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Borrowings Under Repurchase Agreements (Tables) | 9 Months Ended
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Sep. 30, 2016
Debt Disclosure [Abstract] |
Weighted Average Maturities and Interest Rates of Borrowings | At September 30, 2016 and December 31, 2015, the Company’s borrowings had the following outstanding balances, maturities and weighted average interest rates:
| September 30, 2016 |  | December 31, 2015
Lender | Maximum Amount of Borrowings |  | Borrowings Outstanding |  | Maturity (1) |  | Weighted Average Rate (2) |  | Maximum Facility Size |  | Borrowings Outstanding |  | Maturity (1) |  | Weighted Average Rate (2)
JPMorgan Facility (3) | $ | 943,000 |  |  | $ | 648,086 |  |  | January 2019 |  | L+2.26% |  |  | $ | 600,000 |  |  | $ | 445,942 |  |  | January 2019 |  | L+2.25% |
DB Repurchase Facility | 300,000 |  |  | — |  |  | September 2019 |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |  | N/A |
Goldman Loan | N/A |  |  | 42,796 |  |  | April 2019 |  | L+3.50% |  |  | N/A |  |  | 45,928 |  |  | April 2019 |  | L+3.50% |
Sub-total |  |  |  | 690,882 |  |  |  |  | L+2.33% |  |  |  |  | 491,870 |  |  |  |  | L+2.37% |
UBS Facility | N/A |  |  | 133,899 |  |  | September 2018 |  | 2.79 | % |  | N/A |  |  | 133,899 |  |  | September 2018 |  | 2.79 | %
DB Facility (4) | N/A |  |  | 196,256 |  |  | April 2018 |  | 3.66 | % |  | N/A |  |  | 300,005 |  |  | April 2018 |  | 3.69 | %
Sub-total |  |  | 330,155 |  |  |  |  | 3.31 | % |  |  |  | 433,904 |  |  |  |  | 3.39 | %
less: deferred financing costs |  |  | (7,875 | ) |  |  |  |  |  |  |  | (7,353 | ) |  |  |  |
Total / Weighted Average |  |  |  | $ | 1,013,162 |  |  |  |  | 3.01 | % |  |  |  | $ | 918,421 |  |  |  |  | 2.92 | %
(1) Maturity date assumes all extensions are exercised. (2) Assumes one-month LIBOR at September 30, 2016 and December 31, 2015 was 0.53% and 0.43%, respectively. (3) As of September 30, 2016, the JP Morgan Facility provided for maximum total borrowings comprised of the$800.0 million repurchase facility and a $143.0 million asset specific financing. (4) 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, 2016, 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
JPMorgan Facility | $ | 313,547 |  |  | $ | 334,539 |  |  | $ | — |  |  | $ | — |  |  | $ | 648,086 |
DB Repurchase Facility | — |  |  | — |  |  | — |  |  | — |  |  | — |
Goldman Loan | 5,290 |  |  | 37,506 |  |  | — |  |  | — |  |  | 42,796 |
UBS Facility * | 260 |  |  | 133,639 |  |  | — |  |  | — |  |  | 133,899 |
DB Facility | 185 |  |  | 174,718 |  |  | 8,643 |  |  | 12,710 |  |  | 196,256 |
Total | $ | 319,282 |  |  | $ | 680,402 |  |  | $ | 8,643 |  |  | $ | 12,710 |  |  | $ | 1,021,037 |
*Assumes extension option is exercised.
Schedule of Outstanding, Maximum and Average Balances of Debt | The table below summarizes the outstanding balances at September 30, 2016, as well as the maximum and average month-end balances for the nine months ended September 30, 2016 for the Company's borrowings under repurchase agreements.
|  |  | For the nine months ended September 30, 2016
| Balance at September 30, 2016 |  | Maximum Month-End Balance |  | Average Month-End Balance
JPMorgan Facility borrowings | $ | 648,086 |  |  | $ | 800,917 |  |  | $ | 675,061 |
DB Repurchase Facility | — |  |  | — |  |  | — |
Goldman Loan | 42,796 |  |  | 45,928 |  |  | 44,105 |
UBS Facility borrowings | 133,899 |  |  | 133,899 |  |  | 133,899 |
DB Facility borrowings | 196,256 |  |  | 300,005 |  |  | 266,056 |
Total | $ | 1,021,037 |  |  |  |  |

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