The Company utilizes derivative instruments to assist in the management of interest rate sensitivity by modifying the repricing, maturity and option characteristics on commercial real estate loans held at fair value. These instruments are not accounted for as effective hedges. As of September 30, 2020, the Company had entered into six interest rate swap agreements with an aggregate notional amount of $37.8 million. These swap agreements provide for the Company to receive an adjustable rate of interest based upon the three-month LIBOR. The Company recorded a loss of $2.2 million for the nine months ended September 30, 2020 to recognize the fair value of the derivative instruments which is reported in net realized and unrealized gains (losses) on commercial loans originated for sale in the consolidated statements of operations. The amount payable by the Company under these swap agreements was $2.5 million at September 30, 2020, which is reported in other liabilities. The Company had minimum collateral posting thresholds with certain of its derivative counterparties and had posted cash collateral of $2.8 million as of September 30, 2020.

The maturity dates, notional amounts, interest rates paid and received and fair value of the Company’s remaining interest rate swap agreements as of September 30, 2020 are summarized below (dollars in thousands):



	September 30, 2020
Maturity date	Notional amount	Interest rate paid	Interest rate received	Fair value
August 4, 2021	10,300	1.12%	0.25%	(78)
December 23, 2025	6,800	2.16%	0.22%	(636)
December 24, 2025	8,200	2.17%	0.22%	(775)
January 28, 2026	3,000	1.87%	0.25%	(239)
July 20, 2026	6,300	1.44%	0.27%	(377)
December 12, 2026	3,200	2.26%	0.25%	(360)
Total	$ 37,800			$ (2,465)