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Investment in Securities (Summary of Investment in Securities) (Details) - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Securities, Available-for-sale [Line Items]    
Current Principal $ 1,364,205 $ 2,282,149
Unamortized Premium (Discount) (202,583) (150,821)
Amortized Cost 1,430,336 2,342,369
Gross Unrealized Gains 55,888 43,801
Gross Unrealized Losses (86,297) (9,638)
Investment Owned At Fair Value, Net 1,399,927 2,376,532
Securities, at fair value(1) [1] 1,451,420 2,449,941
Securities sold short, at fair value $ (51,493) $ (73,409)
Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.98% 4.23%
Weighted Average Yield 4.89% 4.01%
Weighted average life 4 years 4 months 17 days 5 years 10 months 24 days
Long    
Securities, Available-for-sale [Line Items]    
Current Principal $ 1,414,935 $ 2,355,498
Unamortized Premium (Discount) (203,926) (151,329)
Amortized Cost 1,479,723 2,415,210
Gross Unrealized Gains 55,883 43,738
Gross Unrealized Losses (84,186) (9,007)
Securities, at fair value(1) $ 1,451,420 $ 2,449,941
Long | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.86% 4.15%
Weighted Average Yield 5.05% 4.09%
Weighted average life 4 years 4 months 13 days 5 years 10 months 17 days
Long | 15-year fixed-rate mortgages    
Securities, Available-for-sale [Line Items]    
Current Principal $ 69,491 $ 314,636
Unamortized Premium (Discount) 2,641 6,369
Amortized Cost 72,132 321,005
Gross Unrealized Gains 1,890 2,604
Gross Unrealized Losses (27) (203)
Securities, at fair value(1) $ 73,995 $ 323,406
Long | 15-year fixed-rate mortgages | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.31% 3.05%
Weighted Average Yield 1.89% 2.28%
Weighted average life 3 years 4 months 17 days 3 years 18 days
Long | 20-year fixed-rate mortgages    
Securities, Available-for-sale [Line Items]    
Current Principal $ 587 $ 804
Unamortized Premium (Discount) 39 49
Amortized Cost 626 853
Gross Unrealized Gains 29 24
Gross Unrealized Losses 0 0
Securities, at fair value(1) $ 655 $ 877
Long | 20-year fixed-rate mortgages | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 4.71% 4.62%
Weighted Average Yield 2.94% 2.99%
Weighted average life 3 years 10 months 17 days 4 years 9 months 18 days
Long | 30-year fixed-rate mortgages    
Securities, Available-for-sale [Line Items]    
Current Principal $ 625,882 $ 1,358,762
Unamortized Premium (Discount) 30,133 64,846
Amortized Cost 656,015 1,423,608
Gross Unrealized Gains 26,286 13,821
Gross Unrealized Losses (371) (2,830)
Securities, at fair value(1) $ 681,930 $ 1,434,599
Long | 30-year fixed-rate mortgages | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 4.06% 4.20%
Weighted Average Yield 2.42% 2.95%
Weighted average life 4 years 21 days 6 years 7 months 17 days
Long | Adjustable rate mortgages    
Securities, Available-for-sale [Line Items]    
Current Principal $ 6,751 $ 9,651
Unamortized Premium (Discount) 173 315
Amortized Cost 6,924 9,966
Gross Unrealized Gains 123 90
Gross Unrealized Losses (1) (54)
Securities, at fair value(1) $ 7,046 $ 10,002
Long | Adjustable rate mortgages | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.65% 3.99%
Weighted Average Yield 2.15% 2.03%
Weighted average life 3 years 4 months 6 days 4 years 1 month 2 days
Long | Reverse mortgages    
Securities, Available-for-sale [Line Items]    
Current Principal $ 94,741 $ 122,670
Unamortized Premium (Discount) 5,466 8,133
Amortized Cost 100,207 130,803
Gross Unrealized Gains 4,317 2,023
Gross Unrealized Losses 0 (26)
Securities, at fair value(1) $ 104,524 $ 132,800
Long | Reverse mortgages | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 4.02% 4.43%
Weighted Average Yield 2.36% 2.78%
Weighted average life 5 years 1 month 6 days 6 years 8 months 1 day
Long | Interest only securities    
Securities, Available-for-sale [Line Items]    
Amortized Cost $ 47,507 $ 34,044
Gross Unrealized Gains 5,682 1,624
Gross Unrealized Losses (1,484) (389)
Securities, at fair value(1) $ 51,705 $ 35,279
Long | Interest only securities | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.47% 2.81%
Weighted Average Yield 10.17% 9.27%
Weighted average life 4 years 6 months 29 days 3 years 10 months 9 days
Long | Non-Agency RMBS    
Securities, Available-for-sale [Line Items]    
Current Principal $ 336,997 $ 274,353
Unamortized Premium (Discount) (131,976) (122,685)
Amortized Cost 205,021 151,668
Gross Unrealized Gains 12,488 12,549
Gross Unrealized Losses (7,959) (1,081)
Securities, at fair value(1) $ 209,550 $ 163,136
Long | Non-Agency RMBS | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.16% 3.41%
Weighted Average Yield 6.35% 7.25%
Weighted average life 4 years 8 months 4 days 5 years 3 months 21 days
Long | CMBS    
Securities, Available-for-sale [Line Items]    
Current Principal $ 184,695 $ 185,417
Unamortized Premium (Discount) (62,938) (67,961)
Amortized Cost 121,757 117,456
Gross Unrealized Gains 803 2,990
Gross Unrealized Losses (24,307) (480)
Securities, at fair value(1) $ 98,253 $ 119,966
Long | CMBS | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 2.54% 3.31%
Weighted Average Yield 7.74% 6.62%
Weighted average life 8 years 5 months 4 days 8 years 11 months 8 days
Long | Non-Agency IOs    
Securities, Available-for-sale [Line Items]    
Amortized Cost $ 8,367 $ 6,517
Gross Unrealized Gains 1,832 1,817
Gross Unrealized Losses (250) (18)
Securities, at fair value(1) $ 9,949 $ 8,316
Long | Non-Agency IOs | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 1.17% 1.10%
Weighted Average Yield 16.73% 8.18%
Weighted average life 2 years 9 months 4 years 1 month 20 days
Long | CLOs    
Securities, Available-for-sale [Line Items]    
Amortized Cost $ 211,236 $ 169,238
Gross Unrealized Gains 1 4,219
Gross Unrealized Losses (47,943) (3,014)
Securities, at fair value(1) $ 163,294 $ 170,443
Long | CLOs | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 3.25% 5.05%
Weighted Average Yield 8.48% 9.62%
Weighted average life 3 years 10 months 2 days 4 years 9 months
Long | Asset-backed securities, backed by consumer loans    
Securities, Available-for-sale [Line Items]    
Current Principal $ 71,617 $ 67,080
Unamortized Premium (Discount) (24,277) (19,154)
Amortized Cost 47,340 47,926
Gross Unrealized Gains 1,052 1,596
Gross Unrealized Losses (1,094) (912)
Securities, at fair value(1) $ 47,298 $ 48,610
Long | Asset-backed securities, backed by consumer loans | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 11.82% 12.17%
Weighted Average Yield 17.39% 14.00%
Weighted average life 1 year 29 days 1 year 2 months 19 days
Long | Corporate debt securities    
Securities, Available-for-sale [Line Items]    
Current Principal $ 24,174 $ 22,125
Unamortized Premium (Discount) (23,187) (21,241)
Amortized Cost 987 884
Gross Unrealized Gains 1,220 229
Gross Unrealized Losses 0 0
Securities, at fair value(1) $ 2,207 $ 1,113
Long | Corporate debt securities | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 0.00% 0.00%
Weighted Average Yield 0.00% 0.00%
Weighted average life 2 years 10 months 6 days 3 months 29 days
Long | Corporate equity securities    
Securities, Available-for-sale [Line Items]    
Amortized Cost $ 1,604 $ 1,242
Securities, at fair value(1) 1,014 1,394
Corporate equity, gross unrealized gains 160 152
Corporate equity, gross unrealized losses (750) 0
Short    
Securities, Available-for-sale [Line Items]    
Current Principal (50,730) (73,349)
Unamortized Premium (Discount) 1,343 508
Investment Sold, Not yet Purchased, Sale Proceeds (49,387) (72,841)
Gross Unrealized Gains 5 63
Gross Unrealized Losses (2,111) (631)
Securities sold short, at fair value $ (51,493) $ (73,409)
Short | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 0.39% 1.65%
Weighted Average Yield 0.21% 1.66%
Weighted average life 4 years 1 month 28 days 5 years 5 months 26 days
Short | Corporate debt securities    
Securities, Available-for-sale [Line Items]    
Current Principal $ (450) $ (450)
Unamortized Premium (Discount) (6) (6)
Investment Sold, Not yet Purchased, Sale Proceeds (456) (456)
Gross Unrealized Gains 5 0
Gross Unrealized Losses (10) (15)
Securities sold short, at fair value $ (461) $ (471)
Short | Corporate debt securities | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 5.32% 5.44%
Weighted Average Yield 5.21% 5.21%
Weighted average life 4 years 1 month 20 days 4 years 10 months 24 days
Short | U.S. Treasury securities    
Securities, Available-for-sale [Line Items]    
Current Principal $ (14,000) $ (63,140)
Unamortized Premium (Discount) (273) 381
Investment Sold, Not yet Purchased, Sale Proceeds (14,273) (62,759)
Gross Unrealized Gains 0 63
Gross Unrealized Losses (37) (298)
Securities sold short, at fair value $ (14,310) $ (62,994)
Short | U.S. Treasury securities | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 0.63% 1.76%
Weighted Average Yield 0.41% 1.87%
Weighted average life 6 years 2 months 15 days 6 years 1 month 9 days
Short | European sovereign bonds    
Securities, Available-for-sale [Line Items]    
Current Principal $ (36,280) $ (9,759)
Unamortized Premium (Discount) 1,622 133
Investment Sold, Not yet Purchased, Sale Proceeds (34,658) (9,626)
Gross Unrealized Gains 0 0
Gross Unrealized Losses (2,064) (318)
Securities sold short, at fair value $ (36,722) $ (9,944)
Short | European sovereign bonds | Weighted Average    
Securities, Available-for-sale [Line Items]    
Weighted Average Coupon 0.22% 0.77%
Weighted Average Yield 0.06% 0.12%
Weighted average life 3 years 4 months 9 days 1 year 6 months 29 days
[1] Ellington Financial Inc.'s Condensed Consolidated Balance Sheet includes assets and liabilities of variable interest entities it has consolidated. See Note 9 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.