UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM ABS-15G

ASSET-BACKED SECURITIZER
REPORT PURSUANT TO SECTION 15G OF
THE SECURITIES EXCHANGE ACT OF 1934

 

MFRA NQM DEPOSITOR, LLC

 

Check the appropriate box to indicate the filing obligation which this form is intended to satisfy:

 

Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period______________ to _________________

 

Date of Report (Date of earliest event reported) __________________

 

Commission File Number of securitizer: __________________

 

Central Index Key Number of securitizer:__________________

 

 

Name and telephone number, including area code, of the person to contact in connection with this filing

 

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(l) ☐

 

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ☐

 

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ☐

 

Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

 

Central Index Key Number of depositor: 0001803775

 

MFA 2026-NQM3 Trust

 

(Exact name of issuing entity as specified in its charter)

 

Central Index Key Number of issuing entity (if applicable):

 

Central Index Key Number of underwriter (if applicable): ________________

 

Patrick Murnen, 212-207-6489

Name and telephone number, including area code, of the person to contact in connection with this filing

 

 

   
   

PART I: REPRESENTATION AND WARRANTY INFORMATION

 

Item 1.01Initial Filing of Rule l5Ga-1 Representations and Warranties Disclosure

 

Not Applicable

 

Item 1.02Periodic Filing of Rule l5Ga-1 Representations and Warranties Disclosure

 

Not Applicable

 

Item 1.03Notice of Termination of Duty to File Reports under Rule l5Ga-1

 

Not Applicable

 

 

 

PART II – FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS

 

Item 2.01 Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer

 

The disclosures required by Rule 15Ga-2 (17 CFR 240.15Ga-2) are attached as Exhibits to this Form ABS-15G. Please see the Exhibit Index for the related information.

 

Item 2.02 Findings and Conclusions of a Third-Party Due Diligence Report Obtained by the Underwriter

 

Not Applicable

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  MFRA NQM Depositor, llc
     
Date: September 18, 2026 /s/ Patrick Murnen
  Name: Patrick Murnen
  Title: Vice President

 

 

 

EXHIBIT INDEX

 

99.01   AMC Diligence, LLC (“AMC”) Narrative
1.   AMC Exceptions and Grades Report
2.   AMC Valuation Report
3.   AMC Data Compare
4.   AMC Credit Exception Grades
5.   AMC Credit Exception Grades
6.   AMC Credit Valuation
7.   AMC Credit Data Compare
     
99.02   Consolidated Analytics, Inc. (“CA”) Narrative
1.   CA Due Diligence Standard Report
2.   CA Supplemental Report
3.   CA Rating Agency Grades Summary Report
4.   CA Valuations Report
5.   CA Data Compare Report
     
99.03   Clayton Services LLC (“Clayton”) Narrative
1.   Clayton Conditions Summary Report
2.   Clayton Conditions Detail Report
3.   Clayton Loan Grades Report
4.   Clayton Standards Report
5.   Clayton Valuations Summary Report
6.   Clayton Waived Conditions Report
7.   Clayton ATR QM Data Report
8.   Clayton Non ATR QM Upload Report
9.   Clayton Loan Level Tape Compare Report
     
99.04   Clarifii LLC (“Clarifii”) Narrative
1.   Clarifii Valuation Report
2.   Clarifii Supplemental Data Report
3.   Clarifii Rating Agency Grades Summary Report
4.   Clarifii Data Compare Report
5.   Clarifii Rating Agency Grades Detail Report
6.   Clarifii Business Purpose Supplement
7.   Clarifii ATR or QM Report
   

 

 

99.05   Evolve Mortgage Services, LLC (“Evolve”) Narrative
1.   Evolve Rating Agency Grades Report
2.   Evolve Exception Detail Report
3.   Evolve Valuation Report
4.   Evolve Data Compare Report
5.   Evolve QM ATR Data Report
6.   Evolve Additional Data Report
7.   Evolve Business Purpose Report
     
99.06   Infinity IPS, Inc. (“Infinity”) Narrative
1.   Infinity Supplemental Data Report
2.   Infinity Business Purpose Supplement Report
3.   Infinity Rating Agency Grades Detail Report
4.   Infinity Rating Agency Grades Summary Report
5.   Infinity Valuation Report
6.   Infinity ATR or QM Report
7.   Infinity Data Compare Report
     
99.07   Maxwell Diligence Solutions, LLC (“Maxwell”) Narrative
1.   Maxwell Standard Exceptions Report
2.   Maxwell Grading Report
3.   Maxwell Valuation Report
4.   Maxwell Supplemental Data Report
5.   Maxwell Business Purpose Report
6.   Maxwell Data Compare Report
     
99.08   Opus Capital Markets Consultants, LLC (“Opus”) Narrative
1.   Opus Standard Findings Report
2.   Opus Rating Agency Grades Report
3.   Opus ATR or QM Report
4.   Opus Supplemental Data Report
5.   Opus Business Purpose Supplement Report
6.   Opus Valuation Report
7.   Opus Data Compare
     
99.09   Selene Diligence LLC (“Selene”) Narrative
1.   Selene Rating Agency Grades Summary Report
2.   Selene Standard Findings Report
3.   Selene Valuation Report
4.   Selene Mortgage Loan Schedule Report
5.   Selene Supplemental Data Report
6.   Selene Business Purpose Supplement Report
7.   Selene Data Compare Report

   

 

 


ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

AMC DILIGENCE, LLC (AMC) NARRATIVE

AMC EXCEPTIONS AND GRADES REPORT

AMC VALUATION REPORT

AMC DATA COMPARE

AMC CREDIT EXCEPTION GRADES

AMC CREDIT EXCEPTION GRADES

AMC CREDIT VALUATION

AMC CREDIT DATA COMPARE

CONSOLIDATED ANALYTICS, INC. (CA) NARRATIVE

CA DUE DILIGENCE STANDARD REPORT

CA SUPPLEMENTAL REPORT

CA RATING AGENCY GRADES SUMMARY REPORT

CA VALUATIONS REPORT

CA DATA COMPARE REPORT

CLAYTON SERVICES LLC (CLAYTON) NARRATIVE

CLAYTON CONDITIONS SUMMARY REPORT

CLAYTON CONDITIONS DETAIL REPORT

CLAYTON LOAN GRADES REPORT

CLAYTON STANDARDS REPORT

CLAYTON VALUATIONS SUMMARY REPORT

CLAYTON WAIVED CONDITIONS REPORT

CLAYTON ATR QM DATA REPORT

CLAYTON NON ATR QM UPLOAD REPORT

CLAYTON LOAN LEVEL TAPE COMPARE REPORT

CLARIFII LLC (CLARIFII) NARRATIVE

CLARIFII VALUATION REPORT

CLARIFII SUPPLEMENTAL DATA REPORT

CLARIFII RATING AGENCY GRADES SUMMARY REPORT

CLARIFII DATA COMPARE REPORT

CLARIFII RATING AGENCY GRADES DETAIL REPORT

CLARIFII BUSINESS PURPOSE SUPPLEMENT

CLARIFII ATR OR QM REPORT

EVOLVE MORTGAGE SERVICES, LLC (EVOLVE) NARRATIVE

EVOLVE RATING AGENCY GRADES REPORT

EVOLVE EXCEPTION DETAIL REPORT

EVOLVE VALUATION REPORT

EVOLVE DATA COMPARE REPORT

EVOLVE QM ATR DATA REPORT

EVOLVE ADDITIONAL DATA REPORT

EVOLVE BUSINESS PURPOSE REPORT

INFINITY IPS, INC. (INFINITY) NARRATIVE

INFINITY SUPPLEMENTAL DATA REPORT

INFINITY BUSINESS PURPOSE SUPPLEMENT REPORT

INFINITY RATING AGENCY GRADES DETAIL REPORT

INFINITY RATING AGENCY GRADES SUMMARY REPORT

INFINITY VALUATION REPORT

INFINITY ATR OR QM REPORT

INFINITY DATA COMPARE REPORT

MAXWELL DILIGENCE SOLUTIONS, LLC (MAXWELL) NARRATIVE

MAXWELL STANDARD EXCEPTIONS REPORT

MAXWELL GRADING REPORT

MAXWELL VALUATION REPORT

MAXWELL SUPPLEMENTAL DATA REPORT

MAXWELL BUSINESS PURPOSE REPORT

MAXWELL DATA COMPARE REPORT

OPUS CAPITAL MARKETS CONSULTANTS, LLC (OPUS) NARRATIVE

OPUS STANDARD FINDINGS REPORT

OPUS RATING AGENCY GRADES REPORT

OPUS ATR OR QM REPORT

OPUS SUPPLEMENTAL DATA REPORT

OPUS BUSINESS PURPOSE SUPPLEMENT REPORT

OPUS VALUATION REPORT

OPUS DATA COMPARE

SELENE DILIGENCE LLC (SELENE) NARRATIVE

SELENE RATING AGENCY GRADES SUMMARY REPORT

SELENE STANDARD FINDINGS REPORT

SELENE VALUATION REPORT

SELENE MORTGAGE LOAN SCHEDULE REPORT

SELENE SUPPLEMENTAL DATA REPORT

SELENE BUSINESS PURPOSE SUPPLEMENT REPORT

SELENE DATA COMPARE REPORT