| Schedule of Secured Financing Agreements and Maturities |
The secured financing agreements outstanding, weighted average borrowing rates, weighted average remaining maturities, average balances and the fair value of the collateral pledged as of June 30, 2022 and December 31, 2021 were: | | | | | | | | | | | June 30, 2022 | December 31, 2021 | | Secured financing agreements outstanding secured by: | | | | Agency RMBS (in thousands) | $ | 7,816 | | $ | 23,170 | | | Agency CMBS (in thousands) | 326,571 | | 589,535 | | Non-Agency RMBS and Loans held for investment (in thousands) (1) | 2,814,445 | | 2,648,908 | | | Total: | $ | 3,148,832 | | $ | 3,261,613 | | | | | | MBS pledged as collateral at fair value on Secured financing agreements: | | | | Agency RMBS (in thousands) | $ | 8,408 | | $ | 28,320 | | | Agency CMBS (in thousands) | 356,239 | | 617,457 | | | Non-Agency RMBS and Loans held for investment (in thousands) | 3,634,726 | | 3,747,573 | | | Total: | $ | 3,999,373 | | $ | 4,393,350 | | | | | | Average balance of Secured financing agreements secured by: | | | | Agency RMBS (in thousands) | $ | 17,402 | | $ | 47,155 | | | Agency CMBS (in thousands) | 393,014 | | 963,894 | | | Non-Agency RMBS and Loans held for investment (in thousands) | 2,869,125 | | 2,926,880 | | | Total: | $ | 3,279,541 | | $ | 3,937,929 | | | | | | Average borrowing rate of Secured financing agreements secured by: | | | | Agency RMBS | 1.45 | % | 0.68 | % | | Agency CMBS | 1.38 | % | 0.21 | % | | Non-Agency RMBS and Loans held for investment | 3.49 | % | 2.78 | % | | | | | Average remaining maturity of Secured financing agreements secured by: | | | | Agency RMBS | 18 Days | 4 Days | | Agency CMBS | 23 Days | 13 Days | | Non-Agency RMBS and Loans held for investment | 278 Days | 257 Days | | | | | Average original maturity of Secured financing agreements secured by: | | | | Agency RMBS | 91 Days | 61 Days | | Agency CMBS | 55 Days | 35 Days | | Non-Agency RMBS and Loans held for investment | 297 Days | 283 Days | | | | | | | | | | | | | | | | | | |
(1) The outstanding balance for secured financing agreements in the table above is net of $3 million of deferred financing cost as of December 31, 2021.
At June 30, 2022 and December 31, 2021, we pledged $28 million and $19 million, respectively, of margin cash collateral to the Company's secured financing agreement counterparties. At June 30, 2022 and December 31, 2021, the secured financing agreements collateralized by MBS and Loans held for investment had the following remaining maturities and borrowing rates. | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2022 | | December 31, 2021 | | | (dollars in thousands) | | Principal | Weighted Average Borrowing Rates | Range of Borrowing Rates | | Principal (1) | Weighted Average Borrowing Rates | Range of Borrowing Rates | | | | | | | | | | 1 to 29 days | 322,212 | | 1.46% | 1.12% - 1.75% | | 1,018,670 | | 0.73% | 0.11% - 1.95% | | 30 to 59 days | 383,451 | | 2.67% | 1.18% - 4.40% | | 379,031 | | 1.66% | 1.55% - 1.70% | | 60 to 89 days | 98,567 | | 2.09% | 1.73% - 2.44% | | 342,790 | | 1.86% | 0.90% - 2.35% | | 90 to 119 days | 234,331 | | 3.93% | 2.42% - 4.65% | | 67,840 | | 1.66% | 1.66% - 1.66% | | 120 to 180 days | 387,481 | | 3.21% | 2.45% - 3.60% | | 157,944 | | 1.38% | 0.95% - 1.45% | | 180 days to 1 year | 1,137,376 | | 3.45% | 2.76% - 4.60% | | 895,210 | | 3.70% | 1.95% - 4.38% | | 1 to 2 years | 585,414 | | 4.25% | 3.39% - 4.38% | | 143,239 | | 3.05% | 3.05% - 3.05% | | | | | | | | | | Greater than 3 years | — | | NA | NA | | 256,889 | | 5.56% | 5.56% - 5.56% | | Total | $ | 3,148,832 | | 3.26% | | | $ | 3,261,613 | | 2.30% | |
(1) The principal balance for secured financing agreements in the table above is net of $3 million of deferred financing cost as of and December 31, 2021.
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