MFA Financial reported strong results for Q2 2024, generating distributable earnings of $0.44 per share and an increase in economic book value to $14.34 per share. The company acquired $688 million in residential mortgage loans and $176 million in Agency MBS. On the liability side, MFA repaid $170 million in convertible notes and issued $75 million in senior unsecured notes. They also completed two securitizations collateralized by $557 million of Non-QM and Transitional loans and benefited from a $3.3 billion interest rate swap position.
Distributable earnings were $0.44 per share.
Economic book value rose to $14.34 per share.
$688 million in residential mortgage loans were purchased or originated with an average coupon of 9.6%.
$176 million of Agency MBS were added.
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