Morningstar DBRS Publishes Residential Mortgage Originator Ranking Report on Acra Lending

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

DBRS Morningstar previously confirmed its MOR RO2 residential mortgage originator ranking on Acra and changed the trend on the ranking to Stable from Positive.

Acra is a specialty finance company focused on non-Qualified Mortgage (Non-QM) lending. Acra is a registered doing business as (dba) of Citadel Servicing Corporation (CSC), which has been originating loans since 2013. CSC was acquired by funds managed by HPS Investment Partners (HPS) in February 2020 and rebranded its origination arm as Acra Lending in 2021 to differentiate that business from the servicing arm. On December 3, 2024, BlackRock and HPS entered into a definitive agreement for BlackRock to acquire HPS for approximately $12 billion, with 100% consideration paid in BlackRock equity. The transaction closed on July 1, 2025.

Acra is licensed in the Nationwide Multistate Licensing System and Registry, and is authorized in 47 states and the District of Columbia to originate and service mortgage loans. Acra offers Non-QM, Fix and Flip, short-term, bridge, business-purpose, and jumbo prime products through loan programs that include Full Documentation, Limited Documentation, Bank Statement, Ability-to-Repay, Investor Cash Flow, Foreign National, Interest Only, Individual Tax Payer Identification Number, and Jumbo Non-QM, as well as a new Platinum program for better-credit borrowers with higher FICO scores and lower loan-to-value ratios than in existing programs. Acra has a fully developed platform and has originated more than $16.7 billion in loans since 2013. In 2024, the Company originated or acquired more than 7,000 mortgage loans with an unpaid principal balance of more than $3.5 billion, representing an increase in volume of $1.2 billion over 2023 originations. Approximately 83% of Acra's originations are acquired through the wholesale channel. The correspondent and retail channels account for approximately 14% and 3% of originations, respectively.

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

Morningstar DBRS 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 (June 28, 2024), which can be found on https://dbrs.morningstar.com under Methodologies & Criteria.

For more information on this industry, visit https://dbrs.morningstar.com or contact us at [email protected].

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