<SEC-DOCUMENT>0001560672-24-000102.txt : 20240913
<SEC-HEADER>0001560672-24-000102.hdr.sgml : 20240913
<ACCEPTANCE-DATETIME>20240913171827
ACCESSION NUMBER:		0001560672-24-000102
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240911
FILED AS OF DATE:		20240913
DATE AS OF CHANGE:		20240913

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SIMON RONALD I
		CENTRAL INDEX KEY:			0001060435
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35896
		FILM NUMBER:		241298660

	MAIL ADDRESS:	
		STREET 1:		485 MADISON AVENUE
		STREET 2:		14TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ellington Credit Co
		CENTRAL INDEX KEY:			0001560672
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				460687599
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		53 FOREST AVENUE
		CITY:			OLD GREENWICH
		STATE:			CT
		ZIP:			06870
		BUSINESS PHONE:		(203) 698-1200

	MAIL ADDRESS:	
		STREET 1:		53 FOREST AVENUE
		CITY:			OLD GREENWICH
		STATE:			CT
		ZIP:			06870

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ellington Residential Mortgage REIT
		DATE OF NAME CHANGE:	20121018
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wk-form4_1726262301.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2024-09-11</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001560672</issuerCik>
        <issuerName>Ellington Credit Co</issuerName>
        <issuerTradingSymbol>EARN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001060435</rptOwnerCik>
            <rptOwnerName>SIMON RONALD I</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>53 FOREST AVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>OLD GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06870</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common shares of beneficial interest</value>
            </securityTitle>
            <transactionDate>
                <value>2024-09-11</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>14472</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>28233</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common shares of beneficial interest</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>41231</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Trust</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">The common shares of beneficial interest (the &quot;Common Shares&quot;) were granted to the Reporting Person as an independent trustee under the Ellington Credit Company 2023 Equity Incentive Plan. 8,684 of the Common Shares vested immediately upon their granting and 5,788 of the Common Shares will vest, subject to certain limitations, on the day following the day that shareholders of Ellington Credit Company (the &quot;Company&quot;) approve certain proposals put forward by the Company at its 2024 annual meeting of shareholders that would allow the Company to convert to a registered closed-end fund.</footnote>
        <footnote id="F2">Excludes 8,230 common shares previously owned directly which were transferred to the Simon Family Trust (the &quot;Trust&quot;) on September 13, 2024.</footnote>
        <footnote id="F3">Includes 8,230 common shares previously owned directly which were transferred to the Trust on September 13, 2024.</footnote>
        <footnote id="F4">The shares are held in the Trust. Mr. Simon is a trustee of the Trust. Mr. Simon and his wife are the beneficiaries of the Trust. Mr. Simon disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Alaael-Deen Shilleh, as attorney-in-fact for Ronald I. Simon, Ph.D</signatureName>
        <signatureDate>2024-09-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
