MFA Financial reports Q2 GAAP loss of $108.6M; book value down 8.0% to $16.42

MFA FINANCIAL, INC.

2022-Q2 EPS reported -$1.91

GAAP net loss of $108.6M ($1.06 diluted EPS); Distributable Earnings of $47.2M ($0.46 EPS).
GAAP book value $16.42/sh, Economic book value $17.25/sh, down 8.0% and 8.3% QoQ respectively.
Net interest income $52.6M; interest income on residential whole loans $102.4M (+3% QoQ).
Loan originations $508.5M Business Purpose + $220.1M Non-QM acquisitions; securitizations $509.5M Q2 and $550.2M subsequent.
Provision for credit losses $1.8M; recorded $28.6M impairment charge on loan origination partner.

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