Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 410

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 410
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 amount of certain of our residential whole loans, contractually maturing after one year, and indicates whether the loans have fixed interest rates or adjustable interest rates:

(In Thousands)Business purpose loans (1)(2)Non-QM loans (1)(2)Legacy RPL/NPL loans (1)(2)Other loansInterest rates: Fixed$1,312,219 $3,503,781 $885,572 $52,073 Adjustable347,851 787,305 195,417 — Total$1,660,069 $4,291,086 $1,080,989 $52,073 

(1)Includes loans on which borrowers have defaulted and are not making payments of principal and/or interest as of December 31, 2024.

(2)Excludes an allowance for credit losses.

Our Transitional loans contain various contractual extension features, typically ranging from three to twelve months subject to certain conditions, generally including our consent. Transitional loans are generally only extended if the loan is current and in compliance with various other loan terms. Given the short duration of our Transitional loans, maturity extensions are a regular occurrence, irrespective of market conditions. At December 31, 2024, approximately 18% of our Multifamily transitional loans and 26% of our Single-family transitional loans held as of period end had been extended. 

For additional information regarding our residential whole loan portfolios, including information about delinquency trends, see Note 3 to the consolidated financial statements, included under Item 8 of this Annual Report on Form 10-K.

44  

Securities, at Fair Value

The following table presents information with respect to our Securities, at fair value at December 31, 2024 and December 31, 2023: 

(Dollars in Thousands)December 31, 2024 December 31, 2023Agency MBS   Face/Par$1,403,891  $554,300 Fair Value1,392,635  559,144 Amortized Cost1,405,900  555,624 Weighted average yield (1)5.45 %5.59 %Weighted average time to maturity29.1 years29.3 yearsTerm notes backed by MSR collateralFace/Par$55,000 $85,000 Fair Value54,588 79,895 Amortized Cost50,639 74,