Company: MFAN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001055160-25-000018
Chunk: 183

Company: MFA FINANCIAL, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 183
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 on securitization and other fees related to our residential whole loan activities. These expenses increased compared to the prior quarter period by approximately $1.6 million, or 19.0%, primarily due to higher expenses recognized on upfront costs associated with two securitizations entered into in this quarter, compared to one in the prior quarter.

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Selected Financial Ratios

The following table presents information regarding certain of our financial ratios at or for the dates presented:

At or for the Quarter EndedReturn on Average Total Assets (1)Return on Average Total Stockholders’ Equity (2)Dividend Payout Ratio (3)Total AverageStockholders’ Equity toTotal Average Assets (4)Leverage Multiple (5)Recourse Leverage Multiple (6)September 30, 20251.62 %10.50 %1.0015.46 %5.51.9June 30, 20251.14 7.21 1.6415.86 5.21.8March 31, 20251.45 8.91 1.1316.31 5.11.8December 31, 20240.21 1.26 —16.41 5.01.7September 30, 20241.74 10.17 0.9217.10 4.81.8June 30, 20241.52 8.85 1.0917.14 4.71.7March 31, 20240.85 4.69 2.5018.23 4.61.8

(1)Reflects annualized net income divided by average total assets.

(2)Reflects annualized net income divided by average total stockholders’ equity. 

(3)Reflects dividends declared per share of common stock divided by earnings per share.  The ratio has not been calculated for periods where earnings per 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.