MFAO: the cash flow

Cash Flow Overview

Unit: Thousand (K) dollars

Positive Cash Flow Breakdown

Negative Cash Flow Breakdown

Cash Flow

2026-06-30

2026-03-31

2025-12-31

2025-09-30

Net income/(loss)

46,798

-984

54,319

122,464

Net (gain)/loss on residential whole loans

-32,965

-32,092

5,807

133,033

Impairment and other net (gain)/loss on securities and other portfolio investments, net

3,849

38,271

-15,715

-45,828

Net (gain)/loss on real estate owned

-1,490

-3,029

-2,677

-4,210

Accretion of purchase discounts and amortization of purchase premiums on residential whole loans and securities

-2,964

-3,151

-1,910

682

Provision/(reversal of provision) for credit losses on residential whole loans and other assets

-63

-241

-276

1,212

Net (gain)/loss on derivatives

40,079

26,767

602

-66,214

Net (gain)/loss on securitized debt measured at fair value through earnings

27,296

22,901

1,586

-43,589

Net margin received/(paid) for derivatives

-38,751

-13,485

-108

96,176

Net other non-cash (gains)/losses included in net income

26,046

7,253

7,711

59,688

(increase)/decrease in other assets

-2,320

-23,612

4,699

-9,164

Increase/(decrease) in other liabilities

41,048

1,070

-414

7,797

Net cash provided by/(used in) operating activities

128,793

71,070

37,626

38,619

Purchases and origination of residential whole loans, loan related investments and capitalized advances

730,679

675,729

658,331

2,030,362

Proceeds from sales of residential whole loans

98,565

85,791

54,628

220,293

Principal payments on residential whole loans and loan related investments

572,189

551,547

591,146

1,845,793

Purchases of securities

756,243

350,944

1,345,070

817,636

Proceeds from sales of securities and other assets

1,561

26,023

20,790

Principal payments on securities

148,716

128,077

117,731

171,918

Proceeds from sales of real estate owned

30,816

26,287

22,472

73,957

Other investing activities

51,277

-7,796

40,074

38,779

Net cash provided by/(used in) investing activities

-687,913

-225,614

-1,231,475

-554,026

Principal payments on financing agreements with mark-to-market collateral provisions

611,153

797,391

680,790

2,014,431

Proceeds from borrowings under financing agreements with mark-to-market collateral provisions

1,203,366

1,057,410

1,865,247

2,477,850

Principal payments on other collateralized financing agreements

884,907

813,830

608,191

1,293,259

Proceeds from borrowings under other collateralized financing agreements

807,400

797,120

519,624

1,461,303

Payments made for other collateralized financing agreement related costs

5,164

2,953

2,853

8,039

Redemption and repurchase of convertible senior notes

Proceeds from issuance of senior notes

Payments made for settlements and unwinds of swaps

-536

6,759

1,258

26,020

Proceeds from issuance of preferred stock, net of expenses

1,832

3,427

4,779

4,532

Payments made for costs related to preferred stock issuance

Proceeds from issuances of common stock, net of expenses

-9

-10

-7

-61

Payments made for the repurchase of common stock

5,126

9,033

5,047

10,266

Dividends paid on preferred stock

10,559

10,424

10,704

29,613

Dividends paid on common stock and dividend equivalents

37,685

38,870

37,326

110,858

Net cash provided by/(used in) financing activities

458,531

178,687

1,043,548

451,064

Net increase/(decrease) in cash, cash equivalents and restricted cash

-100,589

24,143

-150,301

-64,343

Cash, cash equivalents and restricted cash at beginning of period

410,811

386,668

536,969

601,312

Cash, cash equivalents and restricted cash at end of period

310,222

410,811

386,668

536,969

Cash paid for interest

268,255

Transfer from residential whole loans to real estate owned

46,988

Dividends and dividend equivalents declared and unpaid

37,570

Time Plot

Show the time plot by selecting a row from the table.

Cash Flow Overview

Unit: Thousand (K) dollars

Positive Cash Flow Breakdown

Negative Cash Flow Breakdown

Cash Flow

2026-06-30

2026-03-31

2025-12-31

2025-09-30

Net income/(loss)

46,798

-984

54,319

122,464

Net (gain)/loss on residential whole loans

-32,965

-32,092

5,807

133,033

Impairment and other net (gain)/loss on securities and other portfolio investments, net

3,849

38,271

-15,715

-45,828

Net (gain)/loss on real estate owned

-1,490

-3,029

-2,677

-4,210

Accretion of purchase discounts and amortization of purchase premiums on residential whole loans and securities

-2,964

-3,151

-1,910

682

Provision/(reversal of provision) for credit losses on residential whole loans and other assets

-63

-241

-276

1,212

Net (gain)/loss on derivatives

40,079

26,767

602

-66,214

Net (gain)/loss on securitized debt measured at fair value through earnings

27,296

22,901

1,586

-43,589

Net margin received/(paid) for derivatives

-38,751

-13,485

-108

96,176

Net other non-cash (gains)/losses included in net income

26,046

7,253

7,711

59,688

(increase)/decrease in other assets

-2,320

-23,612

4,699

-9,164

Increase/(decrease) in other liabilities

41,048

1,070

-414

7,797

Net cash provided by/(used in) operating activities

128,793

71,070

37,626

38,619

Purchases and origination of residential whole loans, loan related investments and capitalized advances

730,679

675,729

658,331

2,030,362

Proceeds from sales of residential whole loans

98,565

85,791

54,628

220,293

Principal payments on residential whole loans and loan related investments

572,189

551,547

591,146

1,845,793

Purchases of securities

756,243

350,944

1,345,070

817,636

Proceeds from sales of securities and other assets

1,561

26,023

20,790

Principal payments on securities

148,716

128,077

117,731

171,918

Proceeds from sales of real estate owned

30,816

26,287

22,472

73,957

Other investing activities

51,277

-7,796

40,074

38,779

Net cash provided by/(used in) investing activities

-687,913

-225,614

-1,231,475

-554,026

Principal payments on financing agreements with mark-to-market collateral provisions

611,153

797,391

680,790

2,014,431

Proceeds from borrowings under financing agreements with mark-to-market collateral provisions

1,203,366

1,057,410

1,865,247

2,477,850

Principal payments on other collateralized financing agreements

884,907

813,830

608,191

1,293,259

Proceeds from borrowings under other collateralized financing agreements

807,400

797,120

519,624

1,461,303

Payments made for other collateralized financing agreement related costs

5,164

2,953

2,853

8,039

Redemption and repurchase of convertible senior notes

Proceeds from issuance of senior notes

Payments made for settlements and unwinds of swaps

-536

6,759

1,258

26,020

Proceeds from issuance of preferred stock, net of expenses

1,832

3,427

4,779

4,532

Payments made for costs related to preferred stock issuance

Proceeds from issuances of common stock, net of expenses

-9

-10

-7

-61

Payments made for the repurchase of common stock

5,126

9,033

5,047

10,266

Dividends paid on preferred stock

10,559

10,424

10,704

29,613

Dividends paid on common stock and dividend equivalents

37,685

38,870

37,326

110,858

Net cash provided by/(used in) financing activities

458,531

178,687

1,043,548

451,064

Net increase/(decrease) in cash, cash equivalents and restricted cash

-100,589

24,143

-150,301

-64,343

Cash, cash equivalents and restricted cash at beginning of period

410,811

386,668

536,969

601,312

Cash, cash equivalents and restricted cash at end of period

310,222

410,811

386,668

536,969

Cash paid for interest

268,255

Transfer from residential whole loans to real estate owned

46,988

Dividends and dividend equivalents declared and unpaid

37,570

Time Plot

Show the time plot by selecting a row from the table.