The below table details TBA assets, liabilities, and the respective related payables and receivables as of September 30, 2017 and December 31, 2016: | | | | | | | | | | | | As of | | | September 30, 2017 | | December 31, 2016 | Assets: | | (In thousands) | TBA securities, at fair value (Current principal: $115,303 and $67,720, respectively) | | $ | 121,009 |
| | $ | 70,525 |
| Receivable for securities sold relating to unsettled TBA sales | | 471,626 |
| | 406,708 |
| Liabilities: | | | | | TBA securities sold short, at fair value (Current principal: -$447,590 and -$384,155, respectively) | | $ | (470,487 | ) | | $ | (404,728 | ) | Payable for securities purchased relating to unsettled TBA purchases | | (121,353 | ) | | (70,347 | ) | Net short TBA securities, at fair value | | (349,478 | ) | | (334,203 | ) |
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