SECURED FINANCING (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Repurchase Agreements Remaining Maturity ,Collateral Types and Weighted Average Rates

At December 31, 2017 and 2016, the repurchase agreements had the following remaining maturities, collateral types and weighted average rates:



	December 31, 2017
	Agency Mortgage-Backed Securities		CRTs		Non-Agency Mortgage-Backed Securities		Commercial Loans		Commercial Mortgage-Backed Securities		Total Repurchase Agreements		Weighted Average Rate
	(dollars in thousands)
1 day	$	—	$	—	$	—	$	—	$	—	$	—	—
2 to 29 days	33,421,609		263,528		253,290		—		18,125		33,956,552		1.69	%
30 to 59 days	10,811,515		7,229		3,658		—		6,375		10,828,777		1.44	%
60 to 89 days	13,800,743		7,214		47,830		—		—		13,855,787		1.59	%
90 to 119 days	10,128,006		—		—		—		—		10,128,006		1.39	%
Over 120 days ⁽¹⁾	8,542,108		—		—		385,113		—		8,927,221		1.77	%
Total	$	76,703,981	$	277,971	$	304,778	$	385,113	$	24,500	$	77,696,343	1.61	%



	December 31, 2016
	Agency Mortgage-Backed Securities		CRTs		Non-Agency Mortgage-Backed Securities		Commercial Loans		Total Repurchase Agreements		Weighted Average Rate
	(dollars in thousands)
1 day	$	—	$	—	$	—	$	—	$	—	—
2 to 29 days	29,657,705		358,972		377,366		—		30,394,043		0.87	%
30 to 59 days	11,373,300		80,139		241,360		—		11,694,799		1.10	%
60 to 89 days	6,966,827		13,914		101,491		—		7,082,232		1.14	%
90 to 119 days	2,063,561		—		—		—		2,063,561		0.89	%
Over 120 days ⁽¹⁾	13,646,308		—		—		334,867		13,981,175		1.47	%
Total	$	63,707,701	$	453,025	$	720,217	$	334,867	$	65,215,810	1.07	%


(1)	Approximately 1% and 7% of the total repurchase agreements had a remaining maturity over 1 year at December 31, 2017 and 2016, respectively.

Summary of Gross Amounts, Amounts Offset and net Amounts of Repurchase Agreement and Reverse Repurchase Agreement

The following table summarizes the gross amounts of reverse repurchase agreements and repurchase agreements, amounts offset in accordance with netting arrangements and net amounts of repurchase agreements and reverse repurchase agreements as presented in the Consolidated Statements of Financial Condition at December 31, 2017 and 2016. Refer to the “Derivative Instruments” Note for information related to the effect of netting arrangements on the Company’s derivative instruments.



	December 31, 2017						December 31, 2016
	Reverse Repurchase Agreements			Repurchase Agreements			Reverse Repurchase Agreements			Repurchase Agreements
	(dollars in thousands)
Gross Amounts	$	1,250,000		$	78,946,343		$	400,000		$	65,615,810
Amounts Offset	(1,250,000		)	(1,250,000		)	(400,000		)	(400,000		)
Netted Amounts	$	—		$	77,696,343		$	—		$	65,215,810