Ellington Financial Inc. filed its Form 10-Q with the SEC on November 6, 2026, reporting unaudited condensed consolidated financial results for the quarterly and nine-month periods ended September 30, 2026.

Key Highlights

  • Net income of $211.5 million was reported for the nine-month period ended September 30, 2026, compared to $128.2 million for the same period in 2025, according to the filing.
  • Total assets reached $21.92 billion as of September 30, 2026, up from $19.35 billion at December 31, 2025, the company disclosed.
  • Loans at fair value totaled $18.50 billion as of September 30, 2026, the largest single asset category on the balance sheet, up from $16.64 billion at year-end 2025.
  • HMBS-related obligations stood at $11.29 billion as of September 30, 2026, reflecting the company's Home Equity Conversion Mortgage reverse mortgage activity, per the filing.
  • Basic and diluted earnings per common share were $0.31 for the third quarter and $1.51 for the nine-month period ended September 30, 2026, the registrant reported.
  • Common shares outstanding totaled 129,794,640 as of November 6, 2026, up from 113,138,860 at December 31, 2025, according to the filing.
  • Total stockholders' equity was $1.99 billion as of September 30, 2026, compared to $1.83 billion at December 31, 2025, the company disclosed.

Ellington Financial's Balance Sheet Growth and Reverse Mortgage Portfolio in Q3 2026

Ellington Financial Inc. (NYSE:EFC), a Delaware-incorporated specialty finance company externally managed by an affiliate, operates a portfolio concentrated in mortgage-related assets including residential loans, securities, and Home Equity Conversion Mortgage, or HECM, reverse mortgage loans. The company disclosed total assets of $21.92 billion as of September 30, 2026, an increase of approximately $2.57 billion from the December 31, 2025 balance of $19.35 billion. Loans at fair value, the largest asset line, grew to $18.50 billion from $16.64 billion over the same period.

For the nine months ended September 30, 2026, the registrant reported total net interest income of $202.5 million, compared to $136.3 million for the nine months ended September 30, 2025. Interest income for the nine-month period was $495.0 million against interest expense of $292.5 million, the filing stated. Total other income for the nine-month period was $209.6 million, which included a net change from HECM reverse mortgage loans of $472.5 million, partially offset by a net change related to HMBS obligations of negative $387.8 million. The filing also noted litigation settlement income of $17.0 million recognized in the nine-month period.

Total expenses for the nine months ended September 30, 2026 were $228.3 million, including compensation and benefits of $78.8 million, base management fees to affiliate of $21.8 million (net of fee rebates), and incentive fees to affiliate of $21.0 million. Net income attributable to common stockholders for the nine-month period was $190.3 million, or $1.51 per basic and diluted share. The company's preferred stock outstanding as of September 30, 2026 comprised 9,200,089 shares with an aggregate liquidation preference of $230.0 million, reduced from 13,800,089 shares and $345.0 million at December 31, 2025, with the filing recording $3.97 million in issuance costs of redeemed preferred stock during the nine-month period.

What Was Disclosed

Ellington Financial filed its quarterly report covering the period ended September 30, 2026, disclosing balance sheet growth to $21.92 billion in total assets, nine-month net income of $211.5 million, earnings per common share of $1.51, and details on its HECM reverse mortgage and HMBS-related obligations portfolio.