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Borrowings Under Repurchase Agreements (Tables) | 6 Months Ended
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Jun. 30, 2017
Debt Disclosure [Abstract] |
Weighted Average Maturities and Interest Rates of Borrowings | At June 30, 2017 and December 31, 2016, the Company’s borrowings had the following outstanding balances, maturities and weighted average interest rates:
| June 30, 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 |  |  | $ | 794,404 |  |  | March 2020 |  | L+2.26% |  |  |  | $ | 943,000 |  |  | $ | 657,452 |  |  | January 2019 |  | L+2.25% |
DB Repurchase Facility (4) | 563,813 |  |  | 263,980 |  |  | March 2020 |  | L+2.56% |  |  |  | 300,000 |  |  | 137,355 |  |  | September 2019 |  | L+2.66% |
Goldman Loan | 37,700 |  |  | 37,700 |  |  | April 2019 |  | L+3.50% |  |  |  | N/A |  |  | 40,657 |  |  | April 2019 |  | L+3.50% |
Sub-total | 1,719,513 |  |  | 1,096,084 |  |  |  |  | L+2.37% |  |  |  |  |  |  | 835,464 |  |  |  |  | L+2.38% |
UBS Facility | 133,899 |  |  | 100,798 |  |  | September 2018 |  | 2.77 | % |  |  | N/A |  |  | 133,899 |  |  | September 2018 |  | 2.79 | %
DB Facility (5) | 300,000 |  |  | 143,372 |  |  | April 2018 |  | 3.59 | % |  |  | N/A |  |  | 177,203 |  |  | April 2018 |  | 3.63 | %
Sub-total | 433,899 |  |  | 244,170 |  |  |  |  | 3.25 | % |  |  |  |  |  | 311,102 |  |  |  |  | 3.27 | %
Less: deferred financing costs | N/A |  |  | (9,345 | ) |  |  |  | N/A |  |  |  | N/A |  |  | (6,763 | ) |  |  |  | N/A |
Total / Weighted Average | $ | 2,153,412 |  |  | $ | 1,330,909 |  |  |  |  | 3.53 | % |  |  |  |  |  | $ | 1,139,803 |  |  |  |  | 3.18 | %
(1) Maturity date assumes all extensions are exercised. (2) Assumes one-month LIBOR was 1.22% and 0.77% as of June 30, 2017 and December 31, 2016, respectively. (3) As of June 30, 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 June 30, 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 $450,000 and £45,000 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 June 30, 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 | $ | 436,546 |  |  | $ | 357,858 |  |  | $ | — |  |  | $ | — |  |  | $ | 794,404 |
DB Repurchase Facility | 58,613 |  |  | 205,367 |  |  | — |  |  | — |  |  | 263,980 |
Goldman Loan | — |  |  | 37,700 |  |  | — |  |  | — |  |  | 37,700 |
UBS Facility | — |  |  | 100,798 |  |  | — |  |  | — |  |  | 100,798 |
DB Facility | 143,372 |  |  | — |  |  | — |  |  | — |  |  | 143,372 |
Total | $ | 638,531 |  |  | $ | 701,723 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,340,254 |
Schedule of Outstanding, Maximum and Average Balances of Debt | The table below summarizes the outstanding balances at June 30, 2017, as well as the maximum and average month-end balances for the six months ended June 30, 2017 for the Company's borrowings under repurchase agreements.
|  |  | For the six months ended June 30, 2017
| Balance at June 30, 2017 |  | Maximum Month-End Balance |  | Average Month-End Balance
JPMorgan Facility borrowings | $ | 794,404 |  |  | $ | 894,031 |  |  | $ | 832,685 |
DB Repurchase Facility borrowings | 263,980 |  |  | 367,010 |  |  | 297,148 |
Goldman Loan borrowings | 37,700 |  |  | 39,590 |  |  | 38,707 |
UBS Facility borrowings | 100,798 |  |  | 133,899 |  |  | 111,832 |
DB Facility borrowings | 143,372 |  |  | 177,203 |  |  | 149,453 |
Total | $ | 1,340,254 |  |  |  |  |

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