v3.21.2

Counterparty Risk (Tables) | 9 Months Ended
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Sep. 30, 2021
Risks and Uncertainties [Abstract] |
Schedules of Exposure to Counterparty Risk | The table below summarizes the geographic distribution of the real estate collateral underlying the Company's residential mortgage loans as a percentage of total outstanding unpaid principal balance as of September 30, 2021 and December 31, 2020:
Property Location by U.S. State |  | September 30, 2021 |  | December 31, 2020
California |  | 41.2 | % |  | 43.1 | %
Florida |  | 15.0 | % |  | 14.8 | %
Texas |  | 11.7 | % |  | 10.2 | %
Colorado |  | 2.6 | % |  | 3.1 | %
Utah |  | 2.6 | % |  | 1.7 | %
Arizona |  | 2.3 | % |  | 2.0 | %
Massachusetts |  | 2.3 | % |  | 2.6 | %
Illinois |  | 2.2 | % |  | 1.8 | %
Nevada |  | 1.8 | % |  | 1.9 | %
New York |  | 1.7 | % |  | 1.6 | %
Oregon |  | 1.6 | % |  | 2.2 | %
Washington |  | 1.6 | % |  | 1.4 | %
North Carolina |  | 1.6 | % |  | 1.1 | %
Georgia |  | 1.2 | % |  | 1.3 | %
Connecticut |  | 1.2 | % |  | 0.9 | %
New Jersey |  | 1.0 | % |  | 1.4 | %
Maryland |  | 0.8 | % |  | 1.0 | %
Other |  | 7.6 | % |  | 7.9 | %
|  | 100.0 | % |  | 100.0 | %
The table below summarizes the geographic distribution of the real estate collateral underlying the Company's commercial mortgage loans as a percentage of total outstanding unpaid principal balance as of September 30, 2021 and December 31, 2020:
Property Location by U.S. State |  | September 30, 2021 |  | December 31, 2020
Florida |  | 26.6 | % |  | 23.8 | %
New York |  | 20.2 | % |  | 15.2 | %
Connecticut |  | 7.0 | % |  | 11.2 | %
Missouri |  | 6.8 | % |  | 7.9 | %
Arizona |  | 6.2 | % |  | 4.3 | %
Ohio |  | 5.9 | % |  | 7.3 | %
North Carolina |  | 5.7 | % |  | 2.2 | %
New Jersey |  | 5.0 | % |  | 5.8 | %
California |  | 4.7 | % |  | 5.9 | %
Michigan |  | 4.7 | % |  | — | %
New Hampshire |  | 3.4 | % |  | — | %
Indiana |  | 2.3 | % |  | 2.8 | %
Nevada |  | 1.5 | % |  | 1.9 | %
Massachusetts |  | — | % |  | 6.1 | %
Virginia |  | — | % |  | 4.2 | %
Illinois |  | — | % |  | 1.4 | %
|  | 100.0 | % |  | 100.0 | %
The following table summarizes the Company's exposure to counterparty risk as of September 30, 2021 and December 31, 2020. September 30, 2021:
|  | Amount of Exposure |  | Number of Counterparties with Exposure |  | Maximum Percentage of Exposure to a Single Counterparty(1)
|  | (In thousands) |  |  |  |
Cash and cash equivalents |  | $ | 103,617 |  |  | 8 |  |  | 29.2 | %
Collateral on repurchase agreements held by dealers(2) |  | 2,443,429 |  |  | 24 |  |  | 28.2 | %
Due from brokers |  | 89,983 |  |  | 22 |  |  | 30.6 | %
Receivable for securities sold(3) |  | 26,992 |  |  | 3 |  |  | 49.3 | %
(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. December 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 |  | $ | 111,647 |  |  | 8 |  |  | 40.1 | %
Collateral on repurchase agreements held by dealers(2) |  | 1,860,059 |  |  | 24 |  |  | 15.3 | %
Due from brokers |  | 63,147 |  |  | 22 |  |  | 28.9 | %
Receivable for securities sold(3) |  | 1,416 |  |  | 2 |  |  | 94.5 | %
(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.

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- Definition Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13537-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13531-108611 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6404-108592 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6327-108592 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6351-108592 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6442-108592 + Details
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