MFA FINANCIAL INC
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
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Schedule IV - Mortgage Loans on Real Estate
| Asset Type · Number · Interest Rate · Maturity Date Range · Balance Sheet Reported Amount · Principal Amount of Loans Subject to Delinquent Principal or Interest | ||||||
|---|---|---|---|---|---|---|
| (Dollars in Thousands) | ||||||
| Residential Whole Loans | ||||||
| Original loan balance $0 - $149,999 | 7,596 | 0.00% - 16.00% | 7/26/2016-4/1/2062 | $663,042 | $45,934 | |
| Original loan balance $150,000 - $299,999 | 8,130 | 0.00% - 14.65% | 3/10/2013-11/1/2063 | 1,474,946 | 105,669 | |
| Original loan balance $300,000 - $449,999 | 3,840 | 0.00% - 13.88% | 12/1/2018-1/1/2066 | 1,151,268 | 90,826 | |
| Original loan balance greater than $449,999 | 5,835 | 0.70% - 15.00% | 12/1/2018-9/1/2071 | 5,668,833 | 266,084 | |
| 25,401 | $8,958,089 | (1)(2) | $508,513 | |||
(1)Excludes an allowance for loan losses of $20.5 million at December 31, 2023. Also excludes approximately $103.7 million of Residential whole loans, at fair value for which the closing of the purchase transaction had not occurred as of December 31, 2023.
(2)The federal income tax basis is approximately $4.2 billion.
Reconciliation of Balance Sheet Reported Amounts of Mortgage Loans on Real Estate
The following table summarizes the changes in the carrying amounts of residential whole loans during the year ended December 31, 2023:
| (In Thousands) | Residential Whole Loans |
|---|---|
| Beginning Balance | $7,518,739 |
| Additions during period: | |
| Purchases | $2,986,617 |
| Premium amortization/discount accretion, net | 13,819 |
| Reversal of provision for loan loss | 14,863 |
| Changes in fair value recorded in gain/(loss) on loans recorded at fair value | 114,065 |
| Deductions during period: | |
| Repayments | $(1,437,711) |
| Loan sales and repurchases | (94,624) |
| Impairment on carrying value loans | (1,240) |
| Transfer to REO | (73,236) |
| Ending Balance | $9,041,292 |
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