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Secured Debt Arrangements, Net (Tables) | 12 Months Ended
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Dec. 31, 2017
Debt Disclosure [Abstract] |
Weighted Average Maturities and Interest Rates of Borrowings | At December 31, 2017 and 2016, the Company’s borrowings had the following secured debt arrangements, maturities and weighted average interest rates:
| December 31, 2017 |  | December 31, 2016
| 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) | $ | 1,393,000 |  |  | $ | 944,529 |  |  | March 2020 |  | L + 2.30% |  | $ | 943,000 |  |  | $ | 657,452 |  |  | January 2019 |  | L + 2.25% |
DB Repurchase Facility (4) | 566,009 |  |  | 319,286 |  |  | March 2020 |  | L + 2.27% |  | 300,000 |  |  | 137,355 |  |  | September 2019 |  | L + 2.66% |
Goldman Facility (5) | 331,130 |  |  | 81,380 |  |  | November 2020 |  | L + 2.73% |  | N/A |  |  | 40,657 |  |  | April 2019 |  | L + 3.50% |
Sub-total | 2,290,139 |  |  | 1,345,195 |  |  |  |  | L + 2.32% |  |  |  | 835,464 |  |  |  |  | L + 2.38% |
UBS Facility | N/A |  |  | N/A |  |  | N/A |  | N/A |  | N/A |  |  | 133,899 |  |  | September 2018 |  | 2.79 | %
DB Facility | N/A |  |  | N/A |  |  | N/A |  | N/A |  | N/A |  |  | 177,203 |  |  | April 2018 |  | 3.63 | %
Sub-total | N/A |  |  | N/A |  |  |  |  | N/A |  |  |  | 311,102 |  |  |  |  | 3.27 | %
less: deferred financing costs | N/A |  |  | (14,348 | ) |  |  |  | N/A |  | N/A |  |  | (6,763 | ) |  |  |  | N/A |
Total / Weighted Average | $ | 2,290,139 |  |  | $ | 1,330,847 |  |  |  |  | L + 2.32% |  |  |  |  | $ | 1,139,803 |  |  |  |  | 3.18 | %
——————— (1) Maturity date assumes extensions at the Company's option are exercised. (2) Assumes one-month LIBOR at December 31, 2017 and December 31, 2016 was 1.56% and 0.77% respectively. (3) As of December 31, 2017, the Company's secured debt arrangement with JPMorgan Chase Bank, National Association (the "JPMorgan Facility") provided for maximum total borrowings comprised of a $1,250,000 repurchase facility and $143,000 of an asset specific financing. (4) As of December 31, 2017, the Company's secured debt arrangement with Deutsche Bank AG, Cayman Islands Branch (the "DB Repurchase Facility") provided for maximum total borrowings comprised of a $450,000 and £45,000 repurchase facility and $55,200 of a asset specific financing. (5) As of December 31, 2017, the Company's secured debt arrangement with Goldman Sachs Bank USA (the "Goldman Facility") provided for maximum total borrowings comprised of a $300,000 repurchase facility and $31,130 of an asset specific financing.
Remaining Maturities of Borrowings | At December 31, 2017, the Company’s borrowings had the following remaining maturities:
| Less than 1 year (1) |  | 1 to 3 years (1) |  | 3 to 5 years |  | More than 5 years |  | Total
JPMorgan Facility | $ | 193,567 |  |  | $ | 750,962 |  |  | $ | — |  |  | $ | — |  |  | $ | 944,529 |
DB Repurchase Facility | 60,808 |  |  | 258,478 |  |  |  |  |  |  |  |  | 319,286 |
Goldman Facility | — |  |  | 81,380 |  |  | — |  |  | — |  |  | 81,380 |
Total | $ | 254,375 |  |  | $ | 1,090,820 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,345,195 |
——————— (1) Assumes underlying assets are financed through the fully extended maturity date of the facility.
Schedule of Outstanding, Maximum and Average Balances of Debt | The table below summarizes the outstanding balances, as well as the maximum and average balances as of December 31, 2017 and 2016.
|  |  | 2017 |  |  |  | 2016
| Balance at December 31, 2017 |  | Maximum Month-End Balance |  | Average Month-End Balance |  | Balance at December 31, 2016 |  | Maximum Month-End Balance |  | Average Month-End Balance
JPMorgan Facility | $ | 944,529 |  |  | $ | 986,611 |  |  | $ | 863,717 |  |  | $ | 657,452 |  |  | $ | 783,528 |  |  | $ | 660,741 |
DB Repurchase Facility | 319,286 |  |  | 367,010 |  |  | 288,966 |  |  | 137,355 |  |  | 137,355 |  |  | 19,582 |
Goldman Facility | 81,380 |  |  | 81,380 |  |  | 40,514 |  |  | 40,657 |  |  | 45,928 |  |  | 43,505 |
UBS Facility | — |  |  | 133,899 |  |  | 72,716 |  |  | 133,899 |  |  | 133,899 |  |  | 133,899 |
DB Facility | — |  |  | 177,203 |  |  | 117,768 |  |  | 177,203 |  |  | 300,005 |  |  | 246,773 |
Total | $ | 1,345,195 |  |  |  |  |  |  | $ | 1,146,566 |  |  |  |  |

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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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