Company: MFAN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001055160-25-000007
Chunk: 28

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 2
Chunk 28
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 share is negative as the calculations are not meaningful.

(4)Reflects total average stockholders’ equity divided by total average assets. 

(5)Represents the sum of our borrowings under financing agreements and payable for unsettled purchases divided by stockholders’ equity.

(6)Represents the sum of our borrowings under financing agreements (excluding securitized debt and other non-recourse debt) and payable for unsettled purchases divided by stockholders’ equity. 

69  

Three Month Period Ended March 31, 2025 Compared to the Three Month Period Ended March 31, 2024 

The following table summarizes the changes in our results of operations for the three months ended March 31, 2025 compared to the three months ended March 31, 2024.  

Three Months Ended(In Thousands, Except Per Share Amounts)March 31, 2025 March 31, 2024YoY ChangeInterest Income:Residential whole loans$151,310 $157,665 $(6,355)Securities, at fair value24,670 12,992 11,678 Other interest-earning assets398 1,163 (765)Cash and cash equivalent investments4,127 5,011 (884)Interest Income$180,505 $176,831 $3,674 Interest Expense:Asset-backed and other collateralized financing arrangements$118,431 $123,442 $(5,011)Other interest expense4,537 5,575 (1,038)Interest Expense$122,968 $129,017 $(6,049)Net Interest Income$57,537 $47,814 $9,723 Reversal/(Provision) for Credit Losses on Residential Whole Loans$(145)$460 $(605)Reversal/(Provision) for Credit Losses on Other Assets— (1,109)1,109 Net Interest Income after Reversal/(Provision) for Credit Losses$57,392 $47,165 $10,227 Other Income/(Loss), net:Net gain/(loss) on residential whole loans measured at fair value through earnings$54,380 $(11,513)$65,893 Impairment and other net gain/(loss) on securities and other portfolio investments21,179 (4,776)25,955 Net gain/(loss) on real estate owned(1