Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 143

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 143
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,002 576,774 577,231 Financing agreements with mark-to-market collateral provisions31,558,199 1,558,800 1,321,041 1,321,584 Financing agreements with mark-to-market collateral provisions21,602,493 1,602,493 1,279,007 1,279,007 Securitized debt25,904,033 5,846,945 5,794,977 5,724,702 8.875% Senior Notes2111,646 113,006 111,270 115,720 9.00% Senior Notes272,618 74,648 72,390 75,218 (1)Carrying value of securitized debt, Convertible Senior Notes, 8.875% Senior Notes, 9.00% Senior Notes, and certain repurchase agreements is net of associated debt issuance costs.  Other Assets Measured at Fair Value on a Nonrecurring BasisThe Company holds REO and Commercial REO (see Note 5) at the lower of the current carrying amount or fair value less estimated selling costs.  The Company classifies fair value measurements of REO as Level 3 in the fair value hierarchy.REO - During the six months ended June 30, 2025 and 2024, the Company recorded REO with an aggregate estimated fair value, less estimated cost to sell, of $55.7 million and $45.0 million, respectively, at the time of foreclosure. During the six months ended June 30, 2025, the Company reclassified three REO properties originally classified as held for investment to held for sale status and marked them down to their estimated fair value, less estimated cost to sell, of $10.4 million.

Commercial REO - During the six months ended June 30, 2025 and 2024, the Company did not record any new Commercial REO. During the six months ended June 30, 2024, the Company recorded valuation adjustments on Commercial REO totaling $(0.7) million. During the six months ended June 30, 2025, the Company did not record any valuation adjustments on Commercial REO.  

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Table of ContentsMFA FINANCIAL, INC.NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTSJUNE 30, 2025

14.    Use of Special Purpose Entities and