Secured Borrowings Secured Borrowings (Tables)

12 Months Ended

Dec. 31, 2016

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

Schedule of Assets and Associated Liabilities Accounted for as Secured Borrowings

The Company’s secured borrowings that were outstanding as of December 31, 2016 and December 31, 2015 are summarized in the following tables:

	December 31, 2016
Collateral Type	Balance		Weighted Average Rate		Fair Value of Collateral Pledged
Agency RMBS	$	1,157,302	0.82	%	$	1,191,147
Non-Agency RMBS	26,149		1.98	%	31,952
Agency CMBS	1,005,726		0.82	%	1,095,002
Non-Agency CMBS	66,881		1.63	%	77,840
Agency CMBS IO	346,892		1.57	%	407,481
Non-Agency CMBS IO	291,199		1.67	%	341,139
Securitization financing bond	4,803		2.00	%	5,278
Total repurchase agreements	$	2,898,952	1.03	%	$	3,149,839
FHLB advances	—		—	%	—
Total secured borrowings	$	2,898,952	1.03	%	$	3,149,839

	December 31, 2015
Collateral Type	Balance		Weighted Average Rate		Fair Value of Collateral Pledged
Agency RMBS	$	1,439,436	0.47	%	$	1,483,152
Non-Agency RMBS	52,128		1.77	%	64,286
Agency CMBS	301,427		0.49	%	345,728
Non-Agency CMBS	126,378		1.26	%	143,785
Agency CMBS IOs	360,245		1.24	%	421,285
Non-Agency CMBS IOs	302,771		1.33	%	359,351
Securitization financing bond	7,035		1.65	%	8,054
Total repurchase agreements	$	2,589,420	0.75	%	$	2,825,641
FHLB advances (1)	520,000		0.40	%	541,771
Total secured borrowings	$	3,109,420	0.69	%	$	3,367,412

(1) FHLB advances were collateralized primarily with Agency CMBS as of December 31, 2015.

Schedule of Repurchase Agreement Counterparties with Whom Repurchase Agreements Exceed 10 Percent of Stockholders' Equity

The following table lists the counterparties with whom the Company had over 10% of its shareholders' equity at risk (defined as the excess of collateral pledged over the borrowings outstanding):

	December 31, 2016
Counterparty Name	Balance		Weighted Average Rate		Equity at Risk
Wells Fargo Bank, N. A. and affiliates	$	342,160	1.64	%	$	62,041