Counterparty Risk (Tables)

6 Months Ended

Jun. 30, 2021

Risks and Uncertainties [Abstract]

Schedules of Exposure to Counterparty Risk

The table below summarizes the geographic distribution of the real estate collateral underlying the Company's residential mortgage loans as a percentage of total outstanding unpaid principal balance as of June 30, 2021 and December 31, 2020:

Property Location by U.S. State	June 30, 2021		December 31, 2020
California	41.9	%	43.1	%
Florida	15.5	%	14.8	%
Texas	10.5	%	10.2	%
Colorado	2.9	%	3.1	%
Massachusetts	2.6	%	2.6	%
Utah	2.6	%	1.7	%
Arizona	2.3	%	2.0	%
Illinois	2.3	%	1.8	%
Nevada	1.8	%	1.9	%
Oregon	1.8	%	2.2	%
New York	1.7	%	1.6	%
North Carolina	1.3	%	1.1	%
Washington	1.2	%	1.4	%
Georgia	1.2	%	1.3	%
Connecticut	1.1	%	0.9	%
New Jersey	1.1	%	1.4	%
Maryland	0.8	%	1.0	%
Other	7.4	%	7.9	%
	100.0	%	100.0	%

The table below summarizes the geographic distribution of the real estate collateral underlying the Company's commercial mortgage loans as a percentage of total outstanding unpaid principal balance as of June 30, 2021 and December 31, 2020:

Property Location by U.S. State	June 30, 2021		December 31, 2020
Florida	19.3	%	23.8	%
New York	17.8	%	15.2	%
Connecticut	8.1	%	11.2	%
Missouri	7.9	%	7.9	%
Ohio	6.8	%	7.3	%
Massachusetts	5.7	%	6.1	%
New Jersey	5.7	%	5.8	%
California	5.5	%	5.9	%
Michigan	5.5	%	—	%
North Carolina	5.4	%	2.2	%
Arizona	4.0	%	4.3	%
New Hampshire	3.9	%	—	%
Indiana	2.6	%	2.8	%
Nevada	1.8	%	1.9	%
Virginia	—	%	4.2	%
Illinois	—	%	1.4	%
	100.0	%	100.0	%

The following table summarizes the Company's exposure to counterparty risk as of June 30, 2021 and December 31, 2020.

June 30, 2021:

	Amount of Exposure		Number of Counterparties with Exposure	Maximum Percentage of Exposure to a Single Counterparty(1)
	(In thousands)
Cash and cash equivalents	$	134,695	8	25.7	%
Collateral on repurchase agreements held by dealers(2)	2,224,775		24	20.2	%
Due from brokers	76,396		22	29.5	%
Receivable for securities sold(3)	15,333		3	91.2	%

(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, 2020:

	Amount of Exposure		Number of Counterparties with Exposure	Maximum Percentage of Exposure to a Single Counterparty(1)
	(In thousands)
Cash and cash equivalents	$	111,647	8	40.1	%
Collateral on repurchase agreements held by dealers(2)	1,860,059		24	15.3	%
Due from brokers	63,147		22	28.9	%
Receivable for securities sold(3)	1,416		2	94.5	%

(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.