UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________________________ FORM 10-Q (Mark One) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13991 MFA FINANCIAL, INC. (Exact name of registrant as specified in its charter) __________________________________________________________________ (State or other jurisdiction of incorporatio ...

Financial Data and Key Metrics Changes - The company reported a GAAP loss of $108.6 million in Q2 2022, primarily due to unrealized losses on residential whole loans at fair value [29] - Distributable earnings were $47.2 million or $0.46 per share, exceeding the common dividend of $0.44 [46] - Book value declined by 8% for both GAAP and economic book value, standing at $1.42 and $1.56 respectively [28] - Leverage increased from 3.1 times to 3.3 times, primarily due to book value decline [29] Business Line Data and Key Metrics Changes - The acquisition pace slowed, with nearly 70% of loan acquisitions coming from Lima One, resulting in a slight decrease in the overall loan portfolio [30] - Lima One originated approximately $600 million in loans during the quarter, with a current origination pipeline of about $450 million at a weighted average coupon of approximately 8% [26][67] - The company executed three securitizations in the quarter and two more in July, totaling nearly $4 billion in securitized debt [31] Market Data and Key Metrics Changes - The S&P 500 Index was down over 16% in Q2 2022, marking its worst first half in over 50 years [12] - Bond markets experienced a selloff, with indices generally down about 10% for the first half of the year [13] - Mortgage spreads widened materially, with high yield spreads increasing by nearly 300 basis points year-to-date [13] Company Strategy and Development Direction - The company has prioritized liquidity, ending both Q1 and Q2 with close to $400 million in cash to cushion against market volatility [22] - The strategy includes managing interest rate risk through interest rate swaps and securitizations, with over 95% of asset-based financing now fixed [17] - The company aims to take advantage of opportunities arising from market conditions while maintaining a cautious approach to acquisitions [22][50] Management's Comments on Operating Environment and Future Outlook - Management noted that the investment environment has been exceptionally challenging, with high inflation and aggressive Fed tightening impacting financial markets [12][14] - Future home price appreciation is expected to slow, but significant declines are not anticipated due to strong demand factors still in play [25] - The company remains cautious over the intermediate term as economic prospects become increasingly uncertain [50] Other Important Information - The company liquidated $40 million of REO properties in Q2, posting a net gain of $7 million [32] - The CECL provision for credit losses was $30.4 million, primarily due to a reserve adjustment for a mortgage originator that ceased operations [39] - Serious delinquencies in the non-QM portfolio decreased to 2.6%, indicating strong credit performance [53] Q&A Session Summary Question: What is the normalized level for leverage and what are the plans for capital deployment? - Management indicated that leverage typically falls in the low-to-mid-3s range and is influenced by asset purchases and financing methods [85][86] Question: Can you provide a quarter-to-date book value update? - Management estimated that book value is likely up about 1% since June 30 [87] Question: Can you comment on the relationship with warehouse lenders? - Management reported strong relationships with lenders, indicating no issues with liquidity or margin calls, and noted a recourse leverage of 1.8 times [99][100] Question: How do you view the profitability of Lima One in the current market? - Management emphasized the long-term potential of Lima One to generate attractive assets, with a focus on portfolio growth rather than quarterly profitability [124][126]

Second Quarter 2022 Earnings Presentation Forward looking statements When used in this presentation or other written or oral communications, statements which are not historical in nature, including those containing words such as "will," "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "could," "would," "may," the negative of these words or similar expressions, are intended to identify "forward-looking statements" within the meaning of Section 27A of the Securities Act o ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13991 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________________________ FORM 10-Q (Mark One) MFA FINANCIAL, INC. (Exact name of registrant a ...

MFA Financial, Inc. (NYSE:MFA) Q1 2022 Earnings Conference Call May 4, 2022 10:00 AM ET Company Participants Hal Schwartz ??? Senior Vice President, General Counsel and Secretary Craig Knutson ??? Chief Executive Officer and President Steve Yarad ??? Chief Financial Officer Bryan Wulfsohn ??? Co-Chief Investment Officer Gudmundur Kristjansson ??? Co-Chief Investment Officer Conference Call Participants Mike Smyth ??? KBW Steve DeLaney ??? JMP Securities Operator Ladies and gentlemen, thank you for standing ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13991 MFA FINANCIAL, INC. (Exact name of registrant as specified in its charter) Maryland 13-3974868 (I.R.S. Employer Identification N ...

MFA Financial, Inc. (NYSE:MFA) Q4 2021 Results Conference Call February 23, 2022 10:00 AM ET Company Participants Hal Schwartz - SVP, General Counsel and Secretary Craig Knutson - CEO and President Steve Yarad - CFO Gudmundur Kristjansson - Co-Chief Investment Officer Bryan Wulfsohn - Co-Chief Investment Officer Conference Call Participants Mike Smyth - KBW Eric Hagen - BTIG Josh Bolton - Credit Suisse Operator Ladies and gentlemen, thank you for standing by, and welcome to the MFA Financial, Inc. Fourth Qu ...

FINANCIAL, INC. Fourth Quarter 2021 Earnings Presentation Forward looking statements When used in this presentation or other vritten or oral communications, statements which are not historical in nature, induding those containing words such as "will," tbelleve," "expect," "anticipate," "estimate," "plan," "continue," "intend," "trould," "tray," "he negative of these words or similar expressions, are intended to identify "forward-looking statements" within the meaning of Section 27A of the Securities Act of ...

Third Quarter 2021 Earnings Presentation Forward looking statements When used in this presentation or other written or oral communications, statements which are not historical in nature, including those containing words such as "will," "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "could," "would," "may," the negative of these words or similar expressions, are intended to identify "forward-looking statements" within the meaning of Section 27A of the Securities Act of ...

MFA Financial, Inc. (NYSE:MFA) Q3 2021 Earnings Conference Call November 5, 2021 10:00 AM ET Company Participants Hal Schwartz - SVP, General Counsel and Secretary Craig Knutson - CEO and President Steve Yarad - CFO Gudmundur Kristjansson - Co-Chief Investment Officer Bryan Wulfsohn - Co-Chief Investment Officer Conference Call Participants Steve DeLaney - JMP Securities Stephen Laws - Raymond James Mike Smith - KBW Eric Hagen - BTIG Operator Ladies and gentlemen, thank you for standing by, and welcome to t ...