Ellington Financial Inc. Completes Non-QM Loan Securitization
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OLD GREENWICH, Conn.--(BUSINESS WIRE)--
Ellington Financial Inc. (NYSE: EFC) announced today the closing of a $365 million securitization backed by a pool of non-qualified residential mortgage (“non-QM”) loans. Ellington Financial contributed approximately 85% of the loans included in the securitization, with the remainder contributed by a fund managed by Ellington Management Group, L.L.C. The securitization was rated by both Fitch and KBRA, with the senior tranche receiving AAA ratings.
About Ellington Financial Inc.
Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans and asset-backed securities backed by consumer loans, 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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