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

12 Months Ended

Dec. 31, 2023

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, 2023

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

6.75%–7.88%

10/34–12/48

n/a

691

—

Adjustable Rate Residential Mortgage Loan

$250,000–$499,999

6.50%–9.25%

11/47–10/49

n/a

2,560

1,576

Adjustable Rate Residential Mortgage Loan

$500,000–$749,999

3.00%–7.37%

7/35–10/49

n/a

3,188

2,631

Adjustable Rate Residential Mortgage Loan

$750,000–$999,999

6.25%–7.75%

12/48–7/52

n/a

2,520

1,653

Adjustable Rate Residential Mortgage Loan

$1,000,000–$1,249,999

5.75%

7/52

n/a

1,008

—

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$0–$249,999

185

4.00%–9.99%

8/46–4/50

n/a

26,489

899

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$250,000–$499,999

177

4.50%–10.25%

5/46–2/60

n/a

50,036

1,789

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$500,000–$749,999

4.50%–8.25%

1/47–3/60

n/a

30,210

682

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$750,000–$999,999

4.13%–8.38%

2/47–7/59

n/a

15,004

893

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$1,000,000–$1,249,999

4.24%–9.88%

3/47–11/61

n/a

14,658

—

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$1,250,000–$1,499,999

4.50%–11.13%

11/46–2/60

n/a

7,195

—

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

3,010

—

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

6,248

—

Adjustable Rate Residential Mortgage Loan Held in Securitization Trust

$2,500,000–$2,749,999

4.25%

11/61

n/a

2,162

—

Fixed Rate Residential Mortgage Loan

$0–$249,999

2,065

3.00%–16.25%

1/24–1/64

n/a

302,328

18,356

Fixed Rate Residential Mortgage Loan

$250,000–$499,999

1,310

3.00%–15.50%

1/24–1/64

n/a

392,023

28,621

Fixed Rate Residential Mortgage Loan

$500,000–$749,999

384

3.38%–14.75%

1/24–10/63

n/a

202,469

11,181

Fixed Rate Residential Mortgage Loan

$750,000–$999,999

227

3.38%–12.75%

1/24–9/63

n/a

163,669

12,350

Fixed Rate Residential Mortgage Loan

$1,000,000–$1,249,999

134

3.38%–12.99%

1/24–10/63

n/a

122,918

4,446

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

$1,250,000–$1,499,999

3.50%–12.00%

1/24–6/63

n/a

86,922

6,959

Fixed Rate Residential Mortgage Loan

$1,500,000–$1,749,999

3.25%–12.25%

1/24–1/63

n/a

62,994

3,729

Fixed Rate Residential Mortgage Loan

$1,750,000–$1,999,999

3.38%–11.99%

1/24–9/53

n/a

48,664

6,650

Fixed Rate Residential Mortgage Loan

$2,000,000–$2,249,999

3.25%–12.00%

2/24–3/62

n/a

36,509

1,386

Fixed Rate Residential Mortgage Loan

$2,250,000–$2,499,999

7.49%–12.00%

2/24–12/53

n/a

17,665

2,250

Fixed Rate Residential Mortgage Loan

$2,500,000–$2,749,999

3.63%–12.00%

2/24–12/53

n/a

24,172

2,368

Fixed Rate Residential Mortgage Loan

$2,750,000–$2,999,999

7.75%–11.50%

2/24–1/53

n/a

17,306

4,754

Fixed Rate Residential Mortgage Loan

$3,000,000–$3,249,000

3.75%–9.49%

2/24–3/52

n/a

6,459

—

Fixed Rate Residential Mortgage Loan

$3,250,000–$3,499,000

8.99%–11.88%

3/24–11/24

n/a

2,975

—

Fixed Rate Residential Mortgage Loan

$3,500,000–$3,749,000

10.99%

1/24

n/a

3,561

—

Fixed Rate Residential Mortgage Loan

$4,000,000–$4,249,999

8.55%

4/24

n/a

2,843

—

Fixed Rate Residential Mortgage Loan

$4,250,000-$4,499,999

11.75%

5/25

n/a

8,833

—

Fixed Rate Residential Mortgage Loan

$4,500,000-$4,749,999

10.99%

11/24

n/a

3,736

—

Fixed Rate Residential Mortgage Loan

$5,500,000-$5,749,999

10.99%–11.50%

7/24–12/24

n/a

9,924

—

Fixed Rate Residential Mortgage Loan

$8,500,000–$8,749,000

10.00%

2/24

n/a

3,087

—

Fixed Rate Residential Mortgage Loan

$9,500,000–$9,799,000

11.99%

10/24

n/a

9,517

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$0–$249,999

1,359

3.25%–8.50%

1/47–7/62

n/a

203,382

2,798

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$250,000–$499,999

1,217

3.13%–8.38%

12/34–6/62

n/a

362,602

5,139

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$500,000–$749,999

493

3.00%–8.00%

11/47–6/62

n/a

254,267

1,986

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$750,000–$999,999

211

3.25%–7.63%

2/37–5/62

n/a

153,683

3,389

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$1,000,000–$1,249,999

113

3.25%–6.38%

10/48–6/62

n/a

107,276

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

106,424

—

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

66,885

—

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

45,506

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$2,000,000–$2,249,999

3.25%–6.13%

4/50–7/62

n/a

24,807

—

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

22,102

—

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 Held in Securitization Trust

$2,500,000–$2,749,999

3.25%–5.25%

1/51–7/61

n/a

20,335

—

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

11,991

—

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

15,552

—

Fixed Rate Residential Mortgage Loan Held in Securitization Trust

$3,250,000–$3,499,000

4.50%

4/51–9/61

n/a

5,547

—

Total Residential Mortgage Loans

3,093,912

127,685

Commercial Mortgage Loans:

Adjustable Rate Commercial Mortgage Loan

$0–$4,999,999

11.84%

9/24

n/a

1,515

—

Adjustable Rate Commercial Mortgage Loan

$5,000,000–$9,999,999

9.83%–13.24%

1/24–10/25

n/a

142,483

—

Adjustable Rate Commercial Mortgage Loan

$10,000,000–$14,999,999

10.74%–13.10%

2/24–12/24

n/a

70,024

10,400

Adjustable Rate Commercial Mortgage Loan(3)

$15,000,000–$19,999,999

13.46%

n/a

14,725

15,500

Adjustable Rate Commercial Mortgage Loan

20,000,000–$24,999,999

5.75%–11.24%

3/24–7/24

n/a

26,248

21,836

Adjustable Rate Commercial Mortgage Loan

25,000,000–$29,999,999

10.30%

12/25

n/a

11,600

—

Total Commercial Mortgage Loans

266,595

47,736

Reverse Mortgage Loans:

Adjustable Rate Reverse Mortgage Loan(4)

$0–$249,999

24,490

3.16%–12.40%

n/a

3,653,580

87,166

Adjustable Rate Reverse Mortgage Loan(4)

$250,000–$499,999

11,040

3.16%–12.40%

n/a

3,915,381

80,653

Adjustable Rate Reverse Mortgage Loan(4)

$500,000–$749,999

1,126

3.79%–12.40%

n/a

650,746

28,992

Adjustable Rate Reverse Mortgage Loan(4)

$750,000–$999,999

7.13%–12.40%

n/a

35,470

1,586

Adjustable Rate Reverse Mortgage Loan(4)

$1,000,000–$1,249,999

12.04%–12.40%

n/a

7,251

1,061

Adjustable Rate Reverse Mortgage Loan(4)

$1,250,000–$1,499,999

11.64%–12.29%

n/a

8,189

—

Adjustable Rate Reverse Mortgage Loan(4)

$1,750,000–$1,999,999

12.29%

n/a

1,967

—

Adjustable Rate Reverse Mortgage Loan(4)

$2,000,000–$2,249,999

12.04%–12.29%

n/a

4,727

—

Fixed Rate Reverse Mortgage Loan(4)

$0–$249,999

786

2.99%–10.99%

n/a

132,479

3,810

Fixed Rate Reverse Mortgage Loan(4)

$250,000–$499,999

875

2.85%–10.99%

n/a

291,785

4,302

Fixed Rate Reverse Mortgage Loan(4)

$500,000–$749,999

187

2.99%–10.99%

n/a

104,223

2,191

Fixed Rate Reverse Mortgage Loan(4)

$750,000–$999,999

5.81%–10.99%

n/a

38,389

1,664

Fixed Rate Reverse Mortgage Loan(4)

$1,000,000–$1,249,999

8.99%–10.49%

n/a

32,464

—

Fixed Rate Reverse Mortgage Loan(4)

$1,250,000–$1,499,999

8.38%–10.75%

n/a

21,541

—

Fixed Rate Reverse Mortgage Loan(4)

$1,500,000–$1,749,999

9.75%–10.38%

n/a

10,411

1,561

Fixed Rate Reverse Mortgage Loan(4)

$1,750,000–$1,999,999

8.99%–10.49%

n/a

9,972

—

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

Reverse Mortgage Loans (Continued):

(In thousands)

Fixed Rate Reverse Mortgage Loan(4)

$2,000,000–$2,249,999

8.99%–10.13%

n/a

4,470

—

Fixed Rate Reverse Mortgage Loan(4)

$2,250,000–$2,499,999

8.99%–9.75%

n/a

5,278

—

Fixed Rate Reverse Mortgage Loan(4)

$2,500,000–$2,749,999

10.74%

n/a

2,769

—

Fixed Rate Reverse Mortgage Loan(4)

$3,000,000–$3,249,000

9.38%

n/a

3,111

—

Fixed Rate Reverse Mortgage Loan(4)

$3,750,000–$3,999,000

9.99%

n/a

4,348

—

Total Reverse Mortgage Loans

8,938,551

212,986

Total Mortgage Loans

12,299,058

388,407

(1)Aggregate cost for federal income tax purposes is $1.8 billion for commercial and non-securitized residential mortgage loans. Excluded from this amount is the cost basis for federal income tax purposes of $1.6 billion of securitized residential loans and $8.2 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, 2023, 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)In foreclosure, maturity date past due.

(4)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, 2023, 2022, and 2021.


	Year Ended December 31,
	2023		2022		2021
(In thousands)
Beginning Balance	$	11,617,079	$	2,342,425	$	1,400,100
Additions:
Purchases	3,349,900		11,325,966		1,949,449
Net unrealized gain	620,451		—		—
Deductions:
Cost of mortgages sold	(501,593)		(530,171)		(145,755)
Collections of principal	(2,728,769)		(1,349,308)		(812,988)
Amortization of premium and (discounts)	(8,336)		(13,607)		(13,754)
Foreclosures	(35,223)		(3,128)		(14,033)
Net unrealized loss	—		(18,299)		(119)
Net realized loss	(14,451)		(136,799)		(20,475)
Ending Balance	$	12,299,058	$	11,617,079	$	2,342,425