"The company originated about 90% of these loans, with its qualified correspondent partners accounting for the other 10%. AD Mortgage continues to move from strength to strength in the mortgage originations and secondary markets, CEO Max Slyusarchuk said in a statement. The latest deal is a testament to the high-quality collateral that the market continues to demand, and we continue to deliver."
"The securitization includes a range of loan types across the prime and nonprime spectrum, such as bank-statement and debt-service-coverage ratio loans. Investment property loans account for 38.6% of the pool, with non-QM loans representing 30.6%. Loans backed by primary residences comprise 51.7% of the pool by balance, while 88.3% of the loans were originated through alternative income documentation methods. The loans in the pool have a weighted average credit score of 748 and a weighted average combined loan-to-value ratio of 67.34%."
AD Mortgage packaged 1,163 newly originated, fixed-rate mortgage loans into an RMBS securitization. The company originated about 90% of the loans; qualified correspondent partners originated the remaining 10%. The pool spans prime and nonprime products, including bank-statement and debt-service-coverage ratio loans. Investment property loans represent 38.6% of the pool, non‑QM loans 30.6%, and primary residence loans 51.7% by balance; 88.3% used alternative income documentation. The weighted average credit score is 748 and the weighted average combined loan‑to‑value ratio is 67.34%. Major banks and broker-dealers served as initial purchasers. AD Mortgage previously secured a $250 million capital commitment to support non‑agency RMBS issuance and expanded via acquisition of Flagstar Bank’s wholesale division.
Read at www.housingwire.com
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