Repurchase Agreements

12 Months Ended

Dec. 31, 2011

Repurchase Agreements [Abstract]

Repurchase Agreements

6. Repurchase Agreements

At December 31, 2011 and 2010, the Company had repurchase agreements in place in the amount of $16,162,375 and $8,681,060, respectively, to finance Agency MBS purchases. As of December 31, 2011 and 2010, the weighted average interest rate on these borrowings was 0.37% and 0.44%, respectively. The Company's repurchase agreements are collateralized by the Company's Agency MBS and typically bear interest that are based on LIBOR. At December 31, 2011 and 2010, the Company had repurchase agreements outstanding with 23 and 20 counterparties, respectively, with a weighted average contractual maturity of 0.8 month and 0.9 months, respectively. The following table presents the contractual repricing information regarding the Company's repurchase agreements:

	December 31, 2011					December 31, 2010
	Balance		Weighted Average Contractual Rate			Balance		Weighted Average Contractual Rate
Within 30 days	$	16,162,375		0.37	%	$	7,530,317		0.38	%
30 days to 3 months		—		—			1,050,743		0.60	%
3 months to 36 months		—		—			100,000		2.96	%
	$	16,162,375		0.37	%	$	8,681,060		0.44	%