A&D Mortgage Review

A&D Mortgage at a glance: Scotsman Guide’s No. 1 non-QM lender by 2024 volume, with one of the widest DSCR underwriting boxes we cover, broker-only pricing, and long prepayment penalties.

What is A&D Mortgage?

A&D Mortgage is a Fort Lauderdale-based wholesale lender (NMLS #958660), founded in 2005 and focused on non-QM lending since 2015. It topped Scotsman Guide’s 2024 Top Non-QM Lenders ranking with $2.25 billion in verified non-QM volume, and in April 2025 it acquired Mr. Cooper’s wholesale and correspondent origination business, adding a network of more than 8,500 broker partners. The key thing to understand: A&D doesn’t lend to consumers directly. You reach its programs through an independent mortgage broker, who submits your file to A&D behind the scenes.

A&D’s DSCR loan program

A&D’s DSCR program runs $100,000 to $3 million with LTV up to 80% at a 700 FICO, stepping down to a 620 floor at 65% LTV and $1 million. It’s one of the more flexible programs on credit-and-ratio: the company advertises "DSCR as low as 0," and its underwriting matrix confirms sub-0.75 ratios are allowed — though anything under 1.0 requires a 680 FICO, and low-ratio cash-outs cap at 65% LTV. Property coverage is unusually broad: short-term rentals to 80% LTV, condotels, rural homes, and 5–8 unit multifamily and mixed-use. Interest-only is available with a 120-month IO period, LLC vesting works, and first-time investors qualify with tighter caps. Prepayment penalties run up to five years, with state-by-state exceptions.

Strengths

A&D’s scale claims check out — its #1 non-QM ranking is independently verified by Scotsman Guide, not just marketing. The DSCR box is genuinely wide: zero-ratio options, a 620 minimum FICO, condotels and short-term rentals, 40-year interest-only structures, and foreign national and ITIN variants most lenders don’t offer. Its published trust signals are solid: an A- BBB rating with accreditation since 2013, only six BBB complaints in three years, and 55 CFPB complaints ever — all answered on time.

Watch-outs

You can’t go to A&D directly — pricing arrives through your broker, and A&D publishes no consumer-facing rates or fee schedule, so comparison shopping depends entirely on your broker’s markup (capped at 3% borrower-paid). Prepayment penalties can run five years at six months’ interest, among the longer structures in the category. CFPB complaints, while modest, are rising with growth and cluster in servicing — payment processing and credit-reporting errors — and servicing is handled by subservicer Shellpoint, not the team that closed your loan. A 2026 borrower lawsuit over foreclosure documentation is pending but unproven.

Who A&D fits

A&D fits investors who already work with a mortgage broker and need flexibility a mainstream DSCR box won’t allow: short-term rentals, condotels, sub-1.0 or no-ratio deals, ITIN or foreign national borrowers, or small multifamily up to eight units. It’s a weaker fit if you want to shop rates directly, expect to pay the loan off early, or prefer a lender that services in-house.