Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 185

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 185
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511,838 8,597 3.36 530,197 11,319 4.27 Other interest-earning assets7,435 926 24.91 49,042 2,340 9.54 Total interest-earning assets11,192,924 368,849 6.59 10,871,204 363,662 6.69 Liabilities:Interest-bearing liabilities:Securitized debt (3)$5,857,726 $147,760 5.04 %$4,993,106 $117,322 4.70 %Collateralized financing agreements (4)3,324,144 93,194 5.58 3,600,960 132,875 7.30 Convertible Senior Notes— — — 162,861 5,539 6.80 8.875% Senior Notes111,428 5,479 9.83 104,732 5,142 9.82 9.00% Senior Notes72,486 3,603 9.94 29,740 1,481 9.96 Total interest-bearing liabilities9,365,784 250,036 5.33 8,891,399 262,359 5.87 Net interest income/net interest rate spread (5)118,813 1.26 101,303 0.82 Impact of net Swap carry (6)30,773 0.65 58,024 1.29 Net interest rate spread (including the impact of net Swap carry)$149,586 1.91 %$159,327 2.11 %Net interest-earning assets/net interest margin (7)$1,827,140 2.68 %$1,979,805 2.95 %

(1)Yields presented throughout this Quarterly Report on Form 10-Q are calculated using average amortized cost data for residential whole loans and securities, which excludes unrealized gains and losses.  For GAAP reporting purposes, securities purchases and sales are reported on the trade date.  Average amortized cost data used to determine yields is calculated based on the settlement date of the associated purchase or sale as interest income is not earned on purchased assets and continues to be earned on sold assets until settlement date.  

(2)Includes average interest-earning cash, cash equivalents and restricted