Company: MFAN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001055160-25-000018
Chunk: 168

Company: MFA FINANCIAL, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 168
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 Qualitative Disclosures About Market Risk” of this Quarterly Report on Form 10-Q.

Information About Our Assets

The table below presents certain information about our asset allocation at September 30, 2025:

ASSET ALLOCATION

(Dollars in Millions)Non-QM loansSingle-family rental loansSingle-family transitional loansMultifamily transitional loansLegacy RPL/NPL loansSecurities, at fair valueOther, net (1)TotalAsset Amount$5,121$1,246$791$604$1,000$2,260$759$11,781Receivable/(Payable) for Unsettled Transactions—————(117)—(117)Financing Agreements with Non-mark-to-market Collateral Provisions—(11)(77)(78)———(166)Financing Agreements with Mark-to-market Collateral Provisions(576)(239)(178)(115)(78)(1,878)(64)(3,128)Securitized Debt(3,975)(825)(421)(288)(838)—(7)(6,354)Senior Notes and Other secured financing——————(194)(194)Net Equity Allocated$570$171$115$123$84$265$494$1,822Debt/Net Equity Ratio (2)8.0x6.3x5.9x3.9x10.9x7.5x5.5x

(1)Includes $305.2 million of cash and cash equivalents, $231.8 million of restricted cash, $51.9 million of Other loans and $20.2 million of capital contributions made to loan origination partners, as well as other assets and other liabilities.    

(2)Total Debt/Net Equity ratio represents the sum of borrowings under our financing agreements as a multiple of net equity allocated. 

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Residential Whole Loans

The following table presents the contractual maturities of our residential whole loan portfolios at September 30, 2025.  Amounts presented do not reflect estimates of prepayments or scheduled amortization. 

(In Thousands)Non-QMloans (2)Business purpose loans (1)Legacy RPL/NPL loans (3)Other loansAmount due: Within one year$— $1,240,751 $2,138 $— After one year:Over one to five years— 168,996 9,312 — Over five years