A&D Mortgage has executed its fourth non-QM securitization of the year, the centerpiece of which is a $209.6 million two-year senior note, which secured a Triple A rating and was priced at 145 basis points over Treasuries.
Kroll Bond Rating Agency has assigned preliminary ratings to nine classes of mortgage pass-through certificates from the ADMT 2024-NQM4 Trust, associated with this transaction.
The total value of this non-prime residential mortgage-backed securities transaction is $369.3 million, backed by 1,055 residential mortgages.
The collateral within this transaction features a substantial portion of loans underwritten with alternative income documentation.
The borrowers in this pool present a non-zero weighted average original credit score of 740 and show significant equity in their properties, with a weighted average combined loan-to-value (CLTV) ratio of 70.7%.
Photo: Mathew Schwartz
