MORTGAGE-BACKED SECURITIES

12 Months Ended

Dec. 31, 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 December 31, 2019 and December 31, 2018:

(in thousands)
		December 31, 2019		December 31, 2018
Pass-Through RMBS Certificates:
	Adjustable-rate Mortgages	$	1,014	$	1,437
	Fixed-rate Mortgages		3,206,013		2,130,974
	Fixed-rate CMOs		299,205		741,926
	Total Pass-Through Certificates		3,506,232		2,874,337
Structured RMBS Certificates:
	Interest-Only Securities		60,986		116,415
	Inverse Interest-Only Securities		23,703		23,751
	Total Structured RMBS Certificates		84,689		140,166
Total		$	3,590,921	$	3,014,503