Counterparty Risk (Tables)

3 Months Ended

Mar. 31, 2022

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 March 31, 2022 and December 31, 2021:

Property Location by U.S. State	March 31, 2022		December 31, 2021
California	38.0	%	40.2	%
Florida	15.0	%	14.9	%
Texas	12.0	%	11.9	%
Utah	3.8	%	2.9	%
Arizona	2.7	%	2.1	%
Illinois	2.1	%	2.0	%
Massachusetts	2.1	%	2.2	%
Nevada	2.1	%	1.9	%
Colorado	2.0	%	2.0	%
North Carolina	1.9	%	1.8	%
Tennessee	1.9	%	1.6	%
Georgia	1.6	%	1.5	%
Oregon	1.6	%	1.8	%
Washington	1.6	%	1.5	%
New York	1.5	%	1.7	%
Connecticut	1.2	%	1.2	%
New Jersey	1.2	%	1.1	%
Other	7.7	%	7.7	%
	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 March 31, 2022 and December 31, 2021:

Property Location by U.S. State	March 31, 2022		December 31, 2021
Florida	30.3	%	32.3	%
Arizona	12.9	%	9.3	%
New York	12.5	%	13.5	%
North Carolina	6.7	%	5.9	%
Massachusetts	6.6	%	—	%
New Jersey	6.4	%	5.1	%
Illinois	5.6	%	—	%
Ohio	5.6	%	7.3	%
Michigan	3.7	%	4.9	%
Tennessee	3.2	%	7.7	%
Connecticut	2.7	%	3.5	%
New Hampshire	2.7	%	3.5	%
Pennsylvania	1.1	%	—	%
Missouri	—	%	7.0	%
	100.0	%	100.0	%

The following table summarizes the Company's exposure to counterparty risk as of March 31, 2022 and December 31, 2021.

March 31, 2022:

	Amount of Exposure		Number of Counterparties with Exposure	Maximum Percentage of Exposure to a Single Counterparty(1)
	(In thousands)
Cash and cash equivalents	$	363,529	8	27.7	%
Collateral on repurchase agreements held by dealers(2)	3,183,615		23	30.2	%
Due from brokers	122,825		22	27.4	%
Receivable for securities sold(3)	29,125		8	40.9	%

(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 Consolidated Balance Sheet.

December 31, 2021:

	Amount of Exposure		Number of Counterparties with Exposure	Maximum Percentage of Exposure to a Single Counterparty(1)
	(In thousands)
Cash and cash equivalents	$	92,661	9	46.9	%
Collateral on repurchase agreements held by dealers(2)	2,822,847		23	33.5	%
Due from brokers	93,549		19	29.1	%
Receivable for securities sold(3)	11,014		3	50.7	%

(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 Consolidated Balance Sheet.