- Business
- MFA Financial, Inc. (NYSE: MFA) operates as an internally-managed real estate investment trust that invests on a leveraged basis in residential mortgage assets, including residential whole loans, residential mortgage-backed securities and other real estate-related investments; through its wholly-owned subsidiary Lima One Capital, the company originates and services business purpose loans for real estate investors, encompassing single-family rental loans, single-family transitional loans and multifamily transitional loans; core residential whole loan categories comprise non-qualified mortgage (non-QM) loans, legacy re-performing/non-performing loans (RPL/NPL), business purpose loans and other loans; residential mortgage securities include agency mortgage-backed securities (MBS), non-agency MBS and credit risk transfer (CRT) securities; additional assets feature mortgage servicing rights (MSR)-related term notes and real estate owned (REO) properties.
Founded in 1997 and headquartered in New York, NY, MFA Financial targets credit-sensitive residential mortgage opportunities across the United States, with a principal objective of generating distributable income linked to residential mortgage credit fundamentals and delivering shareholder value.
In recent developments, MFA Financial expanded its residential investment portfolio to $11.2 billion as of September 30, 2025, through $1.2 billion in acquisitions including $452.8 million of non-QM loans growing that portfolio to $5.1 billion and $472.8 million of agency MBS increasing holdings to $2.2 billion; Lima One funded $148.5 million of new business purpose loans and $77.4 million of draws on transitional loans with origination volume up 20% to $260 million; the company completed two non-QM loan securitizations totaling $721.5 million raising total securitized debt to $6.4 billion, sold $65.8 million of newly-originated single-family rental loans and resolved $223 million of delinquent loans reducing the portfolio delinquency rate to 6.8%; further actions include repurchasing nearly 500,000 common shares, deploying excess cash into target assets, implementing G&A cost reductions of 7-10% from 2024 levels and planning a wholesale origination channel launch in 2026 alongside resumption of multifamily lending.