MFA Financial, Inc. MFA Financial, Inc. is a specialty finance company and real estate investment trust that primarily invests in residential mortgage assets on a leveraged basis; its targeted investments include residential whole loans such as non-qualified mortgage (Non-QM) loans, business purpose loans, purchased performing loans, purchased credit deteriorated loans, and non-performing loans; residential mortgage-backed securities comprising agency mortgage-backed securities (MBS), non-agency MBS, and credit risk transfer (CRT) securities; and mortgage servicing rights (MSR)-related assets including term notes backed by MSRs. Through its wholly-owned subsidiary Lima One Capital, LLC, the company originates and services business purpose loans for real estate investors, including fix-and-flip rehabilitation loans and rental property financing for non-owner occupied one-to-four family residential properties. MFA Financial operates principally in the United States, with a focus on generating distributable income through credit analysis, projected prepayment rates, interest rate sensitivity, and asset performance linked to residential mortgage credit fundamentals; it is headquartered in New York, New York, and was founded in 1997. Recent developments include the completion of its 20th Non-QM loan securitization, MFA 2025-NQM4, in 2025; significant Non-QM loan acquisitions totaling $452.8 million in Q3 2025, expanding the Non-QM portfolio to $5.1 billion; Lima One funding $148.5 million in business purpose loans during the same period; a quarterly dividend increase to $0.36 per share; and declarations of dividends on its 7.50% Series B Cumulative Redeemable Preferred Stock and 6.50% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for Q4 2025. The company also expanded its total investment portfolio to approximately $10.8 billion, with new agency MBS acquisitions pushing that segment to $1.7 billion as of mid-2025, alongside plans to resume multifamily lending and target higher returns on equity through capital deployment in 2026.