MORTGAGE-BACKED SECURITIES

12 Months Ended

Dec. 31, 2020

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, 2020 and December 31, 2019:

(in thousands)

December 31, 2020

December 31, 2019

Pass-Through RMBS Certificates:

Adjustable-rate Mortgages 

$

-

$

1,014

Fixed-rate Mortgages 

3,560,746

3,206,013

Fixed-rate CMOs

137,453

299,205

Total Pass-Through Certificates

3,698,199

3,506,232

Structured RMBS Certificates:

Interest-Only Securities

28,696

60,986

Inverse Interest-Only Securities

-

23,703

Total Structured RMBS Certificates

28,696

84,689

Total

$

3,726,895

$

3,590,921