( 6) 12,395 3,388 Impaired loans without allowance 12,395 3,388 Impaired loans with allowance — — Allowance for loan losses, impaired loans — — Number of Loans 5 1 LTV 58.2 % 36.1 % (6) 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 six months ended June 30, 2019 and the year ended December 31, 2018 ($ in thousands). June 30, December 31, 2019 2018 Average recorded investment $ 7,891 $ 5,987 Interest income recognized 425 257 Interest income received in cash 367 210

Real Estate Owned (REO) (Tables

Real Estate Owned (REO) (Tables)	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
Summary of REO, Net	REO, net is comprised of the following components for the three and six months ended June 30, 2019 and 2018. Three Months Ended June 30 Six Months Ended June 30 2019 2018 2019 2018 Holding costs, net of other income $ (35 ) $ (79 ) $ (62 ) $ (144 ) Gains/(losses) on sales — 20 — 113 Valuation adjustment — — — — REO, net $ (35 ) $ (59 ) $ (62 ) $ (31 )

Organization and General - Addi

Organization and General - Additional Information (Details) - Installment	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Organizational and General Details [Line Items]
Ownership interest held by the general partner	1.00%	1.00%	1.00%	1.00%
Percentage of net income distributed to limited partners capital			62.00%	61.00%
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%
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%
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] | Internal Revenue Code [Member]
Organizational and General Details [Line Items]
Number of Quarterly Installments for Withdrawal From Partnership			20
Limited Partner [Member] | After Five Year Period [Member]
Organizational and General Details [Line Items]
Number of Quarterly Installments for Withdrawal From Partnership			20
Benefit Plan Investors [Member] | After Five Year Period [Member] | Internal Revenue Code [Member]
Organizational and General Details [Line Items]
Number of Quarterly Installments for Withdrawal From Partnership			4
RMC [Member]
Organizational and General Details [Line Items]
Ownership interest held by the general partner			0.10%
Percentage of income or loss allocated			0.66%
General partner equity deficit			100.00%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)	6 Months Ended
	Jun. 30, 2019USD ($)Approach
Summary of Significant Accounting Policies Details [Line Items]
Estimating real property value, number of approaches | Approach	3
Cash and cash equivalents, maximum initial maturity	3 months
Threshold period past due for impaired loans placed on non-accrual status	180 days
Interest reserve minimum length	1 year
Interest reserve maximum length	2 years
Minimum [Member]
Summary of Significant Accounting Policies Details [Line Items]
Residential lease term	1 year
Maximum [Member]
Summary of Significant Accounting Policies Details [Line Items]
Residential lease term	2 years
Federal depository insurance limit | $	$ 250,000
Threshold period past due for impaired loans to recognize interest income	180 days

General Partners and Other Re_3

General Partners and Other Related Parties - Additional Information (Details)	6 Months Ended
	Jun. 30, 2019USD ($)Loan	Jun. 30, 2018USD ($)Loan
General Partners And Other Related Parties Details [Line Items]
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).
Loan Brokerage Commissions, Maximum Percent of Assets	4.00%
Number of performing loans | Loan	0	2
Performing loans mortgaged, par value		$ 5,890,000
Formation Loan [Member]
General Partners And Other Related Parties Details [Line Items]
Formation loan, advances	$ 22,567,000
Receivable from affiliate (formation loan)	$ 4,716,000
Maximum [Member]
General Partners And Other Related Parties Details [Line Items]
Annual mortgage servicing fees, percentage	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%

General Partners and Other Re_4

General Partners and Other Related Parties - Formation Loan Activity (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Formation Loan - Transactions [Abstract]
Balance, January 1	$ 4,943
Early withdrawal penalties	(227)
Repayments	0
Balance, June 30	$ 4,716

General Partners and Other Re_5

General Partners and Other Related Parties - Formation Loan, Future Minimum Payments Net of Early Withdrawal Penalties (Details) $ in Thousands	Jun. 30, 2019USD ($)
Formation Loan Future Minimum Payments [Abstract]
2019	$ 423
2020	650
2021	650
2022	650
2023	650
Thereafter	1,693
Total	$ 4,716

General Partners and Other Re_6

General Partners and Other Related Parties - Schedule of Withdrawals of Limited Partner Capital (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
General Partners And Other Related Parties Details [Line Items]
Scheduled liquidations, at June 30	$ 43,394		$ 43,394
Limited Partner [Member]
General Partners And Other Related Parties Details [Line Items]
Scheduled liquidations, at June 30	43,394	$ 51,866	43,394	$ 51,866
Limited Partner [Member] | Capital Liquidations-without Penalty [Member]
General Partners And Other Related Parties Details [Line Items]
Total, Capital liquidations	5,371	4,887	10,761	9,788
Limited Partner [Member] | Capital Liquidations-subject to Penalty [Member]
General Partners And Other Related Parties Details [Line Items]
Total, Capital liquidations	1,158	2,118	2,276	4,342
Limited Partner [Member] | Capital Subject to Liquidation Net [Member]
General Partners And Other Related Parties Details [Line Items]
Total, Capital liquidations	$ 6,529	$ 7,005	$ 13,037	$ 14,130

General Partners and Other Re_7

General Partners and Other Related Parties - Scheduled Capital Account Withdrawal Requests (Details) $ in Thousands	Jun. 30, 2019USD ($)
Partners Capital Account Withdrawals [Abstract]
2019	$ 10,924
2020	13,712
2021	9,083
2022	5,995
2023	3,072
Thereafter	608
Total	$ 43,394

Loans - Additional Information

Loans - Additional Information (Details)	Jul. 29, 2019USD ($)Loan	Jul. 31, 2019USD ($)MortgageLoan	Jun. 30, 2019USD ($)LoanInterestMortgageLoan	Jun. 30, 2019USD ($)LoanInterestMortgageLoan	Dec. 31, 2018USD ($)LoanMortgageLoan	Mar. 31, 2019USD ($)
Loans Details [Line Items]
Loans Receivable, Term				5 years
Loans Receivable Number of Loans | Loan			54	54	56
Loans Receivable, Percent			100.00%	100.00%	100.00%
Loans Receivable, Number of Interest Only Loans | Interest			22	22
Loans Receivable, Amortization Term				30 years
Mortgage Loans on Real Estate, Number of Loans Renewed | MortgageLoan			2	4
Loans - principal renewed (in Dollars)			$ 4,500,000	$ 5,008,000
Borrower payments held in bank trust account			20,360	20,360
Loans Receivable Largest Loan (in Dollars)			9,100,000	$ 9,100,000	$ 10,900,000
Number of secured loans | MortgageLoan				54	56
Secured loans, principal			96,132,000	$ 96,132,000	$ 97,438,000	$ 99,368,000
2020, Principal			42,326,000	42,326,000
2021, Principal			$ 10,974,000	$ 10,974,000
2020, Loan | Loan			21	21
2021, Loan | Loan			12	12
Mortgage Loans on Real Estate, Number of Loans matured | Loan			6	6
Number of loans designated as impaired | Loan			5	5	1
Allowance for loan losses			$ 0	$ 0	$ 0
Matured Loans
Loans Details [Line Items]
Number of secured loans | MortgageLoan				6
Secured loans, principal			$ 12,565,000	$ 12,565,000
Mortgage Loans on Real Estate, Number of Loans matured | Loan			2	2
Mortgage Loan balance			$ 3,107,000	$ 3,107,000
Past Due 90 Days Or More [Member]
Loans Details [Line Items]
Mortgage Loan balance			$ 8,712,000,000	8,712,000,000	3,300,000,000
Revenue, loans				$ 336,000	$ 88,000
Loans Receivable, Interest Accrual, Period				90 days	90 days
Number of loan designated impaired and non-accrual substantially paid off | MortgageLoan				3	1
29 Days Past Maturity and 149 Days Delinquent [Member]
Loans Details [Line Items]
Mortgage Loans on Real Estate, Number of Loans matured | Loan			1	1
Mortgage Loan balance			$ 3,293,000	$ 3,293,000
90 Days Delinquent And Past Maturity [Member]
Loans Details [Line Items]
Mortgage Loan balance			$ 652,000	$ 652,000
Past Maturity
Loans Details [Line Items]
Mortgage Loans on Real Estate, Number of Loans matured | Loan			6	6
Impaired Loans, Past Maturity and 149 Days Delinquent [Member]
Loans Details [Line Items]
Mortgage Loans on Real Estate, Number of Loans matured | Loan			1	1
Mortgage Loan balance			$ 3,293,000	$ 3,293,000
Impaired Loans, Past Maturity and 90 Days Delinquent [Member]
Loans Details [Line Items]
Mortgage Loan balance			$ 652,000	$ 652,000
Loan Past Maturity and 241 Days Delinquent [Member]
Loans Details [Line Items]
Mortgage Loans on Real Estate, Number of Loans matured | Loan			1	1
Mortgage Loan balance			$ 385,000	$ 385,000
Non-Accrual [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan					0
Designated as Impaired Loans [Member]
Loans Details [Line Items]
Number of loans designated as impaired | Loan			1	1
Designated As Impaired Loans, Past Maturity And 149 Days Delinquent [Member]
Loans Details [Line Items]
Mortgage Loan balance			$ 3,293,000	$ 3,293,000
Modifications of Secured Loan [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan				0	0
Workout Agreements [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan				0	0
Troubled Debt Restructuring [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan				0	0
First Trust Deeds [Member]
Loans Details [Line Items]
Loans Receivable, Percent			85.00%	85.00%	82.00%
Number of secured loans | MortgageLoan				34	34
Secured loans, principal			$ 81,845,000	$ 81,845,000	$ 80,348,000
Subsequent Event [Member]
Loans Details [Line Items]
Number of loans sold to an unaffiliated third party | Loan	3
Aggregate principal amount of loans sold to unaffiliated third party	$ 7,741,415
2020, Principal		$ 3,741,415
2021, Principal		$ 4,000,000
2020, Loan | MortgageLoan		2
2021, Loan | MortgageLoan		1
Subsequent Event [Member] | First Trust Deeds [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan		3
Secured loans, principal		$ 7,741,415
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			44	44
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			41.00%	41.00%
Loans Receivable, Percent of Aggregate Principal			65.00%	65.00%
Largest Loan [Member]
Loans Details [Line Items]
Loans Receivable, Yield of Loan Acquired			9.00%	9.00%
Loans Receivable Maturity Date				Feb. 1, 2020
Construction Loans [Member]
Loans Details [Line Items]
Loans outstanding			$ 0	$ 0
Second Largest Loan [Member]
Loans Details [Line Items]
Loans Receivable, Percent			6.60%	6.60%
Loans Receivable Largest Loan (in Dollars)			$ 6,300,000	$ 6,300,000
Loans Receivable, Yield of Loan Acquired			8.25%	8.25%
Loans Receivable Maturity Date				Apr. 1, 2020
Loans Receivable, Percent of Assets			6.10%	6.10%
Rehabilitation Loans [Member]
Loans Details [Line Items]
Loans outstanding			$ 0	$ 0

Loans - Secured Loan Principal

Loans - Secured Loan Principal Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Receivables [Abstract]
Principal, beginning of period	$ 99,368		$ 97,438
Loans originated	9,219	$ 4,800	26,394	$ 5,400
Principal payments received	(12,455)	$ (20,007)	(27,700)	$ (29,919)
Principal, June 30, 2019	$ 96,132		$ 96,132

Loans - Secured Loans Character

Loans - Secured Loans Characteristics (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)LoanMortgageLoanCounty	Dec. 31, 2018USD ($)LoanMortgageLoanCounty	Mar. 31, 2019USD ($)
Secured Loan Transactions [Line Items]
Number of secured loans | Loan	54	56
Secured loans - principal (in Dollars)	$ 96,132,000	$ 97,438,000	$ 99,368,000
Average secured loan - principal (in Dollars)	$ 1,780,000	$ 1,740,000
Average principal as percent of total principal	1.90%	1.80%
Average principal as percent of partners’ capital, net of formation loan	1.70%	1.50%
Average principal as percent of total assets	1.70%	1.50%
Largest secured loan - principal (in Dollars)	$ 9,100,000	$ 10,900,000
Largest principal as percent of total principal	9.50%	11.20%
Largest principal as percent of partners’ capital, net of formation loan	8.80%	9.50%
Largest principal as percent of total assets	8.70%	9.40%
Smallest secured loan - principal (in Dollars)	$ 8,000	$ 56,000
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 California counties where security is located | County	17	18
Largest percentage of principal in one California county	22.20%	26.70%
Number of secured loans with a filed notice of default | MortgageLoan	54	56
Prepaid interest	$ 248,000	$ 341,000
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%
Prepaid Interest [Member]
Secured Loan Transactions [Line Items]
Number of secured loans with a filed notice of default | MortgageLoan	2	1

Loans - Secured Loans by Lien P

Loans - Secured Loans by Lien Position in the Collateral (Details) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2019USD ($)MortgageLoan	Dec. 31, 2018USD ($)MortgageLoan	Mar. 31, 2019USD ($)
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Secured loans, principal		$ 96,132	$ 97,438	$ 99,368
Liens due other lenders at loan closing (in Dollars)		29,808	37,632
Total debt (in Dollars)		125,940	135,070
Appraised property value at loan closing (in Dollars)		$ 243,054	$ 258,134
Percent of total debt to appraised values (LTV) at loan closing	[1]	55.60%	55.00%
Loans - percent		100.00%	100.00%
Number of secured loans | MortgageLoan		54	56
First Trust Deeds [Member]
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Secured loans, principal		$ 81,845	$ 80,348
Loans - percent		85.00%	82.00%
Number of secured loans | MortgageLoan		34	34
Second Trust Deeds [Member]
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Secured loans, principal		$ 14,287	$ 17,090
Loans - percent		15.00%	18.00%
Number of secured loans | MortgageLoan		20	22
[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.

Loans - Secured Loans by Proper

Loans - Secured Loans by Property Type (Details) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2019USD ($)MortgageLoan	Dec. 31, 2018USD ($)MortgageLoan	Mar. 31, 2019USD ($)
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | MortgageLoan		54	56
Secured loans, principal | $		$ 96,132	$ 97,438	$ 99,368
Loans - percent		100.00%	100.00%
Single Family [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | MortgageLoan	[1]	35	32
Secured loans, principal | $	[1]	$ 35,959	$ 35,956
Loans - percent	[1]	37.00%	36.00%
Multi-family [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | MortgageLoan		2	3
Secured loans, principal | $		$ 6,412	$ 1,713
Loans - percent		7.00%	2.00%
Commercial [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | MortgageLoan		16	20
Secured loans, principal | $		$ 53,376	$ 59,319
Loans - percent		55.00%	61.00%
Land [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | MortgageLoan		1	1
Secured loans, principal | $		$ 385	$ 450
Loans - percent		1.00%	1.00%
[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, 2019 consists of 17 loans with principal of approximately $12,106,000 that are owner occupied and 18 loans with principal of approximately $23,853,000 that are non-owner occupied. Single family property type at December 31, 2018 consisted of 16 loans with principal of approximately $12,839,000 that are owner occupied and 16 loans with principal of approximately $23,054,000 that are non-owner occupied.

Loans - Secured Loans by Prop_2

Loans - Secured Loans by Property Type (Parenthetical) (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)MortgageLoan	Dec. 31, 2018USD ($)MortgageLoan	Mar. 31, 2019USD ($)
Loans Details [Line Items]
Number of secured loans | MortgageLoan	54	56
Secured loans, principal | $	$ 96,132,000	$ 97,438,000	$ 99,368,000
Single Family Property-Owner Occupied [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan	17	16
Secured loans, principal | $	$ 12,106,000	$ 12,839,000
Single Family Property-NonOwner Occupied [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan	18	16
Secured loans, principal | $	$ 23,853,000	$ 23,054,000

Loans - Secured Loans Distribut

Loans - Secured Loans Distributed within California (Details) - USD ($) $ in Thousands		Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 96,132	$ 99,368	$ 97,438
Loans - percent		100.00%		100.00%
San Francisco [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 21,359		$ 26,026
Loans - percent		22.20%		26.70%
San Mateo [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 21,243		$ 23,122
Loans - percent		22.00%		23.70%
Santa Clara [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 11,559		$ 3,789
Loans - percent		12.00%		3.90%
Alameda [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 4,214		$ 4,212
Loans - percent		4.40%		4.20%
Solano [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 8		$ 3,560
Loans - percent				3.70%
Marin [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 334		$ 849
Loans - percent		0.40%		0.90%
Napa [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 554		$ 559
Loans - percent		0.60%		0.60%
Contra Costa [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 311		$ 314
Loans - percent		0.30%		0.20%
San Francisco Bay Area [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal	[1]	$ 59,582		$ 62,431
Loans - percent	[1]	61.90%		63.90%
Santa Cruz [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 2,075		$ 2,121
Loans - percent		2.10%		2.10%
Sacramento [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal				$ 3,300
Loans - percent				3.40%
Amador [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 728		$ 737
Loans - percent		0.80%		0.80%
Monterey [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 486		$ 489
Loans - percent		0.50%		0.50%
Mariposa [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 54		$ 56
Loans - percent		0.20%		0.10%
Other Northern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 3,343		$ 6,703
Loans - percent		3.60%		6.90%
Northern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 62,925		$ 69,134
Loans - percent		65.50%		70.80%
Los Angeles [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 16,718		$ 18,236
Loans - percent		17.40%		18.70%
Santa Barbara [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 2,092		$ 2,099
Loans - percent		2.20%		2.20%
Orange [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 1,702		$ 654
Loans - percent		1.80%		0.70%
Los Angeles And Coastal [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 20,512		$ 20,989
Loans - percent		21.40%		21.60%
San Bernardino [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 11,280		$ 5,900
Loans - percent		11.60%		6.10%
Riverside [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 1,415		$ 1,415
Loans - percent		1.50%		1.50%
Other Southern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 12,695		$ 7,315
Loans - percent		13.10%		7.60%
Southern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 33,207		$ 28,304
Loans - percent		34.50%		29.20%
[1]	Includes the Silicon Valley

Loans - Secured Loans Scheduled

Loans - Secured Loans Scheduled Maturities (Details) $ in Thousands		Jun. 30, 2019USD ($)Loan	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)Loan
Receivables [Abstract]
2019, Loan | Loan	[1]	10
2020, Loan | Loan		21
2021, Loan | Loan		12
2022, Loan | Loan		2
2023, Loan | Loan		1
Thereafter, Loan | Loan		2
Total future maturities, Loan | Loan		48
Matured as of June 30, 2019, Loan | Loan		6
Total principal, secured loans, Loan | Loan		54		56
2019, Principal | $	[1]	$ 24,773
2020, Principal | $		42,326
2021, Principal | $		10,974
2022, Principal | $		2,528
2023, Principal | $		2,092
Thereafter, Principal | $		1,235
Total future maturities, Principal | $		83,928
Matured as of June 30, 2019, Principal | $		12,204
Total principal, secured loans, Principle | $		$ 96,132	$ 99,368	$ 97,438
2019, Percent	[1]	26.00%
2020, Percent		44.00%
2021, Percent		11.00%
2022, Percent		3.00%
2023, Percent		2.00%
Thereafter, Percent		1.00%
Total future maturities, Percent		87.00%
Matured as of March 31, 2019, Percent		13.00%
Total principal, secured loans, Percent		100.00%
[1]	Loans scheduled to mature in 2019 from July 1 to December 31.

Loans - Secured Loans Past Matu

Loans - Secured Loans Past Maturity (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)MortgageLoan	Dec. 31, 2018USD ($)MortgageLoan	Mar. 31, 2019USD ($)
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Number of secured loans | MortgageLoan	54	56
Secured loans, principal	$ 96,132	$ 97,438	$ 99,368
Accrued interest	$ 821	$ 701
Matured Loans
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Number of secured loans | MortgageLoan	6
Secured loans, principal	$ 12,565
Accrued interest	$ 361
Principal past maturity as percent of total principal	13.00%
Principal [Member] | Matured Loans
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Secured loans, principal	$ 12,204

Loans - Secured Loans Summarize

Loans - Secured Loans Summarized by Payment Delinquency (Details) $ in Thousands	Jun. 30, 2019USD ($)MortgageLoan	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)MortgageLoan
Past Due
Delinquent loans, number | MortgageLoan	54		56
Loans, Principal | $	$ 96,132	$ 99,368	$ 97,438
Past Due 30-89 Days [Member]
Past Due
Delinquent loans, number | MortgageLoan	1		1
Loans, Principal | $	$ 595		$ 450
Past Due 90-179 Days [Member]
Past Due
Delinquent loans, number | MortgageLoan	3		1
Loans, Principal | $	$ 8,712		$ 3,300
Past Due 180 Days or More [Member]
Past Due
Delinquent loans, number | MortgageLoan	1
Loans, Principal | $	$ 385
Past Due [Member]
Past Due
Delinquent loans, number | MortgageLoan	5		2
Loans, Principal | $	$ 9,692		$ 3,750
Current [Member]
Past Due
Delinquent loans, number | MortgageLoan	49		54
Loans, Principal | $	$ 86,440		$ 93,688

Loans - Secured Loans in Non-Ac

Loans - Secured Loans in Non-Accrual Status (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)MortgageLoan	Dec. 31, 2018USD ($)MortgageLoan	Mar. 31, 2019USD ($)
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Number of secured loans | MortgageLoan	54	56
Secured loans, principal	$ 96,132	$ 97,438	$ 99,368
Accrued interest	$ 821	$ 701
Nonaccrual Status
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Number of secured loans | MortgageLoan	1
Secured loans, principal	$ 402
Accrued interest	17
Foregone interest	9
Principal [Member] | Nonaccrual Status
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Secured loans, principal	$ 385

Loans - Secured Loans Designate

Loans - Secured Loans Designated as Impaired Loans (Details) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2019USD ($)Loan	Dec. 31, 2018USD ($)Loan
Secured Loans Designated as Impaired Loans [Abstract]
Principal		$ 12,036	$ 3,300
Recorded investment	[1]	12,395	3,388
Impaired loans without allowance		$ 12,395	$ 3,388
Number of Loans | Loan		5	1
LTV		58.20%	36.10%
[1]	Recorded investment is the sum of principal, advances, and interest accrued for financial reporting purposes.

Loans - Impaired Loans - Averag

Loans - Impaired Loans - Average Balances and Interest Income (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Impaired Loans - Average Balances and Interest Income [Abstract]
Average recorded investment	$ 7,891	$ 5,987
Interest income recognized	425	257
Interest income received in cash	$ 367	$ 210

Real Estate Owned (REO) - Addit

Real Estate Owned (REO) - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)aProperty	Jun. 30, 2018USD ($)Property	Jun. 30, 2019USD ($)aProperty	Jun. 30, 2018USD ($)Property	Dec. 31, 2018USD ($)
Real Estate Owned REO Details [Line Items]
Decrease in real estate owned		$ (410,000)		$ (2,042,000)
Carrying value of real estate properties	$ 4,153,000		$ 4,153,000		$ 4,153,000
Rental operations, net	$ 0	$ 0	$ 0	0
Partnership Property Held For Sale [Member]
Real Estate Owned REO Details [Line Items]
Number of Real Estate Properties | Property	4		4
Carrying value of real estate properties	$ 4,153,000		$ 4,153,000
Los Angeles [Member] | Condominium Complex [Member]
Real Estate Owned REO Details [Line Items]
Gains (Losses) on Sales of Other Real Estate (in Dollars)				113,000
Decrease in real estate owned				$ 1,928,000
Los Angeles [Member] | Sold [Member] | Condominium Complex [Member]
Real Estate Owned REO Details [Line Items]
Number of Units in Real Estate Property | Property		6		6
San Francisco County [Member] | Partnership Property Held For Sale [Member] | Condominium Complex [Member]
Real Estate Owned REO Details [Line Items]
Number of Units in Real Estate Property | Property	3		3
Fresno County California [Member] | Partnership Property Held For Sale [Member] | Home Subdivision [Member]
Real Estate Owned REO Details [Line Items]
Number of Units in Real Estate Property | Property	1		1
Marin County [Member] | Partnership Property 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] | Partnership Property Held For Sale [Member] | Commercial Property [Member]
Real Estate Owned REO Details [Line Items]
Area of Real Estate Property (in Acres) | a	14		14

Real Estate Owned (REO) - Summa

Real Estate Owned (REO) - Summary of REO, Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Real Estate [Abstract]
Holding costs, net of other income	$ (35)	$ (79)	$ (62)	$ (144)
Gains/(losses) on sales		20		113
REO, net	$ (35)	$ (59)	$ (62)	$ (31)

Fair Value - Additional Informa

Fair Value - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Measurements, Nonrecurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impaired loans	$ 0	$ 0

Commitment and Contingencies, O

Commitment and Contingencies, Other Than Loan and REO Commitments - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Aug. 31, 2018	Dec. 31, 2016	Oct. 21, 2011
Partners Capital Account Withdrawals [Abstract]
Percentage of membership interest equal to distributions of profit and return of invested capital			25.00%
Percentage of claim of profit and amount to be distributed to developer	25.00%
Proceeds from completed projects		$ 3.5

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent Event [Member]	Jul. 29, 2019USD ($)Loan
Subsequent Event [Line Items]
Number of loans sold to an unaffiliated third party | Loan	3
Aggregate principal amount of loans sold to unaffiliated third party | $	$ 7,741,415