Profile: Ellington Residential Mortgage REIT (EARN.N)
Ellington Residential Mortgage REIT, incorporated on August 2, 2012, is a real estate investment trust. The Company is specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets. The Company’s primary objective is to generate current yields and risk-adjusted total returns for its shareholders by making investments. The Company’s acquire non-Agency RMBS backed by prime jumbo, Alt-A, subprime, manufactured housing and second lien mortgage loans. The residential mortgage loans securing its non-Agency RMBS will be either fixed-rate mortgages, Adjustable Rate Mortgage (ARMs), option-ARMs, Neg-Am ARMs or hybrid ARMs. The Company’s non-Agency RMBS holdings can include investment-grade and non-investment grade classes, including the BB-rated, B-rated and non-rated classes.
The Agency RMBS the Company’s intend to acquire may include mortgage pass-through certificates, CMOs, and TBAs. Residential mortgage pass-through certificates represent interests in pools of mortgage loans secured by residential real property where payments of both interest and principal, plus pre-paid principal, on the underlying residential mortgage loans are made monthly to holders of the certificates, in effect passing through monthly payments made by the individual borrowers on the mortgage loans that underlie the securities, net of fees paid to the issuer/guarantor and servicers of the securities. Collateralized Mortgage Obligations (CMOs) are structured instruments representing interests in specified mortgage loan collateral. CMO securitizations consist of multiple classes, or tranches, of securities, with each tranche having specified characteristics, based on the rules described in the securitization documents governing the division of the monthly principal and interest distributions, including prepayments, from the underlying mortgage collateral among the various tranches.
Ellington Residential Mortgage REIT
53 FOREST AVENUE
OLD GREENWICH CT 06870