XML 45 R48.htm IDEA: XBRL DOCUMENT
v3.20.1

Residential Whole Loans (Residential Whole Loans, at Carrying Value - Additional Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Purchased Performing Loans |  | $ 5,189,634 |  | $ 5,370,653
Purchased Credit Deteriorated Loans |  | 744,408 |  | 698,717
Residential whole loans, at carrying value, total or weighted average |  | $ 4,968,583 |  |
Weighted Average LTV Ratio |  | 80.00% |  |
Non-QM Loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Purchased Performing Loans |  | $ 3,538,725 |  | 3,707,245
Residential whole loans, at carrying value, total or weighted average |  | 2,573,266 |  |
Loans net carrying amount | [1],[2] | 895,300 |  |
Rehabilitation loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Purchased Performing Loans |  | 978,965 |  | 1,026,097
Residential whole loans, at carrying value, total or weighted average |  | 978,965 |  |
Single-family rental loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Purchased Performing Loans |  | 506,352 |  | 460,742
Residential whole loans, at carrying value, total or weighted average |  | 506,352 |  |
Seasoned performing loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Purchased Performing Loans |  | 165,592 |  | 176,569
Residential whole loans, at carrying value, total or weighted average |  | $ 165,592 |  |
90 or more |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Weighted Average LTV Ratio |  | 88.12% | 89.69% |
Settled Whole Loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Residential whole loans, at carrying value, total or weighted average |  | $ 5,716,031 |  | 6,066,345
Amortized Cost Basis |  | 5,934,042 |  | 6,069,370
Unpaid Principal Balance (“UPB”) |  | $ 5,944,079 |  | $ 6,141,421
Weighted Average Coupon |  | 5.88% |  | 5.96%
Weighted Average Term to Maturity (Months) |  | 285 months |  | 288 months
Settled Whole Loans | Non-QM Loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Purchased Performing Loans |  | $ 3,434,894 |  | $ 3,706,857
Amortized Cost Basis |  | 3,538,725 |  | 3,707,245
Unpaid Principal Balance (“UPB”) |  | $ 3,424,646 |  | $ 3,592,701
Weighted Average Coupon |  | 5.84% |  | 5.96%
Weighted Average Term to Maturity (Months) |  | 363 months |  | 368 months
Weighted Average LTV Ratio |  | 66.00% |  | 67.00%
Weighted Average FICO Scores |  | 717 |  | 716
Settled Whole Loans | Rehabilitation loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Purchased Performing Loans |  | $ 943,332 |  | $ 1,023,766
Amortized Cost Basis |  | 978,965 |  | 1,026,097
Unpaid Principal Balance (“UPB”) |  | $ 978,965 |  | $ 1,026,097
Weighted Average Coupon |  | 7.24% |  | 7.30%
Weighted Average Term to Maturity (Months) |  | 7 months |  | 8 months
Weighted Average LTV Ratio |  | 64.00% |  | 64.00%
Weighted Average FICO Scores |  | 720 |  | 717
Settled Whole Loans | Single-family rental loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Purchased Performing Loans |  | $ 498,921 |  | $ 460,679
Amortized Cost Basis |  | 506,352 |  | 460,741
Unpaid Principal Balance (“UPB”) |  | $ 501,925 |  | $ 457,146
Weighted Average Coupon |  | 6.28% |  | 6.29%
Weighted Average Term to Maturity (Months) |  | 322 months |  | 324 months
Weighted Average LTV Ratio |  | 70.00% |  | 70.00%
Weighted Average FICO Scores |  | 734 |  | 734
Settled Whole Loans | Seasoned performing loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Purchased Performing Loans |  | $ 165,343 |  | $ 176,569
Amortized Cost Basis |  | 165,592 |  | 176,569
Unpaid Principal Balance (“UPB”) |  | $ 180,421 |  | $ 192,151
Weighted Average Coupon |  | 4.11% |  | 4.24%
Weighted Average Term to Maturity (Months) |  | 178 months |  | 181 months
Weighted Average LTV Ratio |  | 42.00% |  | 46.00%
Weighted Average FICO Scores |  | 723 |  | 723
Settled Whole Loans | Purchased credit impaired loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Purchased Credit Deteriorated Loans |  | $ 673,541 |  | $ 698,474
Amortized Cost Basis |  | 744,408 |  | 698,718
Unpaid Principal Balance (“UPB”) |  | $ 858,122 |  | $ 873,326
Weighted Average Coupon |  | 4.46% |  | 4.46%
Weighted Average Term to Maturity (Months) |  | 292 months |  | 294 months
Weighted Average LTV Ratio |  | 80.00% |  | 81.00%
Settled Whole Loans | Certain Rehabilitation Loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Purchased Performing Loans |  | $ 259,400 |  | $ 269,200
Weighted Average LTV Ratio |  | 68.00% |  | 69.00%
Settled Whole Loans | Current | Non-QM Loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | $ 3,450,648 |  | $ 3,492,533
Settled Whole Loans | Current | Rehabilitation loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 806,413 |  | 868,281
Settled Whole Loans | Current | Single-family rental loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 482,499 |  | 432,936
Settled Whole Loans | Current | Seasoned performing loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 160,944 |  | 187,683
Settled Whole Loans | 30-59 | Non-QM Loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 50,584 |  | 59,963
Settled Whole Loans | 30-59 | Rehabilitation loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 61,723 |  | 67,747
Settled Whole Loans | 30-59 | Single-family rental loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 17,536 |  | 15,948
Settled Whole Loans | 30-59 | Seasoned performing loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 1,670 |  | 2,164
Settled Whole Loans | 60-89 | Non-QM Loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 13,058 |  | 19,605
Settled Whole Loans | 60-89 | Rehabilitation loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 20,973 |  | 27,437
Settled Whole Loans | 60-89 | Single-family rental loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 2,009 |  | 2,047
Settled Whole Loans | 60-89 | Seasoned performing loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 1,099 |  | 430
Settled Whole Loans | 90 or more | Non-QM Loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 24,435 |  | 20,600
Settled Whole Loans | 90 or more | Rehabilitation loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 89,856 |  | 62,632
Settled Whole Loans | 90 or more | Single-family rental loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 4,308 |  | 6,215
Settled Whole Loans | 90 or more | Seasoned performing loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | 1,879 |  | 1,874
Settled Whole Loans | 90 or more | Purchased credit impaired loans |  |  |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |  |  |
Unpaid Principal Balance (“UPB”) |  | $ 87,179 |  | $ 108,998
[1] | Includes Non-QM loans held-for-sale with an amortized cost of $965.5 million and a net carrying value of $895.3 million at March 31, 2020.
[2] | Includes approximately $185.9 million and $186.4 million of Residential whole loans, at carrying value and $516.4 million and $567.4 million of Residential whole loans, at fair value transferred to consolidated variable interest entities (“VIEs”) at March 31, 2020 and December 31, 2019, respectively. Such assets can be used only to settle the obligations of each respective VIE

X
- Definition Financing Receivable, Amortized Cost Basis + References No definition available. + Details
Name: | mfa_FinancingReceivableAmortizedCostBasis
Namespace Prefix: | mfa_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Financing Receivable, Weighted Average Interest Rate + References No definition available. + Details
Name: | mfa_FinancingReceivableWeightedAverageInterestRate
Namespace Prefix: | mfa_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Financing Receivable, Weighted Average Term to Maturity + References No definition available. + Details
Name: | mfa_FinancingReceivableWeightedAverageTermtoMaturity
Namespace Prefix: | mfa_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Loans, Held-For-Sale, Net Carrying Value + References No definition available. + Details
Name: | mfa_LoansHeldForSaleNetCarryingValue
Namespace Prefix: | mfa_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Purchased Performing Loans + References No definition available. + Details
Name: | mfa_PurchasedPerformingLoans
Namespace Prefix: | mfa_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The LTV of which the Company has assessed its residential whole loans at carrying value will have a higher likelihood of default than newly originated mortgage loans + References No definition available. + Details
Name: | mfa_RatioLoanToValue
Namespace Prefix: | mfa_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Unpaid Principal Balance + References No definition available. + Details
Name: | mfa_UnpaidPrincipalBalance
Namespace Prefix: | mfa_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Weighted Average FICO Scores + References No definition available. + Details
Name: | mfa_WeightedAverageFICOScores
Namespace Prefix: | mfa_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_AccountsNotesAndLoansReceivableLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The recorded balance, net of any applicable reductions (for example, unamortized accretable yield and allowance for loan losses). This relates to loans not accounted for debt securities with evidence of deterioration of credit quality since origination that were acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=118939070&loc=d3e15032-111544 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 15 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118938799&loc=d3e13503-111538 + Details
Name: | us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesCarryingAmountNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount, before allowance for credit loss, of financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 + Details
Name: | us-gaap_NotesReceivableGross
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=mfa_NonQMLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=mfa_RehabilitationLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=mfa_SingleFamilyRentalLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=mfa_SeasonedPerformingLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=mfa_SettledWholeLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=mfa_CreditImpairedLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=mfa_CertainRehabilitationLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables1To29DaysPastDueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables30To59DaysPastDueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables60To89DaysPastDueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |