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Repurchase Agreements (Tables) | 3 Months Ended
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Mar. 31, 2020
Banking and Thrift [Abstract] |
Schedule of Amounts Outstanding Under Repurchase Agreements | The following table presents detailed information about the amounts outstanding under the Company’s repurchase agreements secured by investment securities and associated assets pledged as collateral at March 31, 2020 and December 31, 2019, respectively (dollar amounts in thousands):
| March 31, 2020 |  | December 31, 2019
| 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 RMBS (1) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 812,742 |  |  | $ | 865,765 |  |  | $ | 864,428 |
Agency CMBS (2) | — |  |  | — |  |  | — |  |  | 133,184 |  |  | 139,317 |  |  | 140,118 |
Non-Agency RMBS (3) (4) | 333,227 |  |  | 414,605 |  |  | 550,719 |  |  | 594,286 |  |  | 797,784 |  |  | 785,952 |
CMBS (4) (5) (6) | 380,137 |  |  | 508,826 |  |  | 507,890 |  |  | 811,890 |  |  | 1,036,513 |  |  | 853,043 |
Balance at end of the period | $ | 713,364 |  |  | $ | 923,431 |  |  | $ | 1,058,609 |  |  | $ | 2,352,102 |  |  | $ | 2,839,379 |  |  | $ | 2,643,541 |
(1) | Includes Agency RMBS securities with a fair value amounting to $26.2 million included in Consolidated SLST as of December 31, 2019.
(2) | Includes Agency CMBS securities with a fair value amounting to $88.4 million included in the Consolidated K-Series as of December 31, 2019.
(3) | Includes first loss subordinated RMBS securities with a fair value amounting to $155.4 million and $214.8 million included in Consolidated SLST as of March 31, 2020 and December 31, 2019, respectively.
(4) | Collateral pledged amounts include restricted cash posted as margin in the amount of $58.3 million related to non-Agency RMBS securities and $111.2 million related to CMBS securities included in receivables and other assets on the Company's condensed consolidated balance sheets as of March 31, 2020.
(5) | Includes first loss POs, IOs and mezzanine CMBS securities with a fair value amounting to $848.2 million included in the Consolidated K-Series as of December 31, 2019.
(6) | Includes first loss POs sold and pending settlement as of March 31, 2020 with outstanding repurchase agreement financing of $199.2 million. Proceeds from the sale in the amount of $211.2 million were subsequently used to repay the repurchase price under the repurchase agreements for these securities.
Schedule of Unencumbered Securities | The following table presents information about the Company's unencumbered securities at March 31, 2020 and December 31, 2019, respectively (dollar amounts in thousands):
Unencumbered Securities | March 31, 2020 |  | December 31, 2019
Agency RMBS | $ | — |  |  | $ | 83,351 |
CMBS | 82,406 |  |  | 235,199 |
Non-Agency RMBS | 402,564 |  |  | 168,063 |
ABS | 42,344 |  |  | 49,214 |
Total | $ | 527,314 |  |  | $ | 535,827 |
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 March 31, 2020 and December 31, 2019 (dollar amounts in thousands):
Contractual Maturity | March 31, 2020 |  | December 31, 2019
Within 30 days (1) | $ | 562,919 |  |  | $ | 449,474 |
Over 30 days to 90 days | 150,445 |  |  | 1,647,683 |
Over 90 days | — |  |  | 254,945 |
Total | $ | 713,364 |  |  | $ | 2,352,102 |
(1) Includes outstanding repurchase agreement financing of $199.2 million related to first loss POs sold and pending settlement as of March 31, 2020.
Schedule of Borrowings Under Financing Arrangements and Assets Pledged as Collateral | The following table presents detailed information about the Company’s financings under these repurchase agreements and associated residential loans pledged as collateral at March 31, 2020 and December 31, 2019, respectively (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
March 31, 2020 | $ | 1,200,000 |  |  | $ | 715,436 |  |  | $ | 918,350 |  |  | 2.87 | % |  | 8.28
December 31, 2019 | $ | 1,200,000 |  |  | $ | 754,132 |  |  | $ | 961,749 |  |  | 3.67 | % |  | 11.20
(1) Includes residential loans, at fair value of $918.4 million and $881.2 million at March 31, 2020 and December 31, 2019, respectively, and residential loans, net of $80.6 million at December 31, 2019.

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- Definition Tabular disclosure of financial instruments held by the entity for its own account for trading or investment purposes that are carried at fair value and pledged to counterparties as collateral for financing transactions. Description may include equity, fixed income, debt or other securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66007379&loc=d3e113888-111728 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729 + Details
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