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SUBSEQUENT EVENTS | 6 Months Ended
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Jun. 30, 2020
Subsequent Events [Abstract] |
Subsequent Events |
22. SUBSEQUENT EVENTS
In July 2020, the Company repurchased 4.8 million shares of its common stock for an aggregate amount of $31.3 million, excluding commission costs, under the Company’s stock repurchase program. In July 2020, the Company completed and closed the securitization of residential mortgage loans, OBX 2020-EXP2 Trust, with a face value of $489.4 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 2020, the Company entered into an additional credit facility for residential mortgage loans with a third party financial institution. The borrowing limit on this facility is $250 million.

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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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