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Actual maturities of mortgage-backed securities are generally shorter than stated contractual maturities. Maturities are affected by the contractual lives of the underlying mortgages, periodic payments of principal and prepayments of principal. We have chosen to make a fair value election pursuant to ASC 825 for our real estate securities portfolio. Unrealized gains and losses are recognized in current period earnings in the unrealized gain (loss) on real estate securities line item. The gross unrealized stated above represent inception to date unrealized gains (losses). *Linked Transactions are comprised of unobservable inputs from Non-Agency RMBS, ABS and CMBS investments. Transfers are assumed to occur at the beginning of the period. Gains/(losses) are recorded in the following line items in the consolidated statement of operations. 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padding: 0in;" valign="bottom"> <p class="msonormal">Fair Value of Non-Agency RMBS, ABS and CMBS pledged as collateral under repurchase agreements</p> </td> <td style="background: white; padding: 0in;" valign="bottom"> <p class="msonormal">&#160;</p> </td> <td style="background: white; padding: 0in;" valign="bottom"> <p class="msonormal">&#160;</p> </td> <td style="background: white; padding: 0in;" valign="bottom"> <p align="right" style="text-align: right;" class="msonormal">148,059,931</p> </td> <td style="background: white; padding: 0in;" valign="bottom"> <p class="msonormal">&#160;</p> </td> </tr> <tr style="mso-yfti-irow: 5; mso-yfti-lastrow: yes;"> <td style="background: #ccffcc; padding: 0in;" valign="bottom"> <p class="msonormal">Cash pledged (i.e., restricted cash) under repurchase agreements</p> </td> <td style="background: #ccffcc; padding: 0in;" valign="bottom"> <p class="msonormal">&#160;</p> </td> <td style="background: #ccffcc; padding: 0in;" valign="bottom"> <p class="msonormal">&#160;</p> </td> <td style="background: #ccffcc; padding: 0in;" valign="bottom"> <p align="right" style="text-align: right;" class="msonormal">1,323,178</p> </td> <td style="background: #ccffcc; padding: 0in;" valign="bottom"> <p class="msonormal">&#160;</p> </td> </tr> </table> </div> </div> 1203025000 288078547 242943875 0 45134672 00015142812012-08-08 15807258 15 9300000 1700000 214900000 900000 10547 1717266 993422 993422