Atlas Service provider Capital, the funding agency based by former Barclays chief Bob Diamond, has signed a three way partnership with A&D Mortgage to assist the growth of A&D’s $7bn (£5.3bn) mortgage securitisation platform.
The three way partnership will draw from a mixture of inside and third-party capital to buy mortgage loans originated and serviced by A&D and different lenders with the aim of securitising them.
It would additionally make investments throughout a spread of securities within the sponsored transactions.
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“Atlas Service provider Capital has sought methods to capitalise on the dislocation within the mortgage market brought on by the speedy rise of rates of interest all through the previous few years and we’re thrilled to be partnering with A&D, a best-in-class lender, to execute on this chance,” mentioned Bob Diamond, co-founder and chief govt officer at Atlas Service provider Capital.
“The timing of this partnership couldn’t be higher because the tone within the mortgage market has been enhancing, which would offer a big tailwind for this asset class.”
On 26 August 2024, the three way partnership launched a brand new securitised merchandise funding fund and closed its first sponsored residential mortgage-backed securities cope with $370m of mortgage collateral sourced from A&D. The deal was rated by S&P International and Kroll Bond Score Company.
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“Atlas Service provider Capital is a perfect accomplice to assist us take our enterprise to the subsequent degree,” mentioned Max Slyusarchuk, founder and chief govt officer at A&D Mortgage.
“Over the previous twenty years, we’ve expanded our operation to turn out to be the highest non-agency mortgage lender nationwide.
“Our three way partnership partnership with Atlas will speed up A&D’s development and our mission of serving to extra People obtain their dream of homeownership.”
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