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  <xs:element id="efc_RealizedGainsLossesOnSecuritiesAndLoansNet" abstract="false" name="RealizedGainsLossesOnSecuritiesAndLoansNet" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_RealizedGainsLossesOnDerivativesNet" abstract="false" name="RealizedGainsLossesOnDerivativesNet" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_RealEstateAcquiredThroughForeclosureRealizedGainsLossesOnDisposal" abstract="false" name="RealEstateAcquiredThroughForeclosureRealizedGainsLossesOnDisposal" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_RealizedGainsLossesOnUnsecuredBorrowingsAtFairValueNet" abstract="false" name="RealizedGainsLossesOnUnsecuredBorrowingsAtFairValueNet" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_UnrealizedGainsLossesOnSecuritiesAndLoansNet" abstract="false" name="UnrealizedGainsLossesOnSecuritiesAndLoansNet" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_RealEstateAcquiredThroughForeclosureUnrealizedGainsLosses" abstract="false" name="RealEstateAcquiredThroughForeclosureUnrealizedGainsLosses" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_UnrealizedGainsLossesOnOtherSecuredBorrowingsAtFairValueNet" abstract="false" name="UnrealizedGainsLossesOnOtherSecuredBorrowingsAtFairValueNet" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_UnrealizedGainsLossesOnUnsecuredBorrowingsAtFairValue" abstract="false" name="UnrealizedGainsLossesOnUnsecuredBorrowingsAtFairValue" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_NetChangeFromReverseMortgageLoansAtFairValue" abstract="false" name="NetChangeFromReverseMortgageLoansAtFairValue" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_NetChangeRelatedToHMBSObligationsAtFairValue" abstract="false" name="NetChangeRelatedToHMBSObligationsAtFairValue" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_OtherinvestmentrelatedexpensesAbstract" abstract="true" name="OtherinvestmentrelatedexpensesAbstract" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="efc_OtherinvestmentrelatedexpensesServicingexpense" abstract="false" name="OtherinvestmentrelatedexpensesServicingexpense" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_DebtIssuanceCostsRelatedToOtherSecuredBorrowingsAtFairValue" abstract="false" name="DebtIssuanceCostsRelatedToOtherSecuredBorrowingsAtFairValue" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_OtherinvestmentrelatedexpenseOther" abstract="false" name="OtherinvestmentrelatedexpenseOther" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ConsolidatedStatementofOperationsParentheticalAbstract" abstract="true" name="ConsolidatedStatementofOperationsParentheticalAbstract" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="efc_ManagementFeeExpenseRebates" abstract="false" name="ManagementFeeExpenseRebates" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_NoncontrollinginterestDomain" abstract="true" name="NoncontrollinginterestDomain" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_ShareConversion" abstract="false" name="ShareConversion" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_SharesIssuedAsPaymentOfIncentiveFee" abstract="false" name="SharesIssuedAsPaymentOfIncentiveFee" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_NoncontrollingInterestDecreaseFromExpirationOfEmployeeStockOptions" abstract="false" name="NoncontrollingInterestDecreaseFromExpirationOfEmployeeStockOptions" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_Adjustmentstononcontrollinginterests" abstract="false" name="Adjustmentstononcontrollinginterests" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_SharesIssuedAsPaymentofIncentiveFeeShares" abstract="false" name="SharesIssuedAsPaymentofIncentiveFeeShares" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:sharesItemType"/>
  <xs:element id="efc_ProceedsFromSaleOfForwardMSRRelatedInvestments" abstract="false" name="ProceedsFromSaleOfForwardMSRRelatedInvestments" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ProceedsFromDispositionofRealEstateOwned" abstract="false" name="ProceedsFromDispositionofRealEstateOwned" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ProceedsFromSettlementOfClaimsRelatedToReverseMortgageLoansRepurchasedFromHMBS" abstract="false" name="ProceedsFromSettlementOfClaimsRelatedToReverseMortgageLoansRepurchasedFromHMBS" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ProceedsFromInvestmentsSoldShort" abstract="false" name="ProceedsFromInvestmentsSoldShort" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_RepurchaseOfSecuritiesSoldShortInvestingActivities" abstract="false" name="RepurchaseOfSecuritiesSoldShortInvestingActivities" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ProceedsFromBrokersInvestingActivities" abstract="false" name="ProceedsFromBrokersInvestingActivities" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_PaymentsToBrokersInvestingActivities" abstract="false" name="PaymentsToBrokersInvestingActivities" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_RepaymentOfUnsecuredBorrowingsAtFairValue" abstract="false" name="RepaymentOfUnsecuredBorrowingsAtFairValue" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ProceedsFromIssuanceOfSecuritizedDebt" abstract="false" name="ProceedsFromIssuanceOfSecuritizedDebt" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_PrincipalPaymentOnSecuritizedDebt" abstract="false" name="PrincipalPaymentOnSecuritizedDebt" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_BorrowingsunderReverseRepurchaseAgreements" abstract="false" name="BorrowingsunderReverseRepurchaseAgreements" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_RepaymentsofReverseRepurchaseAgreements" abstract="false" name="RepaymentsofReverseRepurchaseAgreements" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ProceedsFromIssuanceOfHMBS" abstract="false" name="ProceedsFromIssuanceOfHMBS" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_PrincipalPaymentsOnHMBSRelatedObligationsAtFairValue" abstract="false" name="PrincipalPaymentsOnHMBSRelatedObligationsAtFairValue" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ProceedsFromBrokersFinancingActivities" abstract="false" name="ProceedsFromBrokersFinancingActivities" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_PaymentsToBrokersFinancingActivities" abstract="false" name="PaymentsToBrokersFinancingActivities" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_DebtIssuanceCostsRelatedToOtherSecuredBorrowingsAtFairValueNonCash" abstract="false" name="DebtIssuanceCostsRelatedToOtherSecuredBorrowingsAtFairValueNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ProceedsFromBorrowingsUnderRepurchaseAgreementsNonCash" abstract="false" name="ProceedsFromBorrowingsUnderRepurchaseAgreementsNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_TransfersFromInvestmentsInUnconsolidatedEntitiesToMortgageLoansNonCash" abstract="false" name="TransfersFromInvestmentsInUnconsolidatedEntitiesToMortgageLoansNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_TransfersFromMortgageLoansToRealEstateOwnedNonCash" abstract="false" name="TransfersFromMortgageLoansToRealEstateOwnedNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_TransfersFromMortgageLoansToOtherSalesAndClaimsReceivableNonCash" abstract="false" name="TransfersFromMortgageLoansToOtherSalesAndClaimsReceivableNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_TransfersFromMortgageLoansToInvestmentsInNonConsolidatedEntitiesNonCash" abstract="false" name="TransfersFromMortgageLoansToInvestmentsInNonConsolidatedEntitiesNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_IncreaseDecreaseInHMBSBuyoutObligationsNonCash" abstract="false" name="IncreaseDecreaseInHMBSBuyoutObligationsNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ContributionsToInvestmentsInNonConsolidatedEntitiesNonCash" abstract="false" name="ContributionsToInvestmentsInNonConsolidatedEntitiesNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_PurchaseofInvestmentsNonCash" abstract="false" name="PurchaseofInvestmentsNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ProceedsFromTheDispositionOfLoansNonCash" abstract="false" name="ProceedsFromTheDispositionOfLoansNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ProceedsFromPrincipalPaymentsOfInvestmentsNonCash" abstract="false" name="ProceedsFromPrincipalPaymentsOfInvestmentsNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_PrincipalPaymentsOnOtherSecuredBorrowingsAtFairValueNonCash" abstract="false" name="PrincipalPaymentsOnOtherSecuredBorrowingsAtFairValueNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ProceedsReceivedFromOtherSecuredBorrowingsAtFairValueNonCash" abstract="false" name="ProceedsReceivedFromOtherSecuredBorrowingsAtFairValueNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_RepaymentsOfRepurchaseAgreementNonCash" abstract="false" name="RepaymentsOfRepurchaseAgreementNonCash" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_InvestmentsInDebtAndEquitySecuritiesIncludingSecuritiesSoldButNotYetPurchasedTextBlock" abstract="false" name="InvestmentsInDebtAndEquitySecuritiesIncludingSecuritiesSoldButNotYetPurchasedTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_MortgageServicingRightsAbstract" abstract="true" name="MortgageServicingRightsAbstract" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="efc_MortgageServicingRightsTextBlock" abstract="false" name="MortgageServicingRightsTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_MortgageServicingRightFinancingReceivableTextBlock" abstract="false" name="MortgageServicingRightFinancingReceivableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:textBlockItemType"/>
  <xs:element id="efc_SecuritizationTransactionsAbstract" abstract="true" name="SecuritizationTransactionsAbstract" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="efc_SecuritizationTransactionsTextBlock" abstract="false" name="SecuritizationTransactionsTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_OffsettingOfAssetsAndLiabilitiesAbstract" abstract="true" name="OffsettingOfAssetsAndLiabilitiesAbstract" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="efc_OffsettingOfAssetsAndLiabilitiesTextBlock" abstract="false" name="OffsettingOfAssetsAndLiabilitiesTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_SecuritiespurchasedunderagreementstoresellAxis" abstract="true" name="SecuritiespurchasedunderagreementstoresellAxis" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType"/>
  <xs:element id="efc_SecuritiespurchasedunderagreementstoresellDomain" abstract="true" name="SecuritiespurchasedunderagreementstoresellDomain" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_SecuritiesPurchasedunderAgreementstoResellMember" abstract="true" name="SecuritiesPurchasedunderAgreementstoResellMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_LoanCommitmentPolicyPolicyTextBlock" abstract="false" name="LoanCommitmentPolicyPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_RealEstateOwnedPolicyTextBlock" abstract="false" name="RealEstateOwnedPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_InvestmentssoldnotyetpurchasedPolicyPolicyTextBlock" abstract="false" name="InvestmentssoldnotyetpurchasedPolicyPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_OfferingCostsPlacementFeesPolicyTextBlock" abstract="false" name="OfferingCostsPlacementFeesPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ExpensesPolicyTextBlock" abstract="false" name="ExpensesPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_OtherInvestmentRelatedExpensesPolicyTextBlock" abstract="false" name="OtherInvestmentRelatedExpensesPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_InvestmentRelatedReceivablesPolicyTextBlock" abstract="false" name="InvestmentRelatedReceivablesPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_NoncontrollinginterestpolicyPolicyTextBlock" abstract="false" name="NoncontrollinginterestpolicyPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_DividendsPolicyTextBlock" abstract="false" name="DividendsPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_SharesRepurchasedPolicyPolicyTextBlock" abstract="false" name="SharesRepurchasedPolicyPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_LoanPurchaseCommitmentsPolicyTextBlock" abstract="false" name="LoanPurchaseCommitmentsPolicyTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:textBlockItemType"/>
  <xs:element id="efc_ScheduleOfChangeInUnrealizedGainlossOnLevel3AssetsAndLiabilitiesStillHeldAndOutstandingTableTextBlock" abstract="false" name="ScheduleOfChangeInUnrealizedGainlossOnLevel3AssetsAndLiabilitiesStillHeldAndOutstandingTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:textBlockItemType"/>
  <xs:element id="efc_SecuritiesclassifiedbyestimatedremaininglifeTableTextBlock" abstract="false" name="SecuritiesclassifiedbyestimatedremaininglifeTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ConsumerLoansDelinquencyStatusTableTextBlock" abstract="false" name="ConsumerLoansDelinquencyStatusTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ScheduleOfUnpoolableHECMLoansTableTextBlock" abstract="false" name="ScheduleOfUnpoolableHECMLoansTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ScheduleOfGeographicDistributionTableTextBlock" abstract="false" name="ScheduleOfGeographicDistributionTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:textBlockItemType"/>
  <xs:element id="efc_MSRFinancingReceivablesTableTextBlock" abstract="false" name="MSRFinancingReceivablesTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:textBlockItemType"/>
  <xs:element id="efc_ScheduleOfFinancialPositionAndResultOfOperationsTableTextBlock" abstract="false" name="ScheduleOfFinancialPositionAndResultOfOperationsTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:textBlockItemType"/>
  <xs:element id="efc_ScheduleOfRealEstateOwnedTableTextBlock" abstract="false" name="ScheduleOfRealEstateOwnedTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ScheduleofCreditDefaultSwapsTableTextBlock" abstract="false" name="ScheduleofCreditDefaultSwapsTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ScheduleofFuturesContractsTableTextBlock" abstract="false" name="ScheduleofFuturesContractsTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ScheduleofDerivativeWarrantContractsTableTextBlock" abstract="false" name="ScheduleofDerivativeWarrantContractsTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ScheduleofTBAsecuritiesTableTextBlock" abstract="false" name="ScheduleofTBAsecuritiesTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_DerivativeactivityvolumeTableTextBlock" abstract="false" name="DerivativeactivityvolumeTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ScheduleOfOptionsContractsTableTextBlock" abstract="false" name="ScheduleOfOptionsContractsTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ScheduleOfOptionsTableTextBlock" abstract="false" name="ScheduleOfOptionsTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:textBlockItemType"/>
  <xs:element id="efc_ScheduleOfResidentialLoanSecuritizationsConsolidatedTableTextBlock" abstract="false" name="ScheduleOfResidentialLoanSecuritizationsConsolidatedTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ScheduleofAssetsandLiabilitiesofConsolidatedSecuritizationTrustsTableTextBlock" abstract="false" name="ScheduleofAssetsandLiabilitiesofConsolidatedSecuritizationTrustsTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ScheduleOfResidentialLoanSecuritizationsNonConsolidatedTableTextBlock" abstract="false" name="ScheduleOfResidentialLoanSecuritizationsNonConsolidatedTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ScheduleOfParticipationInConsumerLoanSecuritizationsTableTextBlock" abstract="false" name="ScheduleOfParticipationInConsumerLoanSecuritizationsTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:textBlockItemType"/>
  <xs:element id="efc_ScheduleOfReverseMortgageLoanSecuritizationsTableTextBlock" abstract="false" name="ScheduleOfReverseMortgageLoanSecuritizationsTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:textBlockItemType"/>
  <xs:element id="efc_ScheduleOfResidentialLoanSecuritizationsCoSponsorTableTextBlock" abstract="false" name="ScheduleOfResidentialLoanSecuritizationsCoSponsorTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:textBlockItemType"/>
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  <xs:element id="efc_LoanPurchaseCommitmentsMeasurementInput" abstract="false" name="LoanPurchaseCommitmentsMeasurementInput" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:decimalItemType"/>
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  <xs:element id="efc_FixedRateResidentialMortgages20YearMember" abstract="true" name="FixedRateResidentialMortgages20YearMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_FixedRateResidentialMortgages30YearMember" abstract="true" name="FixedRateResidentialMortgages30YearMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_ReverseMortgagesMember" abstract="true" name="ReverseMortgagesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_NonAgencyInterestOnlySecuritiesMember" abstract="true" name="NonAgencyInterestOnlySecuritiesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_FinancialInstrumentsSoldNotYetPurchasedAmortizedCost" abstract="false" name="FinancialInstrumentsSoldNotYetPurchasedAmortizedCost" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_InvestmentOwnedAtFairValueNet" abstract="false" name="InvestmentOwnedAtFairValueNet" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_InvestmentYield" abstract="false" name="InvestmentYield" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:percentItemType"/>
  <xs:element id="efc_InvestmentEstimatedRemainingLife" abstract="false" name="InvestmentEstimatedRemainingLife" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="efc_ResidentialMortgageandCommercialMortgageBackedSecuritiesMember" abstract="true" name="ResidentialMortgageandCommercialMortgageBackedSecuritiesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_CollateralizedLoanObligationsAndOtherSecuritiesMember" abstract="true" name="CollateralizedLoanObligationsAndOtherSecuritiesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_CollateralizedLoanObligationsAndOtherSecuritiesIncludingU.S.TreasurySecuritiesMember" abstract="true" name="CollateralizedLoanObligationsAndOtherSecuritiesIncludingU.S.TreasurySecuritiesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="efc_AgencyInterestOnlySecuritiesMember" abstract="true" name="AgencyInterestOnlySecuritiesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="efc_EstimateweightedaveragelifeAxis" abstract="true" name="EstimateweightedaveragelifeAxis" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType"/>
  <xs:element id="efc_EstimateweightedaveragelifeDomain" abstract="true" name="EstimateweightedaveragelifeDomain" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_LessthanthreeyearsMember" abstract="true" name="LessthanthreeyearsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_GreaterthanthreeyearslessthansevenyearsMember" abstract="true" name="GreaterthanthreeyearslessthansevenyearsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_GreaterthansevenyearslessthanelevenMember" abstract="true" name="GreaterthansevenyearslessthanelevenMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_GreaterthanelevenyearMember" abstract="true" name="GreaterthanelevenyearMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_OtherInvestmentSecuritiesMember" abstract="true" name="OtherInvestmentSecuritiesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_ArlingtonAssetInvestmentCorpMember" abstract="true" name="ArlingtonAssetInvestmentCorpMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="efc_AvailableForSaleSecuritiesRealizesLossesWriteOffs" abstract="false" name="AvailableForSaleSecuritiesRealizesLossesWriteOffs" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_CatchupPremiumAmortizationAdjustment" abstract="false" name="CatchupPremiumAmortizationAdjustment" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_RealizedLossesWriteOffsOnLoans" abstract="false" name="RealizedLossesWriteOffsOnLoans" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_TransferToHeldForInvestmentFromHeldForSaleLoanUPB" abstract="false" name="TransferToHeldForInvestmentFromHeldForSaleLoanUPB" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_LoanAccrualStatusAxis" abstract="true" name="LoanAccrualStatusAxis" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType"/>
  <xs:element id="efc_LoanaccrualstatusDomain" abstract="true" name="LoanaccrualstatusDomain" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_NonAccrualStatusMember" abstract="true" name="NonAccrualStatusMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_NonQMLoanSecuritizationMember" abstract="true" name="NonQMLoanSecuritizationMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_SecuritizedResidentialLoansMember" abstract="true" name="SecuritizedResidentialLoansMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="efc_ResidentialLoanSecuritizationMember" abstract="true" name="ResidentialLoanSecuritizationMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="efc_ConsolidatedSecuritizationTrustsMember" abstract="true" name="ConsolidatedSecuritizationTrustsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_LoansHeldForInvestmentMember" abstract="true" name="LoansHeldForInvestmentMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_LoansHeldForSaleMember" abstract="true" name="LoansHeldForSaleMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_GrossUnrealizedGains" abstract="false" name="GrossUnrealizedGains" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_GrossUnrealizedLosses" abstract="false" name="GrossUnrealizedLosses" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_FinancingReceivablesUnpaidPrincipalBalanceMember" abstract="true" name="FinancingReceivablesUnpaidPrincipalBalanceMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_OtherStatesMember" abstract="true" name="OtherStatesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_FinancingReceivableNumberOfLoans" abstract="false" name="FinancingReceivableNumberOfLoans" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="efc_Numberofmortgageloansinprocessofforeclosure" abstract="false" name="Numberofmortgageloansinprocessofforeclosure" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:pureItemType"/>
  <xs:element id="efc_MortgageLoansInProcessOfForeclosurePrincipalAmount" abstract="false" name="MortgageLoansInProcessOfForeclosurePrincipalAmount" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_DaysPastDue" abstract="false" name="DaysPastDue" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="efc_FairValueOfChargedOffLoans" abstract="false" name="FairValueOfChargedOffLoans" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_FinancingReceivables90to119DaysPastDueMember" abstract="true" name="FinancingReceivables90to119DaysPastDueMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_FinancingReceivablesEqualtoGreaterthan120DaysPastDueMember" abstract="true" name="FinancingReceivablesEqualtoGreaterthan120DaysPastDueMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_SecuritizedProprietaryLoansMember" abstract="true" name="SecuritizedProprietaryLoansMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="efc_ReverseMortgageLoansHeldForInvestmentMember" abstract="true" name="ReverseMortgageLoansHeldForInvestmentMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_UnpoolableHECMLoans" abstract="false" name="UnpoolableHECMLoans" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_UnpoolableHECMLoansMember" abstract="true" name="UnpoolableHECMLoansMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_AssignableBuyoutMember" abstract="true" name="AssignableBuyoutMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_NonAssignableBuyoutMember" abstract="true" name="NonAssignableBuyoutMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_InactiveHECMTailLoansMember" abstract="true" name="InactiveHECMTailLoansMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_DelinquentLoansChargedOff" abstract="false" name="DelinquentLoansChargedOff" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_LoansPurchasedInPrivateTransaction" abstract="false" name="LoansPurchasedInPrivateTransaction" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_LoansPurchasedInPrivateTransactionHeld" abstract="false" name="LoansPurchasedInPrivateTransactionHeld" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_UnpaidPrincipalBalanceOnInactiveLoans" abstract="false" name="UnpaidPrincipalBalanceOnInactiveLoans" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_UnpaidPrincipalBalanceImpairedLoans" abstract="false" name="UnpaidPrincipalBalanceImpairedLoans" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_FairValueImpairedLoans" abstract="false" name="FairValueImpairedLoans" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_AggregateUnpaidPrincipalBalanceOfLoansSold" abstract="false" name="AggregateUnpaidPrincipalBalanceOfLoansSold" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_UnpaidPrincipalBalanceOfReverseMortgageLoansInServicingPortfolio" abstract="false" name="UnpaidPrincipalBalanceOfReverseMortgageLoansInServicingPortfolio" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ChangeInUnrealizedGainLossOnServicingAsset" abstract="false" name="ChangeInUnrealizedGainLossOnServicingAsset" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_MSRFinancingReceivablesTable" abstract="true" name="MSRFinancingReceivablesTable" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType"/>
  <xs:element id="efc_MSRFinancingReceivablesLineItems" abstract="true" name="MSRFinancingReceivablesLineItems" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="efc_ServicerFinancingBorrowings" abstract="false" name="ServicerFinancingBorrowings" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_CapitalInvestments" abstract="false" name="CapitalInvestments" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_CapitalDistributions" abstract="false" name="CapitalDistributions" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_AccretionOfInterestIncome" abstract="false" name="AccretionOfInterestIncome" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_ChangesInValuationInputsAndAssumptions" abstract="false" name="ChangesInValuationInputsAndAssumptions" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_MSRServicingFeeBasisPoints" abstract="false" name="MSRServicingFeeBasisPoints" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="efc_InvestmentInLoanOriginatorMember" abstract="true" name="InvestmentInLoanOriginatorMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_MortgageLoanOriginatorMember" abstract="true" name="MortgageLoanOriginatorMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_LendSureMortgageCorpMember" abstract="true" name="LendSureMortgageCorpMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_ElizonDB20151LLCMember" abstract="true" name="ElizonDB20151LLCMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_ElizonNMCRE20201LLCMember" abstract="true" name="ElizonNMCRE20201LLCMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_ElizonCHCRE20211LLCMember" abstract="true" name="ElizonCHCRE20211LLCMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_OtherEquityMethodInvestmentsMember" abstract="true" name="OtherEquityMethodInvestmentsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_JepsonHoldingsLimitedMember" abstract="true" name="JepsonHoldingsLimitedMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_LoanOriginatorOtherMember" abstract="true" name="LoanOriginatorOtherMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_CoInvestmentsWithEllingtonAffiliatesOtherMember" abstract="true" name="CoInvestmentsWithEllingtonAffiliatesOtherMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_EquityInvestmentsInSecuritizationRelatedRiskRetentionVehiclesMember" abstract="true" name="EquityInvestmentsInSecuritizationRelatedRiskRetentionVehiclesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_ElizonNATCRE20211LLCMember" abstract="true" name="ElizonNATCRE20211LLCMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_VotingOwnershipMember" abstract="true" name="VotingOwnershipMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_TotalVotingAndNonVotingInterestsMember" abstract="true" name="TotalVotingAndNonVotingInterestsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_EffectiveOwnershipPercentage" abstract="false" name="EffectiveOwnershipPercentage" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="dtr-types1:percentItemType"/>
  <xs:element id="efc_RealEstateOwnedNumberOfPropertiesRollForward" abstract="true" name="RealEstateOwnedNumberOfPropertiesRollForward" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="efc_RealEstateAcquiredThroughForeclosureTransferFromMortgageLoansNumberOfProperties" abstract="false" name="RealEstateAcquiredThroughForeclosureTransferFromMortgageLoansNumberOfProperties" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="efc_BusinessCombinationRealEstateOwnedAcquiredNumberOfProperties" abstract="false" name="BusinessCombinationRealEstateOwnedAcquiredNumberOfProperties" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="efc_RealEstateAcquiredThroughForeclosureDisposalsNumberOfProperties" abstract="false" name="RealEstateAcquiredThroughForeclosureDisposalsNumberOfProperties" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="efc_RealEstateOwnedRollForward" abstract="true" name="RealEstateOwnedRollForward" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="efc_RealEstateAcquiredThroughForeclosureCapitalExpendituresAndOtherAdjustments" abstract="false" name="RealEstateAcquiredThroughForeclosureCapitalExpendituresAndOtherAdjustments" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_RealEstateAcquiredThroughForeclosureAdjustmenttorecordatlowerofcostorfairvalue" abstract="false" name="RealEstateAcquiredThroughForeclosureAdjustmenttorecordatlowerofcostorfairvalue" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_RealEstateAcquiredThroughForeclosureDisposals" abstract="false" name="RealEstateAcquiredThroughForeclosureDisposals" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_BusinessCombinationAcquiredRealEstateOwned" abstract="false" name="BusinessCombinationAcquiredRealEstateOwned" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_RealEstateOwnedAcquiredThroughForeclosureFairValue" abstract="false" name="RealEstateOwnedAcquiredThroughForeclosureFairValue" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="efc_TBASecuritiesPurchaseContractsMember" abstract="true" name="TBASecuritiesPurchaseContractsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_TBASecuritiesSaleContractsMember" abstract="true" name="TBASecuritiesSaleContractsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_CreditDefaultSwapsAssetBackedSecuritiesMember" abstract="true" name="CreditDefaultSwapsAssetBackedSecuritiesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_CreditDefaultSwapAssetBackedIndicesMember" abstract="true" name="CreditDefaultSwapAssetBackedIndicesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_CreditDefaultSwapCorporateBondsMember" abstract="true" name="CreditDefaultSwapCorporateBondsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_CreditDefaultSwapCorporateBondIndicesMember" abstract="true" name="CreditDefaultSwapCorporateBondIndicesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
  <xs:element id="efc_CreditDefaultSwapAssetBackedSecuritiesMember" abstract="true" name="CreditDefaultSwapAssetBackedSecuritiesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="efc_DerivativeMaturityPeriodAxis" abstract="true" name="DerivativeMaturityPeriodAxis" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType"/>
  <xs:element id="efc_DerivativeMaturityPeriodDomain" abstract="true" name="DerivativeMaturityPeriodDomain" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types1:domainItemType"/>
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  <xs:element id="efc_NonSecuritizedCommercialResidentialAndProprietaryReverseMortgageLoansMember" abstract="true" name="NonSecuritizedCommercialResidentialAndProprietaryReverseMortgageLoansMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="efc_SecuritizedProprietaryReverseMortgageLoansMember" abstract="true" name="SecuritizedProprietaryReverseMortgageLoansMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="efc_NetRealizedGain" abstract="false" name="NetRealizedGain" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
</xs:schema>
