Skip to main content

Ellington Financial Inc. Closes $219M Non-QM Loan Securitization

Navi Persaud
Nov 02, 2020
Empty board room.

Ellington Financial Inc. closed a $219.7 million securitization that was backed by a pool of non-qualified residential mortgage loans. The vast majority of the Non-QM loans were acquired from LendSure Mortgage Corp.

"I am very pleased with the execution of this securitization of non-QM loans, our second this year," said JR Herlihy, chief financial officer of Ellington Financial. "Following the challenges of the spring, LendSure has done an extraordinary job restarting its loan production, and the performance of LendSure loans continues to be excellent. The pipeline of high-quality non-QM loans from LendSure continues to be an important driver of earnings for Ellington Financial, and we look forward to continuing to grow this origination business together."

According to a press release, the securitization was rated by Fitch and KBRA with the senior tranche receiving AAA ratings. Additionally, Ellington Financial retained a certain portion of the securitization in order to maintain its compliance with credit risk retention rules. It also retained the option to call the securitization at any time following the optional redemption date, according to the release. 

Want more Non-QM News? We've got a newsletter for you!

Published
Nov 02, 2020
ChainLogix Appoints New Vice President, Operations

Jeryl Graham hired to accelerate growth in title & mortgage services.

Industry News
Oct 15, 2021
JPMorgan Chase To Commit $8.4M To Improve Household Stability For The Underserved

JPMorgan Chase announced six organizations that will receive philanthropic capital as part of the firm’s $400 million five-year commitment to improve housing affordability and stability for Black, Hispanic and Latino, and other underserved households.

Community
Oct 15, 2021
SRE Mortgage Alliance 'Restructuring & Reorganizing'

Owner of technology-based wholesale residential mortgage lender in El Segundo to determine organization's future.

Wholesale
Oct 15, 2021
Ginnie Mae Issued Record MBS Volume In FY2021

The record $939 billion issued included nearly $73 billion in September.

Industry News
Oct 14, 2021
UWM Completes Test Of Cryptocurrency Mortgage Payments

United Wholesale Mortgage evaluated and accepted the first-ever cryptocurrency mortgage payment in September and an additional five payments in October from borrowers.

Industry News
Oct 14, 2021
Arvielo Re-Appointed To HUD Advisory Committee

Nationwide mortgage lender New American Funding’s Co-Founder and President Patty Arvielo has been re-appointed to serve on the U.S. Department of Housing & Urban Development's Housing Counseling Federal Advisory Committee.

Industry News
Oct 13, 2021