MFA Financial reported stable book value and portfolio growth in the second quarter, while realized credit losses continued to pressure distributable earnings. GAAP book value was $12.71 per share and economic book value was $13.20 per share, both essentially unchanged from the prior quarter. Distributable earnings fell to $0.12 per share, reflecting $24.5 million in realized credit losses tied to resolving roughly $200 million of delinquent assets. The investment portfolio grew to approximately $13 billion, and Lima One originations surged 44% sequentially to $316 million. Management expects credit losses to remain elevated in the third quarter before declining toward year-end and into early 2027.
MFA Financial IncRealized credit losses of $24.5 million pressured distributable earnings, which fell to $0.12 per share.
