Repurchase Agreements Repurchase Agreements (Tables)

12 Months Ended

Dec. 31, 2014

Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]

Schedule of Assets and Associated Liabilities Accounted for as Secured Borrowings [Table Text Block]

The following tables present the components of the Company’s repurchase agreements as of December 31, 2014 and December 31, 2013 by the fair value and type of securities pledged as collateral:

	December 31, 2014
Collateral Type	Balance		Weighted Average Rate		Fair Value of Collateral Pledged
Agency RMBS	$	1,977,338	0.39	%	2,064,704
Non-Agency RMBS	17,594		1.57	%	21,787
Agency CMBS	253,857		0.36	%	291,103
Non-Agency CMBS	114,895		1.15	%	140,216
Agency CMBS IOs	372,609		0.92	%	430,638
Non-Agency CMBS IO	266,983		1.04	%	315,149
Securitization financing bonds	9,834		1.51	%	11,000
	$	3,013,110	0.55	%	$	3,274,597

	December 31, 2013
Collateral Type	Balance			Weighted Average Rate		Fair Value of Collateral Pledged
Agency RMBS	$	2,522,503		0.42	%	2,598,158
Non-Agency RMBS	10,569			1.80	%	12,746
Agency CMBS	246,849			0.39	%	306,318
Non-Agency CMBS	303,674			1.27	%	367,859
Agency CMBS IOs	369,948			1.16	%	449,072
Non-Agency CMBS IOs	106,803			1.27	%	136,227
Securitization financing bonds	20,651			1.59	%	19,686
Deferred costs	(243		)	n/a		n/a
	$	3,580,754		0.61	%	$	3,890,066

The combined weighted average original term to maturity for the Company’s repurchase agreements was 144 days as of December 31, 2014 compared to 114 days as of December 31, 2013. The following table provides a summary of the original maturities as of December 31, 2014 and December 31, 2013:

Original Maturity	December 31, 2014		December 31, 2013
Less than 30 days	$	250,635	$	4,736
30 to 90 days	617,399		1,176,631
91 to 180 days	904,830		1,439,225
181 to 364 days	1,030,569		960,405
1 year or longer	209,677		—
Deferred costs	—		(243		)
	$	3,013,110	$	3,580,754