Repurchase Agreements

3 Months Ended

Mar. 31, 2022

Repurchase Agreements [Abstract]

Repurchase Agreements

Note 11 – Repurchase Agreements

The Company had outstanding approximately $764.9 million and $865.5 million of borrowings under its repurchase agreements as of March 31, 2022 and December 31, 2021, respectively. The Company’s obligations under these agreements had weighted average remaining maturities of 33 days and 38 days as of March 31, 2022 and December 31, 2021. 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 March 31, 2022

	Repurchase Agreements		Weighted Average Rate
Less than one month	$	396,958		0.33	%
One to three months		367,927		0.46	%
Total/Weighted Average	$	764,885		0.39	%

As of December 31, 2021

	Repurchase Agreements		Weighted Average Rate
Less than one month	$	291,007		0.13	%
One to three months		574,487		0.14	%
Total/Weighted Average	$	865,494		0.14	%

There were no overnight or demand securities as of March 31, 2022 or December 31, 2021.