Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 257

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 257
---
4,355 $2,587 $11,638 $20,451 Current provision/(reversal)(190)228 (472)(26)(460)Write-offs— 59 (416)(22)(379)Allowance for credit losses at March 31, 2024$1,681 $4,642 $1,699 $11,590 $19,612 Current provision/(reversal)(326)978 (317)(1,414)(1,079)Write-offs— (5,011)(81)(170)(5,262)Allowance for credit losses at June 30, 2024$1,355 $609 $1,301 $10,006 $13,271 (1)Includes $5.2 million and $20.4 million of loans that were assessed for credit losses based on a collateral dependent methodology as of June 30, 2025 and 2024, respectively.(2)Includes $31.8 million and $44.4 million of loans that were assessed for credit losses based on a collateral dependent methodology as of June 30, 2025 and 2024, respectively.Estimates of credit losses under credit losses on financial instruments (“CECL”) are highly sensitive to changes in assumptions and current economic conditions have increased the difficulty of accurately forecasting future conditions.

20  

Table of ContentsMFA FINANCIAL, INC.NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTSJUNE 30, 2025

The carrying value of Residential whole loans on nonaccrual status as of June 30, 2025 and December 31, 2024 was $593.5 million and $638.3 million, respectively. During the three and six months ended June 30, 2025, the Company recognized $4.5 million and $7.3 million, respectively, of interest income on loans on nonaccrual status, including $2.0 million and $3.8 million, respectively, on its portfolio of loans which were non-performing at acquisition. At June 30, 2025 and December 31, 2024, there were approximately $29.0 million and $38.7 million, respectively, of loans held at carrying value on nonaccrual status that did not have an associated allowance for credit losses because they were determined to be collateral dependent