(Fort Lauderdale, FL) – AD Mortgage, an established provider of non-QM loans and residential mortgage-backed securities (RMBS),
and Imperial Fund Asset Management (“Imperial Fund”), an institutional investment manager specializing in the securitization of non-agency residential mortgages and the retention of non-agency RMBS tranches in portfolio,
are pleased to announce the closing of A&D Mortgage Trust 2026-NQM4 (ADMT 2026-NQM4), the platform’s 32nd securitization
AD Mortgage has mandated Morgan Stanley as Structuring Lead; ATLAS SP, BMO, J.P. Morgan, Mizuho, and Nomura as Joint Bookrunners; and Academy Securities, AmeriVet Securities, Natixis, and Piper Sandler as Co-Managers.
A defining feature of the $407 million transaction is the continued reduction in Florida loan concentration, which remains at 25.0% of the collateral pool. The top three states — Florida,
California, and New York — collectively represent 56.5% of the pool, reflecting the balanced national footprint AD Mortgage and Imperial Fund have built through their expanded broker and correspondent network.
AD Mortgage’s 2025 acquisition of the wholesale and non-delegated correspondent lending businesses from Mr. Cooper, which expanded AD’s broker network to more than 9,000 partners,
continues to support origination volume across markets well beyond the company’s Fort Lauderdale headquarters. The result is a more geographically diversified collateral pool with meaningful representation from California (17.2%) and New York (14.3%).
“ADMT 2026-NQM4 is our 32nd securitization transaction and fourth issuance this year, and it reflects the consistency and scale we have built into our origination platform,” said Victor Kuznetsov, Managing Director of Imperial Fund Asset Management.
“Our growing national network continues to generate non-QM collateral across a diversified borrower base and geographic footprint, and we appreciate the continued participation from investors in the AD Mortgage securitization program.”
ADMT 2026-NQM4 represents the twelfth securitization under Atlas A&D Opportunity Fund III — Imperial Fund’s most recent investment vehicle,
established in partnership with Atlas Merchant Capital — and the seventh transaction executed in collaboration with Canyon Partners,
whose $250 million capital commitment continues to support the ADMT non-agency loan securitization program. For additional information, please refer to the press release
here.
The ADMT 2026-NQM4 transaction underscores the continued development of Imperial Fund’s and AD Mortgage’s securitization platform, providing investors with access to diversified pools of mortgage-backed securities.
Key Highlights of ADMT 2026-NQM4
- Transaction Volume: $407 million
- Loan Count: 979
- Loan Origination: Majority of loans originated by A&D Mortgage or its qualified correspondents
- Average Borrower Credit Score: 755
- Weighted Average Combined Loan-to-Value (CLTV): 68.44 %
- Largest State Concentration: Florida – 25%
- Servicer: A&D Mortgage LLC
The transaction is rated by both
Fitch Ratings and
KBRA features a split AAA-rated tranche,
highlighting the strength of the underlying loan pool and the credit enhancement structure.
To learn more, visit our disclaimer page:
Transparency and Disclosure
About Imperial Fund Asset Management
Imperial Fund Asset Management (“Imperial Fund”) is the asset 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 real estate lending market.
Imperial Fund 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 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.
About AD Mortgage
As a premier direct mortgage lender, AD 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 AD Power Jumbo loan product, AD Mortgage offers programs for Prime borrowers, Foreign National borrowers, as well as borrowers with imperfect credit histories.
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 2025, AD Mortgage received several prestigious industry awards, including HousingWire Vanguard Award, PROGRESS in Lending’s Lending Luminary Award, National Mortgage Professional’s Legend of Lending Award, HousingWire Industry Titan Award.
This year, the company was also featured in CBS, Bloomberg, and Inc., underscoring its growing influence and leadership in the mortgage industry.
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:
https://admortgage.com/important-disclosures/
Solutions to meet your goals
Strategies for Institutional Investors &
Financial Professionals
Imperial Fund Asset Management is a SEC-registered investment adviser.
SEC registration does not imply a certain level of skill or training.
The information provided is for informational purposes only and should not be considered investment advice or a solicitation to buy or sell any securities.
All investments involve risk, including the possible loss of principal. Please review our
full disclaimer for additional information.
