MFA Financial (MFA) Q2 FY26 earnings call

MFA Financial delivered a solid second quarter, marked by significant portfolio growth and accelerated resolution of delinquent assets, particularly in the legacy multifamily book. While realized credit losses impacted distributable earnings, the company is actively redeploying capital into higher-ROE assets and seeing strong momentum in its Lima One origination platform. Management expects earnings power to become increasingly visible as credit losses normalize.