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Repurchase Agreements (Tables)
 12 Months Ended
Dec. 31, 2021
Brokers and Dealers [Abstract]  
Schedule of Borrowings Under Purchase Agreements Secured by Investments The following table presents detailed information about the Company’s financings under these repurchase agreements and associated residential loans pledged as collateral at December 31, 2021 and 2020, respectively (dollar amounts in thousands):
    
Maximum Aggregate Uncommitted Principal Amount
Outstanding
Repurchase Agreements (1)
Net Deferred Finance Costs (2)
Carrying Value of Repurchase AgreementsFair Value of Loans Pledged Weighted Average Rate
Weighted Average Months to Maturity (3)
December 31, 2021$1,252,352 $554,784 $(525)$554,259 $729,649 2.79 %4.38
December 31, 2020$1,301,389 $407,213 $(1,682)$405,531 $575,380 2.92 %11.92

(1)Includes a non-mark-to-market repurchase agreement with an outstanding balance of $15.6 million, a rate of 4.00%, and months to maturity of 2.03 months as of December 31, 2021. Includes non-mark-to-market repurchase agreements with an outstanding balance of $49.8 million, weighted average rate of 4.00%, and weighted average maturity of 8.80 months as of December 31, 2020.
(2)Costs related to the repurchase agreements, which include commitment, underwriting, legal, accounting and other fees, are reflected as deferred charges. Such costs are presented as a deduction from the corresponding debt liability on the Company’s accompanying consolidated balance sheets and are amortized as an adjustment to interest expense using the effective interest method, or straight line-method, if the result is not materially different.
(3)The Company expects to roll outstanding amounts under these repurchase agreements into new repurchase agreements or other financings, or to repay outstanding amounts, prior to or at maturity.