Exhibit 21.1

List of Subsidiaries of Ellington Financial Inc.

Name						State of Incorporation or Organization
EF Mortgage LLC						Delaware
EF Securities LLC						Delaware
EF CMO LLC						Delaware
Ellington Financial Operating Partnership LLC						Delaware
EF Corporate Holdings LLC						Delaware
EF MBS/ABS Holdings LLC						Delaware
EFQ LLC						Delaware
EF SBC 2013-1 LLC						Delaware
EF Holdco Inc.						Delaware
EF Cayman Holdings Ltd.						Cayman Islands
EF SBC 2013-1 REO Holdings LLC						Delaware
EF CH LLC						Delaware
Ellington Financial REIT						Maryland
EF Residential Loans LLC						Delaware
EF SBC 2015-2 LLC						Delaware
Ellington Financial REIT TRS LLC						Delaware
EF SBC 2015-1 LLC						Delaware
EF CH2 LLC						Delaware
EF CH3 LLC						Delaware
EF CH4 LLC						Delaware
EF NM 2015-1 LLC						Delaware
EF SBC 2016-1 LLC						Delaware
EF Holdco WRE Assets LLC						Delaware
EF Holdco RER Assets LLC						Delaware
EF Holdco AL Assets LLC						Delaware
EF Titan SBC 2016-1 LLC						Delaware
EF SBC FM Holdings LLC						Delaware
EF Edgewood SBC 2016-1 LLC						Delaware
EF Edgewood SBC 2018-1 LLC						Delaware
EF Mortgage Depositor LLC						Delaware
EF Mortgage Depositor II LLC						Delaware
EF Mortgage Depositor III LLC						Delaware
EF Holdco WRE Assets REO LLC						Delaware
Ellington Financial REIT Cayman Ltd.						Cayman Islands
Ellington Financial REIT QLH LLC						Delaware
Armstrong Securities Holdings LLC						Delaware
Armstrong Securities LLC						Connecticut
EF WH LLC						Delaware