11-K 1 mfa-12312020x11k.htm 11-K MFA FINANCIAL, INC. 12.31.2020 Document



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 
_____________________________________________ 
FORM 11-K

(Mark One) 
x    ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the fiscal year ended December 31, 2020

or
 

o    TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 

For the transition period from                              to                             
 

Commission File Number: 1-13991
 


A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

MFA FINANCIAL, INC. 401(k) SAVINGS PLAN


B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

MFA FINANCIAL, INC.
One Vanderbilt Ave., 48th Floor
New York, New York 10017





MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Financial Statements and Supplemental Schedule
(Unaudited)




TABLE OF CONTENTS

                                                







* Other supplemental schedules required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974, as amended, have been omitted because they are not applicable or not required.

MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
(Unaudited)

December 31,
20202019
Assets
Investments at fair value:
Investments, at fair value$14,884,950 $11,217,931 
Cash equivalents including money market funds1,279,570 1,050,284 
Total Investments at fair value$16,164,520 $12,268,215 
Receivables:
Employer’s contributions$464,925 $462,231 
Notes receivable from participant loans185,146 170,373 
Total Receivables$650,071 $632,604 
Total Assets$16,814,591 $12,900,819 
Net Assets Available for Benefits$16,814,591 $12,900,819 


See accompanying notes to the financial statements.
1
MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
(Unaudited)

For the year ended December 31, 2020
Additions to net assets:
Investment Income:
Interest and dividends$524,267 
Net appreciation in fair value of investments2,349,241 
Total investment income2,873,508 
Contributions:
Participant’s Contributions$836,334 
Employer’s Contributions464,925 
Rollovers1,366 
Total contributions1,302,625 
Interest on notes receivable from participants$7,382 
Total additions to net assets$4,183,515 
Deductions from net assets:
Benefits distributed to participants$265,519 
Administrative expenses4,224 
Total deductions from net assets$269,743 
Increase in net assets available for plan benefits$3,913,772 
Net assets available for benefits:
Beginning of year12,900,819 
End of year$16,814,591 


See accompanying notes to the financial statements.

2
MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Notes to the Unaudited Financial Statements
December 31, 2020


1. Description of the Plan

The following description of the MFA Financial, Inc. 401(k) Savings Plan (the “Plan”) provides only general information. Participants should refer to the Plan documents for a more complete description of the Plan’s provisions, a copy of which is available from MFA Financial, Inc. (the “Company”).

General

The Plan, which became effective January 1, 2002, is a defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Plan is administered by the Company’s 401(k) committee (the “401(k) Committee”) with certain administrative functions of the Plan delegated to others in accordance with the terms of the Plan. The Plan’s investments are held by a trust fund administered by Fidelity Management Trust Company (the “Trustee”). In February 2017, the Company transferred the recordkeeping, trustee services and investment options for the Plan to the Trustee. Prior to that date, the Plan’s investments were self-directed and were held in a trust for which Morgan Stanley Smith Barney, LLC served as trustee.

Investment Funds, Contributions and Vesting

Under the terms of the Plan, all regular full-time and part-time employees of the Company who are 21 years of age 1) can make elective contributions to the Plan beginning as soon as practicable after the date of hire; and 2) are eligible to receive Company matching contributions.

Participants may elect to have a portion of their eligible compensation contributed to the Plan on a before-tax basis, up to the maximum deferral permitted under the Internal Revenue Code of 1986, as amended (the “Code”). For 2020, this limit was $19,500. Participants who are age 50 or older can make before-tax catch-up contributions to the Plan, the amount of which was limited to $6,500 per participant in 2020. Participants may change their deferral percentage as applicable at the beginning of each payroll period. Participant’s contributions may be invested in one or a combination of the various investment options offered by the Plan. A participant’s account balance may generally be transferred among the Plan’s investment options at any time upon receipt of instructions from the participant, except for certain limitations, including, but not limited to, the provisions of the Company’s Insider Trading Policy.

On an annual basis, the Company makes matching contributions in cash for each eligible participant in an amount equal to the addition of 1) 100% of the first 3% of an eligible participant’s compensation contributed to the Plan; and 2) 50% of the next 2% of the eligible participant’s compensation contributed to the Plan. Company matching contributions are subject to certain limitations imposed by applicable provisions of the Plan and the Code, including compliance with applicable statutory limits and non-discrimination rules. For 2020, the annual maximum employer matching contribution for each eligible participant was $11,400. Participants are immediately vested in their before-tax and Company matching contributions, as well as any investment earnings/losses thereon. During 2020, the Company made matching contributions of $462,231 with respect to eligible employee contributions made during 2019. In addition, on an annual basis, the Company at its discretion, may decide to make nonelective employer contributions to eligible participants in the Plan. The Plan provides that such contributions by the Company will vest 20% after two years of service with an additional 20% vesting for each year of service thereafter until the sixth year, at which time such contributions are fully vested. The nonelective employer contributions are automatically fully vested upon a participant’s termination due to retirement, death or disability, as defined in the Plan. The Company has not made any non-elective employer contributions during 2019 and 2020.

Participants are permitted to transfer eligible amounts from certain other tax qualified plans to the Plan (“Rollovers”), subject to Plan requirements. Rollovers are not subject to Company matching contributions.

The Plan provides for multiple investment options to be made available through the Trustee, including core investment options as determined by the 401(k) Committee, a group of target date options, an advisory asset management service and a self-directed brokerage option. In addition, the Plan document provides that the Company’s equity securities be offered as a core investment option, subject to compliance with ERISA. Contributions or Rollovers related to the Company’s common or preferred stock are also subject to the Company’s Insider Trading Policy. See Note 3 for Investment Options under the Plan.

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MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Notes to the Unaudited Financial Statements
December 31, 2020

Notes Receivable from Participants (Loans)

The Plan includes a provision that allows participants to apply for a loan from their account balance for a minimum amount of $1,000 up to the lesser of 50% of the value of the vested portion of their Plan assets or $50,000, subject to the certain restrictions set forth in the Plan and the Code. The loans may be repaid through payroll deductions and may have loan terms ranging up to five years, or ten years if for the purchase of a primary residence. A participant may have only two loans outstanding at a time. The loans are secured by the balance in the participant’s account and bear interest at a fixed rate throughout the duration the loan of prime plus one percentage point. At December 31, 2020, loans outstanding to participants had interest rates ranging from 4.25% to 6.50% and will mature at various dates through January, 2031.

Distributions and Withdrawals

Participants are permitted to withdraw any portion of their vested account balance due to death, permanent disability, retirement, attainment of age 59-½, or in the event of financial hardship or termination of service. The participant may elect to receive a lump sum payment, installment payments, or rollover the vested account balance to another qualified plan. Hardship withdrawals are allowed for participants incurring an “immediate and heavy financial need,” as defined by the Plan. Hardship withdrawals are strictly regulated under the Code and the regulations thereunder, and a participant must exhaust all available loan options and available distributions prior to being permitted to make a hardship withdrawal.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law.  Among other provisions, this wide-ranging law permits qualified individuals impacted by coronavirus or COVID-19 to take a distribution of up to $100,000 from all eligible retirement plans and IRAs, beginning on or after January 1, 2020 and before December 31, 2020.

Administrative Expenses

Plan administrative expenses, to the extent not paid by the Company, are charged to and paid from the Plan’s assets as incurred.

2. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“GAAP”).

Use of Estimates

The preparation of financial statements in conformity with GAAP requires the Plan’s management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes and schedule thereto. Actual results could differ from those estimates.

Cash Equivalents Including Money Market Funds

Participant investments in money market funds, whose underlying investments are assessed to be liquid financial instruments are considered to be cash equivalents.

Valuation of Investments and Investment Income

Investments held by the Plan are stated at estimated fair value. Equity securities are valued at the closing price reported on the market on which the individual securities are traded on the last business day of the Plan year. Investments in mutual funds are valued at the net asset value of units held by the Plan as reported by the mutual fund on the last business day of the Plan year. Other investments are valued using available information including information reported on the market on which such investments are traded, net asset value of the entity that issued the investment security or other information as deemed appropriate to use to estimate fair value.

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MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Notes to the Unaudited Financial Statements
December 31, 2020

The net appreciation or depreciation in the fair value of investments, which includes any unrealized appreciation or depreciation on those investments plus realized gains or losses on any investments sold, are reported in Investment Income on the Plan’s Statement of Changes in Net Assets Available for Benefits. Interest and dividend income is recorded when received.

Distributions to Participants

Distributions to participants are recorded when paid by the Plan.

Notes Receivable from Participants

Notes receivable from participants (loans) are funded directly from the participants account balance. Repayments of principal and interest related to the loan are credited to the participant’s account on a pro-rata basis in accordance with their selected investment options.

3. Investment Options

The Plan provides participants with various investment options, which are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investments, it is at least reasonably possible that changes in the values of a participant’s investments could occur in the near term and that such changes could materially affect the account balances and the amounts reported in the Statements of Net Assets Available for Benefits.

In addition to the self-directed brokerage account option, set out below are the investment options made available under the Plan as of December 31, 2020:

Name of FundName of Fund
Fidelity 500 Index FundFidelity Freedom 2065 Fund
Fidelity Blue Chip Growth FundFidelity Freedom Income Fund
Fidelity Emerging Markets FundFidelity Global ex U.S. Index Fund
Fidelity Extended Market Index FundFidelity Government Money Market Fund
Fidelity Freedom 2005 FundFidelity Overseas Fund
Fidelity Freedom 2010 FundFidelity Small Cap Growth Fund
Fidelity Freedom 2015 FundFidelity Total Bond Fund
Fidelity Freedom 2020 FundFidelity U.S. Bond Index Fund
Fidelity Freedom 2025 FundFidelity Value Fund
Fidelity Freedom 2030 FundGoldman Sachs Inflation Protected Securities Fund Investor Shares
Fidelity Freedom 2035 FundInvesco Diversified Dividend Fund R5 Class
Fidelity Freedom 2040 FundJanus Henderson Enterprise Fund Class T
Fidelity Freedom 2045 FundMassMutual Premier Small Cap Opportunities Fund Administrative Class
Fidelity Freedom 2050 FundMFA Financial, Inc. Common Stock
Fidelity Freedom 2055 FundMFA Financial, Inc. Preferred Stock
Fidelity Freedom 2060 FundWells Fargo Special Small Cap Value Fund - Class Admin


4. Party-in-Interest Transactions

The Trustee and the Company are parties-in-interest with respect to the Plan. The Plan’s investments are held by the Trustee, and certain of the investment options available to participants include investments managed by the Trustee and its affiliates. Transactions between the Plan, and the Trustee and its affiliates, are exempt from the prohibited transactions rules under ERISA. As of December 31, 2020, participants in the Plan held 117,934 shares of MFA Financial, Inc. Common Stock valued at $459,812 and 6,784 shares of MFA Financial, Inc. 7.50% Series B Cumulative Redeemable Preferred Stock valued at
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MFA FINANCIAL, INC. 401(K) SAVINGS PLAN
Notes to the Unaudited Financial Statements
December 31, 2020

$165,150. Notes Receivable from Participants, as discussed in Note 1 (Description of the Plan), are also considered to be party-in-interest transactions and totaled $185,146 at December 31, 2020.

5. Plan Termination

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. Each participant’s interest in the Plan is 100% vested at all times, including the portion attributable to Company matching contributions. In the event of Plan termination, any unvested nonelective employer contributions will become 100% vested and the Plan assets will be distributed in accordance with the Plan document.

6. Tax Status

The Plan has received a determination letter from the Internal Revenue Service (“IRS”) dated March 31, 2014, stating that the Plan is qualified under section 401(a) of the Code, and therefore, the related trust is exempt from taxation.

7. Subsequent Events

The Company has evaluated whether events or transactions have occurred after December 31, 2020 that would require recognition or disclosure in these financial statements through June 23, 2021, which is the date these financial statements were available to be issued. No such transactions required recognition or disclosure in these financial statements.




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MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2020
(Unaudited)


Identity of Issue, Borrower, Lessor or Similar PartyDescription of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value		Current Value
Tesla, Inc. Common Stock, shares: 2,104$1,484,730 
*MFA Financial, Inc. Common Stock Common Stock, shares: 117,934459,812 
Apple Inc. Common Stock, shares: 2,062273,652 
Facebook, Inc. Common Stock, shares: 945258,136 
Amazon.com, Inc. Common Stock, shares: 75 244,270 
Square, Inc. Common Stock, shares: 615 133,849 
Penn National Gaming, Inc. Common Stock, shares: 1,500 129,555 
Cloudflare, Inc. Common Stock, shares: 1,500 113,985 
Cree, Inc. Common Stock, shares: 1,000 105,900 
Snowflake Inc. Common Stock, shares: 350 98,490 
Duck Creek Technologies Common Stock, shares: 2,000 86,600 
Verizon Communications Inc. Common Stock, shares: 1,350 79,316 
Royal Bank of Canada Common Stock, shares: 897 73,652 
Spotify Technology S.A. Common Stock, shares: 200 62,932 
Alibaba Group Holding Limited Common Stock, shares: 220 51,201 
PepsiCo, Inc. Common Stock, shares: 335 49,758 
Shift4 Payments Common Stock, shares: 639 48,181 
Annaly Capital Management Inc. Common Stock, shares: 4,757 40,202 
The Walt Disney Company Common Stock, shares: 208 37,809 
Microsoft Corporation Common Stock, shares: 150 33,493 
Deere & Company Common Stock, shares: 107 28,799 
Fannie Mae Common Stock, shares: 12,000 28,680 
Mitek Systems, Inc Common Stock, shares: 1,587 28,217 
Alexander’s Inc. Common Stock, shares: 100 27,735 
Advanced Micro Devices, Inc. Common Stock, shares: 262 24,028 
Callaway Golf Company Common Stock, shares: 1,000 24,010 
Owens Corning Common Stock, shares: 300 22,728 
Walmart Inc. Common Stock, shares: 157 22,723 
Union Pacific Corporation Common Stock, shares: 108 22,594 
Qualcomm Common Stock, shares: 133 20,342 
Royal Caribbean Cruises Ltd. Common Stock, shares: 261 19,494 
Redfin Common Stock, shares: 269 18,461 
HDFC Bank Limited Common Stock, shares: 250 18,065 
Fastly Common Stock, shares: 155 13,542 
Target Corporation Common Stock, shares: 75 13,240 
Ellington Residential Mortgage Common Stock, shares: 1,000 13,040 
Netflix, Inc. Common Stock, shares: 24 12,978 
Liberty Global Common Stock, shares: 500 11,825 
Apollo Commercial Real Estate Common Stock, shares: 988 11,036 
7
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2020
(Unaudited)


Identity of Issue, Borrower, Lessor or Similar PartyDescription of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value		Current Value
Twitter Common Stock, shares: 200 10,830 
Fulgent Genetics Common Stock, shares: 199 10,368 
Dupont de Nemours, Inc. Common Stock, shares: 120 8,533 
New York Mortgage Trust Inc. Common Stock, shares: 2,195 8,100 
Joyy, Inc. Common Stock, shares: 100 7,998 
Shopify Inc. Common Stock, shares: 7 7,924 
FedEx Corporation Common Stock, shares: 30 7,901 
Green Dot Corporation Common Stock, shares: 139 7,756 
Wix.com Ltd Common Stock, shares: 30 7,499 
NeoPhotonics Corporation Common Stock, shares: 800 7,272 
Dow Inc. Common Stock, shares: 120 6,660 
DraftKings Common Stock, shares: 140 6,518 
Rocket Companies Common Stock, shares: 309 6,248 
AGNC Investment Corporation Common Stock, shares: 360 5,616 
The Boeing Company Common Stock, shares: 25 5,352 
Alphabet Inc. Class A Common Stock, shares: 3 5,258 
Alphabet Inc. Class C Common Stock, shares: 3 5,256 
DXC Technology Common Stock, shares: 200 5,150 
Exxon Mobil Corporation Common Stock, shares: 118 4,903 
Hudson Pacific Properties Common Stock, shares: 202 4,854 
Live Oak Bancshares, Inc. Common Stock, shares: 100 4,749 
Corteva, Inc. Common Stock, shares: 120 4,646 
Axos Financial Common Stock, shares: 123 4,616 
AG Mortgage Investment Trust Common Stock, shares: 1,530 4,514 
Kohls Corp Nfs Llc Is A Special Common Stock, shares: 107 4,355 
Carnival Corporation & plc. Common Stock, shares: 200 4,332 
Chimera Investment Corporation Common Stock, shares: 400 4,100 
CenturyLink, Inc. Common Stock, shares: 417 4,066 
Occidental Petroleum Corporation Common Stock, shares: 219 3,808 
Two Harbors Investment Corp Common Stock, shares: 596 3,797 
ExOne Co. Common Stock, shares: 400 3,796 
PennyMac Mortgage Investment Trust Common Stock, shares: 215 3,782 
IBM Common Stock, shares: 30 3,776 
Colony Capital Inc. Common Stock, shares: 725 3,487 
Cabot Oil & Gas Corporation Common Stock, shares: 205 3,351 
New Residential Investment Corp Common Stock, shares: 335 3,330 
Citigroup Inc. Common Stock, shares: 53 3,295 
Apache Corporation Common Stock, shares: 217 3,086 
Norwegian Cruise Line Holdings Common Stock, shares: 100 2,543 
8
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2020
(Unaudited)


Identity of Issue, Borrower, Lessor or Similar PartyDescription of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value		Current Value
Panasonic Corporation Common Stock, shares: 200 2,306 
Invesco Mortgage Capital Common Stock, shares: 499 1,687 
Virgin Galactic Common Stock, shares: 58 1,376 
Cherry Hill Mortgage Investment Common Stock, shares: 117 1,069 
Transocean Ltd. Common Stock, shares: 392 906 
Boston Omaha Corporation Common Stock, shares: 23 636 
Arlington Asset Investment Corp. Common Stock, shares: 125 473 
Blackstone Group Inc. Common Stock, shares: 6 389 
Capitala Finance Corporation Common Stock, shares: 6 85 
Drive Shack Common Stock, shares: 27 63 
Impac Mortgage Holdings, Inc. Common Stock, shares: 10 29 
Seadrill Common Stock, shares: 3 1 
Frontier Communications Corporation Common Stock, shares: 6 1 
Sub-Total$4,469,506 
Chimera Investment Corp Series A Preferred Stock, shares: 8,027 193,451 
*MFA Financial, Inc. Preferred Stock Series B Preferred Stock, shares: 6,784165,150 
Two Harbors Investment Corp Series A Preferred Stock, shares: 3,000 74,700 
Two Harbors Investment Corp Series E Preferred Stock, shares: 3,000 72,000 
Chimera Investment Corp Series B Preferred Stock, shares: 3,000 68,370 
New York Mortgage Trust Series E Preferred Stock, shares: 3,000 66,390 
Pennymac Mortgage Investment Preferred Stock, shares: 2,000 50,500 
AG Mortgage Investment Trust Preferred Stock, shares: 2,000 39,880 
Dynex Capital Inc. Preferred Stock, shares: 1,242 31,361 
New York Mortgage Trust Series D Preferred Stock, shares: 1,000 22,730 
Chimera Investment Corp Series D Preferred Stock, shares: 1,000 22,170 
Two Harbors Investment Corp Series D Preferred Stock, shares: 641 15,615 
Sub-Total$822,317 
*Fidelity 500 Index FundMutual Funds1,047,407 
*Fidelity Freedom 2030 FundMutual Funds1,038,752 
*Fidelity Freedom 2040 FundMutual Funds786,844 
*Fidelity Freedom 2045 FundMutual Funds654,736 
*Fidelity Freedom 2050 FundMutual Funds574,160 
*Fidelity Blue Chip Growth FundMutual Funds510,332 
American - The Growth Fund of America Class FMutual Funds398,962 
American New Perspective Fund Class FMutual Funds384,739 
*Fidelity Freedom 2020 FundMutual Funds378,618 
American Funds EuroPacific Growth Class FMutual Funds340,964 
*Fidelity Freedom 2055 FundMutual Funds244,053 
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MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2020
(Unaudited)


Identity of Issue, Borrower, Lessor or Similar PartyDescription of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value		Current Value
*Fidelity ContrafundMutual Funds242,671 
*Fidelity Small Cap Growth FundMutual Funds233,300 
Allianz Occ Renaissance Cl AMutual Funds187,560 
*Fidelity Freedom 2060 FundMutual Funds177,299 
*Fidelity Total Bond FundMutual Funds126,169 
*Fidelity Real Estate Income FundMutual Funds121,245 
*Fidelity Emerging Markets FundMutual Funds118,642 
*Fidelity Freedom 2035 FundMutual Funds107,825 
Smead Value FundMutual Funds104,952 
*Fidelity U.S. Bond Index FundMutual Funds98,497 
*Fidelity Extended Market Index FundMutual Funds84,006 
*Fidelity Value FundMutual Funds67,482 
*Fidelity Mid Cap Growth Index FundMutual Funds59,320 
*Fidelity Aggressive InternationalMutual Funds57,146 
*Fidelity Low Priced StockMutual Funds56,418 
*Fidelity Freedom 2025 FundMutual Funds50,905 
*Fidelity Overseas FundMutual Funds48,478 
Invesco Equally-Weighted S&P 500Mutual Funds43,676 
*Janus Henderson Enterprise Fund Class TMutual Funds41,744 
*Fidelity Global ex U.S. Index FundMutual Funds37,494 
American - The Growth Fund of America Class AMutual Funds29,391 
*Fidelity Southeast AsiaMutual Funds27,419 
*Fidelity Freedom 2015 FundMutual Funds27,055 
*Goldman Sachs Inflation Protected Securities Fund Investor SharesMutual Funds26,651 
American New Perspective Fund Class AMutual Funds25,660 
*Wells Fargo Special Small Cap Value Fund - Class AdminMutual Funds25,491 
*Invesco Diversified Dividend Fund R5 ClassMutual Funds23,907 
American Funds EuroPacific Growth Class AMutual Funds18,820 
*MassMutual Premier Small Cap Opportunities Fund Administrative ClassMutual Funds13,806 
Matthews Asian Technology FundMutual Funds11,079 
Morgan Stan Institutional Tr Mid-Cap Growth Adv ClMutual Funds10,509 
*Fidelity Select Medical Equipment & SystemMutual Funds10,373 
Baron Discovery Fund Institutional SharesMutual Funds10,320 
Virtus Kar Mid Cap Growth Fund Cl IMutual Funds10,041 
Baron Global Advantage Fund Retail Mutual Funds7,957 
*Fidelity Total International Index Fund Institutional PremMutual Funds6,548 
Artisan Developing World Fund Investor ClMutual Funds5,653 
Columbia Small Cap Growth Fund I Cl AMutual Funds5,022 
10
MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2020
(Unaudited)


Identity of Issue, Borrower, Lessor or Similar PartyDescription of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value		Current Value
Morgan Stanley Global Advantage AMutual Funds2,737 
*Fidelity Select TechnologyMutual Funds2,664 
*Fidelity Select Software & ComputerMutual Funds2,641 
Morgan Stanley Inst US Large Cap Growth PortfolioMutual Funds2,626 
Morgan Stanley Global Opportunity AMutual Funds2,590 
*Fidelity Freedom Income FundMutual Funds135 
JPMorgan Income Builder FundMutual Funds22 
Sub-Total$8,733,513 
SPDR S&P 500 ETF TrustOther Investments172,053 
SPDR Portfolio Total Stock MarketOther Investments168,309 
WisdomTree India Earnings FundOther Investments125,603 
Vanguard Extended Market ETFOther Investments82,340 
Vanguard S&P 500 ETFOther Investments77,330 
iShares MSCI India Small-Cap ETFOther Investments53,323 
SPDR Dow Jones Industrial Average ETFOther Investments30,579 
iShares MSCI India ETFOther Investments20,811 
iShares Global Energy ETFOther Investments20,310 
The Energy Select Sector SPDR FundOther Investments17,434 
Global X Robotics & Artificial Intelligence ETFOther Investments16,568 
VanEck Vectors Semiconductor ETFOther Investments10,921 
VanEck Vectors Vietnam ETFOther Investments10,494 
iShares S&P 500 ETFOther Investments10,351 
VanEck Vectors Oil Services ETFOther Investments7,700 
SPDR S&P Semiconductor ETFOther Investments7,685 
ARK Genomic Revolution ETFOther Investments6,062 
Invesco DWA Healthcare Momentum ETFOther Investments5,602 
Vanguard Energy ETFOther Investments5,186 
iPath S&P GSCI Crude Oil Total Return Index ETNOther Investments3,350 
ARK Innovation ETFOther Investments2,490 
ARK Next Generation Internet ETFOther Investments2,195 
ARK Fintech Innovation ETFOther Investments1,988 
iShares MSCI Mexico ETFOther Investments747 
Occidental Petroleum Corporation - WRTSOther Investments183 
Sub-Total$859,614 
*Fidelity Cash ReservesCash and cash equivalents886,848 
*Fidelity Government Money Market FundCash and cash equivalents392,722 
Sub-Total$1,279,570 
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MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
Schedule of Assets Held For Investment Purposes
December 31, 2020
(Unaudited)


Identity of Issue, Borrower, Lessor or Similar PartyDescription of
Investment Including
Maturity Date, Rate
of Interest, Collateral,
Par or Maturity Value		Current Value
* Participant LoansInterest Rate 4.25% - 6.50%
Maturity Dates through January, 2031		$185,146 
Grand Total$16,349,666 
* Indicates party-in-interest to the Plan.
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SIGNATURE

 
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the MFA Financial, Inc. 401(k) Savings Plan) have duly caused this annual report to be signed on its behalf by the undersigned, hereunto duly authorized.
 
Date: June 23, 2021MFA FINANCIAL, INC. 401(k) SAVINGS PLAN
 
By:/s/ Stephen D. Yarad
  Stephen D. Yarad
  Member
  MFA Financial, Inc. 401(k) Administration Committee

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