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Repurchase Agreements (Tables)
 6 Months Ended
Jun. 30, 2019
Banking and Thrift [Abstract]  
Schedule of Borrowings Under Financing Arrangements and Assets Pledged as Collateral The following table presents detailed information about the Company’s borrowings under these repurchase agreements and associated distressed and other residential mortgage loans pledged as collateral at June 30, 2019 and December 31, 2018 (dollar amounts in thousands):
    
 
Maximum Aggregate Uncommitted Principal Amount
 
Outstanding
Repurchase Agreements
 
Carrying Value of Loans Pledged (1)
 
Weighted Average Rate
 
Weighted Average Months to Maturity
June 30, 2019
$
950,000

 
$
761,361

 
$
891,664

 
4.43
%
 
7.01
December 31, 2018
$
950,000

 
$
589,148

 
$
754,352

 
4.67
%
 
9.24

(1) 
Includes distressed and other residential mortgage loans at fair value of $806.6 million and $626.2 million and distressed and other residential mortgage loans, net of $85.1 million and $128.1 million at June 30, 2019 and December 31, 2018, respectively.
The following table presents detailed information about the Company’s borrowings under repurchase agreements secured by investment securities and associated assets pledged as collateral at June 30, 2019 and December 31, 2018 (dollar amounts in thousands):
 
June 30, 2019
 
December 31, 2018
 
Outstanding
Repurchase Agreements
 
Fair Value of
Collateral
Pledged
 
Amortized
Cost
of Collateral
Pledged
 
Outstanding
Repurchase Agreements
 
Fair Value of
Collateral
Pledged
 
Amortized
Cost
of Collateral
Pledged
Agency ARMs RMBS
$
58,802

 
$
62,295

 
$
64,004

 
$
67,648

 
$
70,747

 
$
73,290

Agency Fixed-rate RMBS
812,811

 
858,359

 
863,160

 
857,582

 
907,610

 
940,994

Non-Agency RMBS
172,108

 
234,583

 
232,657

 
88,730

 
117,958

 
118,414

CMBS (1)
800,094

 
1,001,725

 
769,395

 
529,617

 
687,876

 
539,788

Balance at end of the period
$
1,843,815

 
$
2,156,962

 
$
1,929,216

 
$
1,543,577

 
$
1,784,191

 
$
1,672,486


(1)  
Includes first loss PO, IO and mezzanine CMBS securities with a fair value amounting to $755.3 million and $543.0 million included in the Consolidated K-Series as of June 30, 2019 and December 31, 2018, respectively.
Schedule of Contractual Maturities of Outstanding Financing Arrangements
The following table presents contractual maturity information about the Company’s outstanding repurchase agreements secured by investment securities at June 30, 2019 and December 31, 2018 (dollar amounts in thousands):
Contractual Maturity
June 30, 2019
 
December 31, 2018
Within 30 days
$
240,210

 
$
732,051

Over 30 days to 90 days
1,188,847

 
677,906

Over 90 days
414,758

 
133,620

Total
$
1,843,815

 
$
1,543,577