April 14, 2021
Business News

Ellington Financial Inc. Completes $251.8 Million Non-QM Loan Securitization

OLD GREENWICH, Conn.–()–Ellington Financial Inc. (NYSE: EFC) (the “Company”) announced today that it has closed a $251.8 million securitization backed by a pool of non-qualified residential mortgage (“non-QM”) loans. The Company originally acquired the vast majority of the non-QM loans from LendSure Mortgage Corp., a mortgage originator in which the Company holds a strategic equity investment.

The securitization was rated by both S&P and KBRA, with the senior tranche receiving AAA ratings. The Company retained certain tranches of the securitization in order to comply with credit risk retention rules, and also retained the option to call the securitization at any time following the optional redemption…

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