Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 110

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 110
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2025, the aggregate notional amounts of Swaps include $3.2 billion of interest rate swap agreements and $0.3 billion of ERIS swap futures.  As of December 31, 2024, all aggregate notional amounts of Swaps were from interest rate swap agreements.(3)Reflects the benchmark variable rate due from the counterparty at the date presented.  This rate adjusts daily based on SOFR. Impact of Derivative Instruments on EarningsThe following table present the components of Net gain/(loss) on derivatives used for risk management purposes, which is presented in Other Income/(Loss), net in the consolidated statements of operations:  Three Months Ended June 30,Six Months Ended June 30, (In Thousands)2025202420252024Income on Swaps variable receive leg$36,850 $44,132 $70,927 $88,309 Expense on Swaps fixed pay leg(21,367)(15,199)(40,191)(30,284)Unrealized mark-to-market gain/(loss)(15,391)(10,237)(60,233)12,945 Net price alignment expense on margin collateral received(1,169)(2,609)(2,635)(4,942)Realized gain/(loss) on terminated Swaps(17,174)— (17,174)— Total Net gain/(loss) on derivatives used for risk management purposes$(18,251)$16,087 $(49,306)$66,028 

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Table of ContentsMFA FINANCIAL, INC.NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTSJUNE 30, 2025

6.      Financing Agreements 

 The following tables present the components of, and certain information with respect to, the Company’s Financing agreements at June 30, 2025 and December 31, 2024:June 30, 2025(Dollars In Thousands)CollateralUnpaid Principal BalanceFair Value/Carrying Value (1)Weighted Average Cost of Funding (2)Weighted Average Term to Maturity (Months)Agreements with mark-to-market collateral provisionsResidential whole loans and REO$1,558,800 $1,558,199 6.16 %5.6Agreements with mark-to-market collateral provisionsSecurities1,602,493 1,602,493 4.55 %0.