Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 480

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7A
Chunk 480
---
2024.(t)  New Accounting Standards and Interpretations 

As of December 31, 2024, there were no new accounting standards or interpretations adopted by the Company that had a material effect on its consolidated financial statements in 2024.  

82  

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

3.      Residential Whole Loans 

Included on the Company’s consolidated balance sheets at December 31, 2024 and 2023 are approximately $8.8 billion and $9.0 billion, respectively, of residential whole loans generally arising from the Company’s interests in certain trusts established to acquire the loans and certain entities established in connection with its loan securitization transactions.  The Company has assessed that these entities are required to be consolidated for financial reporting purposes.  Starting in the second quarter of 2021, the Company elected the fair value option for all loan acquisitions, including loans originated by Lima One subsequent to its acquisition by the Company.  Prior to the second quarter of 2021, the fair value option was typically elected only for loans that were 60 days or more days delinquent at purchase.  The following table presents the components of the Company’s Residential whole loans, and the accounting model designated at December 31, 2024 and 2023: Held at Carrying ValueHeld at Fair ValueTotal(Dollars in Thousands)December 31, 2024December 31, 2023December 31, 2024December 31, 2023December 31, 2024December 31, 2023Business purpose loans:Single-family transitional loans (1)$22,430 $35,467 $1,078,425 $1,157,732 $1,100,855 $1,193,199 Multifamily transitional loans— — 938,926 1,168,297 938,926 1,168,297 Single-family rental loans (2)108,203 172,213 1,248,197 1,462,583 1,356,400 1,634,796 Total Business purpose loans$130,633 $207,680 $3,265,548 $3,788,612 $3,396,181 $3,996,292 Non-QM loans722,392 843