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Debt Securities (Tables) | 3 Months Ended
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Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract] |
Amortized Cost and Estimated Fair Value of Debt Securities | The amortized cost and estimated fair value of the Company’s debt securities at December 31, 2015 are summarized as follows:
Security Description | Face Amount |  | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Estimated Fair Value
CMBS (Fair Value Option) | $ | 511,482 |  |  | $ | 504,253 |  |  | $ | 2,614 |  |  | $ | (13,718 | ) |  | $ | 493,149 |
CMBS (Held-to-Maturity) | 153,250 |  |  | 153,193 |  |  | — |  |  | — |  |  | 153,193 |
Total | $ | 664,732 |  |  | $ | 657,446 |  |  | $ | 2,614 |  |  | $ | (13,718 | ) |  | $ | 646,342 |
The amortized cost and estimated fair value of the Company’s debt securities at March 31, 2016 are summarized as follows:
Security Description | Face Amount |  | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Carrying Value
CMBS (Fair Value Option) | $ | 505,134 |  |  | $ | 498,630 |  |  | $ | 1,575 |  |  | $ | (27,741 | ) |  | $ | 472,464 |
CMBS (Held-to-Maturity) | 152,500 |  |  | 152,451 |  |  | — |  |  | — |  |  | 152,451 |
Total | $ | 657,634 |  |  | $ | 651,081 |  |  | $ | 1,575 |  |  | $ | (27,741 | ) |  | $ | 624,915 |
Overall Statistics for Company's AAA-Rated CMBS Investments Calculated on Weighted Average Basis | The overall statistics for the Company’s CMBS (Fair Value Option) investments calculated on a weighted average basis assuming no early prepayments or defaults as of March 31, 2016 and December 31, 2015 are as follows:
| March 31, 2016 |  | December 31, 2015
Credit Ratings * | BB-D |  |  | BB-D |
Coupon | 5.9 | % |  | 5.9 | %
Yield | 6.6 | % |  | 6.5 | %
Weighted Average Life | 1.4 years |  |  | 1.6 years |
* | Ratings per Fitch Ratings, Moody’s Investors Service or Standard & Poor's.
Percentage Vintage, Property Type, and Location of Collateral Securing Company's AAA-Rated CMBS Investments Calculated on Weighted Average Basis | The percentage vintage, property type and location of the collateral securing the CMBS (Fair Value Option) investments calculated on a weighted average basis as of March 31, 2016 and December 31, 2015 are as follows:
Vintage | March 31, 2016 |  | December 31, 2015
2005 | 7.2 | % |  | 8.3 | %
2006 | 21.0 |  |  | 20.0 |
2007 | 62.6 |  |  | 62.4 |
2008 | 9.2 |  |  | 9.3 |
Total | 100.0 | % |  | 100.0 | %
Property Type | March 31, 2016 |  | December 31, 2015
Office | 33.0 | % |  | 32.0 | %
Retail | 30.0 |  |  | 30.2 |
Multifamily | 13.3 |  |  | 13.5 |
Other * | 23.7 |  |  | 24.3 |
Total | 100.0 | % |  | 100.0 | %
* No other individual category comprises more than 10% of the total.
Location | March 31, 2016 |  | December 31, 2015
South Atlantic | 22.3 | % |  | 23.0 | %
Middle Atlantic | 18.6 |  |  | 18.1 |
Pacific | 17.7 |  |  | 17.8 |
East North Central | 12.2 |  |  | 12.5 |
Other * | 29.2 |  |  | 28.6 |
Total | 100.0 | % |  | 100.0 | %
* No other individual category comprises more than 10% of the total.

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