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Jun 30, 2022
MFA Financial Q2 2022 Earnings Report
Announced second quarter 2022 financial results, facing challenges across all financial markets but protecting book value and preserving capital.
Key Takeaways
MFA Financial reported a GAAP loss of ($1.06) per common share for Q2 2022. Despite challenging market conditions, the company maintained a substantial cash position, closing the quarter with nearly $400 million in unrestricted cash. The company's GAAP book value decreased to $16.42 per share, and Economic book value declined to $17.25 per share. Distributable Earnings were $47.2 million, or $0.46 per common share.
MFA's residential mortgage investment portfolio decreased by $85.0 million during the second quarter.
Loan acquisitions totaled $728.6 million, including $508.5 million of Business Purpose loans and $220.1 million of Non-QM loan acquisitions.
Lima One funded more than $425.2 million of business purpose loans and generated approximately $10.7 million of fee income.
The company increased its position in interest rate swaps to a notional amount of $3.2 billion.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the text.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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