Company: MFAN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001055160-25-000007
Chunk: 173

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 173
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 3.33 460,323 5,011 4.35 Other interest-earning assets7,435 398 21.41 52,439 1,163 8.87 Total interest-earning assets11,074,860 180,505 6.52 10,743,419 176,831 6.58 Liabilities:Interest-bearing liabilities:Securitized debt (3)$5,808,655 $72,985 5.03 %$4,874,807 $55,959 4.59 %Collateralized financing agreements (4)3,217,776 45,446 5.65 3,645,218 67,483 7.32 Convertible Senior Notes— — — 182,206 3,158 6.94 8.875% Senior Notes111,333 2,737 9.83 98,643 2,417 9.80 9.00% Senior Notes72,429 1,800 9.94 — — — Total interest-bearing liabilities9,210,193 122,968 5.34 8,800,874 129,017 5.83 Net interest income/net interest rate spread (5)57,537 1.18 47,814 0.75 Impact of net Swap carry (6)15,254 0.66 29,091 1.31 Net interest rate spread (including the impact of Swaps)$72,791 1.84 %$76,905 2.06 %Net interest-earning assets/net interest margin (7)$1,864,667 2.63 %$1,942,545 2.88 %

(1)Yields presented throughout this Quarterly Report on Form 10-Q are calculated using average amortized cost data for residential whole loans and securities, which excludes unrealized gains and losses.  For GAAP reporting purposes, securities purchases and sales are reported on the trade date.  Average amortized cost data used to determine yields is calculated based on the settlement date of the associated purchase or sale as interest income is not earned on purchased assets and continues to be earned on sold assets until settlement date.  

(2)Includes average interest-earning cash, cash equivalents and restricted cash.  

(3)Includes both securitized debt, at