Imperial Fund in the News

Victor Kuznetsov, managing director of Imperial Fund Asset Management, indicated that mortgage rates will not change significantly in the foreseeable future. He said the “best-case scenario” is for rates to hover around 6% for the next two years.

"Aspirational purchases like spending too much on a brand new car, when used cars represent better values but carry less of a 'wow' factor, should definitely be avoided," says Yuri Nosenko, wealth advisor at Imperial Fund Asset Management.

A potential reduction in the construction labor force, due to immigration reforms and the possible deportation of undocumented workers, could slow construction and raise housing costs, impacting market stability, according to Victor Kuznetsov, co-founder and general partner at Imperial Fund Asset Management.

"...as the economy seems to continue its so-called ‘soft landing,’ we expect mortgage rates to drift lower through the summer gradually, but not by more than a percentage point," said Gezunterman.

A&D Mortgage announced the launch of a new non-QM securitization, A&D Mortgage Trust 2025-NQM1 (ADMT 2025-NQM1). The $458.93 million transaction is backed by a pool of 1,290 loans, featuring a weighted average credit score of 745 and a weighted average combined loan-to-value ratio of 68.91%. Approximately 45% are investment property loans.

The transaction was sponsored by Atlas A&D Opportunity Fund III LLC, with A&D Mortgage LLC serving as the loan originator, servicer, and representations and warranties provider.

To improve operational efficiency and investor reporting, A&D Mortgage and Imperial Fund Asset Management have partnered with Clearwater Analytics to refine compliance processes and enhance risk assessment and transparency for institutional investors.

The RMBS deal, done in partnership with Imperial Fund Asset Management, is expected to close on March 13. There are 11 initial investors in the transaction, according to a press release, including Nomura Securities International, Barclays Capital, BMO Capital Markets, BNP Paribas, Jefferies and Piper Sandler & Co.

“Focus on conservative investments like dividend-paying stocks, bonds or money market funds to ensure stable income with minimal risk,” said Yuri Nosenko, wealth advisor at Imperial Fund Asset Management. “It’s also important to keep a portion of funds in liquid instruments, such as money market accounts, to maintain easy access to cash for emergencies.”

Victor Kuznetsov, managing director of Imperial Fund, an affiliate of A&D, said the upcoming acquisition should help increase non-QM production volumes for securitizations which couldresult in larger-sized deals and more issuance of non-QM.

“Our target is to raise $500m throughout Atlas Merchant Capital to deploy into non-QMsecuritizations,” he said. “We raised the capital and now we are seeking to increase production todeploy this capital.”

Victor Kuznetsov, founder and managing partner of Imperial Fund Asset Management, A&D’s liquidity partner for 100% of its collateral, spoke with NMP about the deal after it was announced Thursday afternoon. “First of all,” he explained, “I would say it is a 100% conventional platform." The acquisition will allow the company to expand the reach of its Non-QM products, while adding more conventional loan volume to the Fannie-Freddie business it already does. “Our investors who buy our bonds are going to be happy that we are going to be able to slightly decrease the Florida concentration and increase concentrations in other states. It’s very, very beneficial for us,” he added.

The proposed deal comes after A&D Mortgage and its capital markets affiliate Imperial Fund Asset Management last September inked a joint venture in conjunction with Bob Diamond’s Atlas Merchant Capital which would help provide more capital for mortgage originations.

Allocations to whole loans have focused on specialized residential mortgage securitizers such as Imperial Fund, which invests in non-QM loans. This is particularly favorable for regional banks that need lower-cost exposure. Many in the insurance space are utilizing separately managed accounts (SMAs), which are low-cost investment vehicles that outsource operations costs to the SMA manager. A manager like Imperial Fund conducts due diligence, acquires the loans and manages them on behalf of its clients.