Company: MFAN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001055160-25-000018
Chunk: 149

Company: MFA FINANCIAL, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 149
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 yearsFace amount of Senior Support Certificates received by the Company (4)$1,319,362 $1,222,029 Cash received$9,821,597 $8,574,069 (1)Net of $0.9 million and $1.1 million of deferred financing costs at September 30, 2025 and December 31, 2024, respectively.(2)At September 30, 2025, 99.6% and 0.4% of Senior Bonds had a fixed and variable rate, respectively. At December 31, 2024, all Senior Bonds had a fixed rate.(3)At September 30, 2025 and December 31, 2024, $4.8 billion and $4.2 billion, respectively, of Senior Bonds sold in securitization transactions contained a contractual coupon step-up feature whereby the coupon increases by either 100, 150, or 300 basis points at defined dates ranging from 30 months, up to 48 months from issuance if the bond is not redeemed before such date.(4)Provides credit support to the Senior Bonds sold to third-party investors in the securitization transactions.During the three and nine months ended September 30, 2025, the Company issued Senior Bonds with a current face of $672.8 million and $1.2 billion to third-party investors for proceeds of $672.8 million and $1.2 billion before offering costs and accrued interest. During the three and nine months ended September 30, 2024, the Company issued Senior Bonds with a current face of $579.5 million and $1.2 billion to third-party investors for proceeds of $561.4 million and $1.2 billion before offering costs and accrued interest. The Senior Bonds issued by the Company during the three and nine months ended September 30, 2025 and September 30, 2024 are included in Financing agreements on the Company’s consolidated balance sheets (see Note 6). During the three months ended June 30, 2024, the Company liquidated one SPE (which had been formed in 2021) and repaid the remaining $68.1 million of outstanding Senior Bonds issued by such SPE. During the three months ended September 30, 2024, the Company redeemed one SPE (which had been formed in 2022) and repaid the remaining