What are you talking about? MORL isn't a company, it's not a reit or even an ETF that buys the stocks of mreits.
It is a leveraged ETN designed to track 2x the performance and divdend yield of the Market Vector Mortgage REIT Index. MORT is an ETF designed to track that index so you can say MORL should reflect 2x the price movement and pay out twice the yield of MORT.
It is important to know that an ETN should not be confused with a ETF. A ETN is actually a note issued by a bank and publicly traded. In this case the issuing bank is UBS.
UBS doesn't actually use the proceeds from those that purchased shares of MORL to buy the stocks of mreits in the Market Vector mreit index. Rather the value of MORL and the monthly dividends is just being guaranteed by UBS.
So there is a credit risk involved with MORL. If UBS does go belly up then shares of MORL can become worthless or you may only recover pennies on the dollar. However the chances of UBS going bust currently looks highly unlikely.