Company: MFAN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001055160-25-000007
Chunk: 52

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 2
Chunk 52
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 term to maturity (months)5 2 5 3 318 321 338 343 243 292 Weighted average LTV (2)65 %113 %63 %95 %66 %151 %63 %85 %46 %103 %Loans 90+ days delinquent UPB$63,134 $42,973 $35,643 $32,011 $28,275 $20,919 $109,304 $13,977 $163,887 $51,729 

(1)Weighted average is calculated based on the interest bearing principal balance of each loan within the related category.  For loans acquired with servicing rights released by the seller, interest rates included in the calculation do not reflect loan servicing fees.  For loans acquired with servicing rights retained by the seller, interest rates included in the calculation are net of servicing fees. 

(2)LTV represents the ratio of the total unpaid principal balance of the loan to the estimated value of the collateral securing the related loan as of the most recent date available, which may be the origination date. For Single-family and Multifamily transitional loans, the LTV presented is the ratio of the maximum unpaid principal balance of the loan, including unfunded commitments, to the estimated “after repaired” value of the collateral securing the related loan, where available.  For certain Single-family transitional loans, totaling $468.4 million, an after repaired valuation was not obtained and the loan was underwritten based on an “as is” valuation. The LTV of these loans based on the current unpaid principal balance and the valuation obtained during underwriting, is 75%.  For certain Multifamily transitional loans, totaling $223.0 million, an after repaired valuation was not obtained and the loan was underwritten based on an “as is” valuation. The LTV of these loans based on the current unpaid principal balance and the valuation obtained during underwriting, is 70%.  Excluded from the calculation of weighted average LTV are certain low value loans secured by vacant lots for which the LTV ratio is not meaningful.

The following table presents the five largest geographic concentrations by state of certain of our residential whole loan portfolio and in total at March 31, 2025:

Business purpose loansNon-QM loansLegacy RPL/NPL loansAll LoansRankStatePercent of UPBStatePercent of UPBStatePercent of UPBState