Redwood Mortgage Investors Viii 10-Q 13 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2019shares
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
No Trading Symbol Flag	true
Entity Registrant Name	REDWOOD MORTGAGE INVESTORS VIII
Entity Central Index Key	0000889123
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding	0
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-27816
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	94-3158788
Entity Address, Address Line One	177 Bovet Road
Entity Address, Address Line Two	Suite 520
Entity Address, City or Town	San Mateo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94402
City Area Code	650
Local Phone Number	365-5341

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2019		Dec. 31, 2018
ASSETS
Cash, in banks	$ 9,073,000		$ 13,607,000
Loans, Secured by deeds of trust
Principal	86,190,000	[1]	97,438,000
Advances	143,000		52,000
Accrued interest	700,000		701,000
Prepaid interest	(4,000)		(341,000)
Loan balance, secured	87,029,000		97,850,000
Allowance for loan losses	0		0
Loans, net	87,029,000		97,850,000
Real estate owned (REO)	3,943,000		4,153,000
Other assets, net	89,000		113,000
Total assets	100,134,000		115,723,000
LIABILITIES AND PARTNERS' CAPITAL
Accounts payable and accrued liabilities	550,000		388,000
Payable to affiliate	318,000
Total liabilities	868,000		388,000
Commitments and Contingencies (Note 7)
Partners’ capital
Limited partners’ capital	104,578,000		121,012,000
General partners’ deficit	(692,000)		(734,000)
Total partners’ capital	103,886,000		120,278,000
Receivable from manager (formation loan)	(4,620,000)		(4,943,000)
Partners’ capital, net of formation loan	99,266,000		115,335,000
Total liabilities and partners’ capital	$ 100,134,000		$ 115,723,000
[1]	Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019.

Consolidated Income Statements

Consolidated Income Statements (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues
Interest income	$ 1,815	$ 1,983	$ 6,124	$ 7,159
Late fees	11	10	29	74
Gain on sale, loans	38		38	7
Revenue, loans	1,864	1,993	6,191	7,240
Recovery of loan losses	(1,613)		(1,613)	(13)
Operations expense
Mortgage servicing fees	330	360	1,086	1,231
Asset management fees	187	126	408	396
Costs from Redwood Mortgage Corp.	439	384	1,067	1,260
Professional services	347	180	748	696
REO, net (Note 5)	187	93	249	124
Other	(5)	(2)	13	(46)
Total operations expense	1,485	1,141	3,571	3,661
Net income	1,992	852	4,233	3,592
Limited partners (99%)	1,972	843	4,191	3,556
General partners (1%)	$ 20	$ 9	$ 42	$ 36

Consolidated Income Statement_2

Consolidated Income Statements (Unaudited) (Parenthetical) - Redwood Mortgage Investors VIII [Member]	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Limited partners	99.00%	99.00%	99.00%	99.00%
General partners	1.00%	1.00%	1.00%	1.00%

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	$ 3,592	3,556	36	3,592
Distributions		(1,916)		(1,916)
Liquidations		(21,321)		(21,321)
Ending balance at Sep. 30, 2018		127,110	(749)	126,361
Beginning balance at Jun. 30, 2018		134,042	(758)	133,284
Net income		843	9	852
Distributions		(584)		(584)
Liquidations		(7,191)		(7,191)
Ending balance at Sep. 30, 2018		127,110	(749)	126,361
Beginning balance at Dec. 31, 2018	115,335	121,012	(734)	120,278
Net income	4,233	4,191	42	4,233
Distributions		(1,765)		(1,765)
Liquidations		(18,860)		(18,860)
Ending balance at Sep. 30, 2019	99,266	104,578	(692)	103,886
Beginning balance at Jun. 30, 2019		108,998	(712)	108,286
Net income		1,972	20	1,992
Distributions		(569)		(569)
Liquidations		(5,823)		(5,823)
Ending balance at Sep. 30, 2019	$ 99,266	$ 104,578	$ (692)	$ 103,886

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash from Operations
Interest income received	$ 5,735	$ 7,554
Other loan revenue received	29	71
Operations expense	(2,819)	(3,319)
Rental operations, net		49
Holding costs	(39)	(189)
Total cash provided by operations	2,906	4,166
Cash from Investing Activities
Principal collected - secured	56,346	32,757
Loans transferred to affiliates		5,890
Loans sold to non-affiliate, net	7,832	7,247
Principal collected - unsecured		24
Loans originated	(52,838)	(23,125)
Recovery of loan losses	1,613
Prepaid interest		455
Advances received (made) on loans	(91)	428
Total - Loans	12,862	23,676
REO - sales, net		3,321
Total cash provided by (used in) investing activities	12,862	26,997
Cash from Financing Activities
Partner liquidations	(18,860)	(21,321)
Partner distributions	(1,765)	(1,916)
Formation loan payment, net of early withdrawal fees	323	538
Cash Distributions to partners, net	(20,302)	(22,699)
Total cash used in financing activities	(20,302)	(22,699)
Net (decrease) increase in cash	(4,534)	8,464
Cash, beginning of period	13,607	1,723
Cash, end of period	9,073	10,187
Net income	4,233	3,592
Adjustments to reconcile net income to net cash provided by operating activities
(Gain) on sale, loans	(38)	(7)
Recovery of loan losses	(1,613)	(13)
REO – gain on disposal		(113)
REO – impairment	210	48
Change in operation assets and liabilities
Prepaid interest	(337)
Accrued interest	(52)	395
Other assets	23	48
Accounts payable and other liabilities	162	207
Payable to affiliate	318	(4)
Total cash provided by operations	$ 2,906	$ 4,166

Organization and General

Organization and General	9 Months Ended
	Sep. 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 nine month period ended September 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 (net of withdrawals from partner capital accounts, subject to limitations) from: • loan payoffs; • borrowers’ monthly principal and interest payments; • earnings retained (i.e., not distributed) in partners’ capital accounts; • REO sales; • loan sales to unaffiliated third parties and loan transfers by executed assignment to affiliated mortgage funds; • 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 be sold in an arm’s length transaction for a purchase price equal to the greater of (i) the par value of the loan or (ii) the fair market value of the loan. The manager will not receive commissions or broker fees with respect to loan sales conducted for the partnership; however, selling loans will increase partnership capital available for investing in new loans for which the manager will earn brokerage fees and other forms of compensation. Net income (losses) are allocated among the limited partners according to their respective capital accounts after one percent (1%) of the net income (losses) are allocated to the general partners. 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 61% and 62% at September 30, 2019 and 2018, respectively. 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, and the loan proceeds are designated for business and/or investment purposes by the borrower. 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 designate the loan as impaired or may foreclose and take back the property for sale. The partnership’s loans are funded at fixed interest rates. Generally, the interest rates on the partnership’s mortgage loans have not been affected by market movements in interest rates, however, there can be no assurance that future interest rate fluctuations will not have an adverse effect on the partnership’s mortgage loans. If, as expected, the partnership continues to make and invest primarily in fixed rate loans, a rise in interest rates could result in fewer prepayments of the partnership’s loans. This increase in the duration of the time loans remain outstanding may reduce overall liquidity of the partnership’s loan portfolio, which itself could reduce the partnership’s ability to invest in new loans at higher interest rates. Conversely, if interest rates decrease, the partnership could see a significant increase in loan prepayments by borrowers. If the partnership then invests in new loans at lower rates of interest, it could result in a lower yield to partners. The cash flow and the income generated by the real property securing the loan factor into the credit decisions of the manager, as does the general creditworthiness, experience and reputation of the borrower. However, for loans secured by real property 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	9 Months Ended
	Sep. 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 September 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 cost which is generally equal to the unpaid principal balance (principal). Management has discretion to pay amounts (advances) to third parties on behalf of borrowers to protect the partnership’s interest in the loan. Advances include, but are not limited to, the payment of interest and principal on a senior lien to prevent foreclosure by the senior lien holder, property taxes, insurance premiums, and attorney fees. Advances generally are stated at the 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. Non-performing loans (i.e., loans with a payment in arears) less than 180 days delinquent continue to recognize interest income as long as the loan is in the process of collection and is considered to be well-secured. Non-performing loans are placed on non-accrual status if 180 days delinquent or earlier if management determines that the primary source of repayment will come from the foreclosure and subsequent sale of the collateral securing the loan (which usually occurs when a notice of sale is filed) or when the loan is no longer considered well-secured. When a loan is placed on non-accrual status, the accrual of interest is discontinued; 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. From time to time, the manager negotiates and enters into loan modifications with borrowers whose loans are delinquent. If a loan modification were to result in an economic concession to the borrower (i.e., a significant delay or reduction in cash flows compared to the original note), the modification is deemed a troubled debt restructuring. 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). As a result, the recorded amount of the performing loans (i.e., the loan balance), and the loan balance of loans designated impaired for which a specific reserve has not been recorded because the loan is well collateralized and management has determined that collection of the amount owed is assured, are deemed to approximate fair value. Allowance for loan losses Loans and the related accrued interest and advances (i.e., the loan balance) are analyzed on a periodic basis for ultimate recoverability. Collateral fair values are reviewed quarterly and the protective equity for each loan is computed. As used herein, “protective equity” is the dollar amount by which the net realizable value (i.e., fair value less the cost to sell) of the collateral, net of any senior liens, exceeds the loan balance, where “loan balance” is the sum of the unpaid principal, advances and the recorded interest thereon. If based upon current information and events, it is probable the partnership will be unable to collect all amounts due according to the contractual terms of the loan agreement, then a loan may be designated as impaired. 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. 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 costs to sell in arriving at net realizable value and net of any senior loans. The partnership charges off uncollectible loans and related receivables directly to the allowance account once it is determined the full amount is not collectible. Any amounts collected after a charge off is deemed a recovery of loan losses. 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 ASU is effective for smaller reporting companies and for interim and annual reporting periods in 2023. RMI VIII invests in real estate secured loans made with the expectation that the possibility of credit losses is remote as a result of substantial protective equity provided by the underlying collateral. The real estate secured programs and low loan-to-value ratios have caused RMC to expect that the adoption of the CECL model from the incurred loss models presently in use as to credit loss recognition will likely not materially impact the reported results of operations or financial position of the partnership.

General Partners and Other Rela

General Partners and Other Related Parties	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
General Partners and Other Related Parties	NOTE 3 – GENERAL PARTNERS AND OTHER RELATED PARTIES Payable to affiliate At September 30, 2019, the partnership held a payable to RMC of approximately $318,000. This payable consisted of certain asset management fees and cost reimbursements owed to the manager for certain specific costs associated with a recovery of loan losses, as well as computer and data processing expenses related to recordkeeping and reporting for the accounts of individual investors. 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 The manager acting as servicing agent with respect to all loans is entitled to receive a 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 are entitled to monthly fees for managing the partnership’s loan portfolio and operations of up to 1/32 of 1% of the “net asset value” (3/8 of 1% annually). Costs from Redwood Mortgage Corp . The manager is entitled to reimbursement 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 nine months ended September 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 with the assigned loans. No loans were transferred during the nine months ended September 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 September 30, 2019, the partnership had made such advances of approximately $22,567,000, of which approximately $4,620,000 remain outstanding on the formation loan. If the general partners are removed and RMC is no longer receiving payments for services rendered, the formation loan is forgiven, per the terms of the partnership agreement. The formation loan activity is summarized in the following table for the nine months ended September 30, 2019 ($ in thousands). 2019 Balance, January 1 $ 4,943 Early withdrawal penalties (323 ) Repayments — Balance, September 30 $ 4,620 The future minimum payments on the formation loan, net of early withdrawal penalties, as of September 30, 2019 are presented in the following table ($ in thousands). 2019 $ 327 2020 650 2021 650 2022 650 2023 650 Thereafter 1,693 Total $ 4,620 RMC is required to make annual payments on the formation loan, net of early withdrawal penalties. Limited partner capital liquidations The table below sets forth withdrawals of limited partner capital for the three and nine months ended September 30, 2019 and 2018 ($ in thousands). For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Capital liquidations-without penalty $ 4,863 $ 5,109 $ 15,624 $ 14,897 Capital liquidations-subject to penalty 960 2,082 3,236 6,424 Total $ 5,823 $ 7,191 $ 18,860 $ 21,321 Scheduled liquidations, at September 30 $ 43,769 $ 50,545 $ 43,769 $ 50,545 Scheduled limited partners’ capital liquidation requests are presented in the following table ($ in thousands). 2019 $ 5,462 2020 15,354 2021 10,156 2022 7,102 2023 4,186 Thereafter 1,509 Total $ 43,769

Loans

Loans	9 Months Ended
	Sep. 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 par value, which approximates fair value. As of September 30, 2019, 37 (79%) of the partnership’s 47 loans (representing 96% of the aggregate principal of the partnership’s loan portfolio) have a term of five years or less. The remaining loans have terms longer than five years. Substantially all loans are written without a prepayment penalty clause. As of September 30, 2019, 15 (32%) of the loans outstanding (representing 63% 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 due at maturity. Loans unpaid principal balance (principal) Secured loan transactions are summarized in the following table for the three and nine months ended September 30, 2019 ($ in thousands). Three months ended September 30, 2019 Nine months ended September 30, 2019 Principal, beginning of period $ 96,132 $ 97,438 Loans originated 26,444 52,838 Loans sold to non-affiliate (7,740 ) (7,740 ) Principal collected (28,646 ) (56,346 ) Principal, September 30, 2019 (1) $ 86,190 $ 86,190 1) Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019. In July 2019, the partnership sold to an unaffiliated third party, three loans with aggregate principal balance of approximately $7,740,000 at a price that netted an immaterial gain. One loan with a principal balance of approximately $650,000 was renewed during the three months ended September 30, 2019. Five loans with an aggregate principal balance of approximately $5,658,000 were renewed during the nine months ended September 30, 2019. See Note 3 (General Partners and Other Related Parties) for a description of loan transfers by executed assignments to affiliates. The partnership originates loans with the intent to hold the loans until maturity. From time to time the partnership may sell certain loans. Loan characteristics Secured loans had the characteristics presented in the following table as ($ in thousands). September 30, December 31, 2019 2018 Number of secured loans 47 56 Secured loans – principal $ 86,190 $ 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 $ 1,834 $ 1,740 Average principal as percent of total principal 2.1 % 1.8 % Average principal as percent of partners’ capital, net of formation loan 1.9 % 1.5 % Average principal as percent of total assets 1.8 % 1.5 % Largest secured loan – principal $ 10,200 $ 10,900 Largest principal as percent of total principal 11.8 % 11.2 % Largest principal as percent of partners’ capital, net of formation loan 10.3 % 9.5 % Largest principal as percent of total assets 10.2 % 9.4 % Smallest secured loan – principal $ 68 $ 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 16 18 Largest percentage of principal in one California county 43.1 % 26.7 % Number of secured loans with a filed notice of default — — Secured loans in foreclosure – principal $ — $ — Number of secured loans with prepaid interest 1 1 Prepaid interest $ 4 $ 341 As of September 30, 2019, the partnership’s largest loan, with an unpaid principal balance of approximately $10,200,000, had an interest rate of 9.50%, was secured by an industrial building in San Francisco County, and had a maturity of September 1, 2020. As of September 30, 2019, the partnership had no outstanding construction or rehabilitation loans and no commitments to fund construction, rehabilitation or other loans. Lien position At funding, secured loans had the following lien positions and are presented in the following table as of September 30, 2019 and December 31, 2018 ($ in thousands). September 30, 2019 December 31, 2018 Loans Principal Percent Loans Principal Percent First trust deeds 27 $ 71,205 83 % 34 $ 80,348 82 % Second trust deeds 20 14,985 17 22 17,090 18 Total principal, secured loans 47 $ 86,190 100 % 56 $ 97,438 100 % Liens due other lenders at loan closing 30,869 37,632 Total debt $ 117,059 $ 135,070 Appraised property value at loan closing $ 218,140 $ 258,134 Percent of total debt to appraised values (LTV) at loan closing ( 2) 56.2 % 55.0 % 2) Based on appraised values and liens due other lenders at loan closing. The weighted-average loan-to-value (LTV) computation above does not take into account subsequent increases or decreases in property values following the loan closing, nor does it include decreases or increases of the amount owing on senior liens to other lenders. Property type Secured loans summarized by property type are presented in the following table as of September 30, 2019 and December 31, 2018 ($ in thousands). September 30, 2019 December 31, 2018 Loans Principal Percent Loans Principal Percent Single family ( 3) 33 $ 31,601 37 % 32 $ 35,956 36 % Multi-family 2 7,073 8 3 1,713 2 Commercial 11 47,131 54 20 59,319 61 Land 1 385 1 1 450 1 Total principal, secured loans 47 $ 86,190 100 % 56 $ 97,438 100 % 3) 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 September 30, 2019 consists of 14 loans with principal of approximately $8,571,000 that are owner occupied and 19 loans with principal of approximately $23,030,000 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 $23,054,000 that are non-owner occupied. Distribution by California counties The distribution of secured loans outstanding by the California county in which the primary collateral is located is presented in the following table as of September 30, 2019 and December 31, 2018 ($ in thousands). September 30, 2019 December 31, 2018 Principal Percent Principal Percent San Francisco Bay Area ( 4) San Francisco $ 37,128 43.1 % $ 26,026 26.7 % San Mateo 21,214 24.6 23,122 23.7 Alameda 3,011 3.5 4,212 4.2 Santa Clara 780 0.9 3,789 3.9 Napa 551 0.6 559 0.6 Marin 514 0.6 849 0.9 Contra Costa 295 0.3 314 0.2 Solano — — 3,560 3.7 63,493 73.6 62,431 63.9 Other Northern California Amador 724 1.0 737 0.8 Santa Cruz 611 0.7 2,121 2.1 Monterey 372 0.4 489 0.5 Mariposa 68 0.1 56 0.1 Sacramento — — 3,300 3.4 1,775 2.2 6,703 6.9 Total Northern California 65,268 75.8 69,134 70.8 Los Angeles & Coastal Los Angeles 11,388 13.2 18,236 18.7 Santa Barbara 2,089 2.4 2,099 2.2 Orange 650 0.8 654 0.7 14,127 16.4 20,989 21.6 Other Southern California San Bernardino 5,380 6.2 5,900 6.1 Riverside 1,415 1.6 1,415 1.5 6,795 7.8 7,315 7.6 Total Southern California 20,922 24.2 28,304 29.2 Total principal, secured loans $ 86,190 100.0 % $ 97,438 100.0 % 4) Includes the Silicon Valley Scheduled maturities Secured loans are scheduled to mature as presented in the following table as of September 30, 2019 ($ in thousands). Scheduled maturities, as of September 30, 2019 Loans Principal Percent 2019 (5) 3 $ 9,490 11 % 2020 22 43,266 50 2021 11 14,853 17 2022 3 2,703 4 2023 2 3,817 4 Thereafter 2 1,210 1 Total future maturities 43 75,339 87 Matured as of September 30, 2019 4 10,851 13 Total principal, secured loans 47 $ 86,190 100 % 5) Loans scheduled to mature in 2019 from October 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. Matured Loans Secured loans past maturity are summarized in the following table as of September 30, 2019 ($ in thousands). September 30, 2019 Number of loans 4 Principal $ 10,851 Advances 1 Accrued interest 424 Total secured loan balance past maturity $ 11,276 Principal past maturity as percent of total principal 13 % All of the loans which were past maturity at September 30, 2019 were designated as impaired. At September 30, 2019, all loans past maturity were designated as in non-accrual status, except one loan, with principal of approximately $3,896,000 and was 92 days delinquent at September 30, 2019, where the borrower continued making interest payments while it negotiated an extension agreement with management. Delinquency Secured loans summarized by payment delinquency are presented in the following table ($ in thousands). September 30, 2019 December 31, 2018 Loans Principal Loans Principal Past Due 30-89 days — $ — 1 $ 450 90-179 days 3 7,430 1 3,300 180 or more days 2 4,016 — — Total past due 5 11,446 2 3,750 Current 42 74,744 54 93,688 Total principal, secured loans 47 $ 86,190 56 $ 97,438 Interest income of approximately $273,000 and $88,000 was accrued on loans contractually past due 90 days or more as to principal and/or interest payments as of September 30, 2019 and December 31, 2018, respectively. Four of the loans 90 or more days delinquent, with aggregate principal of approximately $10,851,000, were past maturity at September 30, 2019. One loan, with principal of approximately $594,900 was 153 days delinquent, and was designated as impaired and in non-accrual status, was not past maturity at September 30, 2019. Loans in non-accrual status Secured loans in non-accrual status are summarized in the following table as of September 30, 2019 and December 31, 2018 ($ in thousands) September 30, December 31, 2019 2018 Number of loans 4 — Principal $ 7,550 $ — Advances 1 — Accrued interest 376 — Total recorded investment $ 7,927 $ — Foregone interest $ 18 $ — Four loans, with aggregate principal of approximately $7,550,000 were in non-accrual status at September 30, 2019, three of which, with an aggregate principal balance of approximately $6,955,000 were past maturity. No loans were in non-accrual status at December 31, 2018. At September 30, 2019, one loan with a principal balance of approximately $3,896,000 was 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 $3,300,000 was contractually 90 or more days past due as to principal or interest and not in non-accrual status. Loans designated impaired Impaired loans had the balances shown and the associated allowance for loan losses presented in the following table as of September 30, 2019 and December 31, 2018 ($ in thousands). September 30, December 31, 2019 2018 Principal $ 11,446 $ 3,300 Recorded investment ( 6) 11,872 3,388 Impaired loans without allowance 11,872 3,388 Impaired loans with allowance — — Allowance for loan losses, impaired loans ( 7) — — Number of Loans 5 1 LTV 65.6 % 36.1 % 6) Recorded investment is the sum of principal, advances, and interest accrued for financial reporting purposes. 7) The loans designated impaired for accounting purposes are well collateralized (i.e., their protective equity was such that collection was deemed probable for amounts owing) and there was no allowance for loan losses at September 30, 2019 and December 31, 2018. 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 nine months ended September 30, 2019 and the year ended December 31, 2018 ($ in thousands). September 30, December 31, 2019 2018 Average recorded investment $ 7,630 $ 5,987 Interest income recognized 273 257 Interest income received in cash 242 210 Modifications, workout agreements and troubled debt restructurings At September 30, 2019 and December 31, 2018, the partnership had no modifications or workout agreements (or troubled debt restructurings) in effect. Allowance for loan losses At September 30, 2019, and December 31, 2018, the partnership had no allowance for loan losses because all loans had protective equity such that at September 30, 2019, and December 31, 2018, collection was deemed probable for amounts owing. Recovery from agreement with a borrower On September 30, 2019, RMI VIII received $1,612,500 pursuant to the terms of a workout agreement dated October 21, 2011, between RMI VIII and a borrower in default on certain loans secured by various California properties. As part of a workout, RMI VIII received an assignment of a non-voting economic membership interest in the developer’s joint venture, in an amount equal to 25% of all distributions of profit and return of invested capital attributable to the developer’s interest, but excluding management and development fees, payable to the developer from certain joint ventures from which the developer receives a share of the proceeds of the properties. In the third quarter of 2018 one of the two properties held by the joint venture was transferred to an affiliate of the joint venture. The joint venture operating agreement prohibits distributions prior to the sale of the last asset. Accordingly, RMI VIII disclosed a contingent gain based on that transfer beginning in its third quarter 2018 financial statements. The second and last asset held by the joint venture was sold in the second quarter of 2019. After that sale, the

Real Estate Owned (REO)

Real Estate Owned (REO)	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
Real Estate Owned (REO)	NOTE 5 – REAL ESTATE OWNED (REO) The REO end of period balances were approximately $3,943,000 and $4,153,000 at September 30, 2019 and December 31, 2018, respectively. There were no REO transactions during the three and nine months ended September 30, 2019. The valuation reserve on a property in Marin County (approximately 13 acres zoned for residential development) was increased by $210,000 as the sale of the property closed on October 11, 2019, the net proceeds for which approximated $270,300. The partnership held the remaining three unsold properties, with a carrying value of approximately $3,673,000 which approximated the net realizable value, at September 30, 2019: • In San Francisco County, 3 residential units in a condominium complex, which are being marketed to low-income buyers pursuant to listing approved by the City of San Francisco. • In Fresno County, a partially completed home subdivision, which is currently in escrow to sell, which has been extended to December 31, 2019. • In Stanislaus County, approximately 14 acres zoned commercial which is currently being marketed by a broker. The following transactions closed during the nine months ended September 30, 2018: • Six units in a condominium complex in Los Angeles County were sold with a gain of approximately $113,000, which resulted in a decrease in REO by approximately $1,928,000. • A commercial office property in Contra Cost County was sold at approximately its carrying value after taking into account a previously recorded valuation reserve. REO, net is comprised of the following components for the three and nine months ended September 30, 2019 and 2018. Three Months Ended September 30 Nine Months Ended September 30 2019 2018 2019 2018 Holding costs, net of other income $ 23 $ (45 ) $ (39 ) $ (189 ) Gains/(losses) on sales — — — 113 Valuation adjustment (210 ) (48 ) (210 ) (48 ) REO, net $ (187 ) $ (93 ) $ (249 ) $ (124 ) Rental operations were substantially wound down, and all residential rental units had been made vacant in preparation for sale in all periods presented. As such, there were no rental operations during the three and nine months ended September 30, 2018 and 2019 . REO is recorded at fair value at acquisition, and subsequently adjusted to the lower of the recorded cost or fair value.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value	NOTE 6 – FAIR VALUE Secured loans The following methods and assumptions are used when estimating fair value. Secured loans, performing (i.e., not designated as impaired) (Level 3) - Each loan is reviewed quarterly for its delinquency, LTV adjusted for the most recent valuation of the underlying collateral, remaining term to maturity, borrower’s payment history and other factors. 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 3) - 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 3 inputs). Loans designated impaired that are deemed 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. 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. (Note: proceeds for loans secured by owner-occupied single-family residences are required to have been designated by the borrower as being used for business and/or investment purposes). 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	9 Months Ended
	Sep. 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 September 30, 2019. See Note 3 (General Partners and Other Related Parties) for a detailed review of scheduled limited partners’ capital withdrawal requests. 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	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	NOTE 8 – SUBSEQUENT EVENTS On October 11, 2019, RMI VIII sold approximately 13 acres zoned for residential development for $300,000 which approximated its carrying value, after taking into account a previously recorded valuation reserve.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 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 September 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 cost which is generally equal to the unpaid principal balance (principal). Management has discretion to pay amounts (advances) to third parties on behalf of borrowers to protect the partnership’s interest in the loan. Advances include, but are not limited to, the payment of interest and principal on a senior lien to prevent foreclosure by the senior lien holder, property taxes, insurance premiums, and attorney fees. Advances generally are stated at the 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. Non-performing loans (i.e., loans with a payment in arears) less than 180 days delinquent continue to recognize interest income as long as the loan is in the process of collection and is considered to be well-secured. Non-performing loans are placed on non-accrual status if 180 days delinquent or earlier if management determines that the primary source of repayment will come from the foreclosure and subsequent sale of the collateral securing the loan (which usually occurs when a notice of sale is filed) or when the loan is no longer considered well-secured. When a loan is placed on non-accrual status, the accrual of interest is discontinued; 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. From time to time, the manager negotiates and enters into loan modifications with borrowers whose loans are delinquent. If a loan modification were to result in an economic concession to the borrower (i.e., a significant delay or reduction in cash flows compared to the original note), the modification is deemed a troubled debt restructuring. 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). As a result, the recorded amount of the performing loans (i.e., the loan balance), and the loan balance of loans designated impaired for which a specific reserve has not been recorded because the loan is well collateralized and management has determined that collection of the amount owed is assured, are deemed to approximate fair value.
Allowance for Loan Losses	Allowance for loan losses Loans and the related accrued interest and advances (i.e., the loan balance) are analyzed on a periodic basis for ultimate recoverability. Collateral fair values are reviewed quarterly and the protective equity for each loan is computed. As used herein, “protective equity” is the dollar amount by which the net realizable value (i.e., fair value less the cost to sell) of the collateral, net of any senior liens, exceeds the loan balance, where “loan balance” is the sum of the unpaid principal, advances and the recorded interest thereon. If based upon current information and events, it is probable the partnership will be unable to collect all amounts due according to the contractual terms of the loan agreement, then a loan may be designated as impaired. 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. 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 costs to sell in arriving at net realizable value and net of any senior loans. The partnership charges off uncollectible loans and related receivables directly to the allowance account once it is determined the full amount is not collectible. Any amounts collected after a charge off is deemed a recovery of loan losses. 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 ASU is effective for smaller reporting companies and for interim and annual reporting periods in 2023. RMI VIII invests in real estate secured loans made with the expectation that the possibility of credit losses is remote as a result of substantial protective equity provided by the underlying collateral. The real estate secured programs and low loan-to-value ratios have caused RMC to expect that the adoption of the CECL model from the incurred loss models presently in use as to credit loss recognition will likely not materially impact the reported results of operations or financial position of the partnership.

General Partners and Other Re_2

General Partners and Other Related Parties (Tables)	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Schedule of Formation Loan Activity	The formation loan activity is summarized in the following table for the nine months ended September 30, 2019 ($ in thousands). 2019 Balance, January 1 $ 4,943 Early withdrawal penalties (323 ) Repayments — Balance, September 30 $ 4,620
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 September 30, 2019 are presented in the following table ($ in thousands). 2019 $ 327 2020 650 2021 650 2022 650 2023 650 Thereafter 1,693 Total $ 4,620
Schedule of Withdrawals of Limited Partner Capital	The table below sets forth withdrawals of limited partner capital for the three and nine months ended September 30, 2019 and 2018 ($ in thousands). For the Three Months Ended September 30, For the Nine Months Ended September 30, 2019 2018 2019 2018 Capital liquidations-without penalty $ 4,863 $ 5,109 $ 15,624 $ 14,897 Capital liquidations-subject to penalty 960 2,082 3,236 6,424 Total $ 5,823 $ 7,191 $ 18,860 $ 21,321 Scheduled liquidations, at September 30 $ 43,769 $ 50,545 $ 43,769 $ 50,545
Scheduled Capital Account Liquidation Requests	Scheduled limited partners’ capital liquidation requests are presented in the following table ($ in thousands). 2019 $ 5,462 2020 15,354 2021 10,156 2022 7,102 2023 4,186 Thereafter 1,509 Total $ 43,769

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2019
Secured Loan Principal Transactions	Secured loan transactions are summarized in the following table for the three and nine months ended September 30, 2019 ($ in thousands). Three months ended September 30, 2019 Nine months ended September 30, 2019 Principal, beginning of period $ 96,132 $ 97,438 Loans originated 26,444 52,838 Loans sold to non-affiliate (7,740 ) (7,740 ) Principal collected (28,646 ) (56,346 ) Principal, September 30, 2019 (1) $ 86,190 $ 86,190 1) Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019.
Secured Loans Characteristics	Secured loans had the characteristics presented in the following table as ($ in thousands). September 30, December 31, 2019 2018 Number of secured loans 47 56 Secured loans – principal $ 86,190 $ 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 $ 1,834 $ 1,740 Average principal as percent of total principal 2.1 % 1.8 % Average principal as percent of partners’ capital, net of formation loan 1.9 % 1.5 % Average principal as percent of total assets 1.8 % 1.5 % Largest secured loan – principal $ 10,200 $ 10,900 Largest principal as percent of total principal 11.8 % 11.2 % Largest principal as percent of partners’ capital, net of formation loan 10.3 % 9.5 % Largest principal as percent of total assets 10.2 % 9.4 % Smallest secured loan – principal $ 68 $ 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 16 18 Largest percentage of principal in one California county 43.1 % 26.7 % Number of secured loans with a filed notice of default — — Secured loans in foreclosure – principal $ — $ — Number of secured loans with prepaid interest 1 1 Prepaid interest $ 4 $ 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 September 30, 2019 and December 31, 2018 ($ in thousands). September 30, 2019 December 31, 2018 Loans Principal Percent Loans Principal Percent First trust deeds 27 $ 71,205 83 % 34 $ 80,348 82 % Second trust deeds 20 14,985 17 22 17,090 18 Total principal, secured loans 47 $ 86,190 100 % 56 $ 97,438 100 % Liens due other lenders at loan closing 30,869 37,632 Total debt $ 117,059 $ 135,070 Appraised property value at loan closing $ 218,140 $ 258,134 Percent of total debt to appraised values (LTV) at loan closing ( 2) 56.2 % 55.0 % 2) 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 September 30, 2019 and December 31, 2018 ($ in thousands). September 30, 2019 December 31, 2018 Loans Principal Percent Loans Principal Percent Single family ( 3) 33 $ 31,601 37 % 32 $ 35,956 36 % Multi-family 2 7,073 8 3 1,713 2 Commercial 11 47,131 54 20 59,319 61 Land 1 385 1 1 450 1 Total principal, secured loans 47 $ 86,190 100 % 56 $ 97,438 100 % 3) 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 September 30, 2019 consists of 14 loans with principal of approximately $8,571,000 that are owner occupied and 19 loans with principal of approximately $23,030,000 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 $23,054,000 that are non-owner occupied.
Secured Loans Distributed within California	The distribution of secured loans outstanding by the California county in which the primary collateral is located is presented in the following table as of September 30, 2019 and December 31, 2018 ($ in thousands). September 30, 2019 December 31, 2018 Principal Percent Principal Percent San Francisco Bay Area ( 4) San Francisco $ 37,128 43.1 % $ 26,026 26.7 % San Mateo 21,214 24.6 23,122 23.7 Alameda 3,011 3.5 4,212 4.2 Santa Clara 780 0.9 3,789 3.9 Napa 551 0.6 559 0.6 Marin 514 0.6 849 0.9 Contra Costa 295 0.3 314 0.2 Solano — — 3,560 3.7 63,493 73.6 62,431 63.9 Other Northern California Amador 724 1.0 737 0.8 Santa Cruz 611 0.7 2,121 2.1 Monterey 372 0.4 489 0.5 Mariposa 68 0.1 56 0.1 Sacramento — — 3,300 3.4 1,775 2.2 6,703 6.9 Total Northern California 65,268 75.8 69,134 70.8 Los Angeles & Coastal Los Angeles 11,388 13.2 18,236 18.7 Santa Barbara 2,089 2.4 2,099 2.2 Orange 650 0.8 654 0.7 14,127 16.4 20,989 21.6 Other Southern California San Bernardino 5,380 6.2 5,900 6.1 Riverside 1,415 1.6 1,415 1.5 6,795 7.8 7,315 7.6 Total Southern California 20,922 24.2 28,304 29.2 Total principal, secured loans $ 86,190 100.0 % $ 97,438 100.0 % 4) Includes the Silicon Valley
Secured Loans Scheduled Maturities	Secured loans are scheduled to mature as presented in the following table as of September 30, 2019 ($ in thousands). Scheduled maturities, as of September 30, 2019 Loans Principal Percent 2019 (5) 3 $ 9,490 11 % 2020 22 43,266 50 2021 11 14,853 17 2022 3 2,703 4 2023 2 3,817 4 Thereafter 2 1,210 1 Total future maturities 43 75,339 87 Matured as of September 30, 2019 4 10,851 13 Total principal, secured loans 47 $ 86,190 100 % 5) Loans scheduled to mature in 2019 from October 1 to December 31.
Secured Loans Past Maturity	Secured loans past maturity are summarized in the following table as of September 30, 2019 ($ in thousands). September 30, 2019 Number of loans 4 Principal $ 10,851 Advances 1 Accrued interest 424 Total secured loan balance past maturity $ 11,276 Principal past maturity as percent of total principal 13 %
Secured Loans in Non-Accrual Status	Secured loans in non-accrual status are summarized in the following table as of September 30, 2019 and December 31, 2018 ($ in thousands) September 30, December 31, 2019 2018 Number of loans 4 — Principal $ 7,550 $ — Advances 1 — Accrued interest 376 — Total recorded investment $ 7,927 $ — Foregone interest $ 18 $ —
By Days Past Due [Member]
Past Due Financing Receivables	Secured loans summarized by payment delinquency are presented in the following table ($ in thousands). September 30, 2019 December 31, 2018 Loans Principal Loans Principal Past Due 30-89 days — $ — 1 $ 450 90-179 days 3 7,430 1 3,300 180 or more days 2 4,016 — — Total past due 5 11,446 2 3,750 Current 42 74,744 54 93,688 Total principal, secured loans 47 $ 86,190 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 September 30, 2019 and December 31, 2018 ($ in thousands). September 30, December 31, 2019 2018 Principal $ 11,446 $ 3,300 Recorded investment ( 6) 11,872 3,388 Impaired loans without allowance 11,872 3,388 Impaired loans with allowance — — Allowance for loan losses, impaired loans ( 7) — — Number of Loans 5 1 LTV 65.6 % 36.1 % 6) Recorded investment is the sum of principal, advances, and interest accrued for financial reporting purposes. 7) The loans designated impaired for accounting purposes are well collateralized (i.e., their protective equity was such that collection was deemed probable for amounts owing) and there was no allowance for loan losses at September 30, 2019 and December 31, 2018.
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 nine months ended September 30, 2019 and the year ended December 31, 2018 ($ in thousands). September 30, December 31, 2019 2018 Average recorded investment $ 7,630 $ 5,987 Interest income recognized 273 257 Interest income received in cash 242 210

Real Estate Owned (REO) (Tables

Real Estate Owned (REO) (Tables)	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
Summary of REO, Net	REO, net is comprised of the following components for the three and nine months ended September 30, 2019 and 2018. Three Months Ended September 30 Nine Months Ended September 30 2019 2018 2019 2018 Holding costs, net of other income $ 23 $ (45 ) $ (39 ) $ (189 ) Gains/(losses) on sales — — — 113 Valuation adjustment (210 ) (48 ) (210 ) (48 ) REO, net $ (187 ) $ (93 ) $ (249 ) $ (124 )

Organization and General - Addi

Organization and General - Additional Information (Details) - Installment	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Organizational and General Details [Line Items]
Percentage of net income distributed to limited partners capital	61.00%	62.00%
Minimum Amount of Time Before Leaving Partnership Without Penalty	5 years
Early Withdrawal Penalty Percentage	10.00%
Maximum Percentage of Total Limited Partners Capital Available for Liquidation During One Year	20.00%
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]
Percentage of income or loss allocated	0.66%
General partner equity deficit	100.00%
RMC [Member]
Organizational and General Details [Line Items]
Ownership interest held by the general partner	0.10%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)	9 Months Ended
	Sep. 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)	9 Months Ended
	Sep. 30, 2019USD ($)Loan	Sep. 30, 2018Loan
General Partners And Other Related Parties Details [Line Items]
Payable to affiliate	$ 318,000
Management fee, description	The general partners are entitled to monthly fees for managing the partnership’s loan portfolio and operations of up to 1/32 of 1% of the “net asset value” (3/8 of 1% annually).
Loan Brokerage Commissions, Maximum Percent of Assets	4.00%
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)	$ 4,620,000
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]
Payable to affiliate	$ 318,000,000
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	9 Months Ended
	Sep. 30, 2019USD ($)
Formation Loan - Transactions [Abstract]
Balance, January 1	$ 4,943
Early withdrawal penalties	(323)
Repayments	0
Balance, September 30	$ 4,620

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	Sep. 30, 2019USD ($)
Formation Loan Future Minimum Payments [Abstract]
2019	$ 327
2020	650
2021	650
2022	650
2023	650
Thereafter	1,693
Total	$ 4,620

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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
General Partners And Other Related Parties Details [Line Items]
Scheduled liquidations, at September 30	$ 43,769		$ 43,769
Limited Partner [Member]
General Partners And Other Related Parties Details [Line Items]
Scheduled liquidations, at September 30	43,769	$ 50,545	43,769	$ 50,545
Limited Partner [Member] | Capital Liquidations-without Penalty [Member]
General Partners And Other Related Parties Details [Line Items]
Total, Capital liquidations	4,863	5,109	15,624	14,897
Limited Partner [Member] | Capital Liquidations-subject to Penalty [Member]
General Partners And Other Related Parties Details [Line Items]
Total, Capital liquidations	960	2,082	3,236	6,424
Limited Partner [Member] | Capital Subject to Liquidation Net [Member]
General Partners And Other Related Parties Details [Line Items]
Total, Capital liquidations	$ 5,823	$ 7,191	$ 18,860	$ 21,321

General Partners and Other Re_7

General Partners and Other Related Parties - Scheduled Capital Account Liquidation Requests (Details) $ in Thousands	Sep. 30, 2019USD ($)
Partners Capital Account Withdrawals [Abstract]
2019	$ 5,462
2020	15,354
2021	10,156
2022	7,102
2023	4,186
Thereafter	1,509
Total	$ 43,769

Loans - Additional Information

Loans - Additional Information (Details)	1 Months Ended		3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Jul. 31, 2019USD ($)Loan	Aug. 31, 2018	Sep. 30, 2019USD ($)MortgageLoan		Jun. 30, 2019USD ($)	Sep. 30, 2019USD ($)MortgageLoan		Dec. 31, 2018USD ($)LoanMortgageLoan	Sep. 30, 2019	Sep. 30, 2019Loan	Sep. 30, 2019Interest	Sep. 30, 2019MortgageLoan	Oct. 21, 2011
Loans Details [Line Items]
Loans Receivable, Term						5 years
Loans Receivable Number of Loans | Loan								56		47
Loans Receivable, Percent								100.00%	100.00%
Loans Receivable, Number of Interest Only Loans | Interest											15
Loans Receivable, Amortization Term						30 years
Number of loans sold to an unaffiliated third party | Loan	3
Aggregate principal amount of loans sold to unaffiliated third party	$ 7,740,000
Mortgage Loans on Real Estate, Number of Loans Renewed | MortgageLoan			1			5
Loans - principal renewed (in Dollars)			$ 650,000			$ 5,658,000
Loans Receivable Largest Loan (in Dollars)			10,200,000			$ 10,200,000		$ 10,900,000
Matured as of September 30, 2019, Loan										4		1
Number of secured loans | MortgageLoan						47		56
Principal			86,190,000	[1]	$ 96,132,000	$ 86,190,000	[1]	$ 97,438,000
Mortgage Loans on Real Estate, Number of Loans matured										4		1
Number of secured loans | MortgageLoan						47		56
Allowance for loan losses			0			$ 0		$ 0
Loans, Principal			86,190,000	[1]	$ 96,132,000	86,190,000	[1]	97,438,000
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%
Past Due 90 Days Or More [Member]
Loans Details [Line Items]
Mortgage Loan balance			3,896,000			3,896,000		3,300,000
Revenue, loans						$ 273,000		$ 88,000
Loans Receivable, Interest Accrual, Period						90 days		90 days
Number of secured loans | MortgageLoan						4
Principal			10,851,000,000			$ 10,851,000,000
Number of secured loans | MortgageLoan						4
Mortgage Loan balance			3,896,000			$ 3,896,000		$ 3,300,000
Number of loan designated impaired and non-accrual substantially paid off | MortgageLoan						1		1
Loans, Principal			10,851,000,000			$ 10,851,000,000
Workout Agreements [Member]
Loans Details [Line Items]
Principal			1,612,500,000,000			1,612,500,000,000
Loans, Principal			1,612,500,000,000			1,612,500,000,000
Non-accrual [Member]
Loans Details [Line Items]
Matured as of September 30, 2019, Loan | Loan										4
Mortgage Loan balance			3,896,000			3,896,000
Number of secured loans | MortgageLoan								0
Mortgage Loans on Real Estate, Number of Loans matured | Loan										4
Mortgage Loan balance			7,550,000			7,550,000
Number of secured loans | MortgageLoan								0
Mortgage Loan balance			3,896,000			3,896,000
Non-accrual [Member] | Past Due 153 Days [Member]
Loans Details [Line Items]
Principal			594,900,000			594,900,000
Loans, Principal			594,900,000			594,900,000
Loan Past Maturity [Member]
Loans Details [Line Items]
Matured as of September 30, 2019, Loan | Loan										3
Mortgage Loan balance			6,955,000			6,955,000
Mortgage Loans on Real Estate, Number of Loans matured | Loan										3
Mortgage Loan balance			6,955,000			$ 6,955,000
Modifications of Secured Loan [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan						0		0
Number of secured loans | MortgageLoan						0		0
Workout Agreements [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan						0		0
Number of secured loans | MortgageLoan						0		0
Troubled Debt Restructuring [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan						0		0
Number of secured loans | MortgageLoan						0		0
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										37
Loans Receivable, Percent									79.00%
Loans Receivable, Percent of Aggregate Principal									96.00%
Interest Only [Member]
Loans Details [Line Items]
Loans Receivable, Percent									32.00%
Loans Receivable, Percent of Aggregate Principal									63.00%
Largest Loan [Member]
Loans Details [Line Items]
Loans Receivable, Yield of Loan Acquired									9.50%
Loans Receivable Maturity Date					Sep. 1, 2020
Construction Loans [Member]
Loans Details [Line Items]
Loans outstanding			0			$ 0
Rehabilitation Loans [Member]
Loans Details [Line Items]
Loans outstanding			$ 0			$ 0
[1]	Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019.

Loans - Secured Loan Principal

Loans - Secured Loan Principal Transactions (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Receivables [Abstract]
Principal, beginning of period		$ 96,132	$ 97,438
Loans originated		26,444	52,838	$ 23,125
Loans sold to non-affiliate		(7,740)	(7,740)
Principal collected		(28,646)	(56,346)
Principal, Ending of period	[1]	$ 86,190	$ 86,190
[1]	Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019.

Loans - Secured Loan Principa_2

Loans - Secured Loan Principal Transactions (Parenthetical) (Details) $ in Thousands	Oct. 22, 2019USD ($)
Subsequent Event [Member]
Loans Details [Line Items]
Borrower payments held in trust account	$ 69,325

Loans - Secured Loans Character

Loans - Secured Loans Characteristics (Details)	9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)LoanMortgageLoanCounty		Dec. 31, 2018USD ($)LoanMortgageLoanCounty	Jun. 30, 2019USD ($)
Secured Loan Transactions [Line Items]
Number of secured loans | Loan	47		56
Secured loans - principal (in Dollars)	$ 86,190,000	[1]	$ 97,438,000	$ 96,132,000
Average secured loan - principal (in Dollars)	$ 1,834,000		$ 1,740,000
Average principal as percent of total principal	2.10%		1.80%
Average principal as percent of partners’ capital, net of formation loan	1.90%		1.50%
Average principal as percent of total assets	1.80%		1.50%
Largest secured loan - principal (in Dollars)	$ 10,200,000		$ 10,900,000
Largest principal as percent of total principal	11.80%		11.20%
Largest principal as percent of partners’ capital, net of formation loan	10.30%		9.50%
Largest principal as percent of total assets	10.20%		9.40%
Smallest secured loan - principal (in Dollars)	$ 68,000		$ 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	16		18
Largest percentage of principal in one California county	43.10%		26.70%
Number of secured loans with a filed notice of default | MortgageLoan	47		56
Prepaid interest	$ 4,000		$ 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	1		1
[1]	Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019.

Loans - Secured Loans by Lien P

Loans - Secured Loans by Lien Position in the Collateral (Details) $ in Thousands		9 Months Ended		12 Months Ended
		Sep. 30, 2019USD ($)MortgageLoan		Dec. 31, 2018USD ($)MortgageLoan	Jun. 30, 2019USD ($)
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Secured loans, principal		$ 86,190	[1]	$ 97,438	$ 96,132
Liens due other lenders at loan closing (in Dollars)		30,869		37,632
Total debt (in Dollars)		117,059		135,070
Appraised property value at loan closing (in Dollars)		$ 218,140		$ 258,134
Percent of total debt to appraised values (LTV) at loan closing	[2]	56.20%		55.00%
Loans - percent		100.00%		100.00%
Number of secured loans | MortgageLoan		47		56
First Trust Deeds [Member]
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Secured loans, principal		$ 71,205		$ 80,348
Loans - percent		83.00%		82.00%
Number of secured loans | MortgageLoan		27		34
Second Trust Deeds [Member]
Loans Details - Secured Loans by Lien Position in the Collateral [Line Items]
Secured loans, principal		$ 14,985		$ 17,090
Loans - percent		17.00%		18.00%
Number of secured loans | MortgageLoan		20		22
[1]	Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019.
[2]	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		9 Months Ended		12 Months Ended
		Sep. 30, 2019USD ($)MortgageLoan		Dec. 31, 2018USD ($)MortgageLoan	Jun. 30, 2019USD ($)
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | MortgageLoan		47		56
Secured loans, principal | $		$ 86,190	[1]	$ 97,438	$ 96,132
Loans - percent		100.00%		100.00%
Single Family [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | MortgageLoan	[2]	33		32
Secured loans, principal | $	[2]	$ 31,601		$ 35,956
Loans - percent	[2]	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 | $		$ 7,073		$ 1,713
Loans - percent		8.00%		2.00%
Commercial [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Number of secured loans | MortgageLoan		11		20
Secured loans, principal | $		$ 47,131		$ 59,319
Loans - percent		54.00%		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]	Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019.
[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 September 30, 2019 consists of 14 loans with principal of approximately $8,571,000 that are owner occupied and 19 loans with principal of approximately $23,030,000 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)	9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)MortgageLoan		Dec. 31, 2018USD ($)MortgageLoan	Jun. 30, 2019USD ($)
Loans Details [Line Items]
Number of secured loans | MortgageLoan	47		56
Secured loans, principal | $	$ 86,190,000	[1]	$ 97,438,000	$ 96,132,000
Single Family Property-Owner Occupied [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan	14		16
Secured loans, principal | $	$ 8,571,000		$ 12,839,000
Single Family Property-NonOwner Occupied [Member]
Loans Details [Line Items]
Number of secured loans | MortgageLoan	19		16
Secured loans, principal | $	$ 23,030,000		$ 23,054,000
[1]	Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019.

Loans - Secured Loans Distribut

Loans - Secured Loans Distributed within California (Details) - USD ($) $ in Thousands		Sep. 30, 2019		Jun. 30, 2019	Dec. 31, 2018
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 86,190	[1]	$ 96,132	$ 97,438
Loans - percent		100.00%			100.00%
San Francisco [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 37,128			$ 26,026
Loans - percent		43.10%			26.70%
San Mateo [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 21,214			$ 23,122
Loans - percent		24.60%			23.70%
Santa Clara [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 780			$ 3,789
Loans - percent		0.90%			3.90%
Alameda [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 3,011			$ 4,212
Loans - percent		3.50%			4.20%
Solano [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal					$ 3,560
Loans - percent					3.70%
Marin [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 514			$ 849
Loans - percent		0.60%			0.90%
Napa [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 551			$ 559
Loans - percent		0.60%			0.60%
Contra Costa [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 295			$ 314
Loans - percent		0.30%			0.20%
San Francisco Bay Area [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal	[2]	$ 63,493			$ 62,431
Loans - percent	[2]	73.60%			63.90%
Santa Cruz [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 611			$ 2,121
Loans - percent		0.70%			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		$ 724			$ 737
Loans - percent		1.00%			0.80%
Monterey [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 372			$ 489
Loans - percent		0.40%			0.50%
Mariposa [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 68			$ 56
Loans - percent		0.10%			0.10%
Other Northern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 1,775			$ 6,703
Loans - percent		2.20%			6.90%
Northern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 65,268			$ 69,134
Loans - percent		75.80%			70.80%
Los Angeles [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 11,388			$ 18,236
Loans - percent		13.20%			18.70%
Santa Barbara [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 2,089			$ 2,099
Loans - percent		2.40%			2.20%
Orange [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 650			$ 654
Loans - percent		0.80%			0.70%
Los Angeles And Coastal [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 14,127			$ 20,989
Loans - percent		16.40%			21.60%
San Bernardino [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 5,380			$ 5,900
Loans - percent		6.20%			6.10%
Riverside [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 1,415			$ 1,415
Loans - percent		1.60%			1.50%
Other Southern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 6,795			$ 7,315
Loans - percent		7.80%			7.60%
Southern California [Member]
Loans (Details) - Secured Loans by Property Type [Line Items]
Secured loans, principal		$ 20,922			$ 28,304
Loans - percent		24.20%			29.20%
[1]	Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019.
[2]	Includes the Silicon Valley

Loans - Secured Loans Scheduled

Loans - Secured Loans Scheduled Maturities (Details) $ in Thousands		Sep. 30, 2019USD ($)		Sep. 30, 2019	Sep. 30, 2019Loan	Sep. 30, 2019MortgageLoan	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)Loan
Receivables [Abstract]
2019, Loan | Loan	[1]				3
2020, Loan | Loan					22
2021, Loan | Loan					11
2022, Loan | Loan					3
2023, Loan | Loan					2
Thereafter, Loan | Loan					2
Total future maturities, Loan | Loan					43
Matured as of September 30, 2019, Loan					4	1
Total principal, secured loans, Loan | Loan					47			56
2019, Principal	[1]	$ 9,490
2020, Principal		43,266
2021, Principal		14,853
2022, Principal		2,703
2023, Principal		3,817
Thereafter, Principal		1,210
Total future maturities, Principal		75,339
Matured as of June 30, 2019, Principal		10,851
Total principal, secured loans, Principle		$ 86,190	[2]				$ 96,132	$ 97,438
2019, Percent	[1]			11.00%
2020, Percent				50.00%
2021, Percent				17.00%
2022, Percent				4.00%
2023, Percent				4.00%
Thereafter, Percent				1.00%
Total future maturities, Percent				87.00%
Matured as of September 30, 2019, Percent				13.00%
Total principal, secured loans, Percent				100.00%
[1]	Loans scheduled to mature in 2019 from October 1 to December 31.
[2]	Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019.

Loans - Secured Loans Past Matu

Loans - Secured Loans Past Maturity (Details) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)MortgageLoan		Dec. 31, 2018USD ($)MortgageLoan	Jun. 30, 2019USD ($)
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Number of secured loans | MortgageLoan	47		56
Secured loans, principal	$ 86,190	[1]	$ 97,438	$ 96,132
Accrued interest	$ 700		$ 701
Matured Loans [Member]
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Number of secured loans | MortgageLoan	4
Secured loans, principal	$ 11,276
Accrued interest	$ 424
Principal past maturity as percent of total principal	13.00%
Principal [Member] | Matured Loans [Member]
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Secured loans, principal	$ 10,851
Advances [Member] | Matured Loans [Member]
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Secured loans, principal	$ 1
[1]	Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019.

Loans - Secured Loans Summarize

Loans - Secured Loans Summarized by Payment Delinquency (Details) $ in Thousands	Sep. 30, 2019USD ($)MortgageLoan		Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)MortgageLoan
Past Due
Delinquent loans, number | MortgageLoan	47			56
Loans, Principal | $	$ 86,190	[1]	$ 96,132	$ 97,438
Past Due 30-89 Days [Member]
Past Due
Delinquent loans, number | MortgageLoan				1
Loans, Principal | $				$ 450
Past Due 90-179 Days [Member]
Past Due
Delinquent loans, number | MortgageLoan	3			1
Loans, Principal | $	$ 7,430			$ 3,300
Past Due 180 Days or More [Member]
Past Due
Delinquent loans, number | MortgageLoan	2
Loans, Principal | $	$ 4,016
Past Due [Member]
Past Due
Delinquent loans, number | MortgageLoan	5			2
Loans, Principal | $	$ 11,446			$ 3,750
Current [Member]
Past Due
Delinquent loans, number | MortgageLoan	42			54
Loans, Principal | $	$ 74,744			$ 93,688
[1]	Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019.

Loans - Secured Loans in Non-Ac

Loans - Secured Loans in Non-Accrual Status (Details) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)MortgageLoan		Dec. 31, 2018USD ($)MortgageLoan	Jun. 30, 2019USD ($)
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Number of secured loans | MortgageLoan	47		56
Secured loans, principal	$ 86,190	[1]	$ 97,438	$ 96,132
Accrued interest	$ 700		$ 701
Nonaccrual Status
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Number of secured loans | MortgageLoan	4
Secured loans, principal	$ 7,927
Accrued interest	376
Foregone interest	18
Principal [Member] | Nonaccrual Status
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Secured loans, principal	7,550
Advances [Member] | Nonaccrual Status
Loans Details Secured Loans In Nonaccrual Status [Line Items]
Secured loans, principal	$ 1
[1]	Borrower payments are deposited into an independent bank trust account established and administered by RMC, pursuant to California regulations, and are disbursed to the partnership after an appropriate holding period to ensure the funds are collected. Borrower payments deposited into the trust account are not included in the consolidated financial statements until disbursed to the partnership. At September 30, 2019, there was $69,325 in borrower payments held in the RMC trust account, all of which was disbursed to the partnership by October 22, 2019.

Loans - Secured Loans Designate

Loans - Secured Loans Designated as Impaired Loans (Details)		9 Months Ended	12 Months Ended
		Sep. 30, 2019USD ($)Loan	Dec. 31, 2018USD ($)Loan
Secured Loans Designated as Impaired Loans [Abstract]
Principal		$ 11,446,000	$ 3,300,000
Recorded investment	[1]	11,872,000	3,388,000
Impaired loans without allowance		11,872,000	3,388,000
Allowance for loan losses, impaired loans		$ 0	$ 0
Number of Loans | Loan		5	1
LTV		65.60%	36.10%
[1]	Recorded investment is the sum of principal, advances, and interest accrued for financial reporting purposes.

Loans - Secured Loans Designa_2

Loans - Secured Loans Designated as Impaired Loans (Parenthetical) (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Receivables [Abstract]
Allowance for loan losses, impaired loans	$ 0	$ 0

Loans - Impaired Loans - Averag

Loans - Impaired Loans - Average Balances and Interest Income (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Impaired Loans - Average Balances and Interest Income [Abstract]
Average recorded investment	$ 7,630	$ 5,987
Interest income recognized	273	257
Interest income received in cash	$ 242	$ 210

Real Estate Owned (REO) - Addit

Real Estate Owned (REO) - Additional Information (Details)	Oct. 11, 2019USD ($)	Sep. 30, 2019USD ($)aProperty	Sep. 30, 2018USD ($)Property	Sep. 30, 2019USD ($)aProperty	Sep. 30, 2018USD ($)Property	Dec. 31, 2018USD ($)
Real Estate Owned REO Details [Line Items]
Carrying value of real estate properties		$ 3,943,000		$ 3,943,000		$ 4,153,000
Valuation adjustment		(210,000)	$ (48,000)	(210,000)	$ (48,000)
REO - sales, net					3,321,000
Rental operations, net		0	$ 0	0	0
Partnership Property Held For Sale [Member]
Real Estate Owned REO Details [Line Items]
Carrying value of real estate properties		$ 3,673,000		$ 3,673,000
Number of real estate unsold properties | Property		3		3
Marin County [Member]
Real Estate Owned REO Details [Line Items]
Valuation adjustment				$ 210,000,000
Marin County [Member] | Subsequent Event [Member]
Real Estate Owned REO Details [Line Items]
Proceeds from sale of real estate	$ 270,300
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
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 Real Estate Properties | Property		1		1
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
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
REO - sales, net					$ 1,928,000
Los Angeles [Member] | Sold [Member] | Condominium Complex [Member]
Real Estate Owned REO Details [Line Items]
Number of Real Estate Properties | Property			6		6

Real Estate Owned (REO) - Summa

Real Estate Owned (REO) - Summary of REO, Net (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Real Estate [Abstract]
Holding costs, net of other income	$ 23	$ (45)	$ (39)	$ (189)
Gains/(losses) on sales				113
Valuation adjustment	(210)	(48)	(210)	(48)
REO, net	$ (187)	$ (93)	$ (249)	$ (124)

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent Event [Member] $ in Thousands	Oct. 11, 2019USD ($)a
Subsequent Event [Line Items]
Area of land sold for residential development | a	13
Carrying value of area of land sold | $	$ 300,000