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MFA Financial, Inc. (
Q4 2011 Earnings Conference Call
February 16, 2012 10:00 AM ET
Alexandra Giladi – IR
– Chief Executive Officer & Chairman of Board of Directors
Bill Gorin – President
Craig Knutson – Executive Vice President
Steve Yarad – Chief Financial Officer
Steve DeLaney – JMP Securities
Bose George – KBW
Jason Weaver – Sterne, Agee
Mike Widner – Stifel Nicolaus
Arren Cyganovich – Evercore Partners
Jay Mccanless – Guggenheim Securities
Dan Furtado – Jefferies
Ladies and gentlemen, thank you for standing by, and welcome to the MFA Financial, Inc. fourth quarter 2011 earnings release. For the conference, all the participants are in a listen-only mode. There will be an opportunity for your questions. Instructions will be given at that time. (Operator instructions) As a reminder, today’s call is being recorded.
With that being said, for opening remarks, I will turn it over to Ms. Alexandra Giladi. Please go ahead.
Good morning. Information discussed on this conference call today may contain or refer to forward-looking statements regarding MFA Financial, Inc., which reflect management’s beliefs, expectations, and assumptions as to MFA’s future performance and operations.
When used, statements that are not historical in nature, including those containing words such as, will, believe, expect, anticipate, estimate, plan, continue, intend, should, could, would, may or similar expressions, are intended to identify forward-looking statements. All forward-looking statements speak only as of the date on which they are made.
These types of statements are subject to various known and unknown risks, uncertainties, assumptions, and other factors including, but not limited to, those relating to changes in interest rates and the market value of MFA’s investment securities; changes in the prepayment rates on the mortgage loans securing MFA’s investment securities; MFA’s ability to borrow to finance its assets; implementation of or changes in government regulations or programs affecting MFA’s business; MFA’s ability to maintain its qualification as a real estate investment trust for federal income tax purposes; MFA’s ability to maintain its exemption from registration under the Investment Company Act of 1940; and risks associated with investing in real estate related assets, including changes in business conditions and the general economy.