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AVAILABLE-FOR-SALE SECURITIES
 6 Months Ended
Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
AVAILABLE-FOR-SALE SECURITIES

As of June 30, 2019 and December 31, 2018, the Company no longer held AFS securities.

The following table presents a summary of the Company’s net realized gain (loss) from the sale of AFS securities for the three and six months ended June 30, 2018:
 
 
Three Months Ended June 30, 2018
 
Six Months Ended June 30, 2018
AFS securities sold, at cost
 
$
1,113,596,615

 
$
1,260,655,159

Proceeds from AFS securities sold
 
$
1,083,104,038

 
$
1,227,314,575

Net realized gain (loss) on sale of AFS securities
 
$
(30,492,577
)
 
$
(33,340,584
)


Gains and losses from the sale of AFS securities are recorded within "realized gain (loss) on sale of investments, net" in the Company's condensed consolidated statements of operations.

The following table presents components of interest income on the Company’s AFS securities for the three and six months ended June 30, 2018:
 
 
Three Months Ended June 30, 2018
 
Six Months Ended June 30, 2018
 
 
Coupon
interest
 
Net (premium
amortization)/
discount accretion
 
Interest
income
 
Coupon
interest
 
Net (premium
amortization)/
discount accretion
 
Interest
income
Agency
 
$
3,829,055

 
$
(159,679
)
 
$
3,669,376

 
$
12,152,397

 
$
(1,435,534
)
 
$
10,716,863

Multi-Family
 
—

 
—

 
—

 
—

 
32,103

 
32,103

Total
 
$
3,829,055

 
$
(159,679
)
 
$
3,669,376

 
$
12,152,397

 
$
(1,403,431
)
 
$
10,748,966