Company: MFAN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001055160-25-000007
Chunk: 106

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 106
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$1,295,653 Fair value of residential whole loans pledged as collateral under financing agreements$1,626,642 $1,608,344 Weighted average haircut on residential whole loans (2)18.27 %19.24 %Mark-to-market financing agreements secured by securities at fair value$1,544,478 $1,279,007 Securities at fair value pledged as collateral under financing agreements$1,631,474 $1,352,918 Weighted average haircut on securities at fair value (2)4.76 %4.99 %Mark-to-market financing agreements secured by real estate owned$21,376 $25,390 Fair value of real estate owned pledged as collateral under financing agreements$63,213 $62,659 Weighted average haircut on real estate owned (2)49.58 %55.71 %(1)Includes an aggregate of $391.9 million and $394.9 million of mark-to-market financing collateralized by Non-Agency MBS with a fair value of $495.9 million and $506.6 million obtained in connection with the Company’s loan securitization transactions that are eliminated in consolidation as of March 31, 2025 and December 31, 2024, respectively. (2)Haircut represents the percentage amount by which the collateral value is contractually required to exceed the loan amount. The following table presents information with respect to the Company’s financing agreements with non-mark-to-market collateral provisions and associated assets pledged as collateral at March 31, 2025 and December 31, 2024:(Dollars in Thousands)March 31,2025December 31,2024Non-mark-to-market financing secured by residential whole loans$416,957 $576,774 Fair value of residential whole loans pledged as collateral under financing agreements$563,491 $740,494 Weighted average haircut on residential whole loans24.74 %21.40 %Non-mark-to-market financing secured by real estate owned$— $— Fair value of real estate owned pledged as collateral under financing agreements$— $— Weighted average haircut on real estate owned— %— %In addition, the Company had aggregate restricted cash held in connection with its financing agreements including securitized debt, of $25.8 million and $32.1 million at March 31,