Ellington Financial Inc. Completes Non-QM Securitization
Ellington Financial (NYSE: EFC) has completed a $290 million securitization backed by non-qualified residential mortgage loans. The company contributed approximately 65% of the loans, while funds managed by Ellington Management Group provided the remainder. The debt tranches received top ratings from Fitch and KBRA, with senior-most tranches achieving AAAsf and AAA (sf) ratings. EFC retained certain tranches to comply with U.S. and EU credit risk retention rules and maintained the option to call the securitization after the optional redemption date.
Ellington Financial (NYSE: EFC) ha completato una securitizzazione di 290 milioni di dollari garantita da mutui residenziali non qualificati. L'azienda ha contribuito con circa il 65% dei prestiti, mentre i fondi gestiti da Ellington Management Group hanno fornito il resto. Le tranche di debito hanno ricevuto punteggi elevati da Fitch e KBRA, con le tranche pi霉 senior che hanno raggiunto valutazioni AAAsf e AAA (sf). EFC ha trattenuto alcune tranche per conformarsi alle normative statunitensi e dell'UE sulla retention del rischio di credito e ha mantenuto l'opzione di richiamare la securitizzazione dopo la data di riscatto facoltativa.
Ellington Financial (NYSE: EFC) ha completado una securitizaci贸n de 290 millones de d贸lares respaldada por pr茅stamos hipotecarios residenciales no calificados. La empresa contribuy贸 con aproximadamente el 65% de los pr茅stamos, mientras que los fondos gestionados por Ellington Management Group proporcionaron el resto. Las tranches de deuda recibieron las mejores calificaciones de Fitch y KBRA, siendo las tranches m谩s senior calificadas como AAAsf y AAA (sf). EFC retuvo ciertas tranches para cumplir con las reglas de retenci贸n de riesgo crediticio de EE. UU. y la UE y mantuvo la opci贸n de llamar a la securitizaci贸n despu茅s de la fecha de redenci贸n opcional.
Ellington 旮堨湹 (NYSE: EFC)電 牍勳瀽瓴 欤柬儩 雼措炒 雽於滌潉 旮半皹鞙茧 頃橂姅 2鞏 9觳滊 雼煬 攴滊鞚 歃濌秾頇毳 鞕勲頄堨姷雼堧嫟. 須岇偓電 雽於滌潣 鞎 65%毳 旮办棳頄堨溂氅, Ellington Management Group鞚 甏毽晿電 鞛愱笀鞚 雮橂ǜ歆毳 鞝滉车頄堨姷雼堧嫟. 攵毂 韸鸽灉旃橂姅 Fitch鞕 KBRA鞐愳劀 斓滉碃 霌标笁鞚 氚涭晿鞙茧┌, 臧鞛 靸侅渼 韸鸽灉旃橂姅 AAAsf鞕 AAA (sf) 霌标笁鞚 旮半頄堨姷雼堧嫟. EFC電 氙戈淡 氚 EU鞚 鞁犾毄 鞙勴棙 氤挫湢 攴滌爼鞚 欷靾橅晿旮 鞙勴暣 鞚茧秬 韸鸽灉旃橂ゼ 氤挫湢頄堨溂氅, 靹犿儩鞝 靸來櫂鞚 鞚错泟鞐 歃濌秾頇旊ゼ 順胳稖頃 鞓奠厴鞚 鞙犾頄堨姷雼堧嫟.
Ellington Financial (NYSE: EFC) a termin茅 une titularisation de 290 millions de dollars soutenue par des pr锚ts hypoth茅caires r茅sidentiels non qualifi茅s. La soci茅t茅 a contribu茅 脿 environ 65 % des pr锚ts, tandis que des fonds g茅r茅s par Ellington Management Group ont fourni le reste. Les tranches de dette ont re莽u les meilleures notes de Fitch et KBRA, les tranches les plus seniors ayant atteint des notations AAAsf et AAA (sf). EFC a conserv茅 certaines tranches pour se conformer aux r猫gles de conservation du risque de cr茅dit des 脡tats-Unis et de l'UE et a maintenu l'option d'appeler la titularisation apr猫s la date de rachat optionnelle.
Ellington Financial (NYSE: EFC) hat eine Wertpapieremission 眉ber 290 Millionen Dollar abgeschlossen, die durch nicht qualifizierte Wohnungsbaudarlehen gedeckt ist. Das Unternehmen hat etwa 65 % der Darlehen beigetragen, w盲hrend von Ellington Management Group verwaltete Fonds den Rest bereitgestellt haben. Die Schuldtitel erhielten von Fitch und KBRA h枚chste Bewertungen, wobei die seniorsten Tranchen AAAsf und AAA (sf) Bewertungen erreichten. EFC behielt bestimmte Tranchen, um den US-amerikanischen und EU-Vorschriften zur Risikobeibehaltung bei und behielt sich die Option vor, die Verbriefung nach dem optionalen R眉ckzahlungsdatum zur眉ckzurufen.
- Successful completion of $290 million securitization
- Highest possible AAA ratings achieved for senior tranches
- Strategic retention of call option provides flexibility
- None.
Insights
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The retention of certain tranches while maintaining the call option provides valuable flexibility in managing the securitization's lifecycle. This structure allows EFC to potentially benefit from both ongoing interest income and future market opportunities through the call option. Compliance with both U.S. and EU risk retention rules also broadens the investor base and enhances marketability of the securities.
The debt tranches issued in the securitization were rated by Fitch and KBRA, with the senior-most tranches receiving AAAsf and AAA (sf) ratings, respectively. The Company retained certain tranches of the securitization in compliance with both
About Ellington Financial
Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans and mortgage-backed securities, reverse mortgage loans, mortgage servicing rights and related investments, consumer loans, asset-backed securities, 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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Investor Inquiries:
Ellington Financial Inc.
Investor Relations
(203) 409-3575
info@ellingtonfinancial.com
Press & Media Relations:
Amanda Shpiner/Grace Cartwright
Gasthalter & Co.
for Ellington Financial
(212) 257-4170
Ellington@gasthalter.com
Source: Ellington Financial Inc.
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