Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 420

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 420
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 20232.14 2.99 March 31, 20231.74 2.64 

(1)Reflects the difference between the yield on average interest-earning assets and average cost of funds (including net swap income or expense).

(2)Reflects annualized net interest income (including net swap income or expense) divided by average interest-earning assets.

50  

The following table presents the components of the net interest spread earned on our Residential whole loans for the quarterly periods presented:  

Quarter EndedDecember 31, 2024September 30, 2024June 30, 2024March 31, 2024December 31, 2023September 30, 2023June 30, 2023March 31, 2023Business Purpose LoansNet Yield (1)7.73 %7.91 %7.99 %7.66 %7.48 %7.21 %6.88 %6.62 %Cost of Funding (2)5.59 %5.65 %5.80 %5.67 %5.55 %5.34 %5.01 %4.81 %Net Interest Spread2.14 %2.26 %2.19 %1.99 %1.93 %1.87 %1.87 %1.81 %Non-QM LoansNet Yield (1)5.63 %5.47 %5.49 %5.39 %5.06 %5.10 %4.69 %4.64 %Cost of Funding (2)3.76 %3.47 %3.55 %3.44 %3.34 %3.22 %3.07 %3.05 %Net Interest Spread1.87 %2.00 %1.94 %1.95 %1.72 %1.88 %1.62 %1.59 %Legacy RPL/NPL LoansNet Yield (1)7.52 %7.75 %8.72 %7.62 %8.25 %8.23 %8.69 %7.39 %Cost of Funding (2)4.04 %4.08 %3