XML 223 R120.htm IDEA: XBRL DOCUMENT v3.22.4
Related Party Transactions (Details)
3 Months Ended 12 Months Ended
Dec. 31, 2021
USD ($)
numberOfWarrants
Dec. 31, 2022
USD ($)
period
numberOfWarrants
Dec. 31, 2021
USD ($)
numberOfWarrants
Dec. 31, 2020
USD ($)
Oct. 03, 2022
USD ($)
Related Party Transaction [Line Items]          
Annual base management fee percentage   1.50%      
Base management fee to affiliate [1]   $ 16,847,000 $ 13,422,000 $ 11,508,000  
Base management fee, gross   18,500,000 16,000,000 12,600,000  
Management Fee Expense, Rebates   $ 1,612,000 2,593,000 [1] 1,051,000  
Incentive fee rate   25.00%      
Incentive Fee, Loss Carryforward $ 0 $ 85,000,000 0    
Incentive fee hurdle rate fixed   9.00%      
Incentive fee hurdle rate floating   3.00%      
Minimum percentage of incentive fee to be paid in share   10.00%      
Termination Fee, Number Of Periods | period   2      
Termination Fee, Period   12 months      
Expense Reimbursement Period   60 days      
Expense Reimbursement - Manager   $ 16,200,000 9,900,000    
Real estate owned 24,681,000 [2],[3] 28,403,000 [2],[3] 24,681,000 [2],[3]   $ 8,511,000
Securities, at fair value(1)(2) [2],[3] 2,087,360,000 1,459,465,000 2,087,360,000    
Non-controlling interests [2] 32,235,000 24,919,000 32,235,000    
Accrued expenses and other liabilities [2] 22,098,000 73,819,000 22,098,000    
Reverse repurchase agreements 2,469,763,000 2,609,685,000 2,469,763,000    
Other assets 3,710,000 [2] 76,791,000 [2] 3,710,000 [2]   51,475,000
Unpaid Principal Balance 2,366,724,000 11,609,077,000 2,366,724,000    
Related Party Transaction, Purchases from Related Party   8,400,000 5,900,000 1,600,000  
Securities Collateral relating to Reverse Repurchase Agreements 2,800,000,000 3,200,000,000 2,800,000,000    
Income Tax Expense (Benefit)   (17,716,000) 3,144,000 11,377,000  
Loans, at fair value 2,415,321,000 [2],[3] 11,626,008,000 [2],[3] 2,415,321,000 [2],[3]   $ 7,698,426,000
Incentive Fee Expense 5,300,000 0 15,658,000 0  
Earnings (losses) from investments in unconsolidated entities   (63,614,000) 58,104,000 37,933,000  
Payments to Acquire Equity Method Investments   32,835,000 24,066,000 34,624,000  
Investment in unconsolidated entities, at fair value [2] 195,643,000 127,046,000 195,643,000    
Jepson Holdings Limited          
Related Party Transaction [Line Items]          
Investment in unconsolidated entities, at fair value 1,000,000 600,000 1,000,000    
Commercial mortgage loans and REO          
Related Party Transaction [Line Items]          
Reverse repurchase agreements 150,500,000 274,400,000 150,500,000    
Fair Value 34,000,000 2,200,000 34,000,000    
Long          
Related Party Transaction [Line Items]          
Securities, at fair value(1)(2) 2,087,360,000 1,459,465,000 2,087,360,000    
Corporate loan [Member]          
Related Party Transaction [Line Items]          
Unpaid Principal Balance 10,531,000 4,132,000 10,531,000    
Loans, at fair value 10,531,000 4,086,000 10,531,000    
Non-Agency RMBS | Long          
Related Party Transaction [Line Items]          
Securities, at fair value(1)(2) 201,605,000 238,890,000 201,605,000    
Affiliated Entity [Member]          
Related Party Transaction [Line Items]          
Accounts payable and accrued expenses [2] 3,700,000 4,100,000 3,700,000    
Mortgage Originator          
Related Party Transaction [Line Items]          
Warehouse facility, monetary amount   $ 5,000,000      
Interest rate   15.00%      
Advances made under warehouse facility $ 0 $ 0 $ 0    
Mortgage Originator | Warrants          
Related Party Transaction [Line Items]          
Derivative, Number of Instruments Held | numberOfWarrants 8,280,000   8,280,000    
Mortgage Originator | Warrants          
Related Party Transaction [Line Items]          
Investment in unconsolidated entities, at fair value $ 10,000,000 11,500,000 $ 10,000,000    
Related Party-Consumer Loans Titled in Name of Related Party          
Related Party Transaction [Line Items]          
Fair value of loans held in related party trust 72,800,000 70,200,000 72,800,000    
Purchasing Entity          
Related Party Transaction [Line Items]          
Fair value of loans held in related party trust 61,700,000 4,300,000 61,700,000    
Consumer loans purchased through affiliate   10,000,000 41,400,000 $ 115,700,000  
Estimated remaining contingent purchase obligations 13,400,000   13,400,000    
Related party trust - Residential Mortgage Loans and REO          
Related Party Transaction [Line Items]          
Fair value of loans held in related party trust 975,700,000 $ 1,452,000,000 $ 975,700,000    
Mortgage loan originator          
Related Party Transaction [Line Items]          
Termination of warrants | numberOfWarrants   1,049,000      
Mortgage loan originator | Equity Method Investee | Secured promissory note converted to equity          
Related Party Transaction [Line Items]          
Earnings (losses) from investments in unconsolidated entities   $ (4,800,000)      
Outstanding debt converted to equity   2,000,000      
Payments to Acquire Equity Method Investments   $ 150,000      
Equity Method Investee | Corporate loan [Member] | Promissory note to equity method investee, effective date March 2022          
Related Party Transaction [Line Items]          
Management Fee Expense, Rebates $ 400,000        
Investment Interest Rate 0.00% 7.00% 0.00%    
Unpaid Principal Balance $ 0 $ 475,000 $ 0    
Loans, at fair value 0 475,000 0    
Non-controlling interest of joint venture partner | Unrelated third party joint venture interest | Commercial mortgage loans and REO          
Related Party Transaction [Line Items]          
Non-controlling interests 2,000,000 300,000 2,000,000    
Non-controlling interest of joint venture partner | Related party joint venture interest | Commercial mortgage loans and REO          
Related Party Transaction [Line Items]          
Non-controlling interests 3,600,000 400,000 3,600,000    
Mortgage-related Commercial | Corporate equity securities          
Related Party Transaction [Line Items]          
Fair Value 36,900,000 68,500,000 36,900,000    
Participation in multi-borrower financing facility          
Related Party Transaction [Line Items]          
Outstanding debt of related party 566,000,000 872,500,000 566,000,000    
Warehouse facilities - CLO securitizations          
Related Party Transaction [Line Items]          
Investment in unconsolidated entities, at fair value $ 1,700,000 500,000 $ 1,700,000    
Maximum | Mortgage Originator          
Related Party Transaction [Line Items]          
Commitment to purchase loans   $ 150,000,000      
Maximum | Mortgage loan originator          
Related Party Transaction [Line Items]          
Number of warrants available for purchase under commitment agreement | numberOfWarrants   9,329,000      
[1] See Note 15 for further details on management fee rebates.
[2] Ellington Financial Inc.'s Consolidated Balance Sheets include assets and liabilities of variable interest entities it has consolidated. See Note 11 for additional details on Ellington Financial Inc.'s consolidated variable interest entities.
[3] Includes assets pledged as collateral to counterparties. See Note 13 for additional details on the Company's borrowings and related collateral.