Borrowings Under Repurchase Agreements (Tables)

9 Months Ended

Sep. 30, 2015

Weighted Average Maturities and Interest Rates of Borrowings

At September 30, 2015 and December 31, 2014, the Company’s borrowings outstanding under the Wells Facility, the UBS Facility, the DB Facility, the JPMorgan Facility and the Goldman Loan had the following debt balances, weighted average maturities and interest rates:



	September 30, 2015						December 31, 2014
	Debt Balance		Weighted Average Remaining Maturity		Weighted Average Rate		Debt Balance		Weighted Average Remaining Maturity		Weighted Average Rate
Wells Facility borrowings	$	—	—		—	%	$	20,166	0.2 years		1.0	%	**
UBS Facility borrowings	133,899		3.0 years	*	2.8	%	133,899		3.7 years	*	2.8	%	Fixed
DB Facility borrowings	300,005		2.5 years		3.7	%	300,005		3.3 years		3.7	%	***
JPMorgan Facility borrowings	253,481		2.3 years		2.5	%	168,124		0.1 years		2.7	%	L+225 - 350
Goldman Loan	48,052		3.6 years		3.7	%	—		—		—	%	L+350
Total borrowings	$	735,437	2.5 years		3.0	%	$	622,194	3.2 years		3.2	%

*Assumes extension options are exercised.

**At December 31, 2014, borrowings outstanding under the Wells Facility bore interest at LIBOR plus 80 basis points.

*** Advances under the DB Facility accrue interest at a per annum pricing rate based on the rate implied by the fixed rate bid under a fixed for floating interest rate swap for the receipt of payments indexed to three-month U.S. dollar LIBOR, plus a financing spread ranging from 1.80% to 2.32% based on the rating of the collateral pledged.

Remaining Maturities of Borrowings

At September 30, 2015, the Company’s borrowings had the following remaining maturities:



	Less than 1 year		1 to 3 years		3 to 5 years		More than 5 years		Total
UBS Facility borrowings *	$	5,004	$	128,895	$	—	$	—	$	133,899
DB Facility borrowings	58,552		241,453		—		—		300,005
JPMorgan Facility borrowings	1,177		252,304						253,481
Goldman Loan	3,126		10,581		34,345				48,052
Total	$	67,859	$	633,233	$	34,345	$	—	$	735,437

*Assumes extension option is exercised.

Schedule of Outstanding, Maximum and Average Balances of Debt

The table below summarizes the outstanding balances at September 30, 2015, as well as the maximum and average balances for the nine months ended September 30, 2015 for the Company's borrowings under repurchase agreements.



			For the nine months ended September 30, 2015
	Balance at September 30, 2015		Maximum Month-End Balance		Average Month-End Balance
Wells Facility borrowings	$	—	$	22,254	$	4,242
UBS Facility borrowings	133,899		133,899		$	133,899
DB Facility borrowings	300,005		300,005		300,005
JPMorgan Facility borrowings	253,481		395,572		244,678
Goldman Loan	48,052		52,524		45,259
Total	$	735,437