DBRS Morningstar Publishes Residential Mortgage Originator Ranking Report on Acra Lending

DBRS, Inc. (DBRS Morningstar) published its residential mortgage originator ranking report on Acra Lending (Acra or the Company).

DBRS Morningstar previously assigned an MOR RO2 residential mortgage originator ranking to Acra. The trend on the ranking is Stable.

Acra is a specialty finance company focused on nonqualified mortgage (non-QM) lending. Acra offers non-QM, QM exempt, multifamily, fix and flip, and jumbo prime products through wholesale, consumer-direct lending, and correspondent channels. Acra is a registered dba of Citadel Servicing Corporation (CSC), which has been originating loans since 2013. CSC was acquired by funds managed by HPS Investment Partners in February 2020, and in 2021 it rebranded its origination arm as Acra Lending to differentiate that business from the servicing arm. The Company has originated more than $8.6 billion in loans since 2013 and is fully licensed in 40 states and the District of Columbia.

All rankings are subject to surveillance, which could result in rankings being upgraded, downgraded, placed under review, confirmed, or discontinued by DBRS Morningstar.

DBRS Morningstar mortgage originator rankings are not credit ratings. Instead, they are designed to evaluate the quality of the parties that originate residential mortgage loans. Although the originator’s financial condition contributes to the applicable ranking, its relative importance is such that an originator’s ranking should never be considered as a proxy of its creditworthiness.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The principal methodology is U.S. Residential Mortgage Originator Rankings (August 28, 2020), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

The DBRS Morningstar Sovereign group releases baseline macroeconomic scenarios for rated sovereigns. DBRS Morningstar analysis considered impacts consistent with the baseline scenarios as set forth in the following report: https://www.dbrsmorningstar.com/research/384482/baseline-macroeconomic-scenarios-application-to-credit-ratings.

The ranked entity or its related entities did participate in the ranking process for this rating action. DBRS Morningstar had access to relevant internal documents of the ranked entity or its related entities in connection with this ranking action.

For more information on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].

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