Counterparty Risk (Tables)

6 Months Ended

Jun. 30, 2023

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, 2023 and December 31, 2022:

Property Location by U.S. State	June 30, 2023		December 31, 2022
California	31.7	%	33.2	%
Florida	18.8	%	17.2	%
Texas	9.9	%	10.3	%
Utah	3.3	%	3.4	%
Arizona	3.0	%	3.1	%
North Carolina	2.8	%	2.8	%
Pennsylvania	2.8	%	2.3	%
Georgia	2.7	%	2.6	%
New Jersey	2.0	%	1.8	%
Tennessee	1.9	%	2.1	%
Illinois	1.8	%	1.6	%
Massachusetts	1.7	%	1.9	%
Colorado	1.6	%	1.7	%
Nevada	1.6	%	1.8	%
Washington	1.6	%	1.7	%
New York	1.4	%	1.4	%
Oregon	1.3	%	1.3	%
Ohio	1.2	%	1.1	%
Maryland	0.9	%	1.0	%
Other	8.0	%	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, 2023 and December 31, 2022:

Property Location by U.S. State	June 30, 2023		December 31, 2022
Florida	21.8	%	20.5	%
Texas	15.5	%	13.4	%
New York	11.8	%	9.4	%
Arizona	8.1	%	9.0	%
Massachusetts	7.0	%	5.5	%
New Jersey	6.0	%	6.2	%
Illinois	5.5	%	4.6	%
Oklahoma	4.9	%	4.2	%
Ohio	4.5	%	3.8	%
Georgia	4.3	%	5.4	%
Michigan	3.6	%	5.5	%
Connecticut	2.6	%	2.2	%
North Carolina	2.2	%	3.7	%
Louisiana	1.8	%	1.5	%
New Hampshire	—	%	2.2	%
Pennsylvania	—	%	1.5	%
Rhode Island	—	%	1.0	%
Other	0.4	%	0.4	%
	100.0	%	100.0	%

The table below summarizes the geographic distribution of the real estate collateral underlying the Company's reverse mortgage loans as a percentage of total outstanding unpaid principal balance, as of June 30, 2023 and December 31, 2022.

Property Location by U.S. State	June 30, 2023		December 31, 2022
California	28.2	%	31.5	%
Florida	9.1	%	9.1	%
Colorado	6.9	%	6.4	%
Arizona	6.1	%	5.7	%
Washington	5.2	%	4.9	%
Utah	4.9	%	4.5	%
Texas	4.5	%	4.0	%
Oregon	3.0	%	2.8	%
Idaho	2.6	%	2.3	%
Massachusetts	2.5	%	2.4	%
New York	2.3	%	2.2	%
Nevada	2.2	%	2.1	%
North Carolina	2.0	%	1.9	%
Virginia	1.7	%	1.7	%
Ohio	1.5	%	1.5	%
Georgia	1.5	%	1.3	%
Maryland	1.4	%	1.4	%
New Jersey	1.4	%	1.4	%
South Carolina	1.4	%	1.4	%
Pennsylvania	1.2	%	1.2	%
Tennessee	1.2	%	1.1	%
Other	9.2	%	9.2	%
	100.0	%	100.0	%

The following table summarizes the Company's exposure to counterparty risk as of June 30, 2023 and December 31, 2022.

June 30, 2023:

	Amount of Exposure		Number of Counterparties with Exposure	Maximum Percentage of Exposure to a Single Counterparty(1)
	(In thousands)
Cash and cash equivalents	$	194,595	13	44.9	%
Collateral on repurchase agreements held by dealers(2)	3,221,191		26	23.1	%
Due from brokers	33,118		25	14.8	%
Receivable for securities sold(3)	30,334		5	87.1	%

(1)Each counterparty is a financial institution that the Company believes to be creditworthy as of June 30, 2023.

(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, 2022:

	Amount of Exposure		Number of Counterparties with Exposure	Maximum Percentage of Exposure to a Single Counterparty
	(In thousands)
Cash and cash equivalents	$	217,053	13	41.3	%
Collateral on repurchase agreements held by dealers(1)	3,247,276		26	21.6	%
Due from brokers	36,761		20	22.8	%
Receivable for securities sold(2)	21,439		6	36.4	%

(1)Includes securities, loans, and REO as well as cash posted as collateral for repurchase agreements.

(2)Included in Investment related receivables on the Condensed Consolidated Balance Sheet.