Company: MFAN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001055160-25-000018
Chunk: 46

Company: MFA FINANCIAL, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 46
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, our cash position and margin requirements.  Our cash position fluctuates based on the timing of our operating, investing and financing activities and is managed based on our anticipated cash needs.  (See our Consolidated Statements of Cash Flows, included under Item 1 of this Quarterly Report on Form 10-Q and “Interest Rate Risk” included under Item 3 of this Quarterly Report on Form 10-Q.) 

The table below presents certain information about our borrowings under asset-backed financing agreements and securitized debt:

 Asset-backed Financing AgreementsSecuritized DebtQuarter Ended (1)Quarterly Average BalanceEnd of Period BalanceMaximum Balance at Any Month-EndQuarterly Average BalanceEnd of Period BalanceMaximum Balance at Any Month-End(In Thousands)      September 30, 2025$3,463,727 $3,294,404 $3,536,947 $6,015,557 $6,353,973 $6,353,973 June 30, 20253,429,344 3,417,505 3,573,607 5,864,368 5,904,033 5,964,106 March 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 and Other secured financing (Note 6).

Cash Flows and Liquidity for the Nine Months Ended September 30, 2025 

Our cash, cash equivalents and restricted cash decreased