Repurchase Agreements

6 Months Ended

Jun. 30, 2021

Repurchase Agreements [Abstract]

Repurchase Agreements

Note 11 – Repurchase Agreements

The Company had outstanding approximately $897 million and $1.1 billion of borrowings under its repurchase agreements as of June 30, 2021 and December 31, 2020, respectively. The Company’s obligations under these agreements had weighted average remaining maturities of 41 days and 28 days as of June 30, 2021 and December 31, 2020. RMBS and cash have been pledged as collateral under these repurchase agreements (see Note 4).

The repurchase agreements had the following remaining maturities and weighted average rates as of the dates indicated (dollars in thousands):

Repurchase Agreements Characteristics

As of June 30, 2021

	Repurchase Agreements		Weighted Average Rate
Less than one month	$	400,417		0.10	%
One to three months		496,630		0.11	%
Total/Weighted Average	$	897,047		0.11	%

As of December 31, 2020

	Repurchase Agreements		Weighted Average Rate
Less than one month	$	482,319		0.23	%
One to three months		667,659		0.23	%
Total/Weighted Average	$	1,149,978		0.23	%

There were no overnight or demand securities as of June 30, 2021 or December 31, 2020.