MFA Financial Inc. (NYSE: MFA) has announced the completion of MFA 2025-NQM4, its fourth securitization of non-qualified residential mortgage (Non-QM) loans in 2025 and twentieth such transaction since 2020. The newly closed securitization is collateralized by 621 mortgage loans with an unpaid principal balance of $371.2 million, backed by one-to-four family residential properties across the U.S. The loan pool features a weighted average coupon of 7.68%, a loan-to-value (LTV) ratio of 68%, and an average credit score of 741. S&P has assigned ratings to the sold tranches, ranging from AAA to BBB. This latest transaction brings MFA's cumulative Non-QM securitization volume to $7.3 billion. No maturity date or pricing details were provided in the document. A URL to the full prospectus was not included in the provided context.