Non-qualified residential mortgages comprise the majority (58.1%) of a pool of 765 mortgages, which will secure a $345.6 million, mortgage-backed securities deal from the Ellington Financial Mortgage Trust. EF Holdco WRE Assets is sponsoring the non-prime transaction, for which Nomura Securities, Credit Suisse Securities, Barclays Capital and BTIG, are initial note purchasers, according to a pre-sale report from Kroll Bond Rating Agency. Nationstar is acting as master servicer on the deal, KBRA said, which is expected to close on July 21. On average, the loans have a balance of $451,833, with the loans in the pool having a maximum balance of $2.5 million. In terms of underwriting, about 38.6% of the loans were originated using 12- or 24-month bank statement records, and 30.7% were underwritten based on debt service coverage ratios. While the mortgages underpinning the pool are non-prime, a majority of the loans still retain some conventional of elements of a prime pool.