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Hildene Capital Management LLC, a $16.8 billion credit-focused alternative asset manager, announced on Wednesday the recent close of a $496.3 million securitization collateralized by a pool of 968 nonqualified mortgages (non-QMs) with a weighted average FICO score of 748 and a loan-to-value ratio of 71.03%.
The transaction was rated by Fitch and Kroll, with 96.35% being rated investment grade AAA through BBB-.
This transaction follows Hildene’s $416.4 million securitization, which closed in June 2025, featuring a pool of 881 residential mortgages with a weighted average FICO score of 747 and an LTV ratio of 71.26%.
Loans across both securitizations were wholly originated through Hildene’s relationship with CrossCountry Mortgage, a release from Hildene confirmed.
“We are seeing continued demand for high-credit-quality Non-QM origination, as demonstrated by our consistent issuance and the successful close of these securitizations,” said Justin Gregory, portfolio manager at Hildene.
Hildene has completed six non-QM securitizations in 2025 and 16 since the inception of the firm’s relationship with CrossCountry Mortgage in 2022. Year-to-date issuance for the firm totals $2.7 billion.