Company: MFAN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001055160-25-000018
Chunk: 277

Company: MFA FINANCIAL, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 277
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 $227.5 million of residential whole loans held at fair value at September 30, 2025. 

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

The following table presents the activity in the Company’s REO for the three and nine months ended September 30, 2025 and 2024: Three Months EndedSeptember 30,Nine Months EndedSeptember 30,(Dollars In Thousands)2025202420252024Balance at beginning of period$135,824 $108,013 $130,854 $110,174 Adjustments to record at lower of cost or fair value(2,281)(2,180)(9,059)(6,137)Transfer from residential whole loans (1)29,325 37,132 85,059 82,083 Purchases and capital improvements, net56 78 373 281 Disposals and other (2)(24,803)(15,946)(69,106)(59,304)Balance at end of period$138,121 $127,097 $138,121 $127,097 Number of properties373 411 373 411 (1)During the three and nine months ended September 30, 2025, the Company recognized $1.0 million and $(3.4) million of gains/(losses), respectively, on Residential whole loans in Other Income/(Loss), net associated with the transfer of loans to REO. During the three and nine months ended September 30, 2024, the Company recognized $(3.4) million and $(5.8) million of gains/(losses), respectively, on Residential whole loans in Other Income/(Loss), net associated with the transfer of loans to REO.(2)During the three and nine months ended September 30, 2025, the Company sold 84 and 285 REO properties for consideration of $27.3 million and $73.3 million, realizing net gains of approximately $2.5 million and $4.8 million, respectively. During the three and nine months ended September 30, 2024, the Company sold 58 and 194 REO properties for consideration of $18.3 million and $68.2 million, realizing net gains of approximately $2.4 million and $8.9 million