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Repurchase Agreements (Tables)
 9 Months Ended
Sep. 30, 2022
Disclosure of Repurchase Agreements [Abstract]  
Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets
The Company’s repurchase agreements outstanding as of September 30, 2022 and December 31, 2021 are summarized in the following tables:
 September 30, 2022December 31, 2021
Collateral TypeBalanceWeighted
Average Rate		Fair Value of
Collateral Pledged		BalanceWeighted
Average Rate		Fair Value of
Collateral Pledged
Agency RMBS$2,700,463 2.85 %$2,811,147 $2,408,126 0.17 %$2,536,094 
Agency CMBS109,855 3.21 %115,523 176,268 0.14 %184,847 
Agency CMBS IO144,321 3.30 %158,094 180,912 0.68 %192,481 
Non-Agency CMBS IO54,630 4.01 %64,077 84,610 0.99 %97,897 
Total repurchase agreements$3,009,269 2.90 %$3,148,841 $2,849,916 0.23 %$3,011,319 
The amounts for fair value of collateral pledged in the table above include $245,183 for securities sold but not settled as of September 30, 2022, and for which the sale proceeds to be received upon settlement are recorded within “due from counterparties” on the consolidated balance sheet. The Company also had $147,925 payable to counterparties for transactions pending settlement as of September 30, 2022.

The Company had repurchase agreement borrowings outstanding with 25 different counterparties as of September 30, 2022, and its equity at risk did not exceed 5% with any counterparty as of that date.
The following table provides information on the remaining term to maturity and original term to maturity for the Company’s repurchase agreements as of the dates indicated:
September 30, 2022December 31, 2021
Remaining Term to MaturityBalanceWeighted
Average Rate		WAVG Original Term to MaturityBalanceWeighted
Average Rate		WAVG Original Term to Maturity
Less than 30 days$963,976 2.86 %63 $602,994 0.42 %123 
30 to 90 days1,603,853 2.82 %75 763,302 0.14 %166 
91 to 180 days441,440 3.31 %154 1,075,324 0.15 %198 
181 days to 1 year— — %— 408,296 0.30 %366 
Total$3,009,269 2.90 %83 $2,849,916 0.23 %198 
Offsetting Repurchase Agreement Liabilities The following table presents information regarding the Company's repurchase agreements as if the Company had presented them on a net basis as of September 30, 2022 and December 31, 2021:
Gross Amount of Recognized LiabilitiesGross Amount Offset in the Balance SheetNet Amount of Liabilities Presented in the Balance Sheet
Gross Amount Not Offset in the Balance Sheet (1)
Net Amount
Financial Instruments Posted as CollateralCash Posted as Collateral
September 30, 2022
Repurchase agreements$3,009,269 $— $3,009,269 $(3,009,269)$— $— 
December 31, 2021
Repurchase agreements$2,849,916 $— $2,849,916 $(2,849,916)$— $— 
(1) Amounts disclosed for collateral received by or posted to the same counterparty include cash and the fair value of MBS up to and not exceeding the net amount of the repurchase agreement liability presented in the balance sheet. The fair value of the total collateral received by or posted to the same counterparty may exceed the amounts presented.