Hildene Capital Closes $496M Non-QM Loan Securitization 

Hildene Capital Management, LLC announced the close of CROSS 2025-H6, a $496.3 million securitization backed by a pool of 968 non-qualified residential mortgage (non-QM) loans. The deal carries a weighted average FICO score of 748 and a loan-to-value ratio of 71.03%. Rated by Fitch and Kroll, 96.35% of the securities were assigned investment-grade ratings from AAA through BBB-. 

The transaction follows June’s CROSS 2025-H5, a $416.4 million securitization backed by 881 residential mortgage loans with a nearly identical borrower profile—a weighted average FICO of 747 and LTV of 71.26%. All loans across both securitizations originated through Hildene’s strategic partnership with CrossCountry Mortgage. 

“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. 

With six non-QM securitizations completed in 2025 alone, Hildene has now issued 16 transactions since 2022, representing $2.7 billion year-to-date issuance. 

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