Key facts
- AD Mortgage closed its sixth securitization of 2026, ADMT 2026-NQM6, totaling $407.4 million.
- Imperial Fund Asset Management sponsored the transaction.
- AD Mortgage originated 78.63% of the 1,040 loans in the pool.
- The pool has a weighted average original FICO score of 753 and a weighted average combined loan-to-value ratio of 69.3%.
- First-lien loans make up 96.7% of the pool.
- Florida represents the largest state concentration at 24.86%.
Florida-based AD Mortgage has announced the closing of AD Mortgage Trust 2026-NQM6, a $407.4 million residential mortgage-backed securities transaction, marking the company’s sixth securitization of 2026 and its 34th overall. This is also AD Mortgage's 21st deal rated by Fitch Ratings.
Imperial Fund Asset Management sponsored the transaction and serves as the sole securitization platform for AD Mortgage collateral. The securitization pool comprises 1,040 residential mortgages, with AD Mortgage originating approximately 79% and approved correspondent lenders originating the remaining 21% under AD’s underwriting guidelines.
The pool features a weighted average original FICO score of 753 and a weighted average combined loan-to-value ratio of 69.3%. First-lien loans constitute 96.7% of the pool, with second liens at 3.3%. Under the ability-to-repay rule, 44.9% of loans are exempt, 31.3% are safe-harbor qualified mortgages, 20.1% are non-QM, and 3.7% are QM loans with a rebuttable presumption of compliance. Most loans were underwritten using 12- to 24-month bank-statement or debt-service coverage ratio guidelines. Third-party due diligence was completed on all loans with no material findings.
Dmitri Batsev, managing director at Imperial Fund Asset Management, noted the consistency of ADMT pools and the borrower profile aligning with previous offerings. He highlighted the importance of third-party due diligence in supporting institutional demand. This transaction follows AD Mortgage’s $432.4 million ADMT 2026-NQM5 securitization in July. Florida represents the largest state concentration in the latest deal at 24.86%. AD Mortgage will service 100% of the loans.