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Repurchase Agreements (Tables)
 3 Months Ended
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.