Company: NREF
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001786248-25-000004
Chunk: 334

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 334
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)Senior loans, held-for-investment include our SFR Loans.

(4)Net interest income is calculated as the difference between total interest income and total interest expense.

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Table of Contents

The year ended December 31, 2023 as compared to the year ended December 31, 2022

The following table presents the components of net interest income for the years ended December 31, 2023 and 2022 (dollars in thousands):

For the Year Ended December 31,20232022Interest income/(expense)AverageBalance (1)Yield (2)Interest income/(expense)AverageBalance (1)Yield (2)$ Change% ChangeInterest incomeSFR Loans, held-for-investment$27,259 $712,592 3.83 %$43,946 $746,111 5.89 %$(16,687)(38.0)%Mezzanine loans, held-for-investment14,191 144,536 9.82 %15,464 157,789 9.80 %(1,273)(8.2)%Preferred equity, held-for-investment19,641 165,674 11.86 %9,263 102,471 9.04 %10,378 112.0 %Convertible bond, held-for-investment— N/AN/A2,545 47,821 5.32 %(2,545)-100.0 %CMBS structured pass through certificates, at fair value2,218 43,824 5.06 %4,682 66,442 7.05 %(2,464)-52.6 %Bridge loan— N/AN/A346 6,787 5.10 %(346)(100.0)%MSCR notes1,341 10,267 13.06 %590 4,385 13.45 %751 127.3 %Mortgage backed securities3,708 32,450 11.43 %1,152 11,025 10.45 %2,556 221.9 %Total interest income$68,358 $1,109,343 6.16 %$77,988 $1,142,831 6.82 %$(9,630)(12.3)%Interest expenseRepurchase agreements(22,576)(323,443)6