MFO is better than a preferred, and yet it is down below Par value today (7/15). It appears that someone knows something out there that we are not aware of . MFA Pref B is below $24 also. I am buying with very little conviction, I hope it pans out.
Don't forget MFO just went ex-div last week so it's down 50 cents just on that. The preferred B is trading about where most mREIT preferreds are with that coupon rate. See; e.g., DX Preferred B and NLY-D.