Company: MFAN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001055160-25-000018
Chunk: 12

Company: MFA FINANCIAL, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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, 2025.

(2)Excludes an allowance for credit losses.

Our Transitional loans contain various contractual extension features, typically ranging from three to twenty-four months subject to certain conditions, generally including our consent. Transitional loans are generally only extended if the loan is current and in compliance with various other loan terms. Given the short duration of our Transitional loans, maturity extensions are a regular occurrence, irrespective of market conditions. At September 30, 2025, approximately 57% of our Multifamily transitional loans and 31% of our Single-family transitional loans held as of period end had been extended. 

For additional information regarding our residential whole loan portfolios, including information about delinquency trends, see Note 3 to the consolidated financial statements, included under Item 1 of this Quarterly Report on Form 10-Q.

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Securities, at Fair Value

The following table presents information with respect to our Securities, at fair value at September 30, 2025 and December 31, 2024: 

(Dollars in Thousands)September 30, 2025 December 31, 2024Agency MBSFace/Par$2,152,097 $1,403,891 Fair Value2,176,032 1,392,635 Amortized Cost2,147,114 1,405,900 Weighted average yield (1)5.55 %5.45 %Weighted average time to maturity28.8 years29.1 yearsTerm notes backed by MSR collateralFace/Par$— $55,000 Fair Value— 54,588 Amortized Cost— 50,639 Weighted average yield (1)— %13.95 %Weighted average time to maturityN/A0.8 yearsCRT SecuritiesFace/Par$59,000 $64,602 Fair Value61,180 67,642 Amortized Cost54,358 58,930 Weighted average yield (1)13.01 %9.35 %Weighted average time to maturity8.3 years15.0 yearsNon-Agency MBSFace/Par$26,185 $27,206 Fair Value22,444 22,648 Amortized Cost21,916 22,633 Weighted average yield (1)5.66 %5.67 %Weighted average time to maturity26.0 years26.8 years