OLD GREENWICH, Connecticut – (BUSINESS WIRING) – Ellington Financial Inc. (NYSE: EFC) (the “Company”) announced today that it has closed a $ 331.8 million securitization secured by a pool of unqualified home mortgages (“unqualified”). The Company initially acquired the vast majority of its non-QM loans from LendSure Mortgage Corp., a mortgage lender in which the Company holds a strategic equity investment.
The securitization received both Fitch and KBRA ratings, with the senior tranche receiving AAA ratings. The company retained certain tranches of securitizations to comply with credit risk retention rules and retained the ability to revoke the securitization at any time after the optional redemption date.
About Ellington Financial Inc.
Ellington Financial invests in a variety of financial assets, including residential and commercial mortgages, residential and commercial mortgage securities, consumer loans and asset-backed securities secured by consumer loans, secured loan commitments, non-mortgage and mortgage-related derivatives. , equity investments in lending companies and other strategic investments. Ellington Financial is outsourced and 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 providing home mortgages that operates primarily on a wholesale basis. LendSure is led by a team of seasoned mortgage professionals with years of experience in the mortgage industry. LendSure was founded in March 2015 and is headquartered in San Diego, California.