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SUBSEQUENT EVENTS | 6 Months Ended
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Jun. 30, 2019
Subsequent Events [Abstract] |
Subsequent Events |
23. SUBSEQUENT EVENTS
In July 2019, the Company redeemed all 7.0 million of its issued and outstanding shares of Series C Preferred Stock at a redemption price per share of $25.00 plus accumulated and unpaid dividends per share to, but not including, the redemption date. In July 2019, the Company completed and closed its fourth securitization of residential mortgage loans for the 2019 calendar year, OBX 2019-EXP2 Trust, with a face value of $463.4 million. The securitization represented a financing transaction which provided non-recourse financing to the Company collateralized by residential mortgage loans purchased by the Company. In July 2019, the Company issued an additional 1.7 million shares of its Series I Preferred Stock pursuant to the underwriters’ over-allotment option for additional gross proceeds of $42.5 million before deducting underwriting discounts and offering expenses.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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