XML 42 R30.htm IDEA: XBRL DOCUMENT
v3.22.4

Schedule of Mortgage-Backed Securities (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2022 | Dec. 31, 2021
Mortgage-Backed Securities [Line Items] |  |  |
Mortgage-backed securities, at fair value(1) | [1] | $ 893,301 | $ 1,311,361
Residential Mortgage Backed Securities [Member] |  |  |
Mortgage-Backed Securities [Line Items] |  |  |
Current Principal |  | 943,185 | 1,246,084
Unamortized Premium (Discount) |  | 8,058 | 44,493
Amortized Cost |  | 966,744 | 1,306,244
Gross Unrealized Gain on Securities |  | 4,625 | 17,526
Gross Unrealized Losses on Securities |  | (78,068) | (12,409)
Mortgage-backed securities, at fair value(1) |  | $ 893,301 | $ 1,311,361
Weighted Average Coupon |  | 2.26% | 2.48%
Weighted Average Yield |  | 3.49% | 2.33%
Weighted Average Life (Years) |  | 7 years 11 months 26 days | 5 years 2 months 15 days
Non-Agency RMBS [Member] |  |  |
Mortgage-Backed Securities [Line Items] |  |  |
Current Principal |  | $ 16,895 | $ 10,672
Unamortized Premium (Discount) |  | (4,481) | (3,438)
Amortized Cost |  | 18,703 | 9,918
Gross Unrealized Gain on Securities |  | 2,728 | 1,936
Gross Unrealized Losses on Securities |  | (727) | 0
Mortgage-backed securities, at fair value(1) |  | $ 20,704 | $ 11,854
Weighted Average Coupon |  | 0.36% | 0.30%
Weighted Average Yield |  | 10.45% | 7.69%
Weighted Average Life (Years) |  | 8 years 1 month 13 days | 6 years 9 months 25 days
15-year fixed rate mortgages [Member] | Agency RMBS [Member] |  |  |
Mortgage-Backed Securities [Line Items] |  |  |
Current Principal |  | $ 47,453 | $ 125,033
Unamortized Premium (Discount) |  | 1,446 | 5,066
Amortized Cost |  | 48,899 | 130,099
Gross Unrealized Gain on Securities |  | 0 | 1,488
Gross Unrealized Losses on Securities |  | (3,575) | (877)
Mortgage-backed securities, at fair value(1) |  | $ 45,324 | $ 130,710
Weighted Average Coupon |  | 3.23% | 2.78%
Weighted Average Yield |  | 2.31% | 1.69%
Weighted Average Life (Years) |  | 3 years 8 months 15 days | 4 years 2 months 4 days
20-year fixed rate mortgages [Member] | Agency RMBS [Member] |  |  |
Mortgage-Backed Securities [Line Items] |  |  |
Current Principal |  | $ 10,812 | $ 35,732
Unamortized Premium (Discount) |  | 696 | 1,479
Amortized Cost |  | 11,508 | 37,211
Gross Unrealized Gain on Securities |  | 0 | 34
Gross Unrealized Losses on Securities |  | (1,817) | (898)
Mortgage-backed securities, at fair value(1) |  | $ 9,691 | $ 36,347
Weighted Average Coupon |  | 2.84% | 2.31%
Weighted Average Yield |  | 1.77% | 1.50%
Weighted Average Life (Years) |  | 6 years 8 months 19 days | 5 years 11 months 15 days
30-year fixed rate mortgages [Member] | Agency RMBS [Member] |  |  |
Mortgage-Backed Securities [Line Items] |  |  |
Current Principal |  | $ 841,823 | $ 1,027,843
Unamortized Premium (Discount) |  | 7,345 | 38,504
Amortized Cost |  | 849,168 | 1,066,347
Gross Unrealized Gain on Securities |  | 1,316 | 13,672
Gross Unrealized Losses on Securities |  | (68,730) | (7,115)
Mortgage-backed securities, at fair value(1) |  | $ 781,754 | $ 1,072,904
Weighted Average Coupon |  | 3.65% | 3.03%
Weighted Average Yield |  | 3.38% | 2.37%
Weighted Average Life (Years) |  | 8 years 4 months 17 days | 4 years 11 months 19 days
Adjustable Rate Mortgages | Agency RMBS [Member] |  |  |
Mortgage-Backed Securities [Line Items] |  |  |
Current Principal |  | $ 8,696 | $ 11,491
Unamortized Premium (Discount) |  | 899 | 543
Amortized Cost |  | 9,595 | 12,034
Gross Unrealized Gain on Securities |  | 0 | 59
Gross Unrealized Losses on Securities |  | (932) | (133)
Mortgage-backed securities, at fair value(1) |  | $ 8,663 | $ 11,960
Weighted Average Coupon |  | 3.58% | 2.82%
Weighted Average Yield |  | 2.37% | 2.21%
Weighted Average Life (Years) |  | 4 years 6 months | 4 years 2 months 23 days
Reverse mortgages [Member] | Agency RMBS [Member] |  |  |
Mortgage-Backed Securities [Line Items] |  |  |
Current Principal |  | $ 17,506 | $ 35,313
Unamortized Premium (Discount) |  | 2,153 | 2,339
Amortized Cost |  | 19,659 | 37,652
Gross Unrealized Gain on Securities |  | 0 | 242
Gross Unrealized Losses on Securities |  | (1,807) | (597)
Mortgage-backed securities, at fair value(1) |  | $ 17,852 | $ 37,297
Weighted Average Coupon |  | 4.06% | 3.33%
Weighted Average Yield |  | 2.73% | 2.27%
Weighted Average Life (Years) |  | 4 years 8 months 12 days | 4 years 2 months 26 days
Interest-Only [Member] | Agency RMBS [Member] |  |  |
Mortgage-Backed Securities [Line Items] |  |  |
Amortized Cost |  | $ 9,212 | $ 12,983
Gross Unrealized Gain on Securities |  | 581 | 95
Gross Unrealized Losses on Securities |  | (480) | (2,789)
Mortgage-backed securities, at fair value(1) |  | $ 9,313 | $ 10,289
Weighted Average Coupon |  | 3.89% | 3.36%
Weighted Average Yield |  | 10.56% | 5.34%
Weighted Average Life (Years) |  | 6 years 7 months 17 days | 3 years 10 months 13 days
Interest-Only [Member] | Non-Agency RMBS [Member] |  |  |
Mortgage-Backed Securities [Line Items] |  |  |
Amortized Cost |  | $ 6,289 | $ 2,684
Gross Unrealized Gain on Securities |  | 1,849 | 114
Gross Unrealized Losses on Securities |  | 0 | 0
Mortgage-backed securities, at fair value(1) |  | $ 8,138 | $ 2,798
Weighted Average Coupon |  | 0.24% | 0.27%
Weighted Average Yield |  | 17.94% | 11.58%
Weighted Average Life (Years) |  | 9 years 6 months 29 days | 6 years 9 months 14 days
Agency Securities [Member] | Agency RMBS [Member] |  |  |
Mortgage-Backed Securities [Line Items] |  |  |
Current Principal |  | $ 926,290 | $ 1,235,412
Unamortized Premium (Discount) |  | 12,539 | 47,931
Amortized Cost |  | 948,041 | 1,296,326
Gross Unrealized Gain on Securities |  | 1,897 | 15,590
Gross Unrealized Losses on Securities |  | (77,341) | (12,409)
Mortgage-backed securities, at fair value(1) |  | $ 872,597 | $ 1,299,507
Weighted Average Coupon |  | 3.65% | 3.02%
Weighted Average Yield |  | 3.35% | 2.31%
Weighted Average Life (Years) |  | 7 years 11 months 26 days | 4 years 9 months 21 days
Principal and interest securities | Non-Agency RMBS [Member] |  |  |
Mortgage-Backed Securities [Line Items] |  |  |
Current Principal |  | $ 16,895 | $ 10,672
Unamortized Premium (Discount) |  | (4,481) | (3,438)
Amortized Cost |  | 12,414 | 7,234
Gross Unrealized Gain on Securities |  | 879 | 1,822
Gross Unrealized Losses on Securities |  | (727) | 0
Mortgage-backed securities, at fair value(1) |  | $ 12,566 | $ 9,056
Weighted Average Coupon |  | 5.26% | 1.47%
Weighted Average Yield |  | 6.65% | 6.25%
Weighted Average Life (Years) |  | 7 years 2 months 4 days | 7 years 5 months 26 days
[1] | Includes assets pledged as collateral to counterparties. See Note 6 for additional details on the Company's borrowings and related collateral.

X
- Definition This item represents the gross unrealized gains for securities. + References No definition available. + Details
Name: | earn_GrossUnrealizedGainOnSecurities
Namespace Prefix: | earn_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition This item represents the gross unrealized losses for securities. + References No definition available. + Details
Name: | earn_GrossUnrealizedLossesOnSecurities
Namespace Prefix: | earn_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition [Line Items] for Mortgage-Backed Securities [Table] + References No definition available. + Details
Name: | earn_MortgageBackedSecuritiesLineItems
Namespace Prefix: | earn_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Weighted Average Coupon Rate, Percent + References No definition available. + Details
Name: | earn_WeightedAverageCouponRatePercent
Namespace Prefix: | earn_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Weighted Average Life + References No definition available. + Details
Name: | earn_WeightedAverageLife
Namespace Prefix: | earn_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Weighted Average Yield, Percent + References No definition available. + Details
Name: | earn_WeightedAverageYieldPercent
Namespace Prefix: | earn_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount, after accumulated amortization, of debt discount (premium). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28555-108399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28567-108399 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1D -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495340-112611 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 + Details
Name: | us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The fair value as of the balance sheet date of firm holdings in mortgages, mortgage backed securities (investment instruments that represent ownership of an undivided interest in a group of mortgages, where principal and interest from the individual mortgages are used to pay investors' principal and interest on the mortgage backed security) and asset-backed securities that are primarily paid from the cash flows of a discrete pool of receivables or other financial assets (such as credit-card receivables), either fixed or revolving, that by their terms convert into cash within a finite time period. Includes both pledged (to counterparties as collateral for financing transactions) and unpledged holdings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35711157&loc=d3e42546-110969 + Details
Name: | us-gaap_FinancialInstrumentsOwnedMortgagesMortgageBackedAndAssetBackedSecuritiesAtFairValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Cost of the investment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section 50 -Paragraph 6 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99383244&loc=d3e12121-115841 + Details
Name: | us-gaap_InvestmentOwnedAtCost
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition For investments which are quantified by principal amount, the principle balance held at close of period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section 50 -Paragraph 6 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=99383244&loc=d3e12121-115841 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-12B(Column B)) -URI http://asc.fasb.org/extlink&oid=122147990&loc=d3e611197-123010 + Details
Name: | us-gaap_InvestmentOwnedBalancePrincipalAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_ResidentialMortgageBackedSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentTypeAxis=earn_A15yearfixedratemortgagesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentTypeAxis=earn_A20yearfixedratemortgagesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentTypeAxis=earn_A30yearfixedratemortgagesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentTypeAxis=us-gaap_AdjustableRateResidentialMortgageMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentTypeAxis=earn_ReversemortgagesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentTypeAxis=us-gaap_InterestOnlyStripMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentTypeAxis=us-gaap_AgencySecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_InvestmentTypeAxis=earn_PrincipalAndInterestSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |