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Alternative Assets  + Real Estate  |  August 22, 2025
Hildene Capital Closes $496M Non-QM Loan Securitization 
Joe Palmisano
By: Joe Palmisano

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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Hildene Capital Management

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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