BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Certain Characteristics of the Repurchase Agreements

The following table summarizes certain characteristics of the Company’s repurchase agreements at December 31, 2017 and December 31, 2016:

	December 31, 2017						December 31, 2016
	Amount outstanding		Weighted average interest rate		Market value of collateral held		Amount outstanding		Weighted average interest rate		Market value of collateral held
Agency	$	1,228,349,000	1.55	%	$	1,285,083,649	$	755,221,000	0.97	%	$	790,190,232
Non-Agency	2,555,000		3.38	%	4,399,779		7,313,000		2.39	%	12,784,707
Multi-Family	3,618,000		3.16	%	5,742,000		42,277,000		2.52	%	73,146,566
Total	$	1,234,522,000	1.56	%	$	1,295,225,428	$	804,811,000	1.07	%	$	876,121,505

Repurchase Agreements Remaining Maturities

At December 31, 2017 and December 31, 2016, the repurchase agreements had the following remaining maturities:

	December 31, 2017		December 31, 2016
< or equal to 30 days	$	1,175,407,000	$	737,823,000
31 to 60 days	56,560,000		19,897,000
61 to 90 days	2,555,000		47,091,000
Total	$	1,234,522,000	$	804,811,000

Significant Counterparties of Repurchase Agreements

The following tables summarize certain characteristics of the Company’s repurchase agreements at December 31, 2017 and December 31, 2016:

	December 31, 2017
Repurchase Agreement Counterparties	Amount Outstanding		Percent of total amount outstanding		Weighted average days to maturity	Market Value of collateral held
North America	$	939,438,000	76.10	%	13	$	985,672,703
Asia(1)	292,529,000		23.70	%	14	305,152,946
Europe(1)	2,555,000		0.20	%	78	4,399,779
Total	$	1,234,522,000	100.00	%	13	$	1,295,225,428

(1) Counterparties domiciled in Europe and Asia, or their U.S. subsidiaries.

	December 31, 2016
Repurchase Agreement Counterparties	Amount Outstanding		Percent of total amount outstanding		Weighted average days to maturity	Market Value of collateral held
Wells Fargo Securities	$	33,666,000	4.18	%	8	57,627,433
Other North America	703,788,000		87.46	%	16	742,690,286
Asia(1)	62,733,000		7.79	%	14	66,198,478
Europe(1)	4,624,000		0.57	%	44	9,605,308
Total	$	804,811,000	100.00	%	16	$	876,121,505

(1) Counterparties domiciled in Europe and Asia, or their U.S. subsidiaries.