A&D Mortgage: non-QM programs reviewed
A&D Mortgage is the largest non-QM lender in the wholesale channel — #1 by Scotsman Guide's 2024 submitted volume, and larger still after absorbing Mr. Cooper's wholesale and non-delegated correspondent business in 2025. If you get several non-QM quotes through a broker, there's a good chance one of them is A&D-funded.
The key thing to understand: A&D is wholesale-only. Borrowers cannot apply directly — its programs are priced and submitted exclusively through independent mortgage brokers. Its published bank statement guidelines are among the more detailed in the market, including how much of your deposits actually count as income.
Program details
Channel: Wholesale only (via a broker) · NMLS #958660 (verify on NMLS Consumer Access)
| Factor | Published guideline | Source |
|---|---|---|
| Statements accepted | 12 or 24 months | source |
| Deposit counting | 100% of personal-account deposits; business accounts get a 50% standard expense ratio, reducible with a third-party expense letter or CPA-prepared P&L | source |
| Max CLTV | 90% purchase / 80% cash-out | source |
| Loan amounts | Up to $4M purchase; up to $3M cash-out | source |
| Minimum credit score | No flat floor published; 680/700 thresholds appear inside the cash-out limit tiers | source |
| Eligible properties | SFR, 2–4 units, warrantable & non-warrantable condos, condotels, PUDs, short-term rentals — primary, second home, or investment | source |
Published guidelines as of 2026-07-24 — not a quote, pre-approval, or offer of credit. Actual terms depend on full underwriting.
Other non-QM programs A&D Mortgage confirms offering: DSCR · Second mortgage / HELOC-style programs.
Strengths
- The published deposit-counting rules (100% personal / 50% business expense ratio, reducible with documentation) are exactly the lever that decides how much income a bank statement file shows — and most lenders don't publish theirs.
- Scale: the biggest book in non-QM wholesale generally means broad broker availability and program stability.
- Wide property-type box — condotels, non-warrantable condos and short-term rentals are explicitly eligible, which many programs exclude.
Considerations
- Wholesale-only: you can't apply directly, so access and part of your pricing depend on the broker you choose.
- Self-employment seasoning isn't published — have your broker confirm it in writing for your scenario.
- Program-page details were verified from the lender's indexed page (the live page blocks automated reading) as of the retrieval date — treat exact figures as confirm-with-broker.
Who it fits
Not sure a bank-statement program is right at all? Start with the bank statement loan guide, estimate your qualifying income with the bank statement estimator, or read how to compare non-QM lenders.
FAQ
No. A&D is a wholesale (third-party origination) lender — its programs are available only through independent mortgage brokers. If you want an A&D quote, ask a broker who works in non-QM to price your scenario with them.
Per its published program: 100% of deposits from personal accounts count, while business-account deposits are reduced by a standard 50% expense ratio — which can be lowered if a third party prepares a business expense letter or a CPA prepares a profit-and-loss statement. That difference alone can swing qualifying income dramatically.
Size doesn't change your rate by itself, but it usually means more brokers can access the programs, guidelines are stable, and unusual property types (condotels, short-term rentals) have an established box. You still compare the final quote, not the lender's volume ranking.
Sources
- A&D Mortgage — Bank Statement program (12/24 month)
- A&D Mortgage — DSCR program
- Businesswire — A&D completes acquisition of Mr. Cooper's wholesale business
Educational information only — not financial advice, and not a quote, pre-approval, or offer of credit. Mortgage Merlin is a publisher, not a lender or broker, and is not affiliated with A&D Mortgage. Program details change; confirm directly with the lender.