A&D Mortgage Unveils New Non-QM Securitization: ADMT 2024-NQM6
(Fort Lauderdale, FL) – A&D Mortgage, the #1 Non-QM lender in the United States; Atlas Merchant Capital; and Imperial Fund Asset Management, have successfully priced its latest securitization, A&D Mortgage Trust 2024-NQM6 (ADMT 2024-NQM6). This $303.9 million transaction, backed by 872 newly originated non-prime residential mortgages, reflects the success of this joint venture in addressing the evolving needs of borrowers and investors.
The ADMT 2024-NQM6 securitization leverages a diverse portfolio of loans, with nearly 88% originated through alternative income documentation methods such as bank statements, profit and loss statements, and debt service coverage ratios (DSCRs). The pool reflects the evolving needs of self-employed individuals, investors, and borrowers with unique financial circumstances.
Key Highlights of ADMT 2024-NQM6:
- Transaction Value: $303.9 million
- Loan Count: 872 mortgages
- Loan Origination: All loans originated by A&D Mortgage or its qualified correspondents
- Average Borrower Credit Score: 743
- Weighted Average Loan-to-Value (LTV): 4%
- Percentage of Non-QM Loans: 3%
- Percentage of Investment Property Loans: 3%
- Credit Enhancements: Excess spread and subordination to protect senior certificates
- Servicer: A&D Mortgage (primary), Nationstar Mortgage LLC (d/b/a Mr. Cooper) as Master Servicer
The transaction is supported by robust credit enhancements, including excess spread and subordination, as well as a hybrid pro-rata/sequential payment structure designed to protect senior certificate holders. A&D Mortgage serves as the primary servicer, with Nationstar Mortgage LLC (d/b/a Mr. Cooper) acting as Master Servicer.
Bob Diamond, Founding Partner and CEO of Atlas Merchant Capital, commented:
“Securitization remains a cornerstone for expanding access to capital, especially within the Non-QM mortgage sector. The ADMT 2024-NQM6 transaction underscores our shared commitment with A&D Mortgage to delivering innovative, high-quality asset-backed securities. This deal represents a sound investment, fortified by strong credit enhancements and dynamic collateral, making it resilient against market fluctuations.”
ADMT 2024-NQM6 is the latest success in A&D Mortgage’s collaboration with Atlas Merchant Capital and Imperial Fund Asset Management, following the recently launched ADMT 2024-NQM5. Together, these securitizations illustrate the robust demand for Non-QM lending products and reinforce A&D Mortgage’s leadership in this specialized market segment.
Rated by both S&P Global Ratings and Kroll Bond Rating Agency (KBRA), the transaction’s senior classes achieved favorable preliminary ratings, including AAA (sf) from KBRA. These ratings highlight the quality of the underlying collateral and the strength of A&D Mortgage’s underwriting processes.
To learn more about the program, visit www.admortgage.com. To learn more about investment strategies, visit www.imperialfund.com.
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About Atlas Merchant Capital
Atlas Merchant Capital LLC, founded in 2013 by Bob Diamond and David Schamis, is an alternative asset management company with offices in New York and London. Atlas invests globally in compelling opportunities, particularly within the financial services sector, through a diverse range of funds, including private equity, credit opportunities, and SPAC-focused products. The firm’s investment strategy is rooted in a long-term, partnership-based approach, leveraging its operating and technical expertise. Atlas’s executive team brings decades of experience from top-tier global financial institutions, including Barclays Capital, Cerberus Capital Management, Citigroup, J.C. Flowers & Co, and Fortress Investment Group. For additional information, please visit atlasmerchantcapital.com
About A&D Mortgage
As a premier direct lender, A&D Mortgage offers a full spectrum of Conventional, Government, and Non-QM loan products with 24-hour turnaround times and some of the most competitive rates in the industry. In addition to their Prime Jumbo loan product, A&D Mortgage offers programs for Prime borrowers, Foreign National borrowers. Programs with no income verification are also offered for investment property loans. The company offers free concierge services, bank statement reviews, marketing tools and resources, and more to support the brokers they serve. In 2024, A&D Mortgage received several prestigious industry awards, including being officially verified as the #1 Non-QM Lender and a Top 3 DSCR and Bank Statement Lender by Scotsman Guide. They were also named a Top 10 Wholesale Lender by Forbes, awarded a Stevie for Innovative Mortgage Technologies, and received a Globee for Achievement in Artificial Intelligence.
About Imperial Fund Asset Management
Imperial Fund Asset Management is the investment manager for Imperial Funds founded in 2014 and headquartered in Fort Lauderdale, FL. Imperial Fund seeks to achieve attractive risk-adjusted returns by exploiting inefficiencies in the residential and commercial real estate lending market. Imperial acquires and manages investment portfolios primarily comprised of mortgage loans, real estate debt securities, loans, and related instruments. Imperial Fund’s team combines a deep understanding of credit, loan level analysis, acquisition and management of mortgage loans, and mortgage origination platforms. Imperial Fund employees bring more than 55 years of combined experience in residential and commercial mortgage origination, asset and risk management, finance, capital markets, and structured finance.
A&D Mortgage, LLC is an Equal Housing Lender. NMLS ID #958660. 899 W Cypress Creek Rd, Fort Lauderdale, FL 33309. For important disclosures and state licensing information: