MORTGAGE-BACKED SECURITIES (Tables)

12 Months Ended

Dec. 31, 2017

Mortgage Backed Securities [Line Items]

Schedule of Mortgage-Backed Securities Reconciliation

The following table presents the Company’s MBS portfolio as ofDecember 31, 2017 and2016:

(in thousands)
		2017		2016
Pass-Through MBS:
	Fixed-rate Mortgages	$	207,179	$	124,299
	Total Pass-Through MBS		207,179		124,299
Structured MBS:
	Interest-Only Securities		1,476		2,654
	Inverse Interest-Only Securities		1,037		3,349
	Total Structured MBS		2,513		6,003
Total		$	209,692	$	130,302

Schedule of MBS portfolio according to the contractual maturities of the securities in the portfolio

The following table summarizes the Company’s MBS portfolio as of December 31, 2017 and2016, according to the contractual maturities of the securities in the portfolio. Actual maturities of MBS investments are generally shorter than stated contractual maturities and are affected by the contractual lives of the underlying mortgages, periodic payments of principal, and prepayments of principal.

(in thousands)
	2017		2016
Greater than or equal to ten years	$	209,692	$	130,302
Total	$	209,692	$	130,302