Atlas inks deal with A&D to securitise mortgage loans
Atlas Merchant Capital, the investment firm founded by former Barclays chief Bob Diamond, has signed a joint venture with A&D Mortgage to support the expansion of A&D’s $7bn (£5.3bn) mortgage securitisation platform.
The joint venture will draw from a combination of internal and third-party capital to purchase mortgage loans originated and serviced by A&D and other lenders with the goal of securitising them.
It will also invest across a range of securities in the sponsored transactions.
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“Atlas Merchant Capital has sought ways to capitalise on the dislocation in the mortgage market caused by the rapid rise of interest rates throughout the last few years and we are thrilled to be partnering with A&D, a best-in-class lender, to execute on this opportunity,” said Bob Diamond, co-founder and chief executive officer at Atlas Merchant Capital.
“The timing of this partnership could not be better as the tone in the mortgage market has been improving, which would provide a large tailwind for this asset class.”
On 26 August 2024, the joint venture launched a new securitised products investment fund and closed its first sponsored residential mortgage-backed securities deal with $370m of mortgage collateral sourced from A&D. The deal was rated by S&P Global and Kroll Bond Rating Agency.
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“Atlas Merchant Capital is an ideal partner to help us take our business to the next level,” said Max Slyusarchuk, founder and chief executive officer at A&D Mortgage.
“Over the past two decades, we’ve expanded our operation to become the top non-agency mortgage lender nationwide.
“Our joint venture partnership with Atlas will accelerate A&D’s growth and our mission of helping more Americans achieve their dream of homeownership.”
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