AD Mortgage has launched a $407 million non-QM securitization, its fourth deal of 2026, as the company continues to diversify collateral beyond its home base in Florida and deepen its national origination footprint, the company announced on Thursday.

AD Mortgage Trust 2026-NQM4 is backed by 979 loans that are primarily fixed rate. Florida properties account for 25% of the pool, down from about 40% in transactions posted earlier this year, according to the announcement.

California and New York represent 17.2% and 14.3% of the pool, respectively, combining with Florida to account for 56.5% of the collateral.

The transaction details ⇒

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