During 2009, we have not acquired any additional Agency MBS due to high premium prices and historically low yields. As a result, we have substantially reduced our reliance on leverage through repurchase financings. As of September 30, 2009, MFA's overall debt-to-equity multiple was 3.4x versus 4.8x as of June 30, 2009. By utilizing less leverage, we believe that future earnings will be less sensitive to changes in interest rates and the yield curve."

MFA HAS NO LEVERAGE - SOLD OFF THEIR ASSETS - NOTHING MORE