INTEREST INCOME AND INTEREST EXPENSE

3 Months Ended

Mar. 31, 2018

Banking and Thrift, Interest [Abstract]

INTEREST INCOME AND INTEREST EXPENSE

INTEREST INCOME AND INTEREST EXPENSE

The following table presents the components of the Company’s interest income and interest expense for the three months ended March 31, 2018 and 2017.

	For the Three Months Ended
	March 31, 2018		March 31, 2017
Interest income:	(dollars in thousands)
Residential Investment Securities	$	779,588	$	515,910
Residential mortgage loans	15,505		3,864
Commercial investment portfolio (1)	72,457		64,345
Reverse repurchase agreements	11,937		3,608
Total interest income	879,487		587,727
Interest expense:
Repurchase agreements	331,374		173,090
Securitized debt of consolidated VIEs	15,652		14,850
Participation sold	—		153
Other	20,395		10,332
Total interest expense	367,421		198,425
Net interest income	$	512,066	$	389,302

(1)Includes commercial real estate debt, preferred equity and corporate debt.