Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 49

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 49
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 table below primarily consists of corporate cash and related interest income, investments in loan originators and related economics, general and administrative expenses not directly attributable to Lima One, interest expense on unsecured senior notes (see Note 6), securitization issuance costs, and preferred stock dividends.  The Company’s segments are managed by its “chief operating decision maker” or “CODM” as defined under GAAP; the Company’s CODM is its Chief Executive Officer. The CODM utilizes the segment reporting as part of their analysis of relative segment performance in deciding where to focus resources to enhance the Company’s future performance.

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Table of ContentsMFA FINANCIAL, INC.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024

The following tables summarize segment financial information, which in total reconciles to the same data for the Company as a whole:(In Thousands)Mortgage-Related AssetsLima OneCorporateTotalYear Ended December 31, 2024Interest Income$404,233 $306,191 $13,541 $723,965 Interest Expense285,329 214,697 21,208 521,234 Net Interest Income/(Expense)$118,904 $91,494 $(7,667)$202,731 Reversal/(Provision) for Credit Losses on Residential Whole Loans3,084 — — 3,084 Reversal/(Provision) for Credit Losses on Other Assets(1,135)— — (1,135)Net Interest Income/(Expense) after Reversal/(Provision) for Credit Losses$120,853 $91,494 $(7,667)$204,680 Net gain/(loss) on residential whole loans measured at fair value through earnings$55,428 $(9,434)$— $45,994 Impairment and other net gain/(loss) on securities and other portfolio investments(7,976)94 (2,987)(10,869)Net gain/(loss) on real estate owned4,876 (1,740)— 3,136 Net gain/(loss) on derivatives used for risk management purposes58,238 20,265 — 78,503 Net gain/(loss) on securitized debt measured at fair value through earnings(39,238)(25,575)— (64,813)Lima One mortgage banking income— 32