Securities (Tables)

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

The amortized cost and estimated fair value of the Company’s 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

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 December 31, 2016. Statistics are not presented as of December 31, 2017 because the company did not hold any CMBS (Fair Value Option):



	December 31, 2016
Credit Ratings *	B+-NR
Coupon	5.9	%
Yield	6.0	%
Weighted Average Life	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 December 31, 2016. These metrics are not presented as of December 31, 2017 because the company did not hold any CMBS (Fair Value Option):



Vintage	December 31, 2016
2005	2.0	%
2006	12.1
2007	73.5
2008	12.4
Total	100	%



Property Type	December 31, 2016
Office	34.6	%
Retail	29.0
Multifamily	12.4
Other *	24.0
Total	100	%


*	No other individual category comprises more than 10% of the total.



Location	December 31, 2016
South Atlantic	23.8	%
Middle Atlantic	16.7
Pacific	15.3
East North Central	10.8
Other *	33.4
Total	100	%


*	No other individual category comprises more than 10% of the total.