v3.20.4

Investment in Securities (Summary of Investment in Securities) (Details) - USD ($) $ in Thousands | 12 Months Ended |
--- | --- | ---
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | $ 1,408,233 | $ 2,282,149 |
Unamortized Premium (Discount) |  | (196,118) | (150,821) |
Amortized Cost |  | 1,474,155 | 2,342,369 |
Gross Unrealized Gains |  | 60,617 | 43,801 |
Gross Unrealized Losses |  | (59,229) | (9,638) |
Investment Owned At Fair Value, Net |  | 1,475,543 | 2,376,532 |
Securities, at fair value(1)(2) | [1],[2] | 1,514,185 | 2,449,941 |
Securities sold short, at fair value |  | $ (38,642) | $ (73,409) | $ (850,577)
Fair Value |  |  |  | $ 2,939,311
Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 3.92% | 4.23% |
Weighted Average Yield |  | 4.77% | 4.01% |
Weighted average life |  | 4 years 5 months 26 days | 5 years 10 months 24 days |
Long |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | $ 1,446,237 | $ 2,355,498 |
Unamortized Premium (Discount) |  | (199,280) | (151,329) |
Amortized Cost |  | 1,508,997 | 2,415,210 |
Gross Unrealized Gains |  | 60,617 | 43,738 |
Gross Unrealized Losses |  | (55,429) | (9,007) |
Securities, at fair value(1)(2) |  | $ 1,514,185 | $ 2,449,941 |
Long | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 3.84% | 4.15% |
Weighted Average Yield |  | 4.88% | 4.09% |
Weighted average life |  | 4 years 5 months 12 days | 5 years 10 months 17 days |
Long | 15-year fixed-rate mortgages |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | $ 67,875 | $ 314,636 |
Unamortized Premium (Discount) |  | 2,543 | 6,369 |
Amortized Cost |  | 70,418 | 321,005 |
Gross Unrealized Gains |  | 1,832 | 2,604 |
Gross Unrealized Losses |  | (36) | (203) |
Securities, at fair value(1)(2) |  | $ 72,214 | $ 323,406 |
Long | 15-year fixed-rate mortgages | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 3.30% | 3.05% |
Weighted Average Yield |  | 1.83% | 2.28% |
Weighted average life |  | 3 years 2 months 26 days | 3 years 18 days |
Long | 20-year fixed-rate mortgages |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | $ 50,131 | $ 804 |
Unamortized Premium (Discount) |  | 3,097 | 49 |
Amortized Cost |  | 53,228 | 853 |
Gross Unrealized Gains |  | 182 | 24 |
Gross Unrealized Losses |  | 0 | 0 |
Securities, at fair value(1)(2) |  | $ 53,410 | $ 877 |
Long | 20-year fixed-rate mortgages | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 2.57% | 4.62% |
Weighted Average Yield |  | 1.08% | 2.99% |
Weighted average life |  | 4 years 5 months 15 days | 4 years 9 months 18 days |
Long | 30-year fixed-rate mortgages |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | $ 626,021 | $ 1,358,762 |
Unamortized Premium (Discount) |  | 30,738 | 64,846 |
Amortized Cost |  | 656,759 | 1,423,608 |
Gross Unrealized Gains |  | 25,765 | 13,821 |
Gross Unrealized Losses |  | (444) | (2,830) |
Securities, at fair value(1)(2) |  | $ 682,080 | $ 1,434,599 |
Long | 30-year fixed-rate mortgages | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 3.99% | 4.20% |
Weighted Average Yield |  | 2.35% | 2.95% |
Weighted average life |  | 4 years 2 months 1 day | 6 years 7 months 17 days |
Long | Adjustable rate mortgages |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | $ 6,171 | $ 9,651 |
Unamortized Premium (Discount) |  | 159 | 315 |
Amortized Cost |  | 6,330 | 9,966 |
Gross Unrealized Gains |  | 124 | 90 |
Gross Unrealized Losses |  | 0 | (54) |
Securities, at fair value(1)(2) |  | $ 6,454 | $ 10,002 |
Long | Adjustable rate mortgages | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 3.66% | 3.99% |
Weighted Average Yield |  | 2.27% | 2.03% |
Weighted average life |  | 3 years 5 months 1 day | 4 years 1 month 2 days |
Long | Reverse mortgages |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | $ 89,383 | $ 122,670 |
Unamortized Premium (Discount) |  | 5,152 | 8,133 |
Amortized Cost |  | 94,535 | 130,803 |
Gross Unrealized Gains |  | 3,123 | 2,023 |
Gross Unrealized Losses |  | (29) | (26) |
Securities, at fair value(1)(2) |  | $ 97,629 | $ 132,800 |
Long | Reverse mortgages | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 3.97% | 4.43% |
Weighted Average Yield |  | 2.37% | 2.78% |
Weighted average life |  | 4 years 7 months 6 days | 6 years 8 months 1 day |
Long | Interest only securities |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Amortized Cost |  | $ 43,406 | $ 34,044 |
Gross Unrealized Gains |  | 5,808 | 1,624 |
Gross Unrealized Losses |  | (1,558) | (389) |
Securities, at fair value(1)(2) |  | $ 47,656 | $ 35,279 |
Long | Interest only securities | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 3.36% | 2.81% |
Weighted Average Yield |  | 10.01% | 9.27% |
Weighted average life |  | 4 years 10 months 6 days | 3 years 10 months 9 days |
Long | Non-Agency RMBS |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | $ 321,842 | $ 274,353 |
Unamortized Premium (Discount) |  | (131,083) | (122,685) |
Amortized Cost |  | 190,759 | 151,668 |
Gross Unrealized Gains |  | 15,880 | 12,549 |
Gross Unrealized Losses |  | (5,549) | (1,081) |
Securities, at fair value(1)(2) |  | $ 201,090 | $ 163,136 |
Long | Non-Agency RMBS | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 3.15% | 3.41% |
Weighted Average Yield |  | 6.40% | 7.25% |
Weighted average life |  | 5 years 5 months 15 days | 5 years 3 months 21 days |
Long | CMBS |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | $ 188,085 | $ 185,417 |
Unamortized Premium (Discount) |  | (61,763) | (67,961) |
Amortized Cost |  | 126,322 | 117,456 |
Gross Unrealized Gains |  | 1,655 | 2,990 |
Gross Unrealized Losses |  | (16,910) | (480) |
Securities, at fair value(1)(2) |  | $ 111,067 | $ 119,966 |
Long | CMBS | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 2.71% | 3.31% |
Weighted Average Yield |  | 7.47% | 6.62% |
Weighted average life |  | 8 years 1 month 2 days | 8 years 11 months 8 days |
Long | Non-Agency IOs |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Amortized Cost |  | $ 8,123 | $ 6,517 |
Gross Unrealized Gains |  | 1,792 | 1,817 |
Gross Unrealized Losses |  | (305) | (18) |
Securities, at fair value(1)(2) |  | $ 9,610 | $ 8,316 |
Long | Non-Agency IOs | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 1.17% | 1.10% |
Weighted Average Yield |  | 18.85% | 8.18% |
Weighted average life |  | 3 years 5 months 26 days | 4 years 1 month 20 days |
Long | CLOs |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Amortized Cost |  | $ 208,907 | $ 169,238 |
Gross Unrealized Gains |  | 2,563 | 4,219 |
Gross Unrealized Losses |  | (30,199) | (3,014) |
Securities, at fair value(1)(2) |  | $ 181,271 | $ 170,443 |
Long | CLOs | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 3.67% | 5.05% |
Weighted Average Yield |  | 8.50% | 9.62% |
Weighted average life |  | 3 years 6 months | 4 years 9 months |
Long | Asset-backed securities, backed by consumer loans |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | $ 69,646 | $ 67,080 |
Unamortized Premium (Discount) |  | (24,936) | (19,154) |
Amortized Cost |  | 44,710 | 47,926 |
Gross Unrealized Gains |  | 221 | 1,596 |
Gross Unrealized Losses |  | (6) | (912) |
Securities, at fair value(1)(2) |  | $ 44,925 | $ 48,610 |
Long | Asset-backed securities, backed by consumer loans | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 11.95% | 12.17% |
Weighted Average Yield |  | 18.57% | 14.00% |
Weighted average life |  | 1 year 1 month 9 days | 1 year 2 months 19 days |
Long | Corporate debt securities |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | $ 27,083 | $ 22,125 |
Unamortized Premium (Discount) |  | (23,187) | (21,241) |
Amortized Cost |  | 3,896 | 884 |
Gross Unrealized Gains |  | 1,296 | 229 |
Gross Unrealized Losses |  | (3) | 0 |
Securities, at fair value(1)(2) |  | $ 5,189 | $ 1,113 |
Long | Corporate debt securities | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 2.13% | 0.00% |
Weighted Average Yield |  | 6.75% | 0.00% |
Weighted average life |  | 3 years 1 month 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)(2) |  | 1,590 | 1,394 |
Corporate equity, gross unrealized gains |  | 376 | 152 |
Corporate equity, gross unrealized losses |  | (390) | 0 |
Short |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | (38,004) | (73,349) |
Unamortized Premium (Discount) |  | 3,162 | 508 |
Investment Sold, Not yet Purchased, Sale Proceeds |  | (34,842) | (72,841) |
Gross Unrealized Gains |  | 0 | 63 |
Gross Unrealized Losses |  | (3,800) | (631) |
Securities sold short, at fair value |  | $ (38,642) | $ (73,409) |
Short | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 0.26% | 1.65% |
Weighted Average Yield |  | 0.09% | 1.66% |
Weighted average life |  | 3 years 1 month 17 days | 5 years 5 months 26 days |
Short | Corporate debt securities |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | $ (200) | $ (450) |
Unamortized Premium (Discount) |  | (1) | (6) |
Investment Sold, Not yet Purchased, Sale Proceeds |  | (201) | (456) |
Gross Unrealized Gains |  | 0 | 0 |
Gross Unrealized Losses |  | (17) | (15) |
Securities sold short, at fair value |  | $ (218) | $ (471) |
Short | Corporate debt securities | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 5.09% | 5.44% |
Weighted Average Yield |  | 4.67% | 5.21% |
Weighted average life |  | 6 years 5 months 1 day | 4 years 10 months 24 days |
Short | U.S. Treasury securities |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  |  | $ (63,140) |
Unamortized Premium (Discount) |  |  | 381 |
Investment Sold, Not yet Purchased, Sale Proceeds |  |  | (62,759) |
Gross Unrealized Gains |  |  | 63 |
Gross Unrealized Losses |  |  | (298) |
Securities sold short, at fair value |  |  | $ (62,994) |
Short | U.S. Treasury securities | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  |  | 1.76% |
Weighted Average Yield |  |  | 1.87% |
Weighted average life |  |  | 6 years 1 month 9 days |
Short | European sovereign bonds |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Current Principal |  | $ (37,804) | $ (9,759) |
Unamortized Premium (Discount) |  | 3,163 | 133 |
Investment Sold, Not yet Purchased, Sale Proceeds |  | (34,641) | (9,626) |
Gross Unrealized Gains |  | 0 | 0 |
Gross Unrealized Losses |  | (3,783) | (318) |
Securities sold short, at fair value |  | $ (38,424) | $ (9,944) |
Short | European sovereign bonds | Weighted Average |  |  |  |
Securities, Available-for-sale [Line Items] |  |  |  |
Weighted Average Coupon |  | 0.23% | 0.77% |
Weighted Average Yield |  | 0.06% | 0.12% |
Weighted average life |  | 3 years 1 month 9 days | 1 year 6 months 29 days |
[1] | Ellington Financial Inc.'s 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.
[2] | Includes assets pledged as collateral to counterparties. See Note 11 for additional details on the Company's borrowings and related collateral.

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