Imperial Fund in the News

The latest transaction from the Imperial Fund Mortgage Trust will raise $364.8 million in mortgage-backed securities, secured by a pool of primarily newly originated and fixed-rate mortgage loans.

Imperial Fund Mortgage Trust 2023-NQM1 is backed by 974 loans valued at $364.84 million, with 93.8% originated by A&D.

Imperial Fund, a mortgage investment fund headquartered in Hollywood, Fla., has issued its 12th RMBS deal backed by non-QM performing loans.

The Imperial Fund Mortgage Trust is returning to raise funds from the capital markets, this time issuing $322.8 million in mortgage-backed securities secured by a diverse pool of fixed- and adjustable-rate and prime and non-prime first-lien home loans.

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Imperial Fund Mortgage Trust 2022-NQM4 (IMPRL 2022-NQM4), a $392.1 million non-prime RMBS transaction.

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Imperial Fund Mortgage Trust 2022-NQM3 (IMPRL 2022-NQM3), a $402.7 million non-prime RMBS transaction. The underlying collateral, comprising 873 residential mortgages, is characterized by a notable concentration of alternative income documentation (95.5%). With respect to the Ability-to-Repay/Qualified Mortgage (ATR/QM) rule, approximately 49.8% of the loans were categorized as non-qualified mortgages (Non-QM). The remaining loans (50.2%) were categorized as exempt from the ATR/QM rule due to being originated for business purposes (i.e., investment properties).

Imperial Fund Mortgage Trust is preparing to tap the capital markets for $408.8 million in residential mortgage-backed securities (RMBS), in a deal where A&D Mortgage plays an enormous role.

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Imperial Fund Mortgage Trust 2022-NQM2 (IMPRL 2022-NQM2), a $408.9 million non-prime RMBS transaction.

The representation of five-year hybrid ARM mortgages is at the lowest level since the Imperial 2020-NMQ1 deal hit the market, with a near-even split of 51.9% of fixed-rate mortgages to 45.1% of the collateral pool, according to DBRS Morningstar, which expects to rate the notes. Since then the 2021-NMQ1 had a 25.2% concentration of five-year hybrid ARMs, then 4.0% in the Imperial 2021-NMQ2.

Imperial Fund Mortgage Trust 2021-NQM2 is preparing to issue about $237.4 million in mortgage pass-through certificates, to continue funding mortgages to a range of borrowers, including those funding investment purchases.

The wholesale lender, together with Imperial Fund, closed the securitization last Friday, which was for mortgage loans originated and serviced by A&D Mortgage – the primary servicer of the loans. Non-QM loans account for approximately 72% of the pool, while 28% are ATR-exempt investor property loans.

Imperial Fund, an asset management company, is affiliated with A&D, a non-QM lender.