Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 116

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 5
Chunk 116
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,625 $5,516,005 Fair Value at December 31, 2023(In Thousands)Level 1Level 2Level 3TotalAssets:Residential whole loans, at fair value$— $55,779 $7,455,729 $7,511,508 Securities, at fair value— 746,090 — 746,090 Total assets carried at fair value$— $801,869 $7,455,729 $8,257,598 Liabilities:Agreements with non-mark-to-market collateral provisions$— $— $469,424 $469,424 Agreements with mark-to-market collateral provisions— — 178,864 178,864 Securitized debt— 3,985,372 — 3,985,372 Total liabilities carried at fair value$— $3,985,372 $648,288 $4,633,660 

115  

Table of ContentsMFA FINANCIAL, INC.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024

Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring BasisThe following table presents additional information for the years ended December 31, 2024 and 2023 about the Company’s Residential whole loans, at fair value, which are classified as Level 3 and measured at fair value on a recurring basis:Residential Whole Loans, at Fair ValueFor the Year Ended December 31,(In Thousands)20242023Balance at beginning of period$7,455,729 $5,676,430 Purchases and originations2,077,564 2,411,724 Draws556,943 574,839 Changes in fair value recorded in Net gain/(loss) on residential whole loans measured at fair value through earnings96,353 114,478 Repayments(1,962,039)(1,162,471)Loan sales and repurchases(683,407)(108,657)Transfer to REO(82,006)(50,614)Balance at end of period$7,459,137 $7,455,729 The following table presents additional information for the years ended December 31, 2024 and 2023 about the Company’s financing agreements with non-mark-to-market collateral provisions, which are classified