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AVAILABLE-FOR-SALE SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Summary of Net Realized Gain (Loss) From the Sale of 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
)
Components of Interest Income on AFS Securities
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