Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 47

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 47
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 31, 20253,217,776 3,309,541 3,309,541 5,774,172 5,873,718 5,873,718 December 31, 20243,321,754 3,176,824 3,455,758 5,586,928 5,794,977 5,794,977 September 30, 20243,441,493 3,450,136 3,450,136 5,257,841 5,288,997 5,288,997 June 30, 20243,556,701 3,660,342 3,660,342 5,029,703 5,047,613 5,078,946 March 31, 20243,645,218 3,611,212 3,686,018 4,792,515 4,794,400 4,812,304 

(1)The information presented in the table above excludes Senior notes (Note 6).

Cash Flows and Liquidity for the Six Months Ended June 30, 2025 

Our cash, cash equivalents and restricted cash decreased by $56.4 million during the six months ended June 30, 2025, reflecting:  $282.1 million used in our investing activities, $201.8 million provided by our financing activities and $23.9 million provided by our operating activities.

At June 30, 2025, our debt-to-equity multiple was 5.2 times compared to 5.0 times at December 31, 2024.  Our recourse leverage multiple at June 30, 2025 was 1.8 times compared to 1.7 times at December 31, 2024. At June 30, 2025, we had borrowings under asset-backed financing agreements of $3.4 billion, of which $1.8 billion were secured by residential whole loans, $1.6 billion were secured by securities and $17.3 million were secured by REO.  In addition, at June 30, 2025, we had securitized debt of $5.9 billion in connection with our loan securitization transactions. At December 31, 2024, we had borrowings under asset-backed financing agreements of $3.2 billion, of which $1.9 billion were