MFA Financial reported second quarter 2026 results with economic book value essentially unchanged at $13.20 per share and a total economic return of 2.6%. The company resolved approximately $200 million of previously delinquent loans, reducing its 60-plus day delinquency rate from 7.8% to 7.0%, while GAAP net income was $46.8 million or $0.35 per basic common share. Distributable earnings were $12.2 million or $0.12 per share, impacted by $24.5 million of realized credit losses on fair value loans, though distributable earnings prior to realized credit losses rose to $36.7 million or $0.35 per share. Lima One origination volume increased 44% to $316 million, and the investment portfolio grew to approximately $13 billion from $12.5 billion at March 31. The company repurchased over 500,000 common shares and expects run-rate G&A expenses to average $26 million to $27 million per quarter for the rest of the year.
MFA Financial IncStable book value, positive economic return, and accelerated loan resolutions indicate financial health.