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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_009BA9F59D4013396679EF94CF4877C8" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncreaseDecreaseInAccruedLiabilities_B66234E3FBFD04FDE42AEF94CF48FBBF_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedLiabilities_B66234E3FBFD04FDE42AEF94CF48FBBF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accrued Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInAccruedLiabilities_B66234E3FBFD04FDE42AEF94CF48FBBF" xlink:type="locator" />
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    <link:label id="lab_earn_Increasedecreaseininterestpayable_9780676E2E4A7B2BA001EF94CF48CEDA_terseLabel_en-US" xlink:label="lab_earn_Increasedecreaseininterestpayable_9780676E2E4A7B2BA001EF94CF48CEDA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest payable</link:label>
    <link:label id="lab_earn_Increasedecreaseininterestpayable_9780676E2E4A7B2BA001EF94CF48CEDA_label_en-US" xlink:label="lab_earn_Increasedecreaseininterestpayable_9780676E2E4A7B2BA001EF94CF48CEDA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in interest payable</link:label>
    <link:label id="lab_earn_Increasedecreaseininterestpayable_9780676E2E4A7B2BA001EF94CF48CEDA_documentation_en-US" xlink:label="lab_earn_Increasedecreaseininterestpayable_9780676E2E4A7B2BA001EF94CF48CEDA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (decrease) in carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid.</link:label>
    <link:loc xlink:href="earn-20180930.xsd#earn_Increasedecreaseininterestpayable" xlink:label="loc_earn_Increasedecreaseininterestpayable_9780676E2E4A7B2BA001EF94CF48CEDA" xlink:type="locator" />
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    <link:label id="lab_earn_IncreaseDecreaseInManagementFeePayable_E58FD1BCC1D9D193EDCFEF94CF492CEE_terseLabel_en-US" xlink:label="lab_earn_IncreaseDecreaseInManagementFeePayable_E58FD1BCC1D9D193EDCFEF94CF492CEE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fees payable to affiliate</link:label>
    <link:label id="lab_earn_IncreaseDecreaseInManagementFeePayable_E58FD1BCC1D9D193EDCFEF94CF492CEE_label_en-US" xlink:label="lab_earn_IncreaseDecreaseInManagementFeePayable_E58FD1BCC1D9D193EDCFEF94CF492CEE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Management Fee Payable</link:label>
    <link:label id="lab_earn_IncreaseDecreaseInManagementFeePayable_E58FD1BCC1D9D193EDCFEF94CF492CEE_documentation_en-US" xlink:label="lab_earn_IncreaseDecreaseInManagementFeePayable_E58FD1BCC1D9D193EDCFEF94CF492CEE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (decrease) in the amount accrued and payable to the Manager for management fees.</link:label>
    <link:loc xlink:href="earn-20180930.xsd#earn_IncreaseDecreaseInManagementFeePayable" xlink:label="loc_earn_IncreaseDecreaseInManagementFeePayable_E58FD1BCC1D9D193EDCFEF94CF492CEE" xlink:type="locator" />
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_C3E9E75F1393DA91D644EF94CF492ED6_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_C3E9E75F1393DA91D644EF94CF492ED6" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_C3E9E75F1393DA91D644EF94CF492ED6_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_C3E9E75F1393DA91D644EF94CF492ED6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_C3E9E75F1393DA91D644EF94CF492ED6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_C3E9E75F1393DA91D644EF94CF492ED6" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_C3E9E75F1393DA91D644EF94CF492ED6" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_468E99D4C0F62C444DE5EF94CF49B931_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_468E99D4C0F62C444DE5EF94CF49B931" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows provided by (used in) investing activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_468E99D4C0F62C444DE5EF94CF49B931_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_468E99D4C0F62C444DE5EF94CF49B931" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_468E99D4C0F62C444DE5EF94CF49B931" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_468E99D4C0F62C444DE5EF94CF49B931" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_468E99D4C0F62C444DE5EF94CF49B931" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireInvestments_A65DE421F49F0A196AEAEF94CF498D9C_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireInvestments_A65DE421F49F0A196AEAEF94CF498D9C" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Purchases of securities</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireInvestments_A65DE421F49F0A196AEAEF94CF498D9C_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireInvestments_A65DE421F49F0A196AEAEF94CF498D9C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Investments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PaymentsToAcquireInvestments" xlink:label="loc_us-gaap_PaymentsToAcquireInvestments_A65DE421F49F0A196AEAEF94CF498D9C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireInvestments_A65DE421F49F0A196AEAEF94CF498D9C" xlink:to="lab_us-gaap_PaymentsToAcquireInvestments_A65DE421F49F0A196AEAEF94CF498D9C" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromSaleOfOtherInvestments_1D67809C9A3C8ED332AEEF94CF4AFA8F_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfOtherInvestments_1D67809C9A3C8ED332AEEF94CF4AFA8F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sale of securities</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfOtherInvestments_1D67809C9A3C8ED332AEEF94CF4AFA8F_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfOtherInvestments_1D67809C9A3C8ED332AEEF94CF4AFA8F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Other Investments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ProceedsFromSaleOfOtherInvestments" xlink:label="loc_us-gaap_ProceedsFromSaleOfOtherInvestments_1D67809C9A3C8ED332AEEF94CF4AFA8F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfOtherInvestments_1D67809C9A3C8ED332AEEF94CF4AFA8F" xlink:to="lab_us-gaap_ProceedsFromSaleOfOtherInvestments_1D67809C9A3C8ED332AEEF94CF4AFA8F" xlink:type="arc" />
    <link:label id="lab_earn_PrincipalRepaymentsOfSecurities_B39720FA4C16EB8739B0EF94CF4A8828_terseLabel_en-US" xlink:label="lab_earn_PrincipalRepaymentsOfSecurities_B39720FA4C16EB8739B0EF94CF4A8828" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal repayments of mortgage-backed securities</link:label>
    <link:label id="lab_earn_PrincipalRepaymentsOfSecurities_B39720FA4C16EB8739B0EF94CF4A8828_label_en-US" xlink:label="lab_earn_PrincipalRepaymentsOfSecurities_B39720FA4C16EB8739B0EF94CF4A8828" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Principal Repayments of Securities</link:label>
    <link:label id="lab_earn_PrincipalRepaymentsOfSecurities_B39720FA4C16EB8739B0EF94CF4A8828_documentation_en-US" xlink:label="lab_earn_PrincipalRepaymentsOfSecurities_B39720FA4C16EB8739B0EF94CF4A8828" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash inflow associated with the maturity and collection of all investments such as debt during the period.</link:label>
    <link:loc xlink:href="earn-20180930.xsd#earn_PrincipalRepaymentsOfSecurities" xlink:label="loc_earn_PrincipalRepaymentsOfSecurities_B39720FA4C16EB8739B0EF94CF4A8828" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_earn_PrincipalRepaymentsOfSecurities_B39720FA4C16EB8739B0EF94CF4A8828" xlink:to="lab_earn_PrincipalRepaymentsOfSecurities_B39720FA4C16EB8739B0EF94CF4A8828" xlink:type="arc" />
    <link:label id="lab_us-gaap_InvestmentSoldNotYetPurchasedSaleProceeds_73D21213607CDE955856EF94CF4A421D_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentSoldNotYetPurchasedSaleProceeds_73D21213607CDE955856EF94CF4A421D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from investments sold short</link:label>
    <link:label id="lab_us-gaap_InvestmentSoldNotYetPurchasedSaleProceeds_73D21213607CDE955856EF94CF4A421D_label_en-US" xlink:label="lab_us-gaap_InvestmentSoldNotYetPurchasedSaleProceeds_73D21213607CDE955856EF94CF4A421D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Sold, Not yet Purchased, Sale Proceeds</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestmentSoldNotYetPurchasedSaleProceeds" xlink:label="loc_us-gaap_InvestmentSoldNotYetPurchasedSaleProceeds_73D21213607CDE955856EF94CF4A421D" xlink:type="locator" />
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    <link:label id="lab_earn_Repurchaseofinvestmentssoldshort_F4DA73C36AB3812FE086EF94CF4A800D_negatedTerseLabel_en-US" xlink:label="lab_earn_Repurchaseofinvestmentssoldshort_F4DA73C36AB3812FE086EF94CF4A800D" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of investments sold short</link:label>
    <link:label id="lab_earn_Repurchaseofinvestmentssoldshort_F4DA73C36AB3812FE086EF94CF4A800D_label_en-US" xlink:label="lab_earn_Repurchaseofinvestmentssoldshort_F4DA73C36AB3812FE086EF94CF4A800D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repurchase of investments sold short</link:label>
    <link:label id="lab_earn_Repurchaseofinvestmentssoldshort_F4DA73C36AB3812FE086EF94CF4A800D_documentation_en-US" xlink:label="lab_earn_Repurchaseofinvestmentssoldshort_F4DA73C36AB3812FE086EF94CF4A800D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of cash outflow for the repurchase of securities to cover previous short sales.</link:label>
    <link:loc xlink:href="earn-20180930.xsd#earn_Repurchaseofinvestmentssoldshort" xlink:label="loc_earn_Repurchaseofinvestmentssoldshort_F4DA73C36AB3812FE086EF94CF4A800D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities_6544B7B78C08AEE7F312EF94CF4A4730_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities_6544B7B78C08AEE7F312EF94CF4A4730" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from disposition of financial derivatives</link:label>
    <link:label id="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities_6544B7B78C08AEE7F312EF94CF4A4730_label_en-US" xlink:label="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities_6544B7B78C08AEE7F312EF94CF4A4730" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Derivative Instrument, Investing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:label="loc_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities_6544B7B78C08AEE7F312EF94CF4A4730" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities_294CCB1E401A6AAEBD16EF94CF4A0721_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities_294CCB1E401A6AAEBD16EF94CF4A0721" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Purchase of financial derivatives</link:label>
    <link:label id="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities_294CCB1E401A6AAEBD16EF94CF4A0721_label_en-US" xlink:label="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities_294CCB1E401A6AAEBD16EF94CF4A0721" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Derivative Instrument, Investing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:label="loc_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities_294CCB1E401A6AAEBD16EF94CF4A0721" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PaymentsForSecuritiesPurchasedUnderAgreementsToResell_0B436F6F9073DA14EE3BEF94CF4BFE94_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForSecuritiesPurchasedUnderAgreementsToResell_0B436F6F9073DA14EE3BEF94CF4BFE94" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payments made on reverse repurchase agreements</link:label>
    <link:label id="lab_us-gaap_PaymentsForSecuritiesPurchasedUnderAgreementsToResell_0B436F6F9073DA14EE3BEF94CF4BFE94_label_en-US" xlink:label="lab_us-gaap_PaymentsForSecuritiesPurchasedUnderAgreementsToResell_0B436F6F9073DA14EE3BEF94CF4BFE94" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Securities Purchased under Agreements to Resell</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PaymentsForSecuritiesPurchasedUnderAgreementsToResell" xlink:label="loc_us-gaap_PaymentsForSecuritiesPurchasedUnderAgreementsToResell_0B436F6F9073DA14EE3BEF94CF4BFE94" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProceedsFromSecuritiesPurchasedUnderAgreementsToResell_51AEB7B9EE5F3B00CE21EF94CF4B5F2D_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSecuritiesPurchasedUnderAgreementsToResell_51AEB7B9EE5F3B00CE21EF94CF4B5F2D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Securities Purchased under Agreements to Resell</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ProceedsFromSecuritiesPurchasedUnderAgreementsToResell" xlink:label="loc_us-gaap_ProceedsFromSecuritiesPurchasedUnderAgreementsToResell_51AEB7B9EE5F3B00CE21EF94CF4B5F2D" xlink:type="locator" />
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    <link:label id="lab_earn_Duefrombrokersnetinvestingactivities_3FA850849C149B429378EF94CF4B8C0F_negatedTerseLabel_en-US" xlink:label="lab_earn_Duefrombrokersnetinvestingactivities_3FA850849C149B429378EF94CF4B8C0F" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Due from brokers, net</link:label>
    <link:label id="lab_earn_Duefrombrokersnetinvestingactivities_3FA850849C149B429378EF94CF4B8C0F_label_en-US" xlink:label="lab_earn_Duefrombrokersnetinvestingactivities_3FA850849C149B429378EF94CF4B8C0F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Due from brokers, net - investing activities</link:label>
    <link:label id="lab_earn_Duefrombrokersnetinvestingactivities_3FA850849C149B429378EF94CF4B8C0F_documentation_en-US" xlink:label="lab_earn_Duefrombrokersnetinvestingactivities_3FA850849C149B429378EF94CF4B8C0F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">(Increase) decrease in the amount of cash held with a broker or counterparty as collateral/margin related to investing activities.</link:label>
    <link:loc xlink:href="earn-20180930.xsd#earn_Duefrombrokersnetinvestingactivities" xlink:label="loc_earn_Duefrombrokersnetinvestingactivities_3FA850849C149B429378EF94CF4B8C0F" xlink:type="locator" />
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    <link:label id="lab_earn_Duetobrokersnetinvestingactivities_7EE6C142FD3A86A9816AEF94CF4B211B_terseLabel_en-US" xlink:label="lab_earn_Duetobrokersnetinvestingactivities_7EE6C142FD3A86A9816AEF94CF4B211B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Due to brokers, net</link:label>
    <link:label id="lab_earn_Duetobrokersnetinvestingactivities_7EE6C142FD3A86A9816AEF94CF4B211B_label_en-US" xlink:label="lab_earn_Duetobrokersnetinvestingactivities_7EE6C142FD3A86A9816AEF94CF4B211B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Due to brokers, net - investing activities</link:label>
    <link:label id="lab_earn_Duetobrokersnetinvestingactivities_7EE6C142FD3A86A9816AEF94CF4B211B_documentation_en-US" xlink:label="lab_earn_Duetobrokersnetinvestingactivities_7EE6C142FD3A86A9816AEF94CF4B211B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (decrease) in the amount of cash owed to a broker or counterparty which was received by the Company as collateral/margin related to investing activities.</link:label>
    <link:loc xlink:href="earn-20180930.xsd#earn_Duetobrokersnetinvestingactivities" xlink:label="loc_earn_Duetobrokersnetinvestingactivities_7EE6C142FD3A86A9816AEF94CF4B211B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_5D1B21488E33E9DFEBC0EF94CF4C3DF6_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_5D1B21488E33E9DFEBC0EF94CF4C3DF6" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) investing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_5D1B21488E33E9DFEBC0EF94CF4C3DF6_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_5D1B21488E33E9DFEBC0EF94CF4C3DF6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_5D1B21488E33E9DFEBC0EF94CF4C3DF6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_5D1B21488E33E9DFEBC0EF94CF4C3DF6" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_5D1B21488E33E9DFEBC0EF94CF4C3DF6" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9792CEF7EF21A342B420EF94CF4C3083_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9792CEF7EF21A342B420EF94CF4C3083" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows provided by (used in) financing activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9792CEF7EF21A342B420EF94CF4C3083_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9792CEF7EF21A342B420EF94CF4C3083" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9792CEF7EF21A342B420EF94CF4C3083" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9792CEF7EF21A342B420EF94CF4C3083" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_9792CEF7EF21A342B420EF94CF4C3083" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_EA457CC3DA541FCDAA69EF94CF4CA22C_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_EA457CC3DA541FCDAA69EF94CF4CA22C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net proceeds from issuance of common shares</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_EA457CC3DA541FCDAA69EF94CF4CA22C_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_EA457CC3DA541FCDAA69EF94CF4CA22C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Common Stock</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_EA457CC3DA541FCDAA69EF94CF4CA22C" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PaymentsOfStockIssuanceCosts_78CDA49A67DF5DCB8C91EF94CF4CD2B5_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfStockIssuanceCosts_78CDA49A67DF5DCB8C91EF94CF4CD2B5" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Offering costs paid</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts" xlink:label="loc_us-gaap_PaymentsOfStockIssuanceCosts_78CDA49A67DF5DCB8C91EF94CF4CD2B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfStockIssuanceCosts_78CDA49A67DF5DCB8C91EF94CF4CD2B5" xlink:to="lab_us-gaap_PaymentsOfStockIssuanceCosts_78CDA49A67DF5DCB8C91EF94CF4CD2B5" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_C651E032F6AD148B6EC6EF94CF4DE123_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_C651E032F6AD148B6EC6EF94CF4DE123" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of common shares</link:label>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_C651E032F6AD148B6EC6EF94CF4DE123_label_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_C651E032F6AD148B6EC6EF94CF4DE123" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Repurchase of Common Stock</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_C651E032F6AD148B6EC6EF94CF4DE123" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_C651E032F6AD148B6EC6EF94CF4DE123" xlink:to="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_C651E032F6AD148B6EC6EF94CF4DE123" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsOfDividends_CF1881159ECBA73488A2EF94CF4DE520_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends_CF1881159ECBA73488A2EF94CF4DE520" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends paid</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividends_CF1881159ECBA73488A2EF94CF4DE520_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends_CF1881159ECBA73488A2EF94CF4DE520" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Dividends</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PaymentsOfDividends" xlink:label="loc_us-gaap_PaymentsOfDividends_CF1881159ECBA73488A2EF94CF4DE520" xlink:type="locator" />
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    <link:label id="lab_earn_Borrowingsunderrepurchaseagreements_9919D3B7ED85C124454BEF94CF4DF475_terseLabel_en-US" xlink:label="lab_earn_Borrowingsunderrepurchaseagreements_9919D3B7ED85C124454BEF94CF4DF475" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings under repurchase agreements</link:label>
    <link:label id="lab_earn_Borrowingsunderrepurchaseagreements_9919D3B7ED85C124454BEF94CF4DF475_label_en-US" xlink:label="lab_earn_Borrowingsunderrepurchaseagreements_9919D3B7ED85C124454BEF94CF4DF475" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings under repurchase agreements</link:label>
    <link:label id="lab_earn_Borrowingsunderrepurchaseagreements_9919D3B7ED85C124454BEF94CF4DF475_documentation_en-US" xlink:label="lab_earn_Borrowingsunderrepurchaseagreements_9919D3B7ED85C124454BEF94CF4DF475" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash inflow from securities sold under agreements to repurchase.</link:label>
    <link:loc xlink:href="earn-20180930.xsd#earn_Borrowingsunderrepurchaseagreements" xlink:label="loc_earn_Borrowingsunderrepurchaseagreements_9919D3B7ED85C124454BEF94CF4DF475" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_earn_Borrowingsunderrepurchaseagreements_9919D3B7ED85C124454BEF94CF4DF475" xlink:to="lab_earn_Borrowingsunderrepurchaseagreements_9919D3B7ED85C124454BEF94CF4DF475" xlink:type="arc" />
    <link:label id="lab_earn_Repaymentsofrepurchaseagreements_27B9F524ED6ADCCC8D2FEF94CF4DE77B_negatedTerseLabel_en-US" xlink:label="lab_earn_Repaymentsofrepurchaseagreements_27B9F524ED6ADCCC8D2FEF94CF4DE77B" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repayments of repurchase agreements</link:label>
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    <link:label id="lab_earn_Repaymentsofrepurchaseagreements_27B9F524ED6ADCCC8D2FEF94CF4DE77B_documentation_en-US" xlink:label="lab_earn_Repaymentsofrepurchaseagreements_27B9F524ED6ADCCC8D2FEF94CF4DE77B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash outflow from repayments of borrowings from securities sold under agreements to repurchase.</link:label>
    <link:loc xlink:href="earn-20180930.xsd#earn_Repaymentsofrepurchaseagreements" xlink:label="loc_earn_Repaymentsofrepurchaseagreements_27B9F524ED6ADCCC8D2FEF94CF4DE77B" xlink:type="locator" />
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    <link:label id="lab_earn_Duefrombrokersnetfinancingactivities_FDD0FAD9A2253FB04BDCEF94CF4D1705_negatedTerseLabel_en-US" xlink:label="lab_earn_Duefrombrokersnetfinancingactivities_FDD0FAD9A2253FB04BDCEF94CF4D1705" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Due from brokers, net</link:label>
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    <link:label id="lab_earn_Duefrombrokersnetfinancingactivities_FDD0FAD9A2253FB04BDCEF94CF4D1705_documentation_en-US" xlink:label="lab_earn_Duefrombrokersnetfinancingactivities_FDD0FAD9A2253FB04BDCEF94CF4D1705" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">(Increase) decrease in the amount of cash held with a counterparty as collateral related to financing activities.</link:label>
    <link:loc xlink:href="earn-20180930.xsd#earn_Duefrombrokersnetfinancingactivities" xlink:label="loc_earn_Duefrombrokersnetfinancingactivities_FDD0FAD9A2253FB04BDCEF94CF4D1705" xlink:type="locator" />
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_D6273C9512D960C9527A870D304C0C24" xlink:to="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_D6273C9512D960C9527A870D304C0C24" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E9745918924B6411724F870D304C59E4_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E9745918924B6411724F870D304C59E4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E9745918924B6411724F870D304C59E4_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E9745918924B6411724F870D304C59E4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Fair Value Disclosure</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:label="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E9745918924B6411724F870D304C59E4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E9745918924B6411724F870D304C59E4" xlink:to="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_E9745918924B6411724F870D304C59E4" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_3A832234C3F419D37579870D304CEC82_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_3A832234C3F419D37579870D304CEC82" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_3A832234C3F419D37579870D304CEC82" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_3A832234C3F419D37579870D304CEC82" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_3A832234C3F419D37579870D304CEC82" xlink:type="arc" />
    <link:label id="lab_earn_DuefromBrokers_BBCD04BF3D3D5EDE44C4870D304C25A3_terseLabel_en-US" xlink:label="lab_earn_DuefromBrokers_BBCD04BF3D3D5EDE44C4870D304C25A3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Due from brokers</link:label>
    <link:label id="lab_earn_DuefromBrokers_BBCD04BF3D3D5EDE44C4870D304C25A3_label_en-US" xlink:label="lab_earn_DuefromBrokers_BBCD04BF3D3D5EDE44C4870D304C25A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Due from Brokers</link:label>
    <link:label id="lab_earn_DuefromBrokers_BBCD04BF3D3D5EDE44C4870D304C25A3_documentation_en-US" xlink:label="lab_earn_DuefromBrokers_BBCD04BF3D3D5EDE44C4870D304C25A3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of cash held with a broker or counterparty as collateral/margin for investment or derivative security positions. In addition this amount can also include amounts owed to the Company for opened or closed derivative positions.</link:label>
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    <link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_7D86CC1959FE13D0A1E1870D304DA03B_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_7D86CC1959FE13D0A1E1870D304DA03B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase agreements</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:label="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_7D86CC1959FE13D0A1E1870D304DA03B" xlink:type="locator" />
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    <link:label id="lab_earn_Duetobrokers_BC6D6CB99EE0316AE02D870D304D5290_terseLabel_en-US" xlink:label="lab_earn_Duetobrokers_BC6D6CB99EE0316AE02D870D304D5290" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Due to brokers</link:label>
    <link:label id="lab_earn_Duetobrokers_BC6D6CB99EE0316AE02D870D304D5290_label_en-US" xlink:label="lab_earn_Duetobrokers_BC6D6CB99EE0316AE02D870D304D5290" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Due to brokers</link:label>
    <link:label id="lab_earn_Duetobrokers_BC6D6CB99EE0316AE02D870D304D5290_documentation_en-US" xlink:label="lab_earn_Duetobrokers_BC6D6CB99EE0316AE02D870D304D5290" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of cash owed to a broker or counterparty which was received by the Company as collateral/margin for investment or derivative security positions. In addition this amount can also include amounts owed to the broker or counterparty for opened or closed derivative positions.</link:label>
    <link:loc xlink:href="earn-20180930.xsd#earn_Duetobrokers" xlink:label="loc_earn_Duetobrokers_BC6D6CB99EE0316AE02D870D304D5290" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_earn_Duetobrokers_BC6D6CB99EE0316AE02D870D304D5290" xlink:to="lab_earn_Duetobrokers_BC6D6CB99EE0316AE02D870D304D5290" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetsAbstract_A24A7F9B858FC20757B1D4C35CA799F0_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract_A24A7F9B858FC20757B1D4C35CA799F0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ASSETS</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_A24A7F9B858FC20757B1D4C35CA799F0_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract_A24A7F9B858FC20757B1D4C35CA799F0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_A24A7F9B858FC20757B1D4C35CA799F0" xlink:type="locator" />
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    <link:label id="lab_earn_Receivableforsecuritiessold_0126EDE1FA8BAB5A462BD4C35CA783C8_terseLabel_en-US" xlink:label="lab_earn_Receivableforsecuritiessold_0126EDE1FA8BAB5A462BD4C35CA783C8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivable for securities sold</link:label>
    <link:label id="lab_earn_Receivableforsecuritiessold_0126EDE1FA8BAB5A462BD4C35CA783C8_label_en-US" xlink:label="lab_earn_Receivableforsecuritiessold_0126EDE1FA8BAB5A462BD4C35CA783C8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivable for securities sold</link:label>
    <link:label id="lab_earn_Receivableforsecuritiessold_0126EDE1FA8BAB5A462BD4C35CA783C8_documentation_en-US" xlink:label="lab_earn_Receivableforsecuritiessold_0126EDE1FA8BAB5A462BD4C35CA783C8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Includes receivables due from securities sold prior to period end where the transactions have not yet settled. This amount can also include receivables due from securities failed to deliver.</link:label>
    <link:loc xlink:href="earn-20180930.xsd#earn_Receivableforsecuritiessold" xlink:label="loc_earn_Receivableforsecuritiessold_0126EDE1FA8BAB5A462BD4C35CA783C8" xlink:type="locator" />
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    <link:label id="lab_us-gaap_InterestReceivable_CBC3AEFEE8F4876DDE1DD4C35CA7DA0E_terseLabel_en-US" xlink:label="lab_us-gaap_InterestReceivable_CBC3AEFEE8F4876DDE1DD4C35CA7DA0E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest receivable</link:label>
    <link:label id="lab_us-gaap_InterestReceivable_CBC3AEFEE8F4876DDE1DD4C35CA7DA0E_label_en-US" xlink:label="lab_us-gaap_InterestReceivable_CBC3AEFEE8F4876DDE1DD4C35CA7DA0E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Receivable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InterestReceivable" xlink:label="loc_us-gaap_InterestReceivable_CBC3AEFEE8F4876DDE1DD4C35CA7DA0E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OtherAssets_BB4584504AFF26698259D4C35CA76F6C_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets_BB4584504AFF26698259D4C35CA76F6C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssets_BB4584504AFF26698259D4C35CA76F6C_label_en-US" xlink:label="lab_us-gaap_OtherAssets_BB4584504AFF26698259D4C35CA76F6C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherAssets" xlink:label="loc_us-gaap_OtherAssets_BB4584504AFF26698259D4C35CA76F6C" xlink:type="locator" />
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    <link:label id="lab_us-gaap_Assets_2A29D5605582D8F73B41D4C35CA7578A_totalLabel_en-US" xlink:label="lab_us-gaap_Assets_2A29D5605582D8F73B41D4C35CA7578A" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Assets</link:label>
    <link:label id="lab_us-gaap_Assets_2A29D5605582D8F73B41D4C35CA7578A_label_en-US" xlink:label="lab_us-gaap_Assets_2A29D5605582D8F73B41D4C35CA7578A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_2A29D5605582D8F73B41D4C35CA7578A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D974F4ACA3BE70651FD9D4C35CA71C85_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D974F4ACA3BE70651FD9D4C35CA71C85" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LIABILITIES AND SHAREHOLDERS' EQUITY</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D974F4ACA3BE70651FD9D4C35CA71C85_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D974F4ACA3BE70651FD9D4C35CA71C85" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D974F4ACA3BE70651FD9D4C35CA71C85" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D974F4ACA3BE70651FD9D4C35CA71C85" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_D974F4ACA3BE70651FD9D4C35CA71C85" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilitiesAbstract_62F2340030E6FAF0341DD4C35CA7ECAF_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract_62F2340030E6FAF0341DD4C35CA7ECAF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LIABILITIES</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_62F2340030E6FAF0341DD4C35CA7ECAF_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract_62F2340030E6FAF0341DD4C35CA7ECAF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="loc_us-gaap_LiabilitiesAbstract_62F2340030E6FAF0341DD4C35CA7ECAF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAbstract_62F2340030E6FAF0341DD4C35CA7ECAF" xlink:to="lab_us-gaap_LiabilitiesAbstract_62F2340030E6FAF0341DD4C35CA7ECAF" xlink:type="arc" />
    <link:label id="lab_us-gaap_PayablesToBrokerDealersAndClearingOrganizations_7C3B450D91EF4736058ED4C35CA73CC6_terseLabel_en-US" xlink:label="lab_us-gaap_PayablesToBrokerDealersAndClearingOrganizations_7C3B450D91EF4736058ED4C35CA73CC6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payable for securities purchased</link:label>
    <link:label id="lab_us-gaap_PayablesToBrokerDealersAndClearingOrganizations_7C3B450D91EF4736058ED4C35CA73CC6_label_en-US" xlink:label="lab_us-gaap_PayablesToBrokerDealersAndClearingOrganizations_7C3B450D91EF4736058ED4C35CA73CC6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payables to Broker-Dealers and Clearing Organizations</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PayablesToBrokerDealersAndClearingOrganizations" xlink:label="loc_us-gaap_PayablesToBrokerDealersAndClearingOrganizations_7C3B450D91EF4736058ED4C35CA73CC6" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DerivativeLiabilities_2803E3836BEF1E86F8EDD4C35CA757E5_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities_2803E3836BEF1E86F8EDD4C35CA757E5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial derivatives&#8211;liabilities, at fair value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="loc_us-gaap_DerivativeLiabilities_2803E3836BEF1E86F8EDD4C35CA757E5" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4D9F324119B2E7D1F07BD4C35CA7450A_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4D9F324119B2E7D1F07BD4C35CA7450A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued expenses</link:label>
    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4D9F324119B2E7D1F07BD4C35CA7450A_label_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4D9F324119B2E7D1F07BD4C35CA7450A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable and Accrued Liabilities</link:label>
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    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_0BFB5F693D86371C83F4870D30020F9B_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_0BFB5F693D86371C83F4870D30020F9B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis of Presentation</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_0BFB5F693D86371C83F4870D30020F9B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_503692DE688D7886E17A870D3002849F_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_503692DE688D7886E17A870D3002849F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valuation</link:label>
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    <link:label id="lab_earn_AccountingforSecuritiesPolicyTextBlock_D4B4AAE63067068BBF23870D3002F700_terseLabel_en-US" xlink:label="lab_earn_AccountingforSecuritiesPolicyTextBlock_D4B4AAE63067068BBF23870D3002F700" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting for Securities</link:label>
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    <link:label id="lab_us-gaap_RevenueRecognitionInterest_2D5DD12840B18EA7B6D5870D30033E91_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueRecognitionInterest_2D5DD12840B18EA7B6D5870D30033E91" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Income</link:label>
    <link:label id="lab_us-gaap_RevenueRecognitionInterest_2D5DD12840B18EA7B6D5870D30033E91_label_en-US" xlink:label="lab_us-gaap_RevenueRecognitionInterest_2D5DD12840B18EA7B6D5870D30033E91" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue Recognition, Interest [Policy Text Block]</link:label>
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    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_9724BCF4856A4C304746870D3003DDC3_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_9724BCF4856A4C304746870D3003DDC3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock_9724BCF4856A4C304746870D3003DDC3" xlink:type="locator" />
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    <link:label id="lab_earn_DuefromDuetoBrokersPolicyPolicyTextBlock_CD84F536CD5BB771C687870D30035544_terseLabel_en-US" xlink:label="lab_earn_DuefromDuetoBrokersPolicyPolicyTextBlock_CD84F536CD5BB771C687870D30035544" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deposits with Dealers Held as Collateral/Due to Brokers</link:label>
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    <link:label id="lab_us-gaap_RepurchaseAndResaleAgreementsPolicy_DCB4BD4CF5262D6284E5870D3003932C_label_en-US" xlink:label="lab_us-gaap_RepurchaseAndResaleAgreementsPolicy_DCB4BD4CF5262D6284E5870D3003932C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repurchase and Resale Agreements Policy [Policy Text Block]</link:label>
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    <link:label id="lab_earn_SecuritiesSoldShortPolicyPolicyTextBlock_2893D3B339415CDA3C7B870D3004F16B_documentation_en-US" xlink:label="lab_earn_SecuritiesSoldShortPolicyPolicyTextBlock_2893D3B339415CDA3C7B870D3004F16B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounting policy for securities sold, not yet purchased.</link:label>
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    <link:label id="lab_earn_ExpensesPolicyTextBlock_9C8345553E7F34B4BEC5870D3004E5AD_terseLabel_en-US" xlink:label="lab_earn_ExpensesPolicyTextBlock_9C8345553E7F34B4BEC5870D3004E5AD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses</link:label>
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    <link:label id="lab_earn_SharerepurchasesPolicyTextBlock_2E34CFA018D06F066EAB870D3005EA0C_documentation_en-US" xlink:label="lab_earn_SharerepurchasesPolicyTextBlock_2E34CFA018D06F066EAB870D3005EA0C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of accounting policy regarding the treatment of repurchased common shares.</link:label>
    <link:loc xlink:href="earn-20180930.xsd#earn_SharerepurchasesPolicyTextBlock" xlink:label="loc_earn_SharerepurchasesPolicyTextBlock_2E34CFA018D06F066EAB870D3005EA0C" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_F88F8122AECF2C957C49870D3005654E_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock_F88F8122AECF2C957C49870D3005654E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_F88F8122AECF2C957C49870D3005654E_label_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock_F88F8122AECF2C957C49870D3005654E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock_F88F8122AECF2C957C49870D3005654E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_B5391D9885B8E1FBC9E1870D30054D3C_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_B5391D9885B8E1FBC9E1870D30054D3C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recent Accounting Pronouncements</link:label>
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    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_6EF18CF8E91081A19080870D2FE4BCC8_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock_6EF18CF8E91081A19080870D2FE4BCC8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Text Block]</link:label>
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    <link:label id="lab_earn_VestDecember122019Member_5AAACD9ED33078E4AC10870D2FA1539D_documentation_en-US" xlink:label="lab_earn_VestDecember122019Member_5AAACD9ED33078E4AC10870D2FA1539D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vest December 12, 2019 [Member]</link:label>
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    <link:label id="lab_earn_PartiallydedicatedemployeesMember_378F1B124F98F6A30F37870D2FA200FB_terseLabel_en-US" xlink:label="lab_earn_PartiallydedicatedemployeesMember_378F1B124F98F6A30F37870D2FA200FB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partially dedicated employees [Member]</link:label>
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