Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 189

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 189
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 Losses on Residential Whole Loans Held at Carrying Value

For the six months ended June 30, 2025, we recorded a provision for credit losses on residential whole loans held at carrying value of $0.9 million compared to a reversal of provision for credit losses of $1.5 million for the six months ended June 30, 2024. The provision for the current period primarily reflects minor changes to modeling assumptions, partially offset by the run-off of loans held at carrying value. The reversal of provision for the prior period primarily reflects the run-off of loans held at carrying value and minor changes to modeling assumptions.

Provision for Credit Losses on Other Assets

For the six months ended June 30, 2025, we had no provision for credit losses on Other Assets. For the six months ended June 30, 2024, we recorded a provision for credit losses on Other Assets of $1.1 million, related to an uncollectible receivable from an unrelated third party servicer.

Other Income/(Loss), net

For the six months ended June 30, 2025, Other Income/(Loss), net was $36.8 million, compared to an Other Income/(Loss), net of $52.3 million for the six months ended June 30, 2024.  The components of Other Income/(Loss), net for the six months ended June 30, 2025 and 2024 are summarized in the table below:

Six Months Ended June 30,(In Thousands)20252024Net gain/(loss) on residential whole loans measured at fair value through earnings$87,991 $4,917 Impairment and other net gain/(loss) on securities and other portfolio investments27,824 (7,618)Net gain/(loss) on real estate owned(4,419)2,871 Net gain/(loss) on derivatives used for risk management purposes(49,306)66,028 Net gain/(loss) on securitized debt measured at fair value through earnings(29,036)(33,104)Lima One mortgage banking income11,524 15,547 Net realized gain/(loss) on residential whole loans held at carrying value(882)418 Other, net(6,934)3,192 Other Income/(Loss), net$36,762 $52,251 

Operating and Other Expense

Operating and other expenses are composed of compensation and benefits, other general and administrative, loan servicing