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Securities (Tables) | 3 Months Ended
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Mar. 31, 2017
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, 2016 are summarized as follows:
Security Description | Face Amount |  | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Estimated Fair Value
CMBS (Fair Value Option) | $ | 375,861 |  |  | $ | 368,247 |  |  | $ | 292 |  |  | $ | (37,463 | ) |  | $ | 331,076 |
CMBS (Held-to-Maturity) | 146,530 |  |  | 146,352 |  |  | — |  |  | — |  |  | 146,352 |
Total | $ | 522,391 |  |  | $ | 514,599 |  |  | $ | 292 |  |  | $ | (37,463 | ) |  | $ | 477,428 |
The amortized cost and estimated fair value of the Company’s debt securities at March 31, 2017 are summarized as follows:
Security Description | Face Amount |  | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Estimated Fair Value
CMBS (Fair Value Option) | $ | 304,768 |  |  | $ | 296,159 |  |  | $ | 1,833 |  |  | $ | (36,151 | ) |  | $ | 261,841 |
CMBS (Held-to-Maturity) | 145,780 |  |  | 145,780 |  |  | — |  |  | — |  |  | 145,780 |
Total | $ | 450,548 |  |  | $ | 441,939 |  |  | $ | 1,833 |  |  | $ | (36,151 | ) |  | $ | 407,621 |
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) calculated on a weighted average basis as of March 31, 2017 and December 31, 2016 are as follows:
| March 31, 2017 |  | December 31, 2016
Credit Ratings * | B-NR |  |  | B+-NR |
Coupon | 5.9 | % |  | 5.9 | %
Yield | 4.3 | % |  | 6.0 | %
Weighted Average Life | 2.4 years |  |  | 2.5 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 Company's CMBS (Fair Value Option) calculated on a weighted average basis as of March 31, 2017 and December 31, 2016 are as follows:
Vintage | March 31, 2017 |  | December 31, 2016
2005 | 2.5 | % |  | 2.0 | %
2006 | 14.9 |  |  | 12.1 |
2007 | 67.4 |  |  | 73.5 |
2008 | 15.2 |  |  | 12.4 |
Total | 100.0 | % |  | 100.0 | %
Property Type | March 31, 2017 |  | December 31, 2016
Office | 31.7 | % |  | 34.6 | %
Retail | 32.5 |  |  | 29.0 |
Multifamily | 11.3 |  |  | 12.4 |
Other (1) | 24.5 |  |  | 24.0 |
Total | 100.0 | % |  | 100.0 | %
(1) No other individual category comprises more than 10% of the total.
Location | March 31, 2017 |  | December 31, 2016
South Atlantic | 26.7 | % |  | 23.8 | %
Middle Atlantic | 15.7 |  |  | 16.7 |
Pacific | 13.9 |  |  | 15.3 |
East North Central | 12.1 |  |  | 10.8 |
Other (1) | 31.6 |  |  | 33.4 |
Total | 100.0 | % |  | 100.0 | %
(1) No other individual category comprises more than 10% of the total.

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