SEC Schedule, Article 12-29, Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]

SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate

Ellington Financial Inc.

Schedule IV—Mortgage Loans on Real Estate

December 31, 2022

Asset Type

Description

Number of Loans

Interest Rate

Maturity Date

Periodic Payment Terms

Prior Liens

Face Amount of Mortgages

Carrying Amount of Mortgages(1)(2)

Principal Amount of loans subject to delinquent principal or interest

Residential Mortgage Loans:

(In thousands)

Adjustable Rate Residential Mortgage Loan

$0–$249,999

4.25%–7.88%

10/34–11/51

n/a

1,026

460

Adjustable Rate Residential Mortgage Loan

$250,000–$499,999

3.00%–9.25%

11/47–11/49

n/a

3,151

2,683

Adjustable Rate Residential Mortgage Loan

$500,000–$749,999

3.00%–7.37%

7/35–9/55

n/a

3,440

3,595

Adjustable Rate Residential Mortgage Loan

$750,000–$999,999

6.99%–7.75%

12/48–5/49

n/a

1,489

1,654

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$0–$249,999

217

4.00%–9.99%

8/46–4/50

n/a

31,713

1,466

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$250,000–$499,999

210

4.25%–8.88%

5/46–2/60

n/a

59,998

2,447

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$500,000–$749,999

4.50%–8.75%

1/47–3/60

n/a

33,750

—

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$750,000–$999,999

4.13%–8.38%

2/47–7/59

n/a

16,005

2,599

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$1,000,000–$1,249,999

4.24%–6.99%

3/47–11/61

n/a

14,721

—

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$1,250,000–$1,499,999

4.50%–6.88%

11/46–2/60

n/a

8,313

—

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$1,500,000–$1,749,999

5.75%–6.50%

11/48–6/49

n/a

2,956

—

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$2,250,000–$2,499,999

5.49%–5.99%

11/48–9/59

n/a

6,111

—

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$2,500,000–$2,749,999

4.25%–4.99%

7/49–11/61

n/a

4,407

—

Fixed Rate Residential Mortgage Loan

$0–$249,999

2,000

2.00%–13.00%

1/23–1/63

n/a

290,655

6,569

Fixed Rate Residential Mortgage Loan

$250,000–$499,999

1,211

3.00%–13.00%

1/23–1/63

n/a

376,573

5,043

Fixed Rate Residential Mortgage Loan

$500,000–$749,999

356

3.25%–11.99%

1/23–11/62

n/a

193,457

2,212

Fixed Rate Residential Mortgage Loan

$750,000–$999,999

234

3.25%–12.00%

1/23–10/62

n/a

178,687

5,041

Fixed Rate Residential Mortgage Loan

$1,000,000–$1,249,999

113

3.15%–11.99%

1/23–10/62

n/a

107,197

2,171

Fixed Rate Residential Mortgage Loan

$1,250,000–$1,499,999

3.25%–11.99%

1/23–8/62

n/a

74,687

1,016

Fixed Rate Residential Mortgage Loan

$1,500,000–$1,749,999

3.25%–10.99%

1/23–1/63

n/a

54,431

1,046

Asset Type

Description

Number of Loans

Interest Rate

Maturity Date

Periodic Payment Terms

Prior Liens

Face Amount of Mortgages

Carrying Amount of Mortgages(1)(2)

Principal Amount of loans subject to delinquent principal or interest

Residential Mortgage Loans (Continued):

(In thousands)

Fixed Rate Residential Mortgage Loan

$1,750,000–$1,999,999

3.27%–10.25%

1/23–2/62

n/a

49,225

1,618

Fixed Rate Residential Mortgage Loan

$2,000,000–$2,249,999

3.25%–10.99%

3/23–4/62

n/a

36,552

1,967

Fixed Rate Residential Mortgage Loan

$2,250,000–$2,499,999

3.88%–8.25%

5/23–4/52

n/a

10,407

—

Fixed Rate Residential Mortgage Loan

$2,500,000–$2,749,999

3.63%–11.00%

3/23–10/52

n/a

10,971

—

Fixed Rate Residential Mortgage Loan

$2,750,000–$2,999,999

7.75%–9.50%

2/23–1/53

n/a

18,102

2,767

Fixed Rate Residential Mortgage Loan

$3,000,000–$3,249,999

3.25%–10.24%

6/23–12/61

n/a

18,963

—

Fixed Rate Residential Mortgage Loan

$3,250,000–$3,499,000

8.99%

7/23

n/a

1,735

—

Fixed Rate Residential Mortgage Loan

$3,500,000–$3,749,000

7.99%–10.99%

3/23–6/23

n/a

7,122

—

Fixed Rate Residential Mortgage Loan

$4,000,000–$4,249,999

8.55%–9.99%

2/23–4/24

n/a

3,211

—

Fixed Rate Residential Mortgage Loan

$8,500,000–$8,749,000

10.00%

2/24

n/a

3,435

—

Fixed Rate Residential Mortgage Loan

$9,500,000–$9,749,000

8.50%

1/24

n/a

5,928

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$0–$249,999

1457

3.25%–8.50%

1/47–7/62

n/a

217,151

579

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$250,000–$499,999

1293

3.13%–8.38%

12/34–6/62

n/a

382,551

4,861

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$500,000–$749,999

529

3.00%–8.00%

11/47–6/62

n/a

271,827

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$750,000–$999,999

230

3.25%–7.63%

2/37–5/62

n/a

165,821

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$1,000,000–$1,249,999

122

3.25%–6.38%

10/48–6/62

n/a

114,709

1,200

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$1,250,000–$1,499,999

3.25%–6.88%

10/48–5/62

n/a

109,266

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$1,500,000–$1,749,999

3.25%–6.25%

11/47–5/62

n/a

69,930

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$1,750,000–$1,999,999

3.25%–6.88%

4/50–6/62

n/a

47,257

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$2,000,000–$2,249,999

3.25%–6.38%

4/50–7/62

n/a

27,092

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$2,250,000–$2,499,999

3.63%–5.99%

10/50–9/61

n/a

21,779

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$2,500,000–$2,749,999

3.25%–5.25%

1/51–1/62

n/a

22,184

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$2,750,000–$2,999,999

3.25%–5.00%

2/51–11/61

n/a

14,174

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$3,000,000–$3,249,000

3.38%–5.75%

10/50–1/62

n/a

17,917

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$3,250,000–$3,499,000

4.50%

4/51–9/61

n/a

5,442

—

Total Residential Mortgage Loans

3,115,518

50,994

Asset Type

Description

Number of Loans

Interest Rate

Maturity Date

Periodic Payment Terms

Prior Liens

Face Amount of Mortgages

Carrying Amount of Mortgages(1)(2)

Principal Amount of loans subject to delinquent principal or interest

Commercial Mortgage Loans:

(In thousands)

Adjustable Rate Commercial Mortgage Loan

$0–$4,999,999

9.98%–12.13%

4/23–9/24

n/a

25,684

—

Adjustable Rate Commercial Mortgage Loan

$5,000,000–$9,999,999

8.86%–12.23%

1/23–8/24

n/a

178,689

—

Adjustable Rate Commercial Mortgage Loan

$10,000,000–$14,999,999

8.00%–12.25%

2/23–1/25

n/a

121,555

—

Adjustable Rate Commercial Mortgage Loan

$15,000,000–$19,999,999

11.25%–14.57%

3/23

n/a

36,305

17,656

Adjustable Rate Commercial Mortgage Loan

20,000,000–$24,999,999

10.23%–10.61%

2/24–3/24

n/a

42,091

—

Total Commercial Mortgage Loans

404,324

17,656

Adjustable Rate Reverse Mortgage Loan(3)

$0–$249,999

24,944

1.32%–11.75%

n/a

3,727,832

59,298

Adjustable Rate Reverse Mortgage Loan(3)

$250,000–$499,999

10,187

1.44%–11.75%

n/a

3,537,389

42,434

Adjustable Rate Reverse Mortgage Loan(3)

$500,000–$749,999

562

2.54%–11.75%

n/a

319,604

1,695

Adjustable Rate Reverse Mortgage Loan(3)

$750,000–$999,999

11.39%–11.64%

n/a

6,387

—

Adjustable Rate Reverse Mortgage Loan(3)

$1,500,000–$1,749,999

11.64%–11.64%

n/a

3,809

—

Adjustable Rate Reverse Mortgage Loan(3)

$1,750,000–$1,999,999

11.39%–11.39%

n/a

2,165

—

Fixed Rate Reverse Mortgage Loan(3)

$0–$249,999

853

2.99%–10.24%

n/a

140,803

1,642

Fixed Rate Reverse Mortgage Loan(3)

$250,000–$499,999

824

2.85%–10.49%

n/a

271,509

2,015

Fixed Rate Reverse Mortgage Loan(3)

$500,000–$749,999

2.99%–10.49%

n/a

51,145

—

Fixed Rate Reverse Mortgage Loan(3)

$750,000–$999,999

9.49%–10.63%

n/a

9,618

—

Fixed Rate Reverse Mortgage Loan(3)

$1,000,000–$1,249,999

8.75%–10.38%

n/a

6,653

—

Fixed Rate Reverse Mortgage Loan(3)

$1,250,000–$1,499,999

8.38%–10.38%

n/a

5,318

—

Fixed Rate Reverse Mortgage Loan(3)

$1,500,000–$1,749,999

9.75%–10.49%

n/a

7,962

—

Fixed Rate Reverse Mortgage Loan(3)

$1,750,000–$1,999,999

8.99%–8.99%

n/a

1,825

—

Fixed Rate Reverse Mortgage Loan(3)

$2,250,000–$2,499,999

8.99%–8.99%

n/a

2,304

—

Fixed Rate Reverse Mortgage Loan(3)

$2,750,000–$2,999,999

9.38%–9.38%

n/a

2,914

—

Total Reverse Mortgage Loans

8,097,237

107,084

Total Mortgage Loans

11,617,079

175,734

(1)Aggregate cost for federal income tax purposes is $2.2 billion for commercial and non-securitized residential mortgage loans. Excluded from this amount is the cost basis for federal income tax purposes of $1.7 billion of securitized residential loans and $7.9 billion of reverse mortgage loans that have been pooled into HMBS; such loans have been deemed to be sold for tax purposes but do not meet the requirements for true sale under U.S. GAAP.

(2)As of December 31, 2021, all of the Company's mortgage loans were carried at fair value. See Note 2 and Note 3 in the notes to our consolidated financial statements for additional details.

(3)Maturity date is not applicable for reverse mortgage loans.

The following table presents a roll-forward of the fair value of the Company's mortgage loans on real estate for the years ended December 31, 2022, 2021, and 2020.


	Year Ended December 31,
	2022		2021		2020
(In thousands)
Beginning Balance	$	2,342,425	$	1,400,100	$	1,206,962
Additions:
Purchases	11,325,966		1,949,449		716,241
Net unrealized gain	—		—		11,427
Deductions:
Cost of mortgages sold	(530,171)		(145,755)		(28,613)
Collections of principal	(1,349,308)		(812,988)		(496,186)
Amortization of premium and (discounts)	(13,607)		(13,754)		(6,317)
Foreclosures	(3,128)		(14,033)		(3,384)
Net unrealized loss	(18,299)		(119)		—
Net realized loss	(136,799)		(20,475)		(30)
Ending Balance	$	11,617,079	$	2,342,425	$	1,400,100