Counterparty Risk (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2022 and December 31, 2021:

Property Location by U.S. State	June 30, 2022		December 31, 2021
California	36.7	%	40.2	%
Florida	16.3	%	14.9	%
Texas	10.4	%	11.9	%
Utah	3.4	%	2.9	%
Arizona	3.0	%	2.1	%
Colorado	2.1	%	2.0	%
Nevada	2.1	%	1.9	%
North Carolina	2.1	%	1.8	%
Georgia	2.0	%	1.5	%
Illinois	1.9	%	2.0	%
Massachusetts	1.9	%	2.2	%
Tennessee	1.9	%	1.6	%
Washington	1.7	%	1.5	%
New Jersey	1.5	%	1.1	%
New York	1.5	%	1.7	%
Oregon	1.5	%	1.8	%
Connecticut	1.2	%	1.2	%
Pennsylvania	1.2	%	—	%
Other	7.6	%	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 June 30, 2022 and December 31, 2021:

Property Location by U.S. State	June 30, 2022		December 31, 2021
Florida	23.8	%	32.3	%
Texas	11.4	%	—	%
Arizona	9.1	%	9.3	%
New York	8.8	%	13.5	%
Georgia	7.7	%	—	%
New Jersey	5.2	%	5.1	%
Michigan	4.7	%	4.9	%
Massachusetts	4.6	%	—	%
North Carolina	4.1	%	5.9	%
Illinois	4.0	%	—	%
Ohio	3.9	%	7.3	%
Oklahoma	3.5	%	—	%
Tennessee	2.3	%	7.7	%
Connecticut	1.9	%	3.5	%
New Hampshire	1.9	%	3.5	%
Pennsylvania	1.3	%	—	%
Rhode Island	1.1	%	—	%
Washington	0.7	%	—	%
Missouri	—	%	7.0	%
	100.0	%	100.0	%

The following table summarizes the Company's exposure to counterparty risk as of June 30, 2022 and December 31, 2021.

June 30, 2022:

	Amount of Exposure		Number of Counterparties with Exposure	Maximum Percentage of Exposure to a Single Counterparty(1)
	(In thousands)
Cash and cash equivalents	$	224,451	8	73.2	%
Collateral on repurchase agreements held by dealers(2)	3,430,694		24	23.5	%
Due from brokers	93,939		21	43.0	%
Receivable for securities sold(3)	36,696		5	34.8	%

(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.