Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 269

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 269
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angibles, net (1)3,200 4,800 Capital contributions made to loan origination partners20,182 16,793 Commercial loans7,435 7,435 Interest receivable105,133 104,395 Other loan related receivables13,698 21,643 Lease right-of-use asset (2)45,662 35,461 Other67,894 58,725 Total Other Assets$480,398 $459,555 (1) Net of aggregate accumulated amortization of $24.8 million and $23.2 million as of June 30, 2025 and December 31, 2024, respectively.  (2) An estimated incremental borrowing rate of 7.5% was used in connection with the Company’s primary operating lease (see Notes 2 and 9).

(a) Real Estate Owned and Commercial REO The following table summarizes the aggregate carrying value of REO properties by loan source prior to foreclosure proceeding or from completion of a deed-in-lieu of foreclosure or similar legal agreement.(Dollars In Thousands)June 30, 2025December 31, 2024Non-QM loans$5,562 $1,278 Business purpose loans80,457 71,090 Legacy RPL/NPL loans49,805 58,486 Total$135,824 $130,854 Number of properties377 416  At June 30, 2025, $135.8 million of residential real estate property was held by the Company that was acquired either through a completed foreclosure proceeding or from completion of a deed-in-lieu of foreclosure or similar legal agreement.  In addition, formal foreclosure proceedings were in process with respect to $41.8 million of residential whole loans held at carrying value and $256.6 million of residential whole loans held at fair value at June 30, 2025. 

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

The following table presents the activity in the Company’s REO for the three and six months ended June 30, 2025 and 2024: Three Months EndedJune 30,Six Months EndedJune 30,(Dollars In Thousands)2025202420252024Balance at beginning of period$130,634 $106,185 $