MFA Financial(US:MFA)2024-08-08 16:33Financial Performance - GAAP book value remained unchanged at $13.80 per common share, while economic book value rose to $14.34 per common share[7] - Distributable earnings were $0.44 per common share[7] - Net interest income increased to $53.5 million, up from $47.8 million in Q1[8] - A dividend of $0.35 per share was declared[8] Investment Activity - $688 million of high-yielding residential mortgage loans were acquired or originated[8] - $864 million of residential loans and securities were acquired, growing the investment portfolio to $10.2 billion[8] - Lima One originated loans with a maximum UPB of $412 million at an average coupon of 10%[8, 11] Portfolio Composition - Non-QM loans and Business Purpose Loans each represent $4.0 billion of the investment portfolio[9] - Agency MBS comprise $0.7 billion of the portfolio, while Legacy RPL/NPL account for $1.1 billion[9] Liabilities and Hedging - $2.7 billion of unused financing capacity is available across all loan product types[9] - $3.3 billion interest rate hedge has a positive carry of nearly 350 bps[10] - The weighted average fixed pay rate on interest rate swaps was 1.92%, while the variable receive rate was 5.33%[10]