Ellington Financial LLC Announces Investment in Skyline Financial Corporation
OLD GREENWICH, Conn., Dec. 16, 2014 /PRNewswire/ -- Ellington Financial LLC (NYSE: EFC) announced today that it has made a subordinated debt investment in Skyline Financial Corporation, a multi-channel mortgage lender based in Calabasas, California.
"We are excited to have the opportunity to partner with Skyline, which we believe is poised to significantly expand its retail, wholesale and direct-to-consumer businesses," said Michael Vranos, CEO of Ellington Management Group, L.L.C. "With our financial flexibility and expertise and their customer-focused approach and proprietary mortgage platform, Skyline will be positioned to maintain its technological advantages over its competitors and continue delivering a leading-edge customer experience. We look forward to working with Bill Dallas and the rest of the Skyline team to identify and deliver innovative new ways to enable Americans to purchase life's biggest investment."
"We built Skyline with the goal of helping Americans secure safe financing," said Bill Dallas, CEO of Skyline. "Our company has built an intelligent, data-driven digital mortgage platform (iMP) designed to create a simple, easy-to-understand transparent loan process that puts the customer in control. We have positioned Skyline as an innovator, and I see a unique opportunity with Ellington, as it is a premier firm that brings analytical and capital markets expertise to the front end of the mortgage process."
About Skyline Financial Corporation
Skyline Financial has gained recognition as a leading independent mortgage banking firm that originates and services residential mortgage loans through its wholly-owned subsidiaries: Skyline Home Loans, NewLeaf Wholesale and NewLeaf Lending. The company has built cutting-edge technology designed to create a simple, easy-to-understand transparent process that saves the customer time and money.
About Ellington Financial LLC
Ellington Financial LLC is a specialty finance company that primarily acquires and manages mortgage-related assets, including residential mortgage-backed securities, residential mortgage loans, commercial mortgage-backed securities, commercial mortgage loans and other commercial real estate debt, real property and mortgage-related derivatives. The Company also invests in corporate debt and equity securities, asset-backed securities backed by consumer and commercial assets, non-mortgage-related derivatives and other financial assets. Ellington Financial LLC is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.
Investor Contact: Lindsay Tragler, Vice President of Investor Relations, or Lisa Mumford, Chief Financial Officer, Ellington Financial LLC, (203) 409-3575;
Media Contact: Steve Bruce or Taylor Ingraham, ASC Advisors LLC, for Ellington Financial LLC, (203) 992-1230
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SOURCE Ellington Financial LLC
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