Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 283

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 283
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— — 1,352,918 1,352,918 Other assets: REO26,934 — 56,505 83,439 Total$6,913,710 $740,260 $2,516,502 $10,170,472 (1)An aggregate of $25.9 million and $27.1 million of accrued interest on those assets pledged against non-mark-to-market and mark-to-market financing agreements had also been pledged as of June 30, 2025 and December 31, 2024, respectively.  (2)Includes an aggregate of $467.5 million and $394.9 million of mark-to-market financing collateralized by Non-Agency MBS with a fair value of $616.1 million and $506.6 million obtained in connection with the Company’s loan securitization transactions that are eliminated in consolidation as of June 30, 2025 and December 31, 2024, respectively. 

35  

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

The Company pledges securities or cash as collateral to its counterparties in relation to certain of its financing arrangements. The Company exchanges collateral with its counterparties based on changes in the fair value, notional amount and term of the associated financing arrangements and Swaps, as applicable.  In connection with these margining practices, either the Company or its counterparty may be required to pledge cash or securities as collateral.  When the Company’s pledged collateral exceeds the required margin, the Company may initiate a reverse margin call, at which time the counterparty may either return the excess collateral or provide collateral to the Company in the form of cash or equivalent securities.  The Company’s assets pledged as collateral are also described in Notes 2(e) - Restricted Cash and 5(e) - Derivative Instruments.  Certain of the Company’s financing arrangements and derivative transactions are governed by underlying agreements that generally provide for a right of setoff in the event of default or in the event of a bankruptcy of either party to the transaction. In the Company’s consolidated balance sheets, all balances associated with repurchase agreements are presented on a gross basis.

7.     Other Liabilities 

The following table presents the components of the Company’s Other liabilities at June 30, 2025 and December 31, 2024