Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 189

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 189
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 in the current value of the underlying properties and the liquidation timeline.  Increases in discount rates, default rates, loss severities, or liquidation timelines, either in isolation or collectively, would generally result in a lower fair value measurement, whereas increases in the current or expected value of the underlying properties, in isolation, would result in a higher fair value measurement.  In practice, changes in valuation assumptions may not occur in isolation and the changes in any particular assumption may result in changes in other assumptions, which could offset or amplify the impact on the overall valuation. 

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Table of ContentsMFA FINANCIAL, INC.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024

The following table presents the carrying values and estimated fair values of the Company’s financial instruments at December 31, 2024 and 2023:(In Thousands)December 31, 2024December 31, 2024December 31, 2023Level in Fair Value HierarchyCarrying ValueEstimated Fair ValueCarrying ValueEstimated Fair ValueFinancial Assets:Residential whole loans3$8,759,151 $8,743,881 $8,985,513 $8,949,859 Residential whole loans 252,073 52,073 55,779 55,779 Securities, at fair value21,537,513 1,537,513 746,090 746,090 Cash and cash equivalents1338,931 338,931 318,000 318,000 Restricted cash1262,381 262,381 170,211 170,211 Financial Liabilities (1):Financing agreements with non-mark-to-market collateral provisions3576,774 577,231 1,216,697 1,217,671 Financing agreements with mark-to-market collateral provisions31,321,041 1,321,584 1,737,652 1,738,543 Financing agreements with mark-to-market collateral provisions21,279,007 1,279,007 622,603 622,603 Securitized debt25,794,977 5,724,702 4,750,805 4,655,195 Convertible senior notes2— — 208,989 209,065 8.875% Senior Notes2111,270 115,720 — — 9.00% Senior Notes272