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Repurchase Agreements (Tables) | 3 Months Ended
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Mar. 31, 2022
Disclosure of Repurchase Agreements [Abstract] |
Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets | The Company’s repurchase agreements outstanding as of March 31, 2022 and December 31, 2021 are summarized in the following tables:
|  | March 31, 2022 |  | December 31, 2021
Collateral Type |  | Balance |  | Weighted Average Rate |  | Fair Value of Collateral Pledged |  | Balance |  | Weighted Average Rate |  | Fair Value of Collateral Pledged
Agency RMBS |  | $ | 2,547,808 |  |  | 0.26 | % |  | $ | 2,688,612 |  |  | $ | 2,408,126 |  |  | 0.17 | % |  | $ | 2,536,094 |
Agency CMBS |  | 168,173 |  |  | 0.25 | % |  | 171,364 |  |  | 176,268 |  |  | 0.14 | % |  | 184,847 |
Agency CMBS IO |  | 164,273 |  |  | 0.75 | % |  | 174,532 |  |  | 180,912 |  |  | 0.68 | % |  | 192,481 |
Non-Agency CMBS IO |  | 72,548 |  |  | 1.33 | % |  | 85,160 |  |  | 84,610 |  |  | 0.99 | % |  | 97,897 |
Total repurchase agreements |  | $ | 2,952,802 |  |  | 0.31 | % |  | $ | 3,119,668 |  |  | $ | 2,849,916 |  |  | 0.23 | % |  | $ | 3,011,319 |
Transfer of Certain Financial Assets Accounted for as Secured Borrowings | The following table provides information on the remaining term to maturity and original term to maturity for the Company’s repurchase agreements as of the dates indicated:
|  | March 31, 2022 |  | December 31, 2021
Remaining Term to Maturity |  | Balance |  | Weighted Average Rate |  | WAVG Original Term to Maturity |  | Balance |  | Weighted Average Rate |  | WAVG Original Term to Maturity
Less than 30 days |  | $ | 1,567,265 |  |  | 0.36 | % |  | 88 |  |  | $ | 602,994 |  |  | 0.42 | % |  | 123 |
30 to 90 days |  | 977,241 |  |  | 0.24 | % |  | 154 |  |  | 763,302 |  |  | 0.14 | % |  | 166 |
91 to 180 days |  | 159,180 |  |  | 0.16 | % |  | 367 |  |  | 1,075,324 |  |  | 0.15 | % |  | 198 |
181 days to 1 year |  | 249,116 |  |  | 0.38 | % |  | 365 |  |  | 408,296 |  |  | 0.30 | % |  | 366 |
Total |  | $ | 2,952,802 |  |  | 0.31 | % |  | 148 |  |  | $ | 2,849,916 |  |  | 0.23 | % |  | 198 |
Schedule of Repurchase Agreements on a Net Basis | The following table presents information regarding the Company's repurchase agreements as if the Company had presented them on a net basis as of March 31, 2022 and December 31, 2021:
| Gross Amount of Recognized Liabilities |  | Gross Amount Offset in the Balance Sheet |  | Net Amount of Liabilities Presented in the Balance Sheet |  | Gross Amount Not Offset in the Balance Sheet (1) |  | Net Amount
Financial Instruments Posted as Collateral |  | Cash Posted as Collateral
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |
Repurchase agreements | $ | 2,952,802 |  |  | $ | — |  |  | $ | 2,952,802 |  |  | $ | (2,952,802) |  |  | $ | — |  |  | $ | — |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |
Repurchase agreements | $ | 2,849,916 |  |  | $ | — |  |  | $ | 2,849,916 |  |  | $ | (2,849,916) |  |  | $ | — |  |  | $ | — |
(1) Amounts disclosed for collateral received by or posted to the same counterparty include cash and the fair value of MBS up to and not exceeding the net amount of the repurchase agreement liability presented in the balance sheet. The fair value of the total collateral received by or posted to the same counterparty may exceed the amounts presented.

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- Definition Schedule of Repurchase Agreements on a Net Basis + References No definition available. + Details
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- Definition Tabular disclosure, as of the most recent balance sheet date, of securities or other assets sold under repurchase agreements when this amount exceeds 10 percent of total assets. Disclosure may include the following: the type of securities or assets sold under agreements to repurchase, the carrying amount, market value (including accrued interest plus any cash or other assets on deposit. The information is segregated into securities maturing (1) overnight; (2) term up to 30 days; (3) term of 30 to 90 days; (4) term over 90 days; (5) demand. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(m)(1)(ii)(A)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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- Definition Tabular disclosure of the nature and risks of short-term collateralized financing obtained through repurchase agreements, securities lending transactions and repurchase-to-maturity transactions, accounted for as secured borrowings. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 7 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=109249958&loc=SL34722452-111729 + Details
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