SECURED FINANCING (Tables)

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Schedule of Repurchase Agreements Remaining Maturity ,Collateral Types and Weighted Average Rates

At March 31, 2017 and December 31, 2016, the repurchase agreements had the following remaining maturities, collateral types and weighted average rates:

	March 31, 2017
	Agency Mortgage-backed Securities		CRTs		Non-Agency Mortgage-backed Securities		Commercial Loans		Commercial Mortgage-backed Securities		Total Repurchase Agreements		Weighted Average Rate
	(dollars in thousands)
1 day	$	-	$	-	$	-	$	-	$	-	$	-		-
2 to 29 days		27,819,398		325,334		530,501		-		-		28,675,233		1.02	%
30 to 59 days		6,012,259		63,163		145,273		-		6,626		6,227,321		0.99	%
60 to 89 days		10,848,937		19,233		136,697		-		-		11,004,867		1.29	%
90 to 119 days		3,625,633		-		-		-		-		3,625,633		1.24	%
Over 120 days(1)		12,776,875		-		-		409,158		-		13,186,033		1.37	%
Total	$	61,083,102	$	407,730	$	812,471	$	409,158	$	6,626	$	62,719,087		1.15	%

	December 31, 2016
	Agency Mortgage-backed Securities		CRTs		Non-Agency Mortgage-backed Securities		Commercial Loans		Total Repurchase Agreements		Weighted Average Rate
	(dollars in thousands)
1 day	$	-	$	-	$	-	$	-	$	-		-
2 to 29 days		29,657,705		358,972		377,366		-		30,394,043		0.87	%
30 to 59 days		11,373,300		80,139		241,360		-		11,694,799		1.10	%
60 to 89 days		6,966,827		13,914		101,491		-		7,082,232		1.14	%
90 to 119 days		2,063,561		-		-		-		2,063,561		0.89	%
Over 120 days(1)		13,646,308		-		-		334,867		13,981,175		1.47	%
Total	$	63,707,701	$	453,025	$	720,217	$	334,867	$	65,215,810		1.07	%

⁽¹⁾ Approximately 5% and 7% of the total repurchase agreements had a remaining maturity over 1 year as of March 31, 2017 and December 31, 2016, respectively.

Summary of Gross Amounts, Amounts Offset and net Amounts of Repurchase Agreement and Reverse Repurchase Agreement

The following table summarizes the gross amounts of reverse repurchase agreements and repurchase agreements, amounts offset in accordance with netting arrangements and net amounts of repurchase agreements and reverse repurchase agreements as presented in the Consolidated Statements of Financial Condition as of March 31, 2017 and December 31, 2016. Refer to the “Derivative Instruments” Note for information related to the effect of netting arrangements on the Company’s derivative instruments.

	March 31, 2017						December 31, 2016
	Reverse Repurchase Agreements			Repurchase Agreements			Reverse Repurchase Agreements			Repurchase Agreements
	(dollars in thousands)
Gross Amounts	$	100,000		$	62,819,087		$	400,000		$	65,615,810
Amounts Offset		(100,000	)		(100,000	)		(400,000	)		(400,000	)
Netted Amounts	$	-		$	62,719,087		$	-		$	65,215,810