MFA FINANCIAL, INC. has recently released its 10-K report, providing an insight into its operations and financial performance. The company operates as a real estate investment trust in the United States, investing in residential mortgage securities, residential whole loans, and mortgage servicing rights related assets. As of December 31, 2025, the company had total assets of approximately $13.0 billion, with residential whole loans representing 68% of the total assets, and approximately 25% of total assets invested in Agency MBS.
In the 10-K report, MFA Financial, Inc. highlights its business strategy of delivering shareholder value through the generation of distributable income and asset performance linked to residential mortgage credit fundamentals. The company selectively invests in residential mortgage assets with a focus on credit analysis, projected prepayment rates, interest rate sensitivity, and expected return. It also discusses the factors affecting its business operations, including net interest income, market value of assets and liabilities, and hedges accounted for at fair value through earnings.
The report further details the company's recent market conditions and strategy. In 2025, MFA Financial, Inc. capitalized on strong fixed income returns, adding $4.8 billion of target assets at attractive yields, including Agency MBS, Non-QM loans, and funded originations of Business purpose loans. The company generated GAAP earnings per share of $1.31 and declared dividends totaling $1.44 per common share. Additionally, its subsidiary, Lima One, originated Business purpose loans with a maximum unpaid principal balance of $0.9 billion and expanded its sales force and technology initiatives.
The 10-K report also provides an overview of the company's 2025 portfolio activity and its impact on financial results. At December 31, 2025, the company's residential mortgage asset portfolio, including residential whole loans and REO, and Securities, at fair value, was approximately $12.3 billion compared to $10.5 billion at December 31, 2024. The total recorded investment in residential whole loans and REO was $8.9 billion, with $5.3 billion in Non-QM loans, $1.2 billion in Single-family rental loans, $0.7 billion in Single-family transitional loans, $0.5 billion in Multifamily transitional loans, and $1.0 billion in Legacy RPL/NPL loans.
Following these announcements, the company's shares moved 1.92%, and are now trading at a price of $10.10. Check out the company's full 10-K submission here.
