Ellington Financial To Acquire Longbridge Financial
02/23/22, 9:57 PM
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Ellington Financial Inc. (NYSE: EFC) (“Ellington Financial”), a real estate investment trust investing in a diverse array of financial assets including residential and commercial mortgage loans, and Longbridge Financial, LLC (“Longbridge”), an industry-leading, national reverse mortgage loan originator and servicer, today announced that Ellington Financial has entered into a definitive agreement to purchase an additional 49.6% ownership interest in Longbridge from Home Point Capital Inc. for approximately $75 million. Following the closing of the transaction, Ellington Financial, which has been an investor in Longbridge since 2014, will hold substantially all of Longbridge’s equity.
Company Info
Company info
Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans and asset-backed securities backed by consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives, equity investments in loan origination companies, and other strategic investments. Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C. For additional information, please visit www.ellingtonfinancial.com.