XML 76 R66.htm IDEA: XBRL DOCUMENT
v3.23.1

Financing Agreements - Financing Agreements (Details) $ in Thousands |  | 3 Months Ended | 12 Months Ended
--- | --- | --- | ---
Apr. 04, 2022 | Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($)
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | $ 7,282,912 | $ 7,043,944
Fair Value / Carrying Value |  | $ 7,101,318 | $ 6,812,086
Weighted Average Cost of Funding |  | 3.95% | 3.70%
Stock split ratio, common stock | 0.25 |  |
Convertible Debt | 6.25% Convertible Senior Notes |  |  |
Financing Agreements [Line Items] |  |  |
Stock split ratio, common stock | 0.25 |  |
Agreements with mark-to-market collateral provisions |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | $ 2,097,281 | $ 2,223,298
Fair Value / Carrying Value |  | $ 2,096,796 | $ 2,223,047
Weighted Average Cost of Funding |  | 6.54% | 5.73%
Agreements with mark-to-market collateral provisions | 0-3 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | $ 608,180 |
Agreements with mark-to-market collateral provisions | 3-6 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 646,122 |
Agreements with mark-to-market collateral provisions | 6-12 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 593,862 |
Fair Value / Carrying Value |  | $ 249,100 |
Extension period |  | 1 year |
Agreements with mark-to-market collateral provisions | Greater than 12 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | $ 249,117 |
Fair Value / Carrying Value |  | 608,200 |
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 1,692,254 | $ 2,111,647
Fair Value / Carrying Value |  | $ 1,691,769 | $ 2,111,396
Weighted Average Cost of Funding |  | 6.67% | 5.74%
Weighted Average Term To Maturity (Months) |  | 8 months 3 days | 6 months 27 days
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | Not Held at Fair Value |  |  |
Financing Agreements [Line Items] |  |  |
Fair Value / Carrying Value |  | $ 680,700 |
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | 0-3 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 203,153 |
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | 3-6 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 646,122 |
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | 6-12 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 593,862 |
Agreements with mark-to-market collateral provisions | Residential Whole Loans and REO | Greater than 12 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 249,117 |
Agreements with mark-to-market collateral provisions | Securitized debt |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 405,027 | $ 111,651
Fair Value / Carrying Value |  | $ 405,027 | $ 111,651
Weighted Average Cost of Funding |  | 5.56% | 5.47%
Weighted Average Term To Maturity (Months) |  | 1 month 3 days | 1 month 15 days
Agreements with mark-to-market collateral provisions | Securitized debt | 0-3 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | $ 405,027 |
Agreements with mark-to-market collateral provisions | Securitized debt | 3-6 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 0 |
Agreements with mark-to-market collateral provisions | Securitized debt | 6-12 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 0 |
Agreements with mark-to-market collateral provisions | Securitized debt | Greater than 12 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 0 |
Agreements with mark-to-market collateral provisions | Estimated Fair Value |  |  |
Financing Agreements [Line Items] |  |  |
Financing agreements, amortized cost |  | 680,700 | $ 578,900
Agreements with mark-to-market collateral provisions | Estimated Fair Value | Held at Fair Value |  |  |
Financing Agreements [Line Items] |  |  |
Fair Value / Carrying Value |  |  | 578,900
Agreements with Non-mark-to-market Collateral Provisions | Residential Whole Loans and REO |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 946,573 | 1,004,260
Fair Value / Carrying Value |  | $ 946,006 | $ 1,003,604
Weighted Average Cost of Funding |  | 7.31% | 6.53%
Weighted Average Term To Maturity (Months) |  | 13 months 9 days | 16 months 24 days
Agreements with Non-mark-to-market Collateral Provisions | Residential Whole Loans and REO | Held at Fair Value |  |  |
Financing Agreements [Line Items] |  |  |
Fair Value / Carrying Value |  | $ 526,600 |
Agreements with Non-mark-to-market Collateral Provisions | Residential Whole Loans and REO | 0-3 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 216,555 |
Agreements with Non-mark-to-market Collateral Provisions | Residential Whole Loans and REO | 3-6 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 361,202 |
Agreements with Non-mark-to-market Collateral Provisions | Residential Whole Loans and REO | 6-12 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 11,526 |
Agreements with Non-mark-to-market Collateral Provisions | Residential Whole Loans and REO | Greater than 12 Months |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 357,290 |
Agreements with Non-mark-to-market Collateral Provisions | Estimated Fair Value |  |  |
Financing Agreements [Line Items] |  |  |
Fair Value / Carrying Value |  |  | $ 884,500
Financing agreements, amortized cost |  | 526,600 | 884,500
Securitized debt | Residential Whole Loans and REO |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 4,009,069 | 3,586,397
Fair Value / Carrying Value |  | $ 3,830,309 | $ 3,357,590
Weighted Average Cost of Funding |  | 3.73% | 3.33%
Securitized debt | Residential Whole Loans and REO | Held at Fair Value |  |  |
Financing Agreements [Line Items] |  |  |
Fair Value / Carrying Value |  | $ 2,900,000 |
Securitized debt | Estimated Fair Value |  |  |
Financing Agreements [Line Items] |  |  |
Fair Value / Carrying Value |  |  | $ 2,400,000
Weighted Average Cost of Funding |  | 1.22% | 0.84%
Financing agreements, amortized cost |  | $ 3,100,000 | $ 2,600,000
Convertible senior notes | Unsecured |  |  |
Financing Agreements [Line Items] |  |  |
Unpaid Principal Balance |  | 229,989 | 229,989
Fair Value / Carrying Value |  | $ 228,207 | $ 227,845
Weighted Average Cost of Funding |  | 6.94% | 6.94%
Weighted Average Term To Maturity (Months) |  | 14 months 15 days | 17 months 15 days
Impact of Net Swap Carry | Unsecured |  |  |
Financing Agreements [Line Items] |  |  |
Weighted Average Cost of Funding |  | (1.22%) | (0.84%)

X
- Definition Financing Agreement, Extension Period + References No definition available. + Details
Name: | mfa_FinancingAgreementExtensionPeriod
Namespace Prefix: | mfa_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | instant

X
- Definition Financing Agreements, Amortized Cost + References No definition available. + Details
Name: | mfa_FinancingAgreementsAmortizedCost
Namespace Prefix: | mfa_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Financing Agreements, Fair Value And Carrying Value1 + References No definition available. + Details
Name: | mfa_FinancingAgreementsFairValueAndCarryingValue1
Namespace Prefix: | mfa_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition [Line Items] for Financing Agreements [Table] + References No definition available. + Details
Name: | mfa_FinancingAgreementsLineItems
Namespace Prefix: | mfa_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Financing Agreements, Unpaid Principal Balance + References No definition available. + Details
Name: | mfa_FinancingAgreementsUnpaidPrincipalBalance
Namespace Prefix: | mfa_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

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

X
- Definition Weighted average interest rate of debt outstanding. + References No definition available. + Details
Name: | us-gaap_DebtWeightedAverageInterestRate
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Ratio applied to the conversion of stock split, for example but not limited to, one share converted to two or two shares converted to one. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187143-122770 + Details
Name: | us-gaap_StockholdersEquityNoteStockSplitConversionRatio1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=mfa_A625ConvertibleSeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

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

X
- Details
Name: | mfa_AssetsSoldUnderAgreementsToRepurchaseRemainingPeriodBeforeInterestRateResetAxis=mfa_UnpaidPrincipalBalanceMaturingIn03MonthsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | mfa_AssetsSoldUnderAgreementsToRepurchaseRemainingPeriodBeforeInterestRateResetAxis=mfa_UnpaidPrincipalBalanceMaturingIn36MonthsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | mfa_AssetsSoldUnderAgreementsToRepurchaseRemainingPeriodBeforeInterestRateResetAxis=mfa_UnpaidPrincipalBalanceMaturingIn612MonthsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | mfa_AssetsSoldUnderAgreementsToRepurchaseRemainingPeriodBeforeInterestRateResetAxis=mfa_UnpaidPrincipalBalanceMaturingInGreaterThan12MonthsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=mfa_ResidentialWholeLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=mfa_NotHeldAtFairValueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementBasisAxis=us-gaap_EstimateOfFairValueFairValueDisclosureMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_MeasurementInputTypeAxis=mfa_HeldAtFairValueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

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

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

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

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_UnsecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

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