A&D
will
provide
the
collateral
for
the
securitizations.
Imperial,
which
has
already
executed
25
securitizations
since
2020,
will
structure,
manage
and
distribute
the
non-agency
RMBS.

Founded
in
2005,
A&D
originated
$3
billion
in
mortgages
in
2024.
Last
year,
the
company

entered
into
a
joint
venture
with

Atlas
Merchant
Capital,
the
investment
firm
led
by
Bob
Diamond
and
David
Schami,
to
scale
its
securitization
platform.
Earlier
this
year,
A&D

acquired
the
wholesale
division
of

Flagstar
Bank
from

Mr.
Cooper
Group.

“This
new
collaboration
with
Canyon
and
Imperial
will
enable
A&D
to
further
expand
our
reach
and
continue
providing
innovative
and
flexible
mortgage
solutions
to
a
diverse
range
of
borrowers
as
we
continue
to
grow
our
business,”

Max
Slyusarchuk,
CEO
of
A&D
Mortgage
and
co-Founder
of
Imperial,
said
in
a
statement.

The
partners
said
the
first
securitization
is
expected
to
launch
in
the
coming
weeks.

Canyon
Partners,
a
$28
billion
global
alternative
investment
manager,
will
be
purchasing
the
non-agency
bonds
—
securities
that
fall
outside
the
eligibility
guidelines
of
government-sponsored
enterprises
like


Fannie
Mae
and


Freddie
Mac.

Adam
Rizkalla,
managing
director
at
Canyon
Partners,
said
in
a
statement
that
his
firm
has
been
investing
in
non-agency
mortgage
products
for
many
years
and
that
the
new
“commitment
underscores
our
confidence
in
the
significant
growth
potential”
of
the
market.

“We
believe
this
is
a
compelling
environment
to
put
capital
to
work
in
this
asset
class,
and
the
combined
strength
of
this
partnership
will
deliver
attractive
returns
while
also
contributing
to
greater
stability
and
accessibility
in
the
housing
market,”
Rizkalla
said.