XML 85 R74.htm IDEA: XBRL DOCUMENT v3.25.1

Financing Agreements - Financing Agreements (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024	Apr. 17, 2024	Jan. 31, 2024
Financing Agreements [Line Items]
Unpaid Principal Balance	$ 9,449,193	$ 9,259,637
Fair Value / Carrying Value	$ 9,367,218	$ 9,155,461
Weighted Average Cost of Funding (in Percent)	4.68%	4.47%
Secured debt | Estimated Fair Value
Financing Agreements [Line Items]
Fair Value / Carrying Value		$ 5,200,000
Weighted Average Cost of Funding (in Percent)	(0.66%)	(1.07%)
Financing agreements, amortized cost	$ 5,300,000	$ 5,300,000
Senior notes | 8.875% Senior Notes due 2029
Financing Agreements [Line Items]
Stated interest rate (as a percent)	8.875%	8.875%		8.875%
Unpaid Principal Balance	$ 115,000	$ 115,000
Fair Value / Carrying Value	$ 111,456	$ 111,270
Weighted Average Cost of Funding (in Percent)	9.83%	9.83%
Weighted Average Term to Maturity (Months)	46 months 18 days	49 months 15 days
Weighted Average Months to Maturity	4 months 18 days
Senior notes | 9.00% Senior Notes due 2029
Financing Agreements [Line Items]
Stated interest rate (as a percent)	9.00%	9.00%	9.00%
Unpaid Principal Balance	$ 75,000	$ 75,000
Fair Value / Carrying Value	$ 72,503	$ 72,390
Weighted Average Cost of Funding (in Percent)	9.94%	9.94%
Weighted Average Term to Maturity (Months)	52 months 15 days	55 months 15 days
Weighted Average Months to Maturity	2 months 15 days
Residential whole loans | Secured debt
Financing Agreements [Line Items]
Unpaid Principal Balance	$ 5,948,579	$ 5,891,815
Fair Value / Carrying Value	$ 5,873,718	$ 5,794,977
Weighted Average Cost of Funding (in Percent)	5.03%	4.98%
Residential whole loans | Secured debt | Held at Fair Value
Financing Agreements [Line Items]
Fair Value / Carrying Value	$ 5,300,000
Agreements with mark-to-market collateral provisions
Financing Agreements [Line Items]
Unpaid Principal Balance	2,893,333	$ 2,600,591
Fair Value / Carrying Value	$ 2,892,584	$ 2,600,050
Weighted Average Cost of Funding (in Percent)	5.43%	6.01%
Agreements with mark-to-market collateral provisions | 0-3 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	$ 1,998,302
Agreements with mark-to-market collateral provisions | 3-6 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	324,785
Agreements with mark-to-market collateral provisions | 6-12 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	259,822
Fair Value / Carrying Value	$ 310,400
Extension period	1 year
Agreements with mark-to-market collateral provisions | 6-12 Months | Maximum
Financing Agreements [Line Items]
Extension period	20 months
Agreements with mark-to-market collateral provisions | Greater than 12 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	$ 310,424
Fair Value / Carrying Value	1,900,000
Agreements with mark-to-market collateral provisions | Estimated Fair Value
Financing Agreements [Line Items]
Financing agreements, amortized cost	11,500	$ 284,800
Agreements with mark-to-market collateral provisions | Estimated Fair Value | Held at Fair Value
Financing Agreements [Line Items]
Fair Value / Carrying Value		284,800
Agreements with mark-to-market collateral provisions | Residential whole loans
Financing Agreements [Line Items]
Unpaid Principal Balance	1,348,855	1,321,584
Fair Value / Carrying Value	$ 1,348,106	$ 1,321,043
Weighted Average Cost of Funding (in Percent)	6.33%	6.72%
Weighted Average Term to Maturity (Months)	7 months 6 days	7 months 27 days
Agreements with mark-to-market collateral provisions | Residential whole loans | 0-3 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	$ 453,824
Agreements with mark-to-market collateral provisions | Residential whole loans | 3-6 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	324,785
Agreements with mark-to-market collateral provisions | Residential whole loans | 6-12 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	259,822
Agreements with mark-to-market collateral provisions | Residential whole loans | Greater than 12 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	310,424
Agreements with mark-to-market collateral provisions | Residential whole loans | Not Held at Fair Value
Financing Agreements [Line Items]
Fair Value / Carrying Value	11,500
Agreements with mark-to-market collateral provisions | Securities
Financing Agreements [Line Items]
Unpaid Principal Balance	1,544,478	$ 1,279,007
Fair Value / Carrying Value	$ 1,544,478	$ 1,279,007
Weighted Average Cost of Funding (in Percent)	4.58%	5.02%
Weighted Average Term to Maturity (Months)	9 days	6 days
Agreements with mark-to-market collateral provisions | Securities | 0-3 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	$ 1,544,478
Agreements with mark-to-market collateral provisions | Securities | 3-6 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	0
Agreements with mark-to-market collateral provisions | Securities | 6-12 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	0
Agreements with mark-to-market collateral provisions | Securities | Greater than 12 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	0
Agreements with non-mark-to-market collateral provisions | Estimated Fair Value
Financing Agreements [Line Items]
Fair Value / Carrying Value		$ 19,800
Financing agreements, amortized cost	184,400	19,800
Agreements with non-mark-to-market collateral provisions | Residential whole loans
Financing Agreements [Line Items]
Unpaid Principal Balance	417,281	577,231
Fair Value / Carrying Value	$ 416,957	$ 576,774
Weighted Average Cost of Funding (in Percent)	6.87%	7.31%
Weighted Average Term to Maturity (Months)	7 months 15 days	10 months 12 days
Agreements with non-mark-to-market collateral provisions | Residential whole loans | 0-3 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	$ 24,400
Agreements with non-mark-to-market collateral provisions | Residential whole loans | 3-6 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	161,459
Agreements with non-mark-to-market collateral provisions | Residential whole loans | 6-12 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	215,641
Agreements with non-mark-to-market collateral provisions | Residential whole loans | Greater than 12 Months
Financing Agreements [Line Items]
Unpaid Principal Balance	15,781
Agreements with non-mark-to-market collateral provisions | Residential whole loans | Held at Fair Value
Financing Agreements [Line Items]
Fair Value / Carrying Value	$ 184,400
Impact of net Swap carry
Financing Agreements [Line Items]
Weighted Average Cost of Funding (in Percent)	(0.66%)	(1.07%)

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 Value

+ References

No definition available.

+ Details

Name:	mfa_FinancingAgreementsFairValueAndCarryingValue
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:	debit
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

Contractual interest rate for funds borrowed, under the debt agreement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

+ Details

Name:	us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:percentItemType
Balance Type:	na
Period Type:	instant

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

Weighted average maturity (weighted by amount of the agreement) of repurchase agreements with the counterparty, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481420/860-30-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(m)(1)(iii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Name:	us-gaap_RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1
Namespace Prefix:	us-gaap_
Data Type:	xbrli:durationItemType
Balance Type:	na
Period Type:	duration

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_LongtermDebtTypeAxis=us-gaap_SeniorNotesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=mfa_A8.875SeniorNotesDue2029Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_DebtInstrumentAxis=mfa_A9.00SeniorNotesDue2029Member
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_CollateralAxis=mfa_ResidentialWholeLoanMember
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_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:	srt_RangeAxis=srt_MaximumMember
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_MeasurementInputTypeAxis=mfa_NotHeldAtFairValueMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_CollateralAxis=mfa_SecuritiesMember
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=mfa_ImpactOfNetSwapCarryMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: