Following a blockbuster 2017, Angel Oak on
target for $2.5 billion in non-QM originations
After an incredible 2017, Angel Oak Companies kicked off 2018
with record growth, revamped products and new hires for its three
affiliated lending units, Angel Oak Mortgage Solutions, Angel Oak
Home Loans and Angel Oak Prime Bridge. Angel Oak’s successful start
to the first quarter of 2018 includes a record of $340 million in
non-qualified mortgage (non-QM) originations, a 62% increase over
Q1 2017, in addition to the hiring of 59 new employees to its
lending platform. Angel Oak now has its sights set on more than
doubling its year-over-year non-QM volume, from $1.1 billion in
2017 to $2.5 billion in 2018.
“We’re setting the standard when it comes to non-QM lending,”
says Steven Schwalb, Managing Partner of the Angel Oak lending
platform. “Across the mortgage industry, more and more participants
are realizing just how fast this segment is growing. We are the
leaders because we have been offering innovative, high-quality
non-QM products for years. Our success today is a direct result of
the expertise we’ve built.”
In addition to record origination numbers, Angel Oak Capital
Advisors completed two unique mortgage securitizations this year.
The first of its kind, AOMT 2018-PB1 was a $90 million
securitization backed by “fix-and-flip” loans originated by Angel
Oak Prime Bridge, which featured an 18-month revolving period in
which paid collateral is replaced with new collateral. The second
securitization, AOMT 2018-1, totaled $328.78 million and was Angel
Oak Capital Advisors’ seventh and largest mortgage securitization
to date. These two securitizations highlight Angel Oak Capital
Advisors’ experience and leadership in a demand-fueled
marketplace.
In the wholesale channel, Angel Oak Mortgage Solutions, which
has paved the path in the revival of quality non-prime products,
recorded its best origination numbers in Q1. Part of this success
came from expansion of the correspondent channel and its product
innovations, including the Platinum Program, a go-to solution for
brokers looking to add unique tools to their arsenal. Angel Oak
Mortgage Solutions also added a new Dallas operations center,
positioning the firm for continued growth as it leads the charge in
new markets with an even larger team.
“We’re carving out a clear leadership position in the non-QM
space by hiring top-tier people and bringing the best products to
market. Over the last year, we’ve seen non-QM lending become more
widely accepted than any other time in the post-crisis period,”
says Schwalb. “As more players enter the space, many will attempt
to emulate our success. However, our expertise, our commitment to
quality and our unique structure sets Angel Oak apart from the
competition.”
About Angel Oak Companies,
LLC
Angel Oak Companies is an industry leader in delivering
innovative mortgage credit solutions. Through its integrated credit
and investment platform, Angel Oak Companies delivers solutions
across asset management, lending and capital markets.
For more information, please visit:
www.angeloakcompanies.com
About Angel Oak Mortgage Solutions, LLC
Angel Oak Mortgage Solutions, a leader in alternative lending
solutions, is the top wholesale and correspondent provider of
non-qualified mortgage loans. Angel Oak’s team of mortgage experts
continues to pioneer a fresh, common sense approach to overcoming
today’s mortgage lending challenges. Operating in 38 states, their
breadth of Non-Agency products expands the pool of borrowers by
offering partners more opportunities to grow their business and
better serve their customers.
For more information, please visit www.angeloakms.com
About Angel Oak Home Loans LLC
Angel Oak Home Loans is a full service mortgage lender. In
addition to offering traditional mortgage products, Angel Oak Home
Loans and the Angel Oak family of companies specializes in
innovative alternative lending options. Its flexible, supportive
approach empowers prospective homebuyers to embark on a new path
with confidence. Angel Oak’s experienced team of licensed mortgage
advisors is leading the way by delivering start-to-finish mortgage
support and an exceptional client experience.
For more information, please visit:
www.angeloakhomeloans.com
About Angel Oak Prime Bridge, LLC
Angel Oak Prime Bridge, LLC is a commercial residential lender
providing financing solutions for today’s real estate investor. The
company was created in 2011 by individuals with extensive lending
experience in the residential and commercial lending space. Their
lending philosophy is founded upon a tenet of providing innovative
portfolio loan programs, while consistently delivering an
exceptional client experience, for both borrowers and referral
partners.
For more information, please visit:
www.angeloakprimebridge.com
About Angel Oak Capital Advisors, LLC
Angel Oak Capital Advisors is an investment management firm
focused on providing compelling fixed income investment solutions
for its clients. Backed by a value-driven approach, Angel Oak
Capital Advisors seeks to deliver attractive risk-adjusted returns
through a combination of stable current income and price
appreciation. Its experienced investment team seeks the best
opportunities in fixed income with a specialization in
mortgage-backed securities and other areas of structured and
corporate credit.
As of March 31, 2018, Angel Oak Capital Advisors had
approximately $8.7 billion in assets under management across its
mutual funds, private funds and separately managed accounts.
For more information, please visit www.angeloakcapital.com
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version on businesswire.com: https://www.businesswire.com/news/home/20180425005995/en/
Gregory FCA for Angel Oak CompaniesAlex Nye,
610-228-2287alexn@gregoryfca.com