Company: MFAN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001055160-25-000018
Chunk: 106

Company: MFA FINANCIAL, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 106
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 THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTSSEPTEMBER 30, 2025

5.    Other Assets 

The following table presents the components of the Company’s Other assets at September 30, 2025 and December 31, 2024:(In Thousands)September 30, 2025December 31, 2024REO$138,121 $130,854 Commercial REO18,895 18,373 Goodwill61,076 61,076 Intangibles, net (1)2,900 4,800 Capital contributions made to loan origination partners20,182 16,793 Commercial loans6,947 7,435 Interest receivable106,767 104,395 Other loan related receivables7,776 21,643 Lease right-of-use asset (2)44,646 35,461 Other79,711 58,725 Total Other Assets$487,021 $459,555 (1) Net of aggregate accumulated amortization of $25.1 million and $23.2 million as of September 30, 2025 and December 31, 2024, respectively.  (2) An estimated incremental borrowing rate of 7.5% was used in connection with the Company’s primary operating lease (see Notes 2 and 9).

(a) Real Estate Owned and Commercial REO The following table summarizes the aggregate carrying value of REO properties by loan source prior to foreclosure proceeding or from completion of a deed-in-lieu of foreclosure or similar legal agreement.(Dollars In Thousands)September 30, 2025December 31, 2024Non-QM loans$8,280 $1,278 Business purpose loans84,585 71,090 Legacy RPL/NPL loans45,256 58,486 Total$138,121 $130,854 Number of properties373 416  At September 30, 2025, $138.1 million of residential real estate property was held by the Company that was acquired either through a completed foreclosure proceeding or from completion of a deed-in-lieu of foreclosure or similar legal agreement.  In addition, formal foreclosure proceedings were in process with respect to $45.2 million of residential whole loans held at carrying value and $227.5 million of residential whole loans held at fair value at September 30, 2025. 

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