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Repurchase Agreements (Tables)

6 Months Ended

Jun. 30, 2020

Carrying Value of Federal Funds Sold, Securities Purchased under Agreements to Resell, and Deposits Paid for Securities Borrowed [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 June 30, 2020 and December 31, 2019, respectively (dollar amounts in thousands):



	June 30, 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⁾	87,571		156,523		214,328		594,286		797,784		785,952
CMBS ⁽⁴⁾	—		—		—		811,890		1,036,513		853,043
Balance at end of the period	$	87,571	$	156,523	$	214,328	$	2,352,102	$	2,839,379	$	2,643,541


⁽¹⁾	Collateral pledged includes Agency RMBS securities with a fair value amounting to $26.2 million included in Consolidated SLST as of December 31, 2019.


⁽²⁾	Collateral pledged 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⁾	Collateral pledged includes first loss subordinated RMBS securities with a fair value amounting to $156.5 million and $214.8 million included in Consolidated SLST as of June 30, 2020 and December 31, 2019, respectively.


⁽⁴⁾	Collateral pledged 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.

Schedule of Unencumbered Securities

The following table presents information about the Company's unencumbered securities at June 30, 2020 and December 31, 2019, respectively (dollar amounts in thousands):



Unencumbered Securities	June 30, 2020		December 31, 2019
Agency RMBS	$	—	$	83,351
CMBS	288,112		235,199
Non-Agency RMBS	481,849		168,063
ABS	42,500		49,214
Total	$	812,461	$	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 June 30, 2020 and December 31, 2019 (dollar amounts in thousands):



Contractual Maturity	June 30, 2020		December 31, 2019
Within 30 days	$	—	$	449,474
Over 30 days to 90 days	87,571		1,647,683
Over 90 days	—		254,945
Total	$	87,571	$	2,352,102

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 June 30, 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
June 30, 2020	$	1,450,000	$	876,923	$	1,199,652	2.36	%	5.18
December 31, 2019	$	1,200,000	$	754,132	$	961,749	3.67	%	11.20

⁽¹⁾

Includes residential loans, at fair value of $1.2 billion and $881.2 million at June 30, 2020 and December 31, 2019, respectively, and residential loans, net of $80.6 million at December 31, 2019.