8. Borrowings

The Company uses repurchase agreements and FHLB advances to finance MBS purchases. Repurchase agreements and FHLB advances are collateralized by the Company’s MBS and typically bear interest at rates that are closely related to LIBOR. At September 30, 2015 and December 31, 2014, the Company had repurchase indebtedness outstanding with 26 and 25 counterparties with a weighted average remaining contractual maturity of 0.9 and 1.0 months, respectively.

The following table presents contractual maturity information regarding the Company’s repurchase agreements:

	September 30, 2015					December 31, 2014
			Weighted Average					Weighted Average
	Balance		Contractual Rate			Balance		Contractual Rate
Within 30 days	$	12,990,809		0.44	%	$	13,770,099		0.35	%
30 days to 3 months		250,000		0.52	%		1,489,732		0.36	%
3 months to 36 months		1,000,000		0.59	%		500,000		0.53	%
	$	14,240,809		0.46	%	$	15,759,831		0.36	%

The fair value of securities and accrued interest the Company had pledged under repurchase agreements at September 30, 2015 and December 31, 2014 was $14,936,324 and $16,575,106, respectively.

As of September 30, 2015, the Company had $14,132 in advances outstanding with the FHLB at a borrowing rate of 0.2% with a maturity date of October 2015. The advances are secured by the pledge of agency MBS with a fair value of $15,714. The Company’s aggregate borrowing capacity with the FHLB is $1 billion.

The Company has access to warehouse lines of credit with three financial institutions to finance purchases of whole mortgage loans. Borrowings under these facilities are charged interest at a specified margin over the one-month LIBOR interest rate. At September 30, 2015, the Company has outstanding borrowings with two counterparties totaling $33,172 with maturity dates between November 2015 and March 2016. The Company has pledged mortgage loans with a fair value of $37,407 as collateral pursuant to these lines of credit. The borrowing limit under these lines of credit is $300 million.

See Notes 2 and 9 for discussion of TBA dollar roll transactions, which represent off-balance sheet financing.