12-month interest rate indices. The potential liquidity inherent in the Company's unencumbered residential mortgage investments is as important as the actual level of cash and cash equivalents carried on the balance sheet because secured borrowings generally can be increased or decreased on a daily basis to meet cash flow. Preferred Equity Capital Issuances, during the year ended December 31, 2016, Capstead issued 78,000 shares of its.50 Series E Cumulative Redeemable Preferred Stock through an at-the-market continuous offering program at an average price.23, net of underwriting fees and other costs, for net. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release. This change in book value, combined with.95 per share in common dividends declared, produced an economic return to Capstead common stockholders.33 in 2016. When the fair value of pledged securities declines due to changes in market conditions or the publishing of monthly security pay-down factors, lenders typically require the Company to post additional securities as collateral, pay down borrowings or fund cash margin accounts with the counterparties. After consideration of any applicable initial fixed-rate periods, at December 31, 2016 approximately 89, 7 and 4 of the Company's ARM securities were backed by mortgage loans that reset annually, semi-annually and monthly, respectively. The Company intends to continue to manage interest rate risk associated with holding and financing its residential mortgage investments by utilizing suitable derivative financial instruments such as interest rate swap agreements as well as longer-maturity secured borrowings, if available at attractive rates and terms. Capstead mortgage corporation consolidated balance sheets (in thousands, except ratios, pledged and per share amounts) September 30, 2017 December 31, 2016 (unaudited) Assets Residential mortgage investments (13.13 and.81 billion pledged at September 30, 2017 and December 31, 2016, respectively) 13,605,583 13,316,282 Cash collateral receivable. At September 30, 2017, Cash collateral receivable from interest rate swap counterparties includes initial margin for all swap agreements and variation margin for non-exchange traded swap agreements.
Capstead, mortgage Corporation Announces First 6.67 Yielder Worthy Of A Buy Capstead Mortgage Corporation Announces Third Quarter 10-K: capstead, mortgage corp - MarketWatch Capstead, mortgage Corporation (CMO) Dates(edgar Online via comtex) - item. In order to efficiently manage its liquidity and capital resources, Capstead attempts to maintain sufficient liquidity reserves to fund borrowing and interest rate swap margin calls under stressed market conditions, including margin calls resulting from monthly principal payments (remitted to the Company 20. The Company has also entered into 100 million notional amount of swap agreements with terms coinciding with the 20-year variable-rate terms of the Companys unsecured borrowings. Capstead's residential mortgage investments and related secured borrowings were managed lower during 2016 by not completely replacing portfolio runoff to end the year.32 billion and.15 billion, respectively, compared.15 billion and.96 billion at the end of 2015. Fourth Quarter Earnings and Related Discussion. Because average mortgage prepayment levels were higher this quarter.76 CPR (an increase.7, compared to a decline in the first quarter.4 we recorded an additional.3 million in investment premium amortization.