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Borrowings under Repurchase Agreements (Tables)

9 Months Ended

Sep. 30, 2018

Disclosure of Repurchase Agreements [Abstract]

Schedule of Repurchase Agreements [Table Text Block]

The following table details the Company's outstanding borrowings under repurchase agreements as of September 30, 2018 and December 31, 2017:

		September 30, 2018									December 31, 2017
						Weighted Average									Weighted Average
Remaining Days to Maturity		Borrowings Outstanding				Interest Rate			Remaining Days to Maturity		Borrowings Outstanding				Interest Rate			Remaining Days to Maturity
		(In thousands)
30 days or less		$	346,841			2.21	%		15		$	410,628			1.41	%		15
31-60 days		721,514				2.25			45		906,602				1.46			46
61-90 days		342,650				2.36			77		273,665				1.60			74
91-120 days		89,627				2.30			108		6,311				1.61			120
Total		$	1,500,632			2.27	%		49		$	1,597,206			1.47	%		43

Schedule of Repurchase Agreement Counterparties with Whom Repurchase Agreements Exceed 10 Percent of Stockholders' Equity [Table Text Block]

Amount at risk represents the excess, if any, for each counterparty of the fair value of collateral held by such counterparty over the amounts outstanding under repurchase agreements. The following table reflects counterparties for which the amounts at risk relating to our repurchase agreements were greater than 10% of shareholders' equity as of September 30, 2018. There was no counterparty for which the amount at risk was greater than 10% of shareholders' equity as of December 31, 2017.

September 30, 2018:

Counterparty		Amount at Risk(1)				Weighted Average Remaining Days to Maturity		Percentage of Shareholders' Equity
		(In thousands)
Royal Bank of Canada		$	17,085			64		10.0	%

(1) Amounts at risk exclude, in aggregate, $0.1 million of net accrued interest, defined as accrued interest on securities held as collateral less interest payable on cash borrowed.

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- Definition

Tabular disclosure, as of the balance sheet date, of the amount at risk under repurchase agreements with any individual counterparty or group of related counterparties which exceeds 10 percent of stockholders' equity. Includes the name of each counterparty or group of related counterparties, the amount at risk with each, and the weighted average maturity of the repurchase agreements with each. The amount at risk under repurchase agreements is defined as the excess of carrying amount (or market value, if higher than the carrying amount or if there is no carrying amount) of the securities or other assets sold under agreement to repurchase, including accrued interest plus any cash or other assets on deposit to secure the repurchase obligation, over the amount of the repurchase liability (adjusted for accrued interest).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(m)(1)(i)(B)(iii))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

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- Definition

The entire disclosure for repurchase agreements.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(m)(1))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

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