Company: MFAN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001055160-25-000007
Chunk: 244

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 244
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 first quarter of 2025. During the three months ended March 31, 2024, Non-QM and Single-family rental loans with an unpaid principal balance of $171.0 million were sold, realizing losses, before the impact of economic hedging gains and the reversal of previously recognized unrealized losses, of $21.7 million.  Upon sale, the Company reversed $23.7 million of previously recognized unrealized losses, resulting in a net gain of $2.0 million during the quarter.  Allowance for Credit LossesThe following table presents a roll-forward of the allowance for credit losses on the Company’s Residential whole loans, at carrying value: Three Months Ended March 31, 2025(In Thousands)Single-family transitional loans (1)Single-family rental loansNon-QM loansLegacy RPL/NPL loans (2)TotalsAllowance for credit losses at December 31, 2024$1,389 $366 $2,125 $6,785 $10,665 Current provision/(reversal)(88)614 (197)(184)145 Write-offs(436)— — (180)(616)Allowance for credit losses at March 31, 2025$865 $980 $1,928 $6,421 $10,194  Three Months Ended March 31, 2024(In Thousands)Single-family transitional loans (1)Single-family rental loans (3)Non-QM loansLegacy RPL/NPL loans (2)TotalsAllowance for credit losses at December 31, 2023$2,587 $4,355 $1,871 $11,638 $20,451 Current provision/(reversal)(472)228 (190)(26)(460)Write-offs(416)59 — (22)(379)Allowance for credit losses at March 31, 2024$1,699 $4,642 $1,681 $11,590 $19,612 (1)Includes $11.0 million and $21.9 million of loans that were assessed for credit losses based on a collateral dependent methodology as of March 31, 2025 and 2024, respectively.(2)Includes $37.0 million and $50.5 million of loans that were assessed for credit losses based on a collateral dependent methodology as of March 31,