Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 117

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 117
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, were approximately $72.0 million. The 9.00% Senior Notes have an effective interest rate, including the impact of amortization to interest expense of debt issuance costs, of 9.94%.Both the 8.875% Senior Notes and the 9.00% Senior Notes are the Company’s senior unsecured obligations and are (i) effectively junior to all of the Company’s secured indebtedness, which includes the Company’s repurchase agreements and other financing arrangements, to the extent of the value of the collateral securing such indebtedness and (ii) equal in right of payment to each other and to the Company’s existing and future senior unsecured obligations, if any.(b)   CounterpartiesThe Company had financing agreements, including repurchase agreements and other forms of secured financing, with 16 and 15 counterparties at June 30, 2025 and December 31, 2024, respectively.  The following table presents information with respect to each counterparty under financing agreements for which the Company had greater than 5% of stockholders’ equity at risk in the aggregate at June 30, 2025:June 30, 2025CounterpartyAmount at Risk (1)Weighted Average Months to MaturityPercent of Stockholders’ Equity(Dollars in Thousands)Wells Fargo$158,364 2.98.69%Barclays$93,266 0.65.12%(1)The amount at risk reflects the difference between (a) the amount loaned to the Company through financing agreements, including interest payable, and (b) the cash and the fair value of the assets pledged by the Company as collateral, including accrued interest receivable on such assets.(c)   Pledged CollateralThe following tables present the Company’s assets (based on carrying value) pledged as collateral for its various financing arrangements as of June 30, 2025 and December 31, 2024:June 30, 2025Financing Agreements(In Thousands)SecuritizedNon-Mark-to-Market (1)Mark-to-Market (1)TotalAssets:Residential whole loans (2)$7,090,711 $333,557 $1,322,262 $8,746,530 Securities, at fair value— — 1,687,438 1,687,438 Other assets: REO41,895 — 43