Company: MFAN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001055160-25-000007
Chunk: 133

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 133
---
 to changes in the current value of the underlying properties and the liquidation timeline.  Increases in discount rates, default rates, loss severities, or liquidation timelines, either in isolation or collectively, would generally result in a lower fair value measurement, whereas increases in the current or expected value of the underlying properties, in isolation, would result in a higher fair value measurement.  In practice, changes in valuation assumptions may not occur in isolation and the changes in any particular assumption may result in changes in other assumptions, which could offset or amplify the impact on the overall valuation. 

47  

Table of ContentsMFA FINANCIAL, INC.NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTSMARCH 31, 2025

The following table presents the carrying values and estimated fair values of the Company’s financial instruments as of March 31, 2025 and December 31, 2024:March 31, 2025March 31, 2025December 31, 2024(In Thousands)Level in Fair Value HierarchyCarrying ValueEstimated Fair ValueCarrying ValueEstimated Fair ValueFinancial Assets:Residential whole loans3$8,731,221 $8,724,917 $8,759,151 $8,743,881 Residential whole loans253,137 53,137 52,073 52,073 Securities, at fair value21,790,285 1,790,285 1,537,513 1,537,513 Cash and cash equivalents1253,713 253,713 338,931 338,931 Restricted cash1219,581 219,581 262,381 262,381 Financial Liabilities (1):Financing agreements with non-mark-to-market collateral provisions3416,957 417,281 576,774 577,231 Financing agreements with mark-to-market collateral provisions31,348,106 1,348,855 1,321,041 1,321,584 Financing agreements with mark-to-market collateral provisions21,544,478 1,544,478 1,279,007 1,279,007 Securitized debt25,873,718 5,810,591 5,794,977 5,724,702 8.875% Senior Notes2111,456 114,018 111,270 115,720 9.00%