Company: MFAN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001055160-25-000007
Chunk: 12

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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1,523,712 $4,540,553 $1,059,742 $53,137 

(1)Includes loans on which borrowers have defaulted and are not making payments of principal and/or interest as of March 31, 2025.

(2)Excludes an allowance for credit losses.

Our Transitional loans contain various contractual extension features, typically ranging from three to twenty-four months subject to certain conditions, generally including our consent. Transitional loans are generally only extended if the loan is current and in compliance with various other loan terms. Given the short duration of our Transitional loans, maturity extensions are a regular occurrence, irrespective of market conditions. At March 31, 2025, approximately 30% of our Multifamily transitional loans and 30% of our Single-family transitional loans held as of period end had been extended. 

For additional information regarding our residential whole loan portfolios, including information about delinquency trends, see Note 3 to the consolidated financial statements, included under Item 1 of this Quarterly Report on Form 10-Q.

59  

Securities, at Fair Value

The following table presents information with respect to our Securities, at fair value at March 31, 2025 and December 31, 2024: 

(Dollars in Thousands)March 31, 2025 December 31, 2024Agency MBSFace/Par$1,642,078 $1,403,891 Fair Value1,648,193 1,392,635 Amortized Cost1,641,472 1,405,900 Weighted average yield (1)5.60 %5.45 %Weighted average time to maturity29.0 years29.1 yearsTerm notes backed by MSR collateralFace/Par$55,000 $55,000 Fair Value54,725 54,588 Amortized Cost51,640 50,639 Weighted average yield (1)17.76 %13.95 %Weighted average time to maturity0.6 years0.8 yearsCRT SecuritiesFace/Par$61,885 $64,602 Fair Value64,455 67,642 Amortized Cost56,427 58,930 Weighted average yield (1)9.26 %9.35 %Weighted average time to maturity14.3 years15.0 yearsNon-Agency MBSFace/Par$