Angel Oak Posts Record Quarter
October 9th 2019
As the market for non-QM loan products expands, Angel Oak Mortgage Solutions continues to set records.
“We just finished Q3 funding $891 million, so we’re rapidly approaching a billion-dollar quarter,” said Tom Hutchens, executive vice president of production for Angel Oak. “That was a 41% increase over the third quarter of last year.”
Hutchens said the number also reflected a 31% quarter-over-quarter jump.
“All signs point to a great deal of growth,” he said. “We’ve ramped up our staffing – a year and a half ago, we opened up a second operations center in Dallas, and we’ve doubled the footprint in size at that office. We continue to create tools that help originators be more efficient in originating non-QM loans. We’re also using technology to help us process those loans more efficiently.”
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