Company: MFAN
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001055160-25-000004
Chunk: 396

Company: MFA FINANCIAL, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 4
Chunk 396
---
246 $1,086,635 $1,310,679 Twelve Months Ended December 31, 2024 Total Gross write-offs$— $12 $523 $6,169 $6,704 (1)LTV represents the ratio of the total unpaid principal balance of the loan to the estimated value of the collateral securing the related loan as of the most recent date available, which may be the origination date.  For Single-family and Multifamily transitional loans, the LTV presented is the ratio of the maximum unpaid principal balance of the loan, including unfunded commitments, to the estimated “after repaired” value of the collateral securing the related loan, where available.  For certain Single-family transitional loans, an after repaired valuation was not obtained and the loan was underwritten based on an “as is” valuation. Excluded from the calculation of weighted average LTV are certain low value loans secured by vacant lots for which the LTV is not meaningful.

86  

Table of ContentsMFA FINANCIAL, INC.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024

The following table presents vintage information regarding our Residential whole loans, at fair value:Fair Value by Origination Year(In Thousands)20242023202220212020PriorTotalSingle-family transitional loans$544,540 $388,789 $123,455 $21,592 $— $48 $1,078,425 Multifamily transitional loans88,914 449,353 279,280 121,379 — — 938,926 Single-family rental loans93,459 241,114 540,650 365,128 7,709 137 1,248,197 Non-QM loans1,085,020 687,051 578,230 1,185,343 226 32,824 3,568,694 Legacy RPL/NPL loans— — — — — 624,896 624,895 Other loans— — — 52,073 — — 52,073 Total Residential whole loans, at fair value$1,811,933 $1,766,307 $1,521,615 $1,745,515 $7,935 $657,905 $7,511,210 The following table presents realized credit losses, net of