Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 35

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 35
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262.4 million for the six months ended June 30, 2024.  This decrease primarily reflects a decrease in the average balances of, and rates, on our financing agreements on residential whole loans, $5.5 million of lower interest expense related to our 6.25% convertible senior notes which matured and were paid in full in June 2024, and lower financing rates on our securities repurchase agreements, partially offset by higher average balances of, and rates on, our securitized debt, higher average balances of our securities repurchase agreements and $2.5 million of higher interest expense related to our 9.00% and 8.875% senior notes issued in April and January 2024, respectively.

Provision for Credit Losses on Residential Whole Loans Held at Carrying Value

For the six months ended June 30, 2025, we recorded a provision for credit losses on residential whole loans held at carrying value of $0.9 million compared to a reversal of provision for credit losses of $1.5 million for the six months ended June 30, 2024. The provision for the current period primarily reflects minor changes to modeling assumptions, partially offset by the run-off of loans held at carrying value. The reversal of provision for the prior period primarily reflects the run-off of loans held at carrying value and minor changes to modeling assumptions.

Provision for Credit Losses on Other Assets

For the six months ended June 30, 2025, we had no provision for credit losses on Other Assets. For the six months ended June 30, 2024, we recorded a provision for credit losses on Other Assets of $1.1 million, related to an uncollectible receivable from an unrelated third party servicer.

Other Income/(Loss), net

For the six months ended June 30, 2025, Other Income/(Loss), net was $36.8 million, compared to an Other Income/(Loss), net of $52.3 million for the six months ended June 30, 2024.  The components of Other Income/(Loss), net for the six months ended June 30, 2025 and 2024 are summarized in the table below:

Six Months Ended June 30,(In Thousands)20252024Net gain/(loss) on residential whole loans measured at fair value through earnings$87,991 $4,917 Impairment and other net gain/(loss) on securities and other portfolio investments27,