SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2019

Subsequent Events [Abstract]

Subsequent Events

23.  SUBSEQUENT EVENTS

In October 2019, the Company completed and closed its fifth securitization of residential mortgage loans for the 2019 calendar year, OBX 2019-EXP3 Trust, with a face value of $465.5 million. The securitization represented a financing transaction which provided non-recourse financing to the Company collateralized by residential mortgage loans purchased by the Company.

In October 2019, the Company repurchased 7.9 million shares of its common stock for an aggregate amount of $68.2 million, excluding commission costs, under the Company’s stock repurchase program.