Ellington Financial Inc. Completes Non-QM Securitization
Ellington Financial Inc. (NYSE: EFC) has successfully completed a $288 million securitization backed by non-qualified residential mortgage (non-QM) loans. The company contributed approximately 83% of the loans in the securitization pool, with the remainder coming from funds managed by Ellington Management Group, L.L.C.
The debt tranches issued in the securitization were rated by S&P, with the senior-most tranches receiving AAA(sf) ratings. Ellington Financial retained certain tranches to comply with U.S. and EU credit risk retention rules, and also kept the option to call the securitization after the optional redemption date.
Ellington Financial Inc. (NYSE: EFC) ha completato con successo una securitizzazione di 288 milioni di dollari supportata da mutui residenziali non qualificati (non-QM). L'azienda ha contribuito con circa l'83% dei prestiti nel pool di securitizzazione, mentre il resto proviene da fondi gestiti da Ellington Management Group, L.L.C.
Le tranche di debito emesse nella securitizzazione sono state valutate da S&P, con le tranche più senior che hanno ricevuto un rating AAA(sf). Ellington Financial ha mantenuto alcune tranche per conformarsi alle normative americane e europee sulla retention del rischio creditizio e ha anche mantenuto l'opzione di richiamare la securitizzazione dopo la data di rimborso facoltativa.
Ellington Financial Inc. (NYSE: EFC) ha completado con éxito una securitización de 288 millones de dólares respaldada por préstamos hipotecarios residenciales no calificados (non-QM). La compañía contribuyó con aproximadamente el 83% de los préstamos en el fondo de securitización, siendo el resto de fondos administrados por Ellington Management Group, L.L.C.
Las tramos de deuda emitidas en la securitización fueron calificadas por S&P, con las tramos más senior recibiendo calificaciones AAA(sf). Ellington Financial retuvo ciertas tramos para cumplir con las regulaciones de retención de riesgo crediticio de EE. UU. y la UE, y también mantuvo la opción de cancelar la securitización después de la fecha de redención opcional.
Ellington Financial Inc. (NYSE: EFC)는 비적격 주택 담보 대출(non-QM)로 지원되는 2억 8천 8백만 달러 규모의 자산유동화를 성공적으로 완료했습니다. 이 회사는 자산유동화 풀에서 대출의 약 83%를 기여했으며, 나머지는 Ellington Management Group, L.L.C.에서 관리하는 펀드에서 나왔습니다.
자산유동화에서 발행된 부채 트랜치는 S&P에 의해 평가되었으며, 가장 상위 트랜치가 AAA(sf) 등급을 받았습니다. Ellington Financial은 미국과 EU의 신용 위험 유지 규정을 준수하기 위해 일부 트랜치를 보유했으며, 선택적 상환일 이후에 자산유동화를 호출할 수 있는 옵션도 보유하고 있었습니다.
Ellington Financial Inc. (NYSE: EFC) a réussi à finaliser une titularisation de 288 millions de dollars soutenue par des prêts hypothécaires résidentiels non qualifiés (non-QM). L'entreprise a contribué à hauteur d'environ 83% des prêts dans le pool de titularisation, le reste provenant de fonds gérés par Ellington Management Group, L.L.C.
Les tranches de dette émises dans la titularisation ont été notées par S&P, les tranches les plus senior ayant reçu des notations AAA(sf). Ellington Financial a conservé certaines tranches pour se conformer aux règles de retention des risques de crédit aux États-Unis et dans l'UE, et a également gardé l'option de rappeler la titularisation après la date de remboursement optionnelle.
Ellington Financial Inc. (NYSE: EFC) hat erfolgreich eine Verbriefung über 288 Millionen Dollar abgeschlossen, die durch nicht qualifizierte Wohnhypothekendarlehen (non-QM) gestützt ist. Das Unternehmen stellte etwa 83% der Darlehen im Verbriefungspool zur Verfügung, während der Rest aus von Ellington Management Group, L.L.C. verwalteten Fonds stammt.
Die in der Verbriefung ausgegebenen Schuldtitel wurden von S&P bewertet, wobei die Senior-Tranchen eine Bewertung von AAA(sf) erhielten. Ellington Financial behielt bestimmte Tranchen, um die Anforderungen der US-amerikanischen und EU-Vorschriften zur risikobehafteten Aufbewahrung zu erfüllen und behielt sich auch die Option vor, die Verbriefung nach dem optionalen Rückzahlungsdatum zu kündigen.
- Successful completion of a $288 million securitization
- Senior-most tranches received AAA(sf) ratings from S&P
- Retained option to call the securitization after the optional redemption date
- None.
Insights
This securitization deal is a significant financial transaction for Ellington Financial, involving a
The retention of certain tranches aligns with regulatory requirements and provides EFC with ongoing exposure to the securitization's performance. The call option after the optional redemption date offers strategic flexibility, allowing EFC to potentially benefit from favorable market conditions or portfolio management opportunities in the future.
For investors, this deal showcases EFC's ability to execute complex financial transactions and leverage its non-QM loan portfolio. It may positively impact the company's liquidity position and could contribute to future earnings, depending on the performance of the retained tranches and market conditions.
The debt tranches issued in the securitization were rated by S&P, with the senior-most tranches receiving AAA(sf) ratings. The Company retained certain tranches of the securitization in compliance with both
About Ellington Financial
Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans and mortgage-backed securities, reverse mortgage loans, mortgage servicing rights and related investments, consumer loans, asset-backed securities, collateralized loan obligations, non-mortgage and mortgage-related derivatives, debt and equity investments in loan origination companies, and other strategic investments. Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.
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Investor Inquiries:
Ellington Financial Inc.
Investor Relations
(203) 409-3575
info@ellingtonfinancial.com
Press & Media Relations:
Amanda Shpiner/Grace Cartwright
Gasthalter & Co.
for Ellington Financial
(212) 257-4170
Ellington@gasthalter.com
Source: Ellington Financial Inc.
FAQ
What is the size of Ellington Financial's (EFC) recent non-QM securitization?
What percentage of loans did EFC contribute to the securitization?
What ratings did the senior-most tranches of EFC's securitization receive?
Did Ellington Financial (EFC) retain any tranches in the securitization?
