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Label Element Value
Residential Mortgage [Member]  
Schedule of Geographic Distribution [Table Text Block] efc_ScheduleOfGeographicDistributionTableTextBlock
The table below summarizes the geographic distribution of the real estate collateral underlying the Company's residential mortgage loans as a percentage of total outstanding unpaid principal balance as of December 31, 2023 and 2022:
Property Location by U.S. StateDecember 31, 2023December 31, 2022
California32.2 %33.2 %
Florida21.4 %17.2 %
Texas9.5 %10.3 %
Utah3.2 %3.4 %
Arizona2.7 %3.1 %
Pennsylvania2.7 %2.3 %
Georgia2.6 %2.6 %
North Carolina2.2 %2.8 %
New Jersey2.1 %1.8 %
Illinois1.8 %1.6 %
Washington1.8 %1.7 %
Colorado1.5 %1.7 %
Massachusetts1.5 %1.9 %
Nevada1.5 %1.8 %
Tennessee1.5 %2.1 %
New York1.2 %1.4 %
Oregon1.2 %1.3 %
Ohio0.9 %1.1 %
Maryland0.8 %1.0 %
Other7.7 %7.7 %
100.0 %100.0 %
Reverse Mortgage Loans [Member]  
Schedule of Geographic Distribution [Table Text Block] efc_ScheduleOfGeographicDistributionTableTextBlock
The table below summarizes the geographic distribution of the real estate collateral underlying the Company's reverse mortgage loans as a percentage of total outstanding unpaid principal balance, as of December 31, 2023 and December 31, 2022.
Property Location by U.S. StateDecember 31, 2023December 31, 2022
California28.7 %31.5 %
Florida8.8 %9.1 %
Colorado7.1 %6.4 %
Arizona6.3 %5.7 %
Washington5.3 %4.9 %
Utah5.0 %4.5 %
Texas4.8 %4.0 %
Oregon3.0 %2.8 %
Idaho2.7 %2.3 %
Massachusetts2.4 %2.4 %
New York2.2 %2.2 %
Nevada2.1 %2.1 %
North Carolina2.1 %1.9 %
Virginia1.6 %1.7 %
Georgia1.6 %1.3 %
Ohio1.5 %1.5 %
South Carolina1.4 %1.4 %
New Jersey1.3 %1.4 %
Tennessee1.3 %1.1 %
Maryland1.1 %1.4 %
Pennsylvania1.1 %1.2 %
Other8.6 %9.2 %
100.0 %100.0 %
Commercial Mortgage Loans [Member]  
Schedule of Geographic Distribution [Table Text Block] efc_ScheduleOfGeographicDistributionTableTextBlock
The table below summarizes the geographic distribution of the real estate collateral underlying the Company's commercial mortgage loans as a percentage of total outstanding unpaid principal balance as of December 31, 2023 and 2022:
Property Location by U.S. StateDecember 31, 2023December 31, 2022
Illinois18.6 %4.6 %
Texas15.6 %13.4 %
Florida13.9 %20.5 %
New York8.9 %9.4 %
Arizona7.5 %9.0 %
Oklahoma6.0 %4.2 %
Ohio5.5 %3.8 %
Georgia5.3 %5.4 %
Michigan4.5 %5.5 %
New Jersey3.8 %6.2 %
Connecticut3.2 %2.2 %
North Carolina2.7 %3.7 %
Alabama2.3 %— %
Louisiana2.2 %1.5 %
Massachusetts— %5.5 %
New Hampshire— %2.2 %
Pennsylvania— %1.5 %
Other— %1.4 %
100.0 %100.0 %
Arlington Asset Investment Corp. [Member]  
Schedule of Income from Acquiree Subsequent to Business Combination [Table Text Block] efc_ScheduleOfIncomeFromAcquireeSubsequentToBusinessCombinationTableTextBlock
The following table summarizes interest income, total other income (loss), and net income (loss) of the net assets of Arlington that have been recognized by the Company from the Arlington Merger Consummation Date through December 31, 2023.
(In thousands)Year Ended December 31, 2023
Interest income$2,192 
Total other income (loss)(1,110)
Net Income (Loss)(958)
Schedule of Business Acquisitions, by Acquisition [Table Text Block] us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
The following table summarizes the Company’s preliminary purchase price allocation as of the Arlington Merger Consummation Date:
(In thousands)December 14, 2023
Purchase price(1)
Common stock(2)
$140,119 
Preferred equity(3)
31,631 
Cash5,552 
Total consideration$177,302 
Allocated to:
Assets:
Securities, at fair value$645,708 
Forward MSR-related investments, at fair value
177,421 
Other assets71,157 
Total assets acquired894,286 
Liabilities:
Repurchase agreements590,928 
Unsecured borrowings, at fair value81,077 
Other liabilities16,804 
Total liabilities assumed688,809 
Total net assets acquired205,477 
Bargain purchase gain$28,175 
(1)Similar to the Company, Arlington elected to be taxed as a real estate investment trust under the Code. As of December 14, 2023, Arlington had an estimated federal net operating loss carryforward and also had an estimated federal net capital loss carryforward. The Company evaluated the attributes of these loss carryforwards and the extent to which, and likelihood, that the Company would utilize them in part or in whole, taking into account the corporate structure of the Company subsequent to the consummation of the Arlington Merger, the uncertainty of projecting operating gains and/or capital gains in its domestic corporate blockers, and limitations on the utilization of such carryforwards imposed by U.S. Code section 382. Based on this evaluation, the Company does not expect to recognize any deferred tax assets with respect to these net operating and capital loss carryforwards, and has not recognized any such deferred tax assets in this preliminary purchase price allocation. If the Company subsequently determines that it is likely to utilize these loss carryforwards, in part or in whole, this could have a material effect on the purchase price allocation once finalized.
(2)Fair value uses the closing price of the Company’s common stock on the day prior to the Closing Date, as reported by the NYSE, of $13.04.
(3)Fair value of the EFC Series D Preferred Stock and the EFC Series E Preferred Stock are based on the closing price, as reported by the NYSE, on the day prior to the Closing Date, for the Arlington Series B Preferred Stock of $21.17 and Arlington Series C Preferred Stock of $24.65, respectively.
Longbridge Financial LLC [Member]  
Schedule of Income from Acquiree Subsequent to Business Combination [Table Text Block] efc_ScheduleOfIncomeFromAcquireeSubsequentToBusinessCombinationTableTextBlock
The following table summarizes interest income, total other income (loss), and net income (loss) of Longbridge that has been recognized by the Company in the Consolidated Statement of Operations subsequent to the date of the Longbridge Transaction.
Year Ended December 31,
(In thousands)20232022
Interest income$18,913 $2,859 
Total other income (loss)118,512 39,935 
Net Income (Loss)9,736 14,492 
Schedule of Business Acquisitions, by Acquisition [Table Text Block] us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
The following table summarizes the Company’s purchase price allocation as of the acquisition date:
October 3, 2022
Purchase Price:(In thousands)
Cash$38,886 
Investment in unconsolidated entity, at fair value38,886 
Total Consideration77,772 
Allocated to:
Cash and cash equivalents20,368 
Restricted cash2,250 
Loans, at fair value7,698,426 
Loan commitments, at fair value3,090 
Forward MSR-related investments, at fair value
8,174 
Real estate owned8,511 
Financial derivatives—assets, at fair value7,121 
Due from brokers7,534 
Other assets51,475 
Intangible assets, net(2)
3,500 
Total assets acquired7,810,449 
HMBS related obligations, at fair value 7,448,524 
Other secured borrowings218,261 
Interest payable1,273 
Accrued expenses and other liabilities51,592 
Total liabilities assumed7,719,650 
Total identifiable net assets90,799 
Non-controlling interests(1)
2,237 
Total net assets acquired88,562 
Deferred tax liability related to bargain purchase gain2,858 
Total net assets acquired less deferred tax liability85,704 
Bargain purchase gain$7,932 
(1)Represents net assets of Longbridge not acquired by the Company.
(2)See Note 11 for additional details on intangibles assets acquired by the Company.