Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 82

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 5
Chunk 82
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 %(1)Each maturity category reflects contractual amortization and/or maturity of notional amounts.  (2)Reflects the benchmark variable rate due from the counterparty at the date presented. This rate adjusts daily based on SOFR. 

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

Impact of Derivative Instruments on EarningsThe following table present the components of Net gain/(loss) on derivatives used for risk management purposes for the years ended December 31, 2024, 2023 and 2022, which is presented in Other Income/(Loss), net in the consolidated statements of operations:  For the Year Ended December 31, (In Thousands)202420232022Income on swap variable receive leg$177,062 $158,554 $52,395 Expense on swap fixed pay leg(64,290)(51,400)(42,353)Unrealized mark-to-market gain/(loss)2,478 (91,696)208,712 Net price alignment expense on margin collateral received(9,217)(11,697)(2,762)Realized gain/(loss) on terminated swaps(27,530)— — Net gain on TBA short positions— — 39,187 Total Net gain/(loss) on derivatives used for risk management purposes$78,503 $3,761 $255,179 

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

6.      Financing Agreements 

 The following tables present the components of, and certain information with respect to, the Company’s Financing agreements at December 31, 2024 and 2023:December 31, 2024(Dollars In Thousands)CollateralUnpaid Principal BalanceFair Value/Carrying Value (1)Weighted Average Cost of Funding (2)Weighted Average Term to Maturity (Months)Agreements with mark-to-market collateral provisionsResidential whole loans and REO$1,321,584 $1,321,043 7.27 %7.9Agreements with mark-to-market collateral provisionsSecurities1,279,007 1,279,007 5.47 %0.2Total Agreements with mark-to-market collateral provisions2,600