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Borrowings Under Repurchase Agreements (Tables) | 3 Months Ended
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Mar. 31, 2017
Debt Disclosure [Abstract] |
Weighted Average Maturities and Interest Rates of Borrowings | At March 31, 2017 and December 31, 2016, the Company’s borrowings had the following outstanding balances, maturities and weighted average interest rates:
| March 31, 2017 |  | December 31, 2016
Lender | Maximum Amount of Borrowings |  | Borrowings Outstanding |  | Maturity (1) |  | Weighted Average Rate (2) |  | Maximum Amount of Borrowings |  | Borrowings Outstanding |  | Maturity (1) |  | Weighted Average Rate (2)
JPMorgan Facility (3) | $ | 1,118,000 |  |  | $ | 894,031 |  |  | March 2020 |  | L+2.27% |  |  | $ | 943,000 |  |  | $ | 657,452 |  |  | January 2019 |  | L+2.25% |
DB Repurchase Facility (4) | 355,200 |  |  | 308,730 |  |  | September 2019 |  | L+2.57% |  |  | 300,000 |  |  | 137,355 |  |  | September 2019 |  | L+2.66% |
Goldman Loan | N/A |  |  | 39,001 |  |  | April 2019 |  | L+3.50% |  |  | N/A |  |  | 40,657 |  |  | April 2019 |  | L+3.50% |
Sub-total |  |  |  | 1,241,762 |  |  |  |  | L+2.38% |  |  |  |  | 835,464 |  |  |  |  | L+2.38% |
UBS Facility | N/A |  |  | 100,798 |  |  | September 2018 |  | 2.77 | % |  | N/A |  |  | 133,899 |  |  | September 2018 |  | 2.79 | %
DB Facility (5) | N/A |  |  | 144,675 |  |  | April 2018 |  | 3.59 | % |  | N/A |  |  | 177,203 |  |  | April 2018 |  | 3.63 | %
Sub-total |  |  | 245,473 |  |  |  |  | 3.25 | % |  |  |  | 311,102 |  |  |  |  | 3.27 | %
less: deferred financing costs |  |  | (9,954 | ) |  |  |  |  |  |  |  | (6,763 | ) |  |  |  |
Total / Weighted Average |  |  |  | $ | 1,477,281 |  |  |  |  | 3.35 | % |  |  |  | $ | 1,139,803 |  |  |  |  | 3.18 | %
(1) Maturity date assumes all extensions are exercised. (2) Assumes one-month LIBOR was 0.98% and 0.77% as of March 31, 2017 and December 31, 2016, respectively. (3) As of March 31, 2017, the Company's master repurchase agreement with JPMorgan Chase Bank, National Association (the "JPMorgan Facility") provided for maximum total borrowings comprised of the $975,000 repurchase facility and a $143,000 asset specific financing. (4) As of March 31, 2017, the Company's master repurchase agreement with Deutsche Bank AG, Cayman Islands Branch (the "DB Repurchase Facility") provided for maximum total borrowings comprised of the $300,000 repurchase facility and a $55,200 asset specific financing. (5) 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 March 31, 2017, 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 | $ | 29,251 |  |  | $ | 864,780 |  |  | $ | — |  |  | $ | — |  |  | $ | 894,031 |
DB Repurchase Facility | — |  |  | 308,730 |  |  | — |  |  | — |  |  | 308,730 |
Goldman Loan | 5,290 |  |  | 33,711 |  |  | — |  |  | — |  |  | 39,001 |
UBS Facility | 100,798 |  |  | — |  |  | — |  |  | — |  |  | 100,798 |
DB Facility | 1,540 |  |  | 143,135 |  |  | — |  |  | — |  |  | 144,675 |
Total | $ | 136,879 |  |  | $ | 1,350,356 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,487,235 |
Schedule of Outstanding, Maximum and Average Balances of Debt | The table below summarizes the outstanding balances at March 31, 2017, as well as the maximum and average month-end balances for the three months ended March 31, 2017 for the Company's borrowings under repurchase agreements.
|  |  | For the three months ended March 31, 2017
| Balance at March 31, 2017 |  | Maximum Month-End Balance |  | Average Month-End Balance
JPMorgan Facility borrowings | $ | 894,031 |  |  | $ | 894,031 |  |  | $ | 767,774 |
DB Repurchase Facility | 308,730 |  |  | 308,730 |  |  | 223,012 |
Goldman Loan | 39,001 |  |  | 40,657 |  |  | 39,976 |
UBS Facility borrowings | 100,798 |  |  | 133,899 |  |  | 125,623 |
DB Facility borrowings | 144,675 |  |  | 157,500 |  |  | 149,257 |
Total | $ | 1,487,235 |  |  |  |  |

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