Repurchase Agreements (Tables)

9 Months Ended

Sep. 30, 2014

Banking And Thrift [Abstract]

Contractual Maturity Information Regarding Repurchase Agreements

At September 30, 2014 and December 31, 2013, the Company had repurchase agreements in place in the amount of $14,920,959 and $16,129,683, respectively, to finance MBS purchases.  As of September 30, 2014 and December 31, 2013, the weighted average interest rate on these borrowings was 0.32% and 0.37%, respectively.  The Company’s repurchase agreements are collateralized by the Company’s MBS and typically bear interest at rates that are closely related to LIBOR.  At September 30, 2014 and December 31, 2013, the Company had repurchase indebtedness outstanding with 26 and 25 counterparties, with a weighted average remaining contractual maturity of 1.1 and 0.8 months, respectively.  The following table presents contractual maturity information regarding the Company’s repurchase agreements:

	September 30, 2014					December 31, 2013
			Weighted Average					Weighted Average
	Balance		Contractual Rate			Balance		Contractual Rate
Within 30 days	$	13,355,150		0.31	%	$	13,170,898		0.37	%
30 days to 3 months		565,809		0.32	%		2,958,785		0.40	%
3 months to 36 months		1,000,000		0.45	%		-		-
	$	14,920,959		0.32	%	$	16,129,683		0.37	%