In addition, it sold $US 659.9 million in residential real estate loans and $US 136.8 million in service mortgage fees. As a result of these collective measures, MFA Financial reduced its total exposure to unpaid margin calls by approximately 43%. As the AMF was unable to satisfy Margin Calls, it was forced to enter into forbearance agreements with its creditors. The bailout was a $500 million loan from Apollo Management and Athene of more than 11 percent, which gave the AMF the respite to negotiate an exit from the indulgence and secure financing on better terms. During the quarter, the AMF`s activity focused mainly on liabilities on the balance sheet, not on assets. MFA Financial spent most of the second quarter in leniency with its creditors. This gave the company some air, while selling assets at auction and negotiating a capital increase. The AMF entered into an agreement with investment manager Apollo Global Management and guarantee company Athene, which consisted of a $500 million loan, $2 billion in non-mark-to-market financing, a share purchase warrant issue and a requirement to purchase 4.9% of the AMF`s financial shares on the market. On June 26, the company left the indulgence. The third agreement extends the forbearance period agreed under the company`s forbearance agreement on April 27, 2020 and scheduled to expire on June 1 at 4:30 p.m.
and .m. ET. According to a press release, the terms of the third agreement are almost identical to those of the second agreement. Under the third agreement, the counterparties to AMF Financial`s retirement liabilities have declared their readiness not to exercise any rights or remedies in their respective retirement operations with the company before 26 June, including the sale of guarantees to enforce Margin Calls, unless previously terminated as a result of certain events. Like most REITs, the AMF has financed its assets through retirement operations (also known as rest), which are secured loans and are similar to margin loans. If the value of the underlying assets decreases, the bank will ask for more cash. Since the AMF was unable to obtain the liquidity necessary for the execution of Margin Calls, it concluded a forbearance agreement with its repo counterparties and secured a rescue plan.