SECURED FINANCING (Tables)

3 Months Ended

Mar. 31, 2018

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

At March 31, 2018 and December 31, 2017, the repurchase agreements had the following remaining maturities, collateral types and weighted average rates:



	March 31, 2018
	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	38,894,346		326,985		281,627		—		24,220		39,527,178		1.76	%
30 to 59 days	8,619,507		—		—		—		—		8,619,507		1.67	%
60 to 89 days	10,215,074		—		27,972		—		—		10,243,046		1.83	%
90 to 119 days	5,378,231		—		—		—		—		5,378,231		1.63	%
Over 120 days ⁽¹⁾	13,856,340		—		—		391,129		—		14,247,469		2.19	%
Total	$	76,963,498	$	326,985	$	309,599	$	391,129	$	24,220	$	78,015,431	1.83	%



	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	%

(1) Approximately 0% and 1% of the total repurchase agreements had a remaining maturity over 1 year at March 31, 2018 and December 31, 2017, 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 March 31, 2018 and December 31, 2017. Refer to the “Derivative Instruments” Note for information related to the effect of netting arrangements on the Company’s derivative instruments.



	March 31, 2018						December 31, 2017
	Reverse Repurchase Agreements			Repurchase Agreements			Reverse Repurchase Agreements			Repurchase Agreements
	(dollars in thousands)
Gross Amounts	$	3,375,459		$	81,190,431		$	1,250,000		$	78,946,343
Amounts Offset	(3,175,000		)	(3,175,000		)	(1,250,000		)	(1,250,000		)
Netted Amounts	$	200,459		$	78,015,431		$	—		$	77,696,343