**MFA Financial, Inc. Reports Fiscal Year 2025 Results**
MFA Financial, Inc., a specialty finance company, reported its financial results for the fiscal year ended December 31, 2025. The company, which invests in and finances residential mortgage assets, including residential whole loans and mortgage-backed securities, reported net income available to common stockholders and participating securities of $136.5 million, or $1.31 per basic common share, compared to $86.4 million, or $0.83 per basic common share, for the previous fiscal year. The company's total assets were approximately $13.0 billion, with residential whole loans representing 68% of the portfolio.
The company's net interest income increased by 14.0% to $231.1 million, compared to $202.7 million for the year ended December 31, 2024. This increase was primarily driven by higher net interest income from the company's securities portfolio, which was partially offset by a decrease in interest income from cash and other interest-earning assets. Operating and other expenses decreased by $15.4 million to $155.1 million, primarily due to lower compensation and benefits expenses. Other income, net, increased to $101.0 million from $85.4 million in the prior year, reflecting gains on residential whole loans measured at fair value.
During 2025, MFA Financial strategically deployed capital, adding $2.1 billion of Agency MBS, $1.8 billion of Non-QM loans, and approximately $900 million of funded originations of Business purpose loans and draws on existing Transitional loans at Lima One. The company also executed five securitizations, issuing $1.7 billion of securitized debt. The company's GAAP book value per common share was $13.20 as of December 31, 2025, while its Economic book value per common share, a non-GAAP measure, was $13.75.
Looking ahead, MFA Financial expects to continue pursuing investment opportunities in residential whole loans and Agency MBS, financed primarily through securitization transactions, term loan warehouse financing, and repurchase agreement financing, assuming economic conditions continue to support markets for residential mortgage assets. The company's Board of Directors authorized a new $200 million stock repurchase program, effective through December 31, 2028, demonstrating confidence in the company's financial position and future prospects.
About MFA FINANCIAL, INC.
MFA Financial, Inc. is a specialty finance REIT focused on investing in and financing residential mortgage assets, including whole loans, mortgage-backed securities, and mortgage servicing rights. It primarily serves institutional investors and real estate professionals, leveraging securitization and structured financing. The company emphasizes credit analysis, risk management, and asset performance to generate income and shareholder value in the residential mortgage market.
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