Company: MFAN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001055160-25-000007
Chunk: 102

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 102
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$— — %— %$450,000 1.16 %4.49 %Over 30 days to 3 months125,000 2.69 4.41 100,000 1.65 4.49 Over 3 months to 6 months— — — 125,000 2.69 4.49 Over 6 months to 12 months— — — — — — Over 12 months to 24 months1,329,500 1.48 4.41 450,000 1.12 4.49 Over 24 months to 36 months420,500 3.44 4.41 1,045,000 1.84 4.49 Over 36 months to 48 months24,600 4.28 4.41 24,600 4.28 4.49 Over 48 months to 60 months770,000 3.41 4.41 574,000 3.28 4.49 Over 60 months to 72 months— — — — — — Over 72 months696,250 3.55 4.41 545,150 3.42 4.49 Total Swaps$3,365,850 2.66 %4.41 %$3,313,750 2.20 %4.49 %(1)Each maturity category reflects contractual amortization and/or maturity of notional amounts.  (2)Reflects the benchmark variable rate due from the counterparty at the date presented.  This rate adjusts daily based on SOFR. Impact of Derivative Instruments on EarningsThe following table present the components of Net gain/(loss) on derivatives used for risk management purposes, which is presented in Other Income/(Loss), net in the consolidated statements of operations:  Three Months Ended March 31, (In Thousands)20252024Income on swap variable receive leg$34,078 $44,177 Expense on swap fixed pay leg(18,824)(15,086)Unrealized mark-to-market gain/(loss)(44,842)23,182 Net price alignment expense on margin collateral received(1,467)(2,332)Realized gain/(loss) on terminated swaps— — Total Net gain/(loss)