AVAILABLE-FOR-SALE SECURITIES

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

AVAILABLE-FOR-SALE SECURITIES

As of September 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 nine months ended September 30, 2018:

	Three Months Ended September 30, 2018		Nine Months Ended September 30, 2018
AFS securities sold, at cost	$	—	$	1,260,655,162
Proceeds from AFS securities sold	$	—	$	1,227,314,578
Net realized gain (loss) on sale of AFS securities	$	—	$	(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 nine months ended September 30, 2018:

	Three Months Ended September 30, 2018						Nine Months Ended September 30, 2018
	Coupon interest		Net (premium amortization)/ discount accretion		Interest income		Coupon interest		Net (premium amortization)/ discount accretion		Interest income
Agency	$	—	$	—	$	—	$	12,152,397	$	(1,435,534)	$	10,716,863
Multi-Family	—		—		—		—		32,103		32,103
Total	$	—	$	—	$	—	$	12,152,397	$	(1,403,431)	$	10,748,966