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Debt Securities (Tables) | 9 Months Ended
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Sep. 30, 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 September 30, 2016 are summarized as follows:
Security Description | Face Amount |  | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Estimated Fair Value
CMBS (Fair Value Option) | $ | 402,392 |  |  | $ | 395,160 |  |  | $ | 116 |  |  | $ | (47,820 | ) |  | $ | 347,456 |
CMBS (Held-to-Maturity) | 147,280 |  |  | 147,190 |  |  | — |  |  | — |  |  | 147,190 |
Total | $ | 549,672 |  |  | $ | 542,350 |  |  | $ | 116 |  |  | $ | (47,820 | ) |  | $ | 494,646 |
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 |
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 September 30, 2016 and December 31, 2015 are as follows:
| September 30, 2016 |  | December 31, 2015
Credit Ratings * | B+ - D |  |  | BB-D |
Coupon | 5.9 | % |  | 5.9 | %
Yield | 5.9 | % |  | 6.5 | %
RemainingWeighted Average Life | 2.0 years |  |  | 1.6 years |
* | Ratings per Fitch Ratings, Inc., Moody’s Investors Service, Inc. or Standard & Poor's Ratings Services.
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 September 30, 2016 and December 31, 2015 are as follows:
Vintage | September 30, 2016 |  | December 31, 2015
2005 | 1.2 | % |  | 8.3 | %
2006 | 15.5 |  |  | 20.0 |
2007 | 71.6 |  |  | 62.4 |
2008 | 11.7 |  |  | 9.3 |
Total | 100.0 | % |  | 100.0 | %
Property Type | September 30, 2016 |  | December 31, 2015
Office | 34.6 | % |  | 32.0 | %
Retail | 27.8 |  |  | 30.2 |
Multifamily | 13.3 |  |  | 13.5 |
Other * | 24.3 |  |  | 24.3 |
Total | 100.0 | % |  | 100.0 | %
* No other individual category comprises more than 10% of the total.
Location | September 30, 2016 |  | December 31, 2015
South Atlantic | 23.0 | % |  | 23.0 | %
Middle Atlantic | 16.0 |  |  | 18.1 |
Pacific | 15.8 |  |  | 17.8 |
East North Central | 11.3 |  |  | 12.5 |
Other * | 33.9 |  |  | 28.6 |
Total | 100.0 | % |  | 100.0 | %
* No other individual category comprises more than 10% of the total.

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