New Threads Only:  Add to Google Reader or Homepage
New Threads & Replies:  Add to Google Reader or Homepage
Forums are for serious investors only. GuruFocus Forum Rules.

Forum List » Business News and Headlines
SEC Filings, Earing Reports, Press Releases
New Topic Search
Goto Thread: PreviousNext
Goto: Forum ListMessage ListNew TopicSearchLog In
MFA Mortgage Investments Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: August 6, 2012 01:21PM

MFA Mortgage Investments Inc. (MFA) filed Quarterly Report for the period ended 2012-06-30. Mfa Financial, Inc. has a market cap of $2.9 billion; its shares were traded at around $7.81 with a P/E ratio of 8.7 and P/S ratio of 5.7. The dividend yield of Mfa Financial, Inc. stocks is 11.3%.



Highlight of Business Operations:

The Company recognized credit-related OTTI losses through earnings of approximately $280,000 and $1.2 million on Non-Agency MBS during the three and six months ended June 30, 2012, respectively. The Company recognized credit-related OTTI losses of $2.4 million through earnings during the three and six months ended June 30, 2011, all of which were recognized in connection with Non-Agency MBS during the second quarter of 2011.

The significant inputs considered and assumptions made at time of impairment in determining the measurement of the component of OTTI recognized in earnings for the Company’s Non-Agency MBS for the three and six months ended June 30, 2012 and 2011 are summarized as follows:

During the first six months of 2012, the Company sold certain Agency MBS for $71.1 million, realizing gross gains of $3.0 million; all of these sales occurred during the first quarter of 2012. The Company did not sell any MBS during the six months ended June 30, 2011.

During the second quarter of 2012, we recognized OTTI charges through earnings of $280,000 against our Non-Agency MBS compared to $2.4 million during the second quarter of 2011. These impairment charges reflected changes in our estimated cash flows for such securities based on an updated assessment of the estimated future performance of the underlying collateral, including the expected principal loss over the term of the security and changes in the expected timing of receipt of cash flows. At June 30, 2012, we had 201 Non-Agency MBS with a gross unrealized loss of $124.6 million and 51 Agency MBS with a gross unrealized loss of $2.9 million. Impairments on Agency MBS in an unrealized loss position at June 30, 2012 are considered temporary and not

During the first six months of 2012, we recognized OTTI charges through earnings of $1.2 million compared to $2.4 million during the first six months of 2011. These impairments reflected changes in our estimated cash flows for such securities based on an updated assessment of the estimated future performance of the underlying collateral, including the expected principal loss over the term of the security and changes in the expected timing of receipt of cash flows.

Read the The complete Report



Stocks Discussed: MFA,
Rate this post:




Sorry, only registered users may post in this forum.

Please Login if you have an account or Create a Free Account if you don't




Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial