Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 486

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7A
Chunk 486
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reversal)999 (103)(233)(398)265 Write-offs(1,785)— (206)(301)(2,292)Allowance for credit losses at June 30, 2023$2,840 $1,237 $6,706 $20,252 $31,035 Current provision/(reversal)559 329 (2,627)487 (1,252)Write-offs(881)(235)— (110)(1,226)Allowance for credit losses at September 30, 2023$2,518 $1,331 $4,079 $20,629 $28,557 Current provision/(reversal)230 3,123 (2,208)(8,982)(7,838)Write-offs(161)(99)— (9)(269)Allowance for credit losses at December 31, 2023$2,587 $4,355 $1,871 $11,638 $20,451 (1)In connection with Single-family transitional loans at carrying value, the Company had unfunded commitments of $1.6 million and $2.5 million as of December 31, 2024 and 2023, respectively, with an allowance for credit losses of $0 and $0 at December 31, 2024 and 2023, respectively.  Such allowance is included in “Other liabilities” in the Company’s consolidated balance sheets (see Note 7).(2)Includes $14.7 million and $26.3 million of loans that were assessed for credit losses based on a collateral dependent methodology as of December 31, 2024 and 2023, respectively.(3)Includes $34.2 million and $53.0 million of loans that were assessed for credit losses based on a collateral dependent methodology as of December 31, 2024 and 2023, respectively.  

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

Prior to December 31, 2023, the Company’s estimates of expected losses that form the basis of the Allowance for Credit Losses included certain qualitative adjustments which had the effect of increasing expected loss estimates.  These qualitative adjustments were determined based on a variety of factors, including differences between the Company’s loan