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Counterparty Risk
 6 Months Ended
Jun. 30, 2020
Risks and Uncertainties [Abstract]  
Counterparty Risk Counterparty Risk
The Company is exposed to concentrations of counterparty risk. It seeks to mitigate such risk by diversifying its exposure among various counterparties, when appropriate. The following table summarizes the Company's exposure to counterparty risk as of June 30, 2020 and December 31, 2019.
June 30, 2020:
 
 
Amount of Exposure
 
Number of Counterparties with Exposure
 
Maximum Percentage of Exposure to a Single Counterparty(1)
 
 
(In thousands)
 
 
 
 
Cash and cash equivalents
 
$
146,531

 
9

 
25.2
%
Collateral on repurchase agreements held by dealers(2)
 
1,628,480

 
26

 
13.8
%
Due from brokers
 
56,702

 
21

 
37.2
%
Receivable for securities sold(3)
 
14,260

 
2

 
69.9
%
(1)
Each counterparty is a large creditworthy financial institution.
(2)
Includes securities, loans, and REO as well as cash posted as collateral for repurchase agreements.
(3)
Included in Investment related receivables on the Condensed Consolidated Balance Sheet.
December 31, 2019:
 
 
Amount of Exposure
 
Number of Counterparties with Exposure
 
Maximum Percentage of Exposure to a Single Counterparty(1)
 
 
(In thousands)
 
 
 
 
Cash and cash equivalents
 
$
72,302

 
11

 
42.2
%
Collateral on repurchase agreements held by dealers(2)
 
2,793,696

 
28

 
13.8
%
Due from brokers
 
79,829

 
24

 
30.9
%
Receivable for securities sold(3)
 
69,995

 
5

 
62.3
%
(1)
Each counterparty is a large creditworthy financial institution.
(2)
Includes securities, loans, and REO as well as cash posted as collateral for repurchase agreements.
(3)
Included in Investment related receivables on the Condensed Consolidated Balance Sheet.