Company: MFAN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001055160-25-000007
Chunk: 152

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 152
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 regarding the calculation of Economic book value per share, including a reconciliation to GAAP book value per share, refer to “Reconciliation of GAAP and Non-GAAP Financial Measures” below. 

For more information regarding market factors which impact our portfolio, see Part I, Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024 and Item 3. “Quantitative and Qualitative Disclosures About Market Risk” of this Quarterly Report on Form 10-Q.

Information About Our Assets

The table below presents certain information about our asset allocation at March 31, 2025:

ASSET ALLOCATION

(Dollars in Millions)Business purpose loansNon-QM loansLegacy RPL/NPL loansSecurities, at fair valueOther, net (1)TotalAsset Amount$3,137 $4,539 $1,055 $1,790 $716 $11,237 Receivable/(Payable) for Unsettled Transactions— — — (31)— (31)Financing Agreements with Non-mark-to-market Collateral Provisions(417)— — — — (417)Financing Agreements with Mark-to-market Collateral Provisions(583)(650)(50)(1,544)(66)(2,893)Securitized Debt(1,613)(3,358)(900)— (3)(5,874)Senior Notes— — — — (184)(184)Net Equity Allocated$524 $531 $105 $215 $463 $1,838 Debt/Net Equity Ratio (2)5.0 x7.5 x9.0 x7.3 x5.1 x

(1)Includes $253.7 million of cash and cash equivalents, $219.6 million of restricted cash, $53.1 million of Other loans and $17.5 million of capital contributions made to loan origination partners, as well as other assets and other liabilities.    

(2)Total Debt/Net Equity ratio represents the sum of borrowings under our financing agreements as a multiple of net equity allocated. 

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Residential Whole Loans

The following table presents the contractual maturities of our residential whole loan portfolios at March 31, 2025.  Amounts presented do not reflect estimates of pre