Company: MFAN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001055160-25-000018
Chunk: 15

Company: MFA FINANCIAL, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 15
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 the net taxable loss of a TRS unless the TRS liquidates for tax purposes.

Consequently, our REIT taxable income calculated in a given period may differ significantly from our GAAP net income.

Recent tax legislation

On July 4, 2025, the U.S. government enacted the One Big Beautiful Bill Act (“OBBBA”), which includes several changes to U.S. federal income tax law, including the temporary and permanent extension of expiring provisions of the Tax Cuts and Jobs Act of 2017. The Company is still evaluating the potential impacts of the OBBBA; however, the Company does not anticipate it will have a material impact on the Company’s financial statements.

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Results of Operations

Quarter Ended September 30, 2025 Compared to the Quarter Ended June 30, 2025

The following table summarizes the changes in our results of operations for the three months ended September 30, 2025 compared to the three months ended June 30, 2025.  

Three Months Ended(In Thousands, Except Per Share Amounts)September 30, 2025 June 30, 2025QoQ ChangeInterest Income: Residential whole loans$153,290 $154,568 $(1,278)Securities, at fair value27,708 28,778 (1,070)Other interest-earning assets515 528 (13)Cash and cash equivalent investments4,278 4,470 (192)Interest Income$185,791 $188,344 $(2,553)Interest Expense:Asset-backed and other collateralized financing arrangements$124,403 $122,523 $1,880 Other interest expense4,598 4,545 53 Interest Expense$129,001 $127,068 $1,933 Net Interest Income$56,790 $61,276 $(4,486)Reversal/(Provision) for Credit Losses on Residential Whole Loans$(276)$(791)$515 Reversal/(Provision) for Credit Losses on Other Assets— — — Net Interest Income after Reversal/(Provision) for Credit Losses$56,514 $60,485 $(3,971)Other Income/(Loss), net:Net gain/(loss) on residential whole loans measured at fair value through earnings$41,293 $33,611 $7,682