-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 ImRbKLB8Rpl34xm1YRYUBUx7Rl2Nz17zBliOrLoAS/7tOwkLU6z7s85fY7ihQ0KD
 rI1g3Do4Y5xNtNieR7cODw==

<SEC-DOCUMENT>0001178655-03-000013.txt : 20030630
<SEC-HEADER>0001178655-03-000013.hdr.sgml : 20030630
<ACCEPTANCE-DATETIME>20030630164208
ACCESSION NUMBER:		0001178655-03-000013
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030630
FILED AS OF DATE:		20030630

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			YANNEY MICHAEL B
		CENTRAL INDEX KEY:			0001178655

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13991
		FILM NUMBER:		03764914

	BUSINESS ADDRESS:	
		STREET 1:		C/O RCN CORP
		STREET 2:		105 CARNEGIE CENTER
		CITY:			PRINCETON
		STATE:			NJ
		ZIP:			08540
		BUSINESS PHONE:		6097343700

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MFA MORTGAGE INVESTMENTS
		CENTRAL INDEX KEY:			0001055160
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				133974868
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		350 PARK AVENUE
		STREET 2:		21ST FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2122076400

	MAIL ADDRESS:	
		STREET 1:		350 PARK AVE
		STREET 2:		21ST FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICA FIRST MORTGAGE INVESTMENTS INC
		DATE OF NAME CHANGE:	19980211
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-06-30</periodOfReport>
    <issuer>
        <issuerCik>0001055160</issuerCik>
        <issuerName>MFA MORTGAGE INVESTMENTS</issuerName>
        <issuerTradingSymbol>MFA</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId>
            <rptOwnerCik>0001178655</rptOwnerCik>
            <rptOwnerName>YANNEY MICHAEL B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>1</isOther><otherText>Director retired 3/11/2003</otherText></reportingOwnerRelationship></reportingOwner><nonDerivativeSecurity><securityTitle><value>Common Stock $0.01 par value</value></securityTitle><transactionDate><value>2003-06-30</value></transactionDate><deemedExecutionDate><value>2003-06-30</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>20000</value></transactionShares><transactionValue><value>10.00</value></transactionValue><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>434000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</v
alue></directOrIndirectOwnership><natureOfOwnership><value>By America First Companies</value></natureOfOwnership></ownershipNature></nonDerivativeSecurity><nonDerivativeSecurity><securityTitle><value>Common Stock $0.01 par value</value></securityTitle><transactionDate><value>1988-08-08</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>0</value></transactionShares><transactionValue><value>0</value></transactionValue><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>2217</value><footnoteId id="F1"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership><natureOfOwnership><value/></natureOfOwnership></ownershipNature></nonDeri
vativeSecurity><nonDerivativeSecurity><securityTitle><value>Common Stock $0.01 par value</value></securityTitle><transactionDate><value>1988-08-08</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>0</value></transactionShares><transactionValue><value>0</value></transactionValue><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>15430</value><footnoteId id="F1"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>By Torrey Lake Charitable Remainder Trust</value></natureOfOwnership></ownershipNature></nonDerivativeSecurity><nonDerivativeSecurity><securityTitle><value>Common Stock $0.01 par value</v
alue></securityTitle><transactionDate><value>1988-08-08</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>0</value></transactionShares><transactionValue><value>0</value></transactionValue><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>4300</value><footnoteId id="F1"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>By Gail Walling Yanney, M.D., Mr. Yanney's wife</value></natureOfOwnership></ownershipNature></nonDerivativeSecurity><footnotes><footnote id="F1">Not a transaction.  Disclosure of beneficial ownership.</footnote></footnotes><ownerSignature><signatureName>Teresa D. Covello, proxy
 on behalf of Michael B. Yanney</signatureName><signatureDate>2003-06-30</signatureDate></ownerSignature></ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----