MFA Financial, Inc. Appoints Sheila A. Stamps to Board of Directors
December 15, 2021 at 10:10 am EST
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MFA Financial, Inc. announced that its Board of Directors has elected Sheila A. Stamps to its Board effective immediately. Ms. Stamps currently serves on the Board of Directors of Atlas Air Worldwide Holdings, Inc., a leading global provider of outsourced aircraft and aviation operating services, where she also serves as Chair of the Audit and Finance Committee, and Pitney Bowes Inc., a global shipping and mailing company that provides services to businesses and governments, where she also serves on the Audit and Executive Compensation Committees. Ms. Stamps also serves on the Board of CIT Group, Inc., a financial holding company, where she serves as a member of the Audit and Nominating & Governance Committees, as well as a member of the Board of CIT's subsidiary, CIT Bank, N.A. Ms. Stamps was also recently named to Savoy Magazine's 2021 Most Influential Black Corporate Directors. From 2014 to 2018 Ms. Stamps served as a Commissioner and Audit Committee Chair on the Board of the New York State Insurance Fund, the state's largest workers' compensation insurance provider. From 2011 to 2012 she served as Executive Vice President at DBI, LLC, a private mortgage investment company. From 2008 to 2011 Ms. Stamps served as Director of Pension Investments and Cash Management at the New York State Common Retirement Fund, and from 2004 to 2005 she was a Fellow at the Weatherhead Center for International Affairs at Harvard University. From 2003 to 2004, Ms. Stamps served as a Managing Director and Head of Relationship Management, Financial Institutions at Bank of America Corp. (formerly FleetBoston). From 1982 to 2003, she held a number of executive positions with Bank One Corporation (now JPMorgan), including Managing Director and Head of European Asset-Backed Securitization and Managing Director and Senior Originator of Asset-Backed Securitization. Ms. Stamps has a B.S. in Management Sciences from Duke University and an MBA in Finance from the University of Chicago. She also earned a CERT Certificate in Cybersecurity Oversight from the Software Engineering Institute at Carnegie Mellon University. The election of Ms. Stamps brings the total number of directors on the MFA Board to eight, seven of whom are independent and four of whom are women. Ms. Stamps will serve on the Compensation and Nominating and Corporate Governance Committees of the Board.
MFA Financial, Inc. is a specialty finance company that invests in residential mortgage loans, residential mortgage-backed securities and other real estate assets. Its targeted investments include principally residential whole loans and residential mortgage securities. Its residential whole loans include purchased performing loans, purchased credit deteriorated and purchased non-performing loans. Its residential mortgage securities include agency mortgage-backed securities (MBS), non-agency MBS, credit risk transfer securities and MSR-related assets, which include term notes backed directly or indirectly by mortgage servicing rights (MSRs). Its principal business objective is to deliver shareholder value through the generation of distributable income and through asset performance linked to residential mortgage credit fundamentals. The Company, through its wholly owned subsidiary, Lima One Capital (Lima One), also originates and services business purpose loans for real estate investors.