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Investment Securities Available for Sale (Tables) | 3 Months Ended
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Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract] |
Schedule of Available for Sale Securities | Investment securities available for sale consisted of the following as of March 31, 2019 and December 31, 2018 (dollar amounts in thousands):
| March 31, 2019 |  | December 31, 2018
| Amortized Cost |  | Unrealized |  | Fair Value |  | Amortized Cost |  | Unrealized |  | Fair Value
|  | Gains |  | Losses |  |  |  | Gains |  | Losses |
Agency RMBS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency ARMs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Freddie Mac | $ | 26,053 |  |  | $ | — |  |  | $ | (981 | ) |  | $ | 25,072 |  |  | $ | 26,338 |  |  | $ | — |  |  | $ | (1,052 | ) |  | $ | 25,286 |
Fannie Mae | 41,673 |  |  | 6 |  |  | (1,196 | ) |  | 40,483 |  |  | 43,984 |  |  | 8 |  |  | (1,384 | ) |  | 42,608 |
Ginnie Mae | 3,440 |  |  | — |  |  | (133 | ) |  | 3,307 |  |  | 3,627 |  |  | — |  |  | (127 | ) |  | 3,500 |
Total Agency ARMs (1) | 71,166 |  |  | 6 |  |  | (2,310 | ) |  | 68,862 |  |  | 73,949 |  |  | 8 |  |  | (2,563 | ) |  | 71,394 |
Agency Fixed- Rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Freddie Mac | 85,182 |  |  | — |  |  | (1,041 | ) |  | 84,141 |  |  | 87,018 |  |  | — |  |  | (2,526 | ) |  | 84,492 |
Fannie Mae | 889,070 |  |  | 273 |  |  | (18,408 | ) |  | 870,935 |  |  | 915,039 |  |  | — |  |  | (33,195 | ) |  | 881,844 |
Ginnie Mae | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Agency Fixed-Rate | 974,252 |  |  | 273 |  |  | (19,449 | ) |  | 955,076 |  |  | 1,002,057 |  |  | — |  |  | (35,721 | ) |  | 966,336 |
Total Agency RMBS | 1,045,418 |  |  | 279 |  |  | (21,759 | ) |  | 1,023,938 |  |  | 1,076,006 |  |  | 8 |  |  | (38,284 | ) |  | 1,037,730 |
Non-Agency RMBS (1) | 310,763 |  |  | 3,738 |  |  | (415 | ) |  | 314,086 |  |  | 215,337 |  |  | 166 |  |  | (1,466 | ) |  | 214,037 |
CMBS (1) (2) | 236,873 |  |  | 9,068 |  |  | — |  |  | 245,941 |  |  | 243,046 |  |  | 17,815 |  |  | (376 | ) |  | 260,485 |
Total investment securities available for sale | $ | 1,593,054 |  |  | $ | 13,085 |  |  | $ | (22,174 | ) |  | $ | 1,583,965 |  |  | $ | 1,534,389 |  |  | $ | 17,989 |  |  | $ | (40,126 | ) |  | $ | 1,512,252 |
(1) | For the Company's Agency ARMs, non-Agency RMBS, and CMBS securities with stated reset periods, the weighted average reset periods are twenty-nine months, eight months, and one month, respectively.
(2) | Included in CMBS is $52.7 million of investment securities available for sale held in securitization trusts as of December 31, 2018.
Weighted Average Lives of Investment Securities Available for Sale | The following table sets forth the weighted average lives of our investment securities available for sale as of March 31, 2019 and December 31, 2018 (dollar amounts in thousands):
Weighted Average Life | March 31, 2019 |  | December 31, 2018
0 to 5 years | $ | 549,663 |  |  | $ | 456,947 |
Over 5 to 10 years | 552,393 |  |  | 1,043,369 |
10+ years | 481,909 |  |  | 11,936 |
Total | $ | 1,583,965 |  |  | $ | 1,512,252 |
Schedule of Investment Securities Available for Sale in Unrealized Loss Position |
December 31, 2018 | Less than 12 months |  | Greater than 12 months |  | Total
| Carrying Value |  | Gross Unrealized Losses |  | Carrying Value |  | Gross Unrealized Losses |  | Carrying Value |  | Gross Unrealized Losses
Agency RMBS | $ | 310,783 |  |  | $ | (8,037 | ) |  | $ | 726,028 |  |  | $ | (30,247 | ) |  | $ | 1,036,811 |  |  | $ | (38,284 | )
Non-Agency RMBS | 187,395 |  |  | (1,451 | ) |  | 158 |  |  | (15 | ) |  | 187,553 |  |  | (1,466 | )
CMBS | 75,292 |  |  | (376 | ) |  | — |  |  | — |  |  | 75,292 |  |  | (376 | )
Total investment securities available for sale | $ | 573,470 |  |  | $ | (9,864 | ) |  | $ | 726,186 |  |  | $ | (30,262 | ) |  | $ | 1,299,656 |  |  | $ | (40,126 | )
The following tables present the Company's investment securities available for sale in an unrealized loss position reported through other comprehensive income, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2019 and December 31, 2018 (dollar amounts in thousands):
March 31, 2019 | Less than 12 months |  | Greater than 12 months |  | Total
| Carrying Value |  | Gross Unrealized Losses |  | Carrying Value |  | Gross Unrealized Losses |  | Carrying Value |  | Gross Unrealized Losses
Agency RMBS | $ | — |  |  | $ | — |  |  | $ | 1,004,264 |  |  | $ | (21,759 | ) |  | $ | 1,004,264 |  |  | $ | (21,759 | )
Non-Agency RMBS | 51,269 |  |  | (401 | ) |  | 150 |  |  | (14 | ) |  | 51,419 |  |  | (415 | )
Total investment securities available for sale | $ | 51,269 |  |  | $ | (401 | ) |  | $ | 1,004,414 |  |  | $ | (21,773 | ) |  | $ | 1,055,683 |  |  | $ | (22,174 | )

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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