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Financings (Tables)
 3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Summary of certain characteristics of the Company's repurchase agreements The following table summarizes certain characteristics of the Company’s repurchase agreements at March 31, 2020 and December 31, 2019 (dollars in thousands): 
 March 31, 2020December 31, 2019
Securities PledgedRepurchase Agreement BorrowingsWeighted Average Interest Rate on Borrowings Outstanding at  end of periodWeighted Average Remaining Maturity (days)Repurchase Agreement BorrowingsWeighted Average Interest Rate on Borrowings Outstanding at end of periodWeighted Average Remaining Maturity (days)
Short Term Borrowings:
Agency CMBS$437,577  1.38 %27$1,352,248  2.05 %  26
Agency RMBS11,852  2.35 %21348,274  1.99 %  52
Non-Agency CMBS214,972  3.04 %24190,390  3.05 %  35
Non-Agency RMBS20,148  3.09 %830,481  3.56 %  9
Residential Whole Loans (1)
272,458  2.99 %129266,294  3.14 %202
Residential Bridge Loans (1)
24,222  3.79 %2829,869  3.93 %  28
Commercial Loans (1)
47,547  3.90 %2862,746  4.04 %  28
Securitized commercial loans (1)
32,803  2.76 %29116,087  3.93 %  49
Other securities53,244  3.15 %2856,762  3.23 %  34
Subtotal1,114,823  2.42 %512,453,151  2.44 %51
Long Term Borrowings:
Residential Whole Loans (1) (2)
285,409  2.67 %1004209,878  3.55 %1358
Commercial Loans (2)
153,549  2.73 %503161,848  3.88 %  590
Subtotal438,958  2.70 %829371,726  3.70 %1024
Repurchase agreements borrowings$1,553,781  2.50 %271$2,824,877  2.61 %179
Less unamortized debt issuance costs66  N/A  N/A76  N/A  N/A
Repurchase agreements borrowings, net$1,553,715  2.50 %271$2,824,801  2.61 %179

(1)Repurchase agreement borrowings on loans owned are through trust certificates.  The trust certificates are eliminated upon consolidation.
(2)Certain Residential Whole Loans and Commercial Loans were financed under two new longer term repurchase agreements. The Company entered into a $700.0 million residential and $200.0 million commercial facility. These facilities automatically roll until such time as they are terminated or until certain conditions of default. The weighted average remaining maturity days was calculated using expected weighted life of the underlying collateral.
Schedule of repurchase agreements collateralized by investments At March 31, 2020 and December 31, 2019, repurchase agreements collateralized by investments had the following remaining maturities:
 
(dollars in thousands)March 31, 2020December 31, 2019
1 to 29 days695,385  1,480,286  
30 to 59 days244,810  552,786  
60 to 89 days37,699  255,814  
Greater than or equal to 90 days575,887  535,991  
Total$1,553,781  $2,824,877  
Schedule of amounts of collateral at risk under its repurchase agreements greater than 10% of the Company's equity with any counterparty
At March 31, 2020, the following table reflects amounts of collateral at risk under its repurchase agreements greater than 10% of the Company's equity with any counterparty (dollars in thousands):
 March 31, 2020
CounterpartyAmount of  Collateral at Risk, at fair valueWeighted Average Remaining Maturity (days)Percentage of  Stockholders’  Equity
Credit Suisse AG, Cayman Islands Branch$143,835  78278.9 %
Barclays Capital Inc. 42,491  2423.3 %
Nomura Securities International, Inc. 31,848  2817.5 %
JP Morgan Securities LLC29,526  2316.2 %
Summary of collateral positions, with respect to borrowings under repurchase agreements, securitized debt, derivatives and clearing margin account
The following table summarizes the Company’s collateral positions, with respect to its borrowings under repurchase agreements at March 31, 2020 and December 31, 2019 (dollars in thousands):
 
 March 31, 2020December 31, 2019
 Assets PledgedAccrued Interest Assets Pledged and Accrued InterestAssets PledgedAccrued Interest Assets Pledged and Accrued Interest
Assets pledged for borrowings under repurchase agreements:   
Agency CMBS, at fair value$457,400  $1,036  $458,436  $1,400,230  $3,916  $1,404,146  
Agency RMBS, at fair value14,442  354  14,796  356,687  1,336  358,023  
Non-Agency CMBS, at fair value239,351  1,085  240,436  246,797  951  247,748  
Non-Agency RMBS, at fair value26,296  336  26,632  45,816  414  46,230  
Residential Whole Loans, at fair value(1)
576,769  4,732  581,501  529,495  3,704  533,199  
Residential Bridge Loans(1)
27,571  359  27,930  34,897  471  35,368  
Commercial Loans, at fair value(1)
320,308  1,723  322,031  350,213  1,855  352,068  
Securitized commercial loans, at fair value (1)
39,649  127  39,776  171,640  674  172,314  
Other securities, at fair value47,307  136  47,443  80,031  128  80,159  
Cash (2)
90,540  —  90,540  43,499  —  43,499  
Total$1,839,633  $9,888  $1,849,521  $3,259,305  $13,449  $3,272,754  

(1)Loans owned through trust certificates are pledged as collateral. The trust certificates are eliminated upon consolidation.
(2)Cash posted as collateral is included in "Due from counterparties" in the Company’s Consolidated Balance Sheets.
Schedule of commercial mortgage pass-through certificates
The following table summarizes RETL 2019 Trust's commercial mortgage pass-through certificates at March 31, 2020 (dollars in thousands):
 
ClassesPrincipal BalanceCoupon Fair Value Contractual Maturity
Class A$64,835  1.9%$59,246  3/15/2021
Class B101,200  2.3%87,781  3/15/2021
Class C308,400  2.8%265,490  3/15/2021
Class HRR45,300  9.2%40,658  3/15/2021
Class X-CP(1)
N/A  2.8%130  4/15/2020
Class X-EXT(1)
N/A  N/A31  3/15/2021
$519,735  $453,336  

(1) Class X-CP and Class X-EXT are interest-only classes with an initial notional balance of $308.4 million each.
The following table summarizes the issued Arroyo Trust's residential mortgage pass-through certificates at March 31, 2020 (dollars in thousands):
 
ClassesPrincipal BalanceCoupon Carrying ValueContractual Maturity
Offered Notes:
Class A-1$634,467  3.3%$634,464  4/25/2049
Class A-233,996  3.5%33,995  4/25/2049
Class A-353,859  3.8%53,857  4/25/2049
Class M-125,055  4.8%25,055  4/25/2049
Subtotal$747,377  $747,371  
Less: Unamortized Deferred Financing CostsN/A  5,074  
Total$747,377  $742,297