Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 93

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 93
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, of interest income on loans on nonaccrual status, including $2.0 million and $3.8 million, respectively, on its portfolio of loans which were non-performing at acquisition. At June 30, 2025 and December 31, 2024, there were approximately $29.0 million and $38.7 million, respectively, of loans held at carrying value on nonaccrual status that did not have an associated allowance for credit losses because they were determined to be collateral dependent and the estimated fair value of the related collateral exceeded the carrying value of each loan, respectively.  During the second quarter of 2025, the Company did not grant any loan modifications in its carrying value loan portfolio which gave a borrower a term extension or interest rate reduction.During the past 12 months, the Company has granted four loan modifications in its carrying value loan portfolio which gave borrowers term extensions, with one of them including an interest rate reduction. The average increase in weighted average life was 132 months, and the interest rate reduction was 1.25%.  As of June 30, 2025, the carrying value of these loans was approximately $0.26 million. As of June 30, 2025, these loans were not greater than 60 days delinquent.The following table presents certain additional credit-related information regarding our Residential whole loans, at carrying value:  Amortized Cost Basis by Origination Year and LTV Bands(In Thousands)2025 - 20222021PriorTotalNon-QM loansLTV <= 80% (1)$— $35,000 $612,654 $647,654 LTV > 80% (1)— 1,906 8,200 10,106 Total Non-QM loans$— $36,906 $620,854 $657,760 Six Months Ended June 30, 2025 Gross write-offs$— $— $— $— Business purpose loansLTV <= 80% (1)$— $5,832 $96,098 $101,930 LTV > 80% (1)— 98 4,781 4,879 Total Business purpose loans$— $5,930 $100,879 $106,809 Six Months Ended June 30, 2025 Gross write-offs$— $— $1,458 $1