CrossCountry Mortgage DSCR Loans 2026: 10,082 Investor Loans

What CrossCountry is, and how you reach it

CrossCountry Mortgage is a private retail mortgage lender, not a DSCR specialist. The legal entity that reports to HMDA is CROSSCOUNTRY MORTGAGE, LLC, a Delaware company with LEI 549300VZVN841I2ILS84, headquartered at 2160 Superior Avenue, Cleveland, Ohio, status ACTIVE, with a previous legal name of CROSSCOUNTRY MORTGAGE, INC. (GLEIF record). In a press release it filed with the SEC on May 28, 2026, the company describes itself as “the nation’s number one distributed retail mortgage lender with more than 9,000 employees operating over 1,000 branches”, “a direct lender”, and gives its NMLS number as #3029. That is its own description of itself. We did not verify the branch count, and you can check the licence at NMLS Consumer Access.

That makes it the opposite of the broker-only model we describe on our UWM review. Whoever is quoting you at CrossCountry is a CrossCountry loan officer, and the compensation of that person is not in any federal file.

What the 2025 HMDA file shows: 10,082 investor loans

Lenders above a size threshold report every mortgage application to the Home Mortgage Disclosure Act (HMDA). We downloaded CrossCountry's complete 2025 file from the FFIEC data browser (all states, all actions, 192,498 records) and kept the records coded as investment property. The 10,082 originations were flagged as made primarily for a business or commercial purpose, which is how HMDA treats investor loans.

Of the 10,082 loans, 9,850 have a 360-month term and 166 a 180-month term; 8,177 are on one-unit properties, 1,155 on two units, 425 on three and 325 on four; 7,325 are purchases, 1,357 cash-out refinances, 1,147 refinances and 253 home-improvement loans; 313 are interest-only; 163 are second liens and 153 are lines of credit. The file gives no discount points, origination charges, total loan costs or prepayment term for any of the 10,082 (all reported as NA), so it cannot tell you what a CrossCountry investor loan costs beyond its note rate.

Two products inside one label

HMDA has no DSCR field, so we label by what is reported. A DSCR-type loan is a conventional, first-lien, closed-end, business-purpose loan on a one-to-four-unit property with a term of 30 years or more and no debt-to-income ratio reported; the same definition drives our DSCR lenders ranked by loans page, and it gives CrossCountry 4,088 loans there too.

Of the 5,930 income-documented loans, 5,272 ran through a Fannie Mae or Freddie Mac automated underwriting system (our reading of the AUS field). The 4,088 DSCR-type loans are the business we are interested in here: 3,091 are on one-unit properties, 566 on two, 251 on three and 180 on four; 2,775 are purchases, 781 cash-out refinances and 483 refinances; only 219 (5.4%) are interest-only against 10.7% for other lenders; and the median loan-to-value as reported is 75.0% (90th percentile 80.0%) against 73.7% for other lenders (our arithmetic).

DSCR-type loans: where CrossCountry prices against the market

CrossCountry made 4,088 of the 154,321 DSCR-type loans we count nationally for 2025 (2.6%, our arithmetic), ranking 13th of 466 lenders. UWM made 14,836, Champions Funding 7,110 and BPL Mortgage 6,827. The comparison below sets CrossCountry against all other lenders.

CrossCountry's median is 0.125 below the market's, but it also writes larger loans, and bigger loans cost less everywhere. Comparing like with like by loan size removes the edge.

The honest reading: CrossCountry is priced at the market from $150,000 up, above it on the smaller loans, and below it on the largest. HMDA reports the note rate only; points, lender credits and fees are blank, so a note rate that looks high can come with lower points and the reverse. Use the table to test a quote, not to rank CrossCountry.

Who ends up holding the loans

HMDA records who bought the loan within the year. Of the 4,088 DSCR-type loans, 2,682 (65.6%) went to a private securitizer, 861 (21.1%) were not sold in 2025, 479 (11.7%) went to a credit union, mortgage company or finance company, 49 to other purchasers and 17 to a bank; none went to Fannie Mae or Freddie Mac (our arithmetic). The income-documented loans look different: 2,283 (38.5%) went to a credit union, mortgage company or finance company, 1,326 (22.4%) to private securitizers, 864 (14.6%) were not sold, 957 (16.1%) to Fannie Mae or Freddie Mac and 364 (6.1%) to banks. HMDA does not name the buyers.

Where CrossCountry lends

CrossCountry made DSCR-type loans in all 50 states, none in the District of Columbia, and ranks first in none. All investor loans, not only DSCR-type, came from 52 jurisdictions including the District of Columbia and Puerto Rico; the largest were Florida (1,502), California (893), New Jersey (761), Pennsylvania (655), Ohio (616), Texas (603), New York (556) and Arizona (398).

In California only 251 of its 893 investor loans are DSCR-type; the rest report an income ratio. For a state view with lender-by-lender tables see our Florida, New Jersey, Texas and Pennsylvania pages.

Applications and denials

Of the 10,689 investor files CrossCountry decided (originated or denied), it denied 607, 5.7%, the same as its 5.8% for principal residences and 6.3% for second homes. For all other lenders the investor denial rate was 20.3% (our arithmetic from the originated and denied files). The first-listed reason was collateral in 158 denials, debt-to-income ratio in 140, other in 89, credit history in 61, unverifiable information in 59, insufficient cash in 56 and an incomplete application in 44. HMDA does not say which denied files were DSCR-type, so we do not split them; our denial-rate page has the state view.

A low denial rate has two readings, and the file cannot separate them. Either CrossCountry approves almost everything it decides, or weaker files leave before a decision: 4,605 of its investor records, 29.1%, were withdrawn by the applicant, and another 234 were closed incomplete.

Rocket Mortgage and PennyMac have almost no DSCR-type loans (38 and 5), and Kiavi's 9.95% median is not comparable with 30-year medians, so read the columns across lenders with care. See our Rocket Mortgage investor-loan page for the consumer-style side.

What CrossCountry says about its DSCR product, and what we could not verify

This section is where a review usually fakes it, so here is the evidence. crosscountrymortgage.com returned HTTP 403 to our requests and to our fetch tool, so we cannot cite the live product page. The Internet Archive holds a snapshot of the DSCR page dated May 20, 2026, which we saved and read. It gives the product name and a list of criteria, but the list is written for DSCR loans in general.

We cannot say what rate sheet, minimum score or prepayment structure CrossCountry applies today. The 2025 HMDA loans are consistent with the page (median loan-to-value 75.0% and a 90th percentile of 80.0%), but that is consistency, not confirmation. Ask a loan officer for the current matrix in writing, with its date. For a cross-lender comparison of published terms see DSCR loan requirements and non-QM loans.

Complaints

On October 30, 2026 we searched the CFPB Consumer Complaint Database (latest complaint in the database received October 30, 2026) with the company filter set to “CrossCountry Mortgage LLC”, all products, all states. The search returned 800 complaints received since January 1, 2025 (298 in 2025 and 502 in 2026 through October 30) and 1,737 since the database began. The latest CrossCountry complaint was received October 14, 2026.

Controls with the same filter and dates: Rocket Mortgage 4,677, PennyMac Loan Services 2,266, Guaranteed Rate 172, Kiavi 17 and Lima One Capital 7. Raw counts follow lenders' size and servicing books, so they are not a quality score.

Read this carefully. The database covers consumer financial products, and business-purpose loans fall outside the consumer rules, which is how HMDA flags all of CrossCountry's investor loans. The database has no field for occupancy or loan purpose, so we cannot say how many of the 800 complaints concern an investor loan, and its narrative text is not searchable in a way we could rely on. These are allegations by consumers, which the CFPB publishes without verifying them. The 371 plus 107 complaints about payments and hardship (59.8% of 800, our arithmetic) point to its servicing business, and 175 (21.9%) are about applying or closing. We did not read state regulators' enforcement records, and we make no statement about them; check your state regulator and NMLS Consumer Access before you commit.

The Two Harbors deal: what the filings say

CrossCountry is also in the news as the buyer of a listed company. The 8-K that Two Harbors Investment Corp. filed on August 25, 2026 (accession 0001104659-26-100622) says it completed its merger on that date with CrossCountry Merger Corp., “a wholly owned subsidiary of CrossCountry Intermediate Holdco, LLC (“CCM”)”, under an agreement dated March 27, 2026 and amended on April 28 and May 7, 2026, and that each common share was converted into the right to receive “$12.00 per share” in cash. In a related filing the buyer describes itself as “an affiliate of CrossCountry Mortgage, LLC”. Two Harbors filed a Form 15 on October 8, 2026 listing 1 holder of record of its common stock.

Nothing in those filings concerns investor loans, DSCR or the lender's credit box, so the deal tells a borrower nothing about the product. Our full account of the sale, the price path and what holders received is What Happened to Two Harbors?.

Cost in dollars: our arithmetic

On a 30-year, fully amortizing loan of $265,000 (CrossCountry's median investor loan), the payment is $1,807.77 a month at its DSCR-type median of 7.25%, $1,830.29 at the other lenders' 7.375% and $1,785.35 at the 7.125% median of its income-documented loans. The first gap is $22.52 a month and the second $22.41 (all our arithmetic, before points, fees and prepayment terms, none of which HMDA reports for these loans). A quote within an eighth of a point of the median is normal; a quote a half point above it on a strong file is worth questioning.

What HMDA does not show

• No pricing beyond the note rate. Points, origination charges, lender credits and total loan costs are blank on all 10,082 loans, and so is the prepayment-penalty term.
• No DSCR, credit score or reserves. There is no debt-service-ratio field in HMDA; “DSCR-type” is our label, built from the term, the loan type and the missing debt-to-income ratio.
• No individual terms. HMDA names no purchaser, no loan officer and no property.
• No 2026 loans. The 2025 file is the newest complete year; 2026 loans appear in 2027. Our national counts differ by a few dozen loans from other pages of ours because the FFIEC file is revised after it is first published.

What a reader can do with this

• Treat CrossCountry as a direct lender. Ask for a loan officer by name, a written program matrix with a date, and the prepayment structure before you pay for an appraisal.
• Test the quote. On a DSCR-type loan of $150,000 to $999,999 the 2025 median at CrossCountry and at other lenders was 7.25%; on a loan under $150,000 expect to be quoted above the market.
• Price the same file at a second lender the same day. Compare note rate, points, prepayment fee and rate lock side by side. Our guide is this DSCR lender legit? lists what to check, and investment property mortgage rates gives the market level.
• Check the licence and the state record at NMLS Consumer Access and your state regulator, which this page did not do.
• Choose by place. CrossCountry is a top-6 DSCR lender in Florida, New Jersey and Arizona and outside the top 10 in Texas, California and Georgia; look at the lenders with the most loans in your state.
• Get a direct quote from a lender that specializes in rentals. See Kiavi, Visio Lending and Lima One.

FAQ

Sources, read October 30, 2026: FFIEC HMDA 2025 loan-level files from the FFIEC data browser (CrossCountry Mortgage, LLC, LEI 549300VZVN841I2ILS84, all states and all actions; and all lenders' originated and denied investment-property records, 54 jurisdictions, tabulated by us in sources/tabulation_output.txt with the scripts in sources/scripts), the FFIEC 2025 filer list and LAR data-field definitions; the CFPB Consumer Complaint Database search API; the Internet Archive copy of crosscountrymortgage.com/mortgage/loans/non-qm/dscr-loans/ dated May 20, 2026; the GLEIF record for LEI 549300VZVN841I2ILS84; SEC EDGAR: Two Harbors Investment Corp. Form 8-K (accession 0001104659-26-100622) and Form 15-12G (0001104659-26-114620), and CrossCountry Intermediate Holdco, LLC Schedule 14A additional materials (0001140361-26-023115). Our national DSCR-type count (154,321) treats Emporium TPO LLC's term-30 and term-40 loans as 30- and 40-year loans, as our other lender pages do; the FFIEC file is revised after first publication, so counts differ by a few dozen loans from earlier pages. Sums, shares, differences and payment figures are our arithmetic. This is analysis of public documents, not investment, legal or tax advice.