Ellington Financial Inc. Completes Non-QM Loan Securitization

Rhea-AI Summary

Ellington Financial Inc. (NYSE: EFC) has successfully closed a $365 million securitization backed by non-qualified residential mortgage loans. Ellington Financial contributed approximately 85% of the loans in the securitization, with the remainder provided by a managed fund. The securitization received AAA ratings for its senior tranche from Fitch and KBRA, highlighting its strong credit quality. This move enhances Ellington's financial stability by diversifying its asset base and demonstrates confidence in the non-QM loan market.

Positive

• Successful closing of a $365 million securitization.
• Ellington contributed approximately 85% of the loans.
• Senior tranche rated AAA by Fitch and KBRA, indicating strong credit quality.

Negative

• None.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005814/en/

Investor Inquiries:

Ellington Financial Inc.

Investor Relations

(203) 409-3575

info@ellingtonfinancial.com



Press & Media Relations:

Amanda Shpiner/Sara Widmann

Gasthalter & Co.

for Ellington Financial

(212) 257-4170

Ellington@gasthalter.com

Source: Ellington Financial Inc.

FAQ

What is the recent securitization amount announced by Ellington Financial (EFC)?

Ellington Financial recently closed a securitization amounting to $365 million.

What percentage of the securitized loans did Ellington Financial contribute?

Ellington Financial contributed approximately 85% of the loans in the securitization.

What ratings did the senior tranche of the securitization receive?

The senior tranche of the securitization received AAA ratings from both Fitch and KBRA.