MFA Financial reports Q3 EPS 35c, consensus 27c

Reports Q3 economic book value per share $13.69. “We made meaningful progress across our business during the third quarter,” stated Craig Knutson, MFA‘s Chief Executive Officer. “We acquired $1.2 billion of residential mortgage assets, including $453 million of Non-QM loans and $473 million of Agency MBS at attractive yields. Lima One grew its origination volume by 20% to $260 million, including $200 million of new transitional loans with an average coupon of 10%. We securitized $721 million of Non-QM loans and profitably sold $66 million of newly-originated rental loans. We also resolved $223 million of previously delinquent loans, reducing the delinquency rate across our entire loan portfolio to 6.8%.”