Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 270

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 270
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130,854 $110,174 Adjustments to record at lower of cost or fair value(3,565)(2,690)(6,777)(3,957)Transfer from residential whole loans (1)30,286 25,609 55,734 44,951 Purchases and capital improvements, net182 52 317 203 Disposals and other (2)(21,713)(21,143)(44,304)(43,358)Balance at end of period$135,824 $108,013 $135,824 $108,013 Number of properties377 352 377 352 (1)During the three and six months ended June 30, 2025, the Company recognized $(4.4) million and $(4.4) million of gains/(losses), respectively, on Residential whole loans in Other Income/(Loss), net associated with the transfer of loans to REO. During the three and six months ended June 30, 2024, the Company recognized $(1.2) million and $(2.4) million of gains/(losses), respectively, on Residential whole loans in Other Income/(Loss), net associated with the transfer of loans to REO.(2)During the three and six months ended June 30, 2025, the Company sold 107 and 201 REO properties for consideration of $21.8 million and $46.0 million, realizing net gains of approximately $0.6 million and $2.3 million, respectively. During the three and six months ended June 30, 2024, the Company sold 63 and 136 REO properties for consideration of $25.6 million and $49.8 million, realizing net gains of approximately $4.5 million and $6.5 million, respectively. These amounts are included in Other Income/(Loss), net on the Company’s consolidated statements of operations. Commercial REOIn the third quarter of 2024, the Company received 75% and 49% interests, respectively, in two VIEs through foreclosure of a multifamily property and a senior living facility underlying delinquent commercial mortgage loans.  Each of these entities was determined to be a VIE but the Company was not determined to be the primary beneficiary; as a result, the investments in the entities are considered equity method investments.  Each entity accounts for its respective commercial REO property (the “Commercial REO”) similarly to the