Company: MFAN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001055160-25-000007
Chunk: 136

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 136
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$8,857,447 $8,574,069 (1)Net of $1.1 million and $1.1 million of deferred financing costs at March 31, 2025 and December 31, 2024, respectively.(2)At March 31, 2025 and December 31, 2024, $4.3 billion and $4.2 billion, respectively, of Senior Bonds sold in securitization transactions contained a contractual coupon step-up feature whereby the coupon increases by either 100, 150, or 300 basis points or more at defined dates ranging from 30 months, up to 48 months from issuance if the bond is not redeemed before such date.(3)Provides credit support to the Senior Bonds sold to third-party investors in the securitization transactions.During the three months ended March 31, 2025, the Company issued Senior Bonds with a current face of $283.4 million to third-party investors for proceeds of $283.4 million before offering costs and accrued interest. During the three months ended March 31, 2024, the Company issued Senior Bonds with a current face of $160.0 million to third-party investors for proceeds of $160.0 million before offering costs and accrued interest. The Senior Bonds issued by the Company during the three months ended March 31, 2025 and March 31, 2024 are included in Financing agreements on the Company’s consolidated balance sheets (see Note 6).As of March 31, 2025 and December 31, 2024, as a result of the transactions described above, securitized loans of approximately $7.0 billion and $6.9 billion are included in Residential whole loans and REO with a carrying value of approximately $30.7 million and $26.9 million are included in Other assets on the Company’s consolidated balance sheets, respectively.  As of March 31, 2025 and December 31, 2024, the aggregate carrying value of Senior Bonds issued by consolidated VIEs was $5.9 billion 

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Table of ContentsMFA FINANCIAL, INC.NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTSMARCH 31, 2025

and $5.8 billion, respectively.  These Senior Bonds are disclosed as Securitized debt and are included in Financing agreements  on the Company’s consolidated balance sheets.  The