XML 59 R51.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Residential Whole Loans - Residential Whole Loans, at Carrying Value Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2021 | Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Weighted Average LTV Ratio | 80.00% |
Settled Whole Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Total Purchased Performing Loans | $ 6,315,738 | $ 3,478,160
Unpaid Principal Balance (“UPB”) | $ 6,189,012 | $ 3,467,099
Weighted Average Coupon | 5.05% | 6.04%
Weighted Average Term to Maturity (Months) | 307 months | 281 months
Non-QM loans | Settled Whole Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Purchased performing loans | $ 3,453,242 | $ 2,336,117
Unpaid Principal Balance (“UPB”) | $ 3,361,164 | $ 2,294,086
Weighted Average Coupon | 5.07% | 5.84%
Weighted Average Term to Maturity (Months) | 355 months | 351 months
Weighted Average LTV Ratio | 66.00% | 64.00%
Weighted Average FICO Scores | 731 | 712
Non-QM loans | Settled Whole Loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 3,165,964 | $ 2,042,405
Non-QM loans | Settled Whole Loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 77,581 | 71,303
Non-QM loans | Settled Whole Loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 22,864 | 35,697
Non-QM loans | Settled Whole Loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 94,755 | 144,681
Rehabilitation loans | Settled Whole Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Purchased performing loans | 727,964 | 563,430
Unpaid Principal Balance (“UPB”) | $ 731,154 | $ 581,801
Weighted Average Coupon | 7.18% | 7.29%
Weighted Average Term to Maturity (Months) | 11 months | 3 months
Weighted Average LTV Ratio | 67.00% | 63.00%
Weighted Average FICO Scores | 735 | 719
Rehabilitation loans | Settled Whole Loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 616,733 | $ 390,706
Rehabilitation loans | Settled Whole Loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 5,834 | 29,315
Rehabilitation loans | Settled Whole Loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 5,553 | 25,433
Rehabilitation loans | Settled Whole Loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 103,034 | 136,347
Single-family rental loans | Settled Whole Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Purchased performing loans | 949,772 | 442,456
Unpaid Principal Balance (“UPB”) | $ 924,498 | $ 442,208
Weighted Average Coupon | 5.46% | 6.32%
Weighted Average Term to Maturity (Months) | 329 months | 324 months
Weighted Average LTV Ratio | 70.00% | 70.00%
Weighted Average FICO Scores | 732 | 730
Single-family rental loans | Settled Whole Loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 898,166 | $ 411,377
Single-family rental loans | Settled Whole Loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 2,150 | 6,691
Single-family rental loans | Settled Whole Loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 695 | 3,907
Single-family rental loans | Settled Whole Loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 23,487 | 20,233
Seasoned performing loans | Settled Whole Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Purchased performing loans | 101,995 | 136,157
Unpaid Principal Balance (“UPB”) | $ 111,710 | $ 149,004
Weighted Average Coupon | 2.76% | 3.30%
Weighted Average Term to Maturity (Months) | 162 months | 171 months
Weighted Average LTV Ratio | 37.00% | 40.00%
Weighted Average FICO Scores | 722 | 723
Seasoned performing loans | Settled Whole Loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 102,047 | $ 136,778
Seasoned performing loans | Settled Whole Loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 938 | 2,248
Seasoned performing loans | Settled Whole Loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 481 | 1,155
Seasoned performing loans | Settled Whole Loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 8,244 | 8,823
Agency eligible investor loans | Settled Whole Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Purchased performing loans | 1,082,765 |
Unpaid Principal Balance (“UPB”) | $ 1,060,486 |
Weighted Average Coupon | 3.40% |
Weighted Average Term to Maturity (Months) | 354 months |
Weighted Average LTV Ratio | 62.00% |
Weighted Average FICO Scores | 767 |
Agency eligible investor loans | Settled Whole Loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 1,039,257 |
Agency eligible investor loans | Settled Whole Loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 21,229 |
Agency eligible investor loans | Settled Whole Loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 0 |
Agency eligible investor loans | Settled Whole Loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 0 |
Purchased Credit Deteriorated Loans | Settled Whole Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Purchased Credit Deteriorated Loans | 524,992 | 630,339
Unpaid Principal Balance (“UPB”) | $ 643,187 | $ 782,319
Weighted Average Coupon | 4.55% | 4.46%
Weighted Average Term to Maturity (Months) | 283 months | 287 months
Weighted Average LTV Ratio | 69.00% | 76.00%
Purchased Credit Deteriorated Loans | Settled Whole Loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 456,924 | $ 544,803
Purchased Credit Deteriorated Loans | Settled Whole Loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 50,048 | 65,791
Purchased Credit Deteriorated Loans | Settled Whole Loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 18,736 | 26,697
Purchased Credit Deteriorated Loans | Settled Whole Loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 117,479 | 145,028
Purchased Non-performing Loans | Settled Whole Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Purchased Credit Deteriorated Loans | 1,072,270 | 1,216,902
Unpaid Principal Balance (“UPB”) | $ 1,073,544 | $ 1,282,093
Weighted Average Coupon | 4.87% | 4.87%
Weighted Average Term to Maturity (Months) | 283 months | 290 months
Weighted Average LTV Ratio | 73.00% | 80.00%
Purchased Non-performing Loans | Settled Whole Loans | Current |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | $ 492,481 | $ 497,299
Purchased Non-performing Loans | Settled Whole Loans | 30-59 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 87,041 | 104,993
Purchased Non-performing Loans | Settled Whole Loans | 60-89 |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 40,876 | 54,180
Purchased Non-performing Loans | Settled Whole Loans | 90 or more |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Aging by UPB | 453,146 | 625,621
Residential whole loans | Settled Whole Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Purchased Credit Deteriorated Loans | 7,913,000 | 5,325,401
Unpaid Principal Balance (“UPB”) | $ 7,905,743 | $ 5,531,511
Weighted Average Coupon | 4.99% | 5.54%
Weighted Average Term to Maturity (Months) | 301 months | 284 months
Certain rehabilitation loans | Settled Whole Loans |  |
Accounts, Notes, Loans and Financing Receivable [Line Items] |  |
Purchased performing loans | $ 137,300 | $ 189,900
Weighted Average LTV Ratio | 71.00% | 69.00%

X
- Definition Financing Receivable, Unpaid Principal Balance + References No definition available. + Details
Name: | mfa_FinancingReceivableUnpaidPrincipalBalance
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: | dtr-types: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 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: | dtr-types: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:pureItemType
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 https://asc.fasb.org/extlink&oid=121614798&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 https://asc.fasb.org/extlink&oid=123409700&loc=d3e13503-111538 + Details
Name: | us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesCarryingAmountNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amortized cost, after allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease. + 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 https://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124259787&loc=d3e4428-111522 + Details
Name: | us-gaap_NotesReceivableNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

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

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=mfa_NonQMLoansMember
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: |

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

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=mfa_ResidentialWholeLoansMember
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: |