MFA Financial, Inc. Q4 2025 Earnings Call Summary

For the full year 2025, MFA paid common dividends of $1.44 and delivered a total economic return of approximately 9%. Performance was bolstered by the deployment of excess cash into target assets to eliminate earnings drag, including the acquisition of $1.2 billion in Agency securities, $443 million of non-QM loans, and $226 million of business purpose loans originated by Lima One. The company is aggressively resolving delinquent loans, having cleared over $150 million in Q4, which unlocks capital for ...