Company: MFAN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001055160-25-000018
Chunk: 125

Company: MFA FINANCIAL, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 125
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 original term specified in this lease is approximately nine years with a termination date of December 2033 and two options to renew for an additional four years for the first extension and an additional five years for the second extension. The Company recognized total lease expense of $2.2 million, and $1.7 million for the three months ended September 30, 2025 and 2024, respectively, and $6.7 million and $5.3 million for the nine months ended September 30, 2025 and 2024, respectively, which is included in Other general and administrative expense on the Company’s consolidated statements of operations.At September 30, 2025, the contractual minimum rental payments (exclusive of possible rent escalation charges and normal recurring charges for maintenance, insurance and taxes) for the Company’s lease commitments were as follows:  Year Ending December 31, Minimum Rental Payments(In Thousands) 2025 (1)$1,735 20266,946 20277,267 20287,083 20297,065 Thereafter45,291 Total$75,387 Present Value Discount(23,896)Total Lease Liability (Note 7)$51,491 (1) Reflects contractual minimum rental payments due for the period from October 01, 2025 through December 31, 2025.(b) Representations and Warranties in Connection with Loan Securitization and Other Loan Sale TransactionsIn connection with the loan securitization and sale transactions entered into by the Company, the Company has the obligation under certain circumstances to repurchase assets previously transferred to securitization vehicles, or otherwise sold, upon breach of certain representations and warranties.  As of September 30, 2025, the Company was not aware of any material unsettled repurchase claims that would require a reserve (see Note 14).

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Table of ContentsMFA FINANCIAL, INC.NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTSSEPTEMBER 30, 2025

(c) Loan Commitments At September 30, 2025, the Company had unfunded commitments in connection with its Single-family and Multifamily transitional loans of $266.6 million and $30.3 million, respectively (see Note 3). These commitments are subject to certain conditions that the respective borrowers must meet before funding is required. In addition, from time to time, Lima One makes short