Ellington Residential rebrands as Ellington Credit Co.
Investors - APRIL 19, 2024

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Ellington Residential rebrands as Ellington Credit Co.

by Released

Ellington Residential Mortgage REIT (EARN) has rebranded as Ellington Credit Company as part of its strategic transformation to focus on corporate collateralized loan obligations (CLOs), with an emphasis on mezzanine debt and equity tranches.

Later in 2024, the company intends, subject to shareholder approval, to convert to a closed-end fund and complete its transition from an MBS-focused company to a CLO-focused company.

“We continue to make great progress in pivoting EARN’s investment strategy to focus on corporate CLOs, thus leveraging Ellington’s longstanding and successful record of investing in this highly attractive asset class, which has produced excellent returns for EARN to date,” said Laurence Penn, the company’s CEO. “As part of this strategic transformation, we have rebranded EARN as Ellington Credit Company.”

EARN was initially formed as a REIT that invested primarily in residential mortgage-backed securities. The company will continu

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