OLD GREENWICH, Connecticut – (COMMERCIAL THREAD) – Ellington Financial Inc. (NYSE: EFC) (the “Company”) today announced that it has completed a securitization of $ 251.8 million backed by a pool of unqualified residential mortgages (“no -QM ”). The Company initially acquired the vast majority of non-QM loans from LendSure Mortgage Corp., a mortgage originator in which the Company has a strategic equity interest.
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 the credit risk retention rules, and also retained the possibility of calling the securitization at any time after the optional redemption date.
About Ellington Financial Inc.
Ellington Financial invests in a wide range of financial assets including residential and commercial mortgages, residential and commercial mortgage-backed securities, consumer loans, and consumer-backed asset-backed securities. , secured loan bonds, non-mortgage and mortgage derivatives, equity investments in loan origination companies and other strategic investments. Ellington Financial is managed and externally advised by Ellington Financial Management LLC, a subsidiary of Ellington Management Group, LLC
About LendSure Mortgage Corp.
LendSure is a privately held financial services company primarily engaged in arranging residential mortgage loans. LendSure is led by a team of seasoned mortgage advisors who have many years of experience in the mortgage industry. LendSure is currently licensed (or does not need to be licensed) to create mortgages in 39 states, and operates primarily on a wholesale basis. LendSure was founded in March 2015 and is headquartered in San Diego, California.