MORTGAGE-BACKED SECURITIES

6 Months Ended

Jun. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Mortgage-Backed Securities

NOTE 2. MORTGAGE-BACKED SECURITIES

The following table presents the Company’s RMBS portfolio as of June 30, 2019 and December 31, 2018:

(in thousands)
		June 30, 2019		December 31, 2018
Pass-Through RMBS Certificates:
	Adjustable-rate Mortgages	$	1,194	$	1,437
	Fixed-rate Mortgages		2,723,688		2,130,974
	Fixed-rate CMOs		674,578		741,926
	Total Pass-Through Certificates		3,399,460		2,874,337
Structured RMBS Certificates:
	Interest-Only Securities		101,678		116,415
	Inverse Interest-Only Securities		26,118		23,751
	Total Structured RMBS Certificates		127,796		140,166
Total		$	3,527,256	$	3,014,503