Ellington Financial Agrees To Acquire AAIC
Deal expected to close in fourth quarter of this year.
Deal expected to close in fourth quarter of this year.
Completes 8th Non-QM securitization as company rebounds to a profit in Q4.
The certificates are supported by 796 loans with a balance of $330.37 million.
EFI contributed about 85% of the loans, with the remainder contributed by a fund managed by Ellington Management Group L.L.C.
The company acquired the majority of the non-QM loans from LendSure Mortgage Corp. and American Heritage Lending.
EFI originally acquired the majority of the non-QM loans from LendSure Mortgage Corp.