Company: MFAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001055160-25-000013
Chunk: 92

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 92
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-offs— — (1,022)(14)(1,036)Allowance for credit losses at June 30, 2025$2,015 $937 $512 $6,485 $9,949  Six Months Ended June 30, 2024(In Thousands)Non-QM loansSingle-family rental loansSingle-family transitional loans (1)Legacy RPL/NPL loans (2)TotalsAllowance for credit losses at December 31, 2023$1,871 $4,355 $2,587 $11,638 $20,451 Current provision/(reversal)(190)228 (472)(26)(460)Write-offs— 59 (416)(22)(379)Allowance for credit losses at March 31, 2024$1,681 $4,642 $1,699 $11,590 $19,612 Current provision/(reversal)(326)978 (317)(1,414)(1,079)Write-offs— (5,011)(81)(170)(5,262)Allowance for credit losses at June 30, 2024$1,355 $609 $1,301 $10,006 $13,271 (1)Includes $5.2 million and $20.4 million of loans that were assessed for credit losses based on a collateral dependent methodology as of June 30, 2025 and 2024, respectively.(2)Includes $31.8 million and $44.4 million of loans that were assessed for credit losses based on a collateral dependent methodology as of June 30, 2025 and 2024, respectively.Estimates of credit losses under credit losses on financial instruments (“CECL”) are highly sensitive to changes in assumptions and current economic conditions have increased the difficulty of accurately forecasting future conditions.

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

The carrying value of Residential whole loans on nonaccrual status as of June 30, 2025 and December 31, 2024 was $593.5 million and $638.3 million, respectively. During the three and six months ended June 30, 2025, the Company recognized $4.5 million and $7.3 million, respectively