Angel Oak Companies Continues To Set The Standard In Non-QM Market
Angel Oak Companies set a record for non-qualified mortgage (non-QM) lending in Q2 2018 as the affiliated lenders, Angel Oak Mortgage Solutions, LLC, Angel Oak Home Loans LLC and Angel Oak Prime Bridge, LLC, combined for over $512 million in non-QM originations. That figure represents a 52% increase in volume from Q1 2018 (the previous record for originations in a single quarter) and a 90% increase over Q2 2017. When this total is broken out by unit, each affiliate produced its own record origination numbers this quarter. In addition to record-setting volume, the company also grew its staff by 25%, opened new offices and completed a major acquisition.
“Our growth over the past few quarters has been incredible, but Q2 stands out as a true milestone for our company and the industry,” says Mike Fierman, co-CEO of Angel Oak Companies. “It’s not just industry insiders who recognize the growth of non-QM anymore. Loan officers, borrowers and Realtors across the country are seeking out Angel Oak because they know we offer the best non-QM products and service in the industry.”
In addition to record lending volume, Angel Oak Capital Advisors, LLC, the investment management affiliate of Angel Oak Companies, ended the quarter with approximately $9.1 billion in assets under management (AUM). It also completed the largest non-QM securitization in company history – a $402 million securitization almost entirely comprised of non-QM residential mortgages sourced through affiliated mortgage lenders, Angel Oak Mortgage Solutions, Angel Oak Home Loans and Angel Oak Prime Bridge. Since 2015, Angel Oak Capital Advisors has successfully completed seven non-QM securitizations, accounting for approximately $1.6 billion in total securitized residential loans largely backed by mortgages originated through its affiliated mortgage lenders.