| Counterparty Risk The Company is exposed to concentrations of counterparty risk. It seeks to mitigate such risk by diversifying its exposure among various counterparties, when appropriate. The following table summarizes the Company's exposure to counterparty risk as of March 31, 2020 and December 31, 2019. March 31, 2020: | | | | | | | | | | | | | | Amount of Exposure | | Number of Counterparties with Exposure | | Maximum Percentage of Exposure to a Single Counterparty(1) | | | (In thousands) | | | | | Cash and cash equivalents | | $ | 136,740 |
| | 10 |
| | 33.6 | % | Collateral on repurchase agreements held by dealers(2) | | 2,381,564 |
| | 28 |
| | 22.5 | % | Due from brokers | | 166,516 |
| | 27 |
| | 17.9 | % | Receivable for securities sold(3) | | 347,362 |
| | 9 |
| | 38.2 | % |
| | (1) | Each counterparty is a large creditworthy financial institution. |
| | (2) | Includes securities, loans, and REO as well as cash posted as collateral for repurchase agreements. |
| | (3) | Included in Investment related receivables on the Condensed Consolidated Balance Sheet. |
December 31, 2019: | | | | | | | | | | | | | | Amount of Exposure | | Number of Counterparties with Exposure | | Maximum Percentage of Exposure to a Single Counterparty(1) | | | (In thousands) | | | | | Cash and cash equivalents | | $ | 72,302 |
| | 11 |
| | 42.2 | % | Collateral on repurchase agreements held by dealers(2) | | 2,793,696 |
| | 28 |
| | 13.8 | % | Due from brokers | | 79,829 |
| | 24 |
| | 30.9 | % | Receivable for securities sold(3) | | 69,995 |
| | 5 |
| | 62.3 | % |
| | (1) | Each counterparty is a large creditworthy financial institution. |
| | (2) | Includes securities, loans, and REO as well as cash posted as collateral for repurchase agreements. |
(3) Included in Investment related receivables on the Condensed Consolidated Balance Sheet. |