Mortgage rates topped 5% for the first time since 2011 last week, and traditional lenders are feeling the pinch. Non-QM, however, is experiencing a renaissance – and Angel Oak Mortgage Solutions is helping to lead that charge.
Angel Oak Companies set a record for non-qualified mortgage (non-QM) lending in Q3 2018 as affiliated lenders Angel Oak Mortgage Solutions LLC, Angel Oak Home Loans LLC, and Angel Oak Prime Bridge LLC combined for over $664 million in non-QM originations.
Angel Oak Mortgage Solutions has announced the addition of seven new Account Executives, including Kendra Cutuli in Los Angeles, John Jernigan in North Carolina, Armando Aviles and Diane Hardgrove in Dallas, Otto Oliva in Inside Sales with John Macedo covering Monterrey Bay to the South Bay and Vee Elmazaj covering the South Bay in California.
Angel Oak closed $512 million in volume last quarter. That figure represents a 52% increase in volume over Q1 2018 (the previous record quarter) and a 90% increase in volume over Q2 2017.
The recent success has earned notable accolades for Angel Oak Companies and its employees. National Mortgage Professional Magazine named Angel Oak Companies a “Legend of Lending” and presented wholesale executive Steve Arnold a 2018 Account Executive MVP Award. Alysse Prosnick, VP of Operations, and Lauren Hedvat, Managing Director of Capital Markets, were recognized as Elite Women 2018 by Mortgage Professional America.
Angel Oak Companies has set a record for non-QM lending in the second quarter of 2018, as the affiliated lenders, Angel Oak Mortgage Solutions, Angel Oak Home Loans, and Angel Oak Prime Bridge, combined for more than $512 million in non-QM originations.
Angel Oak Mortgage Solutions has bolstered its roster of employees as the firm responds to increasing demand. In the past few months, Angel Oak Mortgage Solutions promoted five current employees, added six new Account Executives and outgrew its recently opened operations center in Dallas.
Angel Oak announced today is has completed AOMT 2018-2, a $402 million securitization almost entirely comprised of non-QM residential mortgages. The securitization is backed by mortgages that were primarily sourced through the firm’s three affiliated mortgage lenders.
Angel Oak Mortgage Solutions continues its strong start to 2018 with the addition of four new Account Executives, adding Craig Murphy in San Antonio, Texas; Alina Derzhay in Ft. Lauderdale, FL: Jeremiah Carlson in Salt Lake City, and Denise Maccone in Northern New Jersey.
With non-prime making a roaring comeback in the last couple of years, now is the time for originators to add it to their toolbox. But not all non-prime lenders are created equal, according to Tom Hutchens, senior vice president of sales and marketing for Angel Oak Mortgage Solutions.
Angel Oak Mortgage Solutions continues its strong start to 2018 with the addition of seven new Account Executives, including Mary Moehring in Sacramento, CA; Reginald Ross in Dallas; Peter Ronga in New Jersey; Mike Dattorre in Connecticut; Rudy Pineda in inside sales; and both Laurie Cullen and Mel King in Missouri.
Earlier this year, Angel Oak Capital Advisors, an investment management firm that specializes in mortgage credit, raised $291 million to invest in mortgages that don’t fit inside the Qualified Mortgage box. This securitization, AOMT 2018-1, is backed by loans originated by Angel Oak’s three affiliated lenders: Angel Oak Mortgage Solutions, Angel Oak Home Loans, and Angel Oak Prime Bridge.
Angel Oak Capital Advisors, LLC (Angel Oak) announced today it has completed AOMT 2018-1, a $328.78 million securitization comprised largely of non-QM residential mortgages.
Angel Oak Mortgage Solutions has announced the addition of four new Account Executives to help brokers grow their business, including: Alonzo Johnson in Los Angeles; Tom Self in Seattle; Jared Warlick in Fort Myers, Fla.; and Oscar Ungo on the inside sales team.
On Wednesday, the Federal Reserve increased interest rates again, a move that was bad news for the mortgage industry – but there are still some bright spots. For the non-qualified mortgage sector, business is strong, and it’s predicted to continue reaching record-breaking heights well into the future.
The word is out: non-qualified mortgages are taking off, signaling a new era for the industry. Proof is in the numbers, Angel Oak Companies, one of the biggest players in non-QM, hit a record of $1.1 billion in volume during 2017 and expects to double it’s business in 2018.
ATLANTA–(BUSINESS WIRE)–Angel Oak Mortgage Solutions (Angel Oak) is pleased to announce the opening of its new operations center in Las Colinas, Texas, located in the Dallas-Fort Worth Metroplex. The new facility will replicate the functions of Angel Oak’s headquarters in Atlanta GA.
ATLANTA–(BUSINESS WIRE)–Angel Oak Capital Advisors, LLC (“Angel Oak”) announced today that it has completed AOMT 2018-PB1, a $90 million securitization backed by loans originated by Angel Oak Prime Bridge (“Prime Bridge”), the firm’s affiliated direct investment property lender. This is Angel Oak’s sixth mortgage securitization since 2015, bringing the total to more than $900 million.
Mike Fierman, Angel Oak Companies managing partner and co-CEO, said the numbers reflect a new era for non-QM, a market that is projected to hit $100 billion in the coming years.
Angel Oak Mortgage Solutions has announced the addition of six more Account Executives to help brokers grow their business. Adding additional coverage across the country, Dee Buckley has joined Angel Oak in Atlanta; Dino Biorac, Eric Olson and Gigi Bronstrup in the Los Angeles area; Christina Ciceric in San Diego; and Andrea Johnson in Memphis.
Angel Oak Companies originated $1.1 billion in mortgages during 2017 that don’t meet the Qualified Mortgage rule — an all-time record for the 10-year-old company. Last year’s business was up 40 percent from 2016.
ATLANTA–(BUSINESS WIRE)–Angel Oak Companies proudly announces a record-breaking year for its three affiliated lending units, Angel Oak Mortgage Solutions, Angel Oak Home Loans and Angel Oak Prime Bridge. In addition to growing staff and expanding geographically, the lending units surpassed $1.1 billion in non-qualified mortgage originations in 2017 – the highest volume in the companies’ history. Angel Oak now sets its sights on meeting growing demand in 2018.
Tom Hutchens, our own SVP of Sales and Marketing, was selected from a pool of hundreds of nominees of mortgage industry professionals.
ATLANTA–(BUSINESS WIRE)–Angel Oak Capital Advisors, LLC (“Angel Oak”), an investment management firm specializing in mortgage credit, has raised $291 million in capital commitments for its first private credit fund. Having exceeded the initial fundraising goal of $250 million, the Angel Oak Real Estate Investment Fund I, LP (“the Fund”), is now closed to new investors.
Annie Jensen’s passion for her work as an account executive for Angel Oak Mortgage Solutions and her dedication to her clients is in every transaction she handles.
Barron’s profiles Angel Oak co-founder Sreeni Prabhu on the state of the mortgage market
ATLANTA, GA (November 29, 2017) Angel Oak Capital Advisors, LLC (Angel Oak) announced today that it has completed AOMT 2017-3, a $210.18 million securitization, primarily backed by non-qualified mortgages (non-QM) fully sourced through the firm’s three affiliated mortgage lenders – Angel Oak Mortgage Solutions, LLC, Angel Oak Home Loans, LLC and Angel Oak Prime Bridge, LLC.
Building towards a strong finish to 2017, Angel Oak Mortgage Solutions has announced the addition of nine Account Executives to help originators grow their business across the country.
ATLANTA–(BUSINESS WIRE)–The lending platform of Angel Oak Companies (“Angel Oak”), comprised of Angel Oak Mortgage Solutions, Angel Oak Home Loans, and Angel Oak Prime Bridge, is collectively set to surpass $1 billion in non-qualified mortgage originations (non-QM) by the end of this year as they break through in new markets, hire new employees and add cutting-edge portfolio products.
ATLANTA–(BUSINESS WIRE)–Angel Oak Capital Advisors, LLC (Angel Oak) announced it has surpassed $7 billion in assets under management across its platform. Since the firm’s inception in 2008 amid the housing crisis, Angel Oak continues to establish itself as a market leader in mortgage credit through several recent milestones:
Fresh off its second rated securitization in 2017 of non-QM loans by Angel Oak Capital, Angel Oak Mortgage Solutions has announced the addition of five Account Executives to help originators grow their business across the country.
Angel Oak Capital Advisors announced a more than $210 million deal on rated securitization of nonprime residential mortgages. The deal is Angel Oak’s second this year and largest ever. The number of nonprime mortgage-backed securities totaled $1.08 billion in the second quarter of this year, according to Inside Mortgage Finance.
Business Wire — Angel Oak Capital Advisors Announces Second Rated Securitization of Non-Prime Residential Mortgages
Angel Oak issues $210.45 million transaction, largest since inception of the platform.
Brokers willing to learn the lost art of making risky mortgages are in demand again. (Subscription required)
EY announces Sreeni Prabhu of Angel Oak Capital Advisors is an Entrepreneur Of The Year® 2017 Award finalist in the Southeast
EY announced that Sreeni Prabhu, managing partner, co-CEO and chief investment officer of Angel Oak Capital Advisors, LLC, an affiliated company of Angel Oak Companies, is a finalist for the Entrepreneur Of The Year® 2017 Award in the Southeast.
Following a first quarter in which Angel Oak Mortgage Solutions added 12 new account executives, the company is continuing its aggressive growth by becoming licensed in Rhode Island, launching a Correspondent Channel and adding five new AEs to help brokers grow their business.
Angel Oak Mortgage Solutions Sets Sights High with the Addition of a New Director of Correspondent Lending
Angel Oak Mortgage Solutions, the leader in the Non-agency space, announces its strategic expansion into the correspondent lending market with the hiring of Sean M. Marr as the Director of Correspondent Lending.
Angel Oak Companies continues to display leadership when it comes to growth and corporate culture, according to The Atlanta Journal-Constitution, which named Angel Oak a 2017 Top Workplace, and The Atlanta Business Chronicle, which named Angel Oak a 2017 Pacesetter. These awards represent the third-straight year the firm has been ranked among the best and fastest growing companies in the region.
Angel Oak Capital Advisors LLC
CNBC: Private-label mortgage bonds are rising from the grave
Investment News: Angel Oak’s Brad Friedlander: The biggest dilemma today’s mortgage industry faces
Watch Brad Friedlander with Angel Oak Capital Advisors discuss the differences between pre-crisis and post-crisis borrowing requirements, and how today’s new non-prime loans are different than the loans made in 2008.
Angel Oak Announces Eight New Additions
To help support Angel Oak’s extraordinary growth, their management company, Angel Oak Companies, recently added four new executives to its leadership team while Angel Oak Mortage Solutions added 4 new Account Executives. Click here to read more.
Angel Oak Approved in Two New States, Closes Record Year With Eight New Hires
Angel Oak Mortgage Solutions closed 2016 with a record month and is now licensed in over 35 states nationwide with the additions of Arkansas and New Mexico. Click here to read more.
Angel Oak’s Non-QM Lending Platforms Reviewed by Two Ratings Agencies
Angel Oak Mortgage Solutions and Angel Oak Home Loans LLC have announced that their mortgage origination platforms have been reviewed for quality by ratings agencies Fitch and DBRS. Click here to read more.
Business Wire: Angel Oak’s Non-Qualified Mortgage Lending Platforms Reviewed by Two Leading Ratings Agencies
Angel Oak becomes one of the first non-prime mortgage originators to be reviewed by a third party ratings agency. Click here to read more.
Inside Mortgage Finance Publications – Non-QM Lenders See Plenty of Room…
Originations of non-qualified mortgages could reach $100.0 billion a year. Click here to read more.
Firms resurrect non-agency RMBS market: Managers starting small; demand outpacing supply
Angel Oak is highlighted for its pioneering of non-agency residential mortgage backed securities. Click here to read more.
Business Wire: Angel Oak Capital Announces Securitization of Non-Agency Mortgages
Angel Oak Announces a $132.65 Million Securitization of Non-Agency Residential Mortgages. Click here to read more.
National Mortgage Professional: How to Survive the Impending Refinance Cliff
Tom Hutchens, Senior Vice President, Sales and Marketing of Angel Oak Mortgage Solutions talks about the refinancing boom. Click here to read more.
National Mortgage Professional: Visionary Organizations 2016
Dedicated specifically to providing alternative lending solutions, Angel Oak has established themselves as the market leader in the non-prime space. Click here to read more.
National Mortgage Professional: Sub-Prime: Establishing a New Track Record
Sub-prime, or “non-prime,” mortgage lending returned to the market almost three years ago and with it, many critics who understandably voiced concerns that history would repeat itself. Click here to read more.
Mortgage News Network: Interview with Tom Hutchens at NAMB East
Tom Hutchens, Senior Vice President, Sales and Marketing of Angel Oak Mortgage Solutions is interviewed by Andrew Berman at 2016 NAMB East. Click here to watch the video.
Mortgage Professional America: Nonprime mortgage set for a comeback
Mortgage lenders who participated in the National Association of Realtors’ mortgage originator survey reported that non-QM mortgages were making a modest comeback in the fourth quarter. Click here to read more.
National Mortgage News: Why Supply Remains a Hurdle for Subprime Securitizations
As a handful of new issuers enter the market and the implementation of a key regulation pave the way for subprime securitization’s comeback, the volume of new loans that are actually available to the market remains a question. Click here to read more. (Having trouble viewing the article? Read a PDF version here.)
National Mortgage News: Subprime Securitization Is Back, But It’s Not What It Was
For the first time since the financial crisis, the mortgage industry is securitizing newly minted loans to lower credit borrowers. Click here to read more.
National Mortgage Professional: Sub-Prime Sees a Surge in Volume
Sub-prime loans came back to the market about three years ago, and today, we are starting to see a surge in mortgages that fall outside of the restrictive qualified mortgage (QM) guidelines. Click here to read more.
The Wall Street Journal: One Way to Make Mortgages Easier to Get
Government, investors and lenders team up to revive market for mortgage bonds issued by private firms, including bonds backed by subprime borrowers. Click here to read more.
Mortgage Professional America: Non-agency loans can be a boon for self-employed borrowers
Self-employed borrowers can face a bit of a quandary when they’re searching for a mortgage. Click here to read more.
National Mortgage Professional: Mortgage Liquidity Just Got a Little Looser
In order to remain competitive in this unpredictable environment, mortgage originators should think outside the box—the credit box, that is—and diversify their product offering in order to continue building steady business. Click here to read more.
Mortgage Professional America: Subprime loans can be a valuable tool for brokers
The big message is that today’s subprime looks nothing like the subprime of old. Once people understand the differences, they realize that the new subprime is smart and responsible. Click here to read more.
SNL Financial: Walk-away foreclosures no problem for this mortgage lender
Non-QM loans have been available for prime borrowers, but borrowers with troubled credit have struggled to find credit. Angel Oak Mortgage Solutions in the 2014 first quarter unveiled a product targeting those subprime borrowers. Click here to read more.
Mortgage News Network: Is “Subprime” Still a Dirty Word?
Understand the three main differences in the subprime mortgages of the past versus the subprime mortgages of today. Documented ability-to-repay (ATR), Appraiser Independence Regulation (AIR), and skin in the game are all factors that make today’s subprime loans safe and responsible lending options. Click here to watch the video.
Mortgage News Network: The Largest Non-Prime Securitization Since the Crash
Tom Hutchens discusses the industry’s largest securitization of non-prime loans since the financial crisis. See Tom’s vision of how this securitization directly affects the entire mortgage market. Click here to watch the video.
Inside Mortgage Finance: The Beginning of a Nonprime MBS Revival?
Greenleaf Income Trust this week priced a $135 million non-agency, nonprime MBS, the largest such offering since the housing bust. Click here to read more.
Business Wire: Angel Oak Announces $150 Million Securitization of Non-Prime Mortgages
Angel Oak Capital Advisors, LLC announced today the completion of its first securitization of non-prime whole loans. The loans, which total $150.4 million in aggregate, were originated by two of Angel Oak Capital’s affiliate companies – Angel Oak Mortgage Solutions and Angel Oak Home Loans. Click here to read more.
Inside Mortgage Finance: Angel Oak Stresses Viability of Nonprime Lending
Originating nonprime mortgages can be done without repeating the mistakes that contributed to the financial crisis, according to the officials at Angel Oak Mortgage Solutions. Click here to read more.
Mortgage News Network: Non-Prime Lending: What to Expect in the Coming Year
Tom Hutchens with Angel Oak Mortgage Solutions discusses the non-prime lending space with Andrew Berman of Mortgage News Network. Click here to watch the video.
National Mortgage News: A Mortgage Lender’s ‘New’ Subprime Pitch … Get Ready for More
National Mortgage News highlights how Angel Oak’s new, safer subprime programs are a game changer. Click here to read more.
National Real Estate Post: Working the Sub-Prime Niche
Working the sub-prime niche can be a lucrative little secret. Today we give you an idea on how to do it. Click here to watch the video.
National Real Estate Post Webinar: Subprime Mortgage: The New Normal
Eric Morgenson and Frank Garay discuss Angel Oak Mortgage Solutions’ alternative lending solutions. Click here to watch the webinar.
National Mortgage Professional: Diversify Your Product Line With Non-Agency Mortgages
Lenders that rely heavily on refinancing need to come up with a way to bolster their new mortgage pipeline in order to replace lost volume. Click here to read more.
Mortgage News Network: Interview with Tom Hutchens
Tom Hutchens, Senior VP, Sales & Marketing of Angel Oak Mortgage Solutions is interviewed by Andrew Berman at MBA Annual 2015. Click here to watch the video.
Mortgage Professional America: Biggest TRID challenge coming
Brokers are reporting TRID implementation has been relatively painless, especially considering the uncertainty of how it would impact the originations process. Click here to read more.
National Mortgage Professional: Diversify Your Product Line with Non-Agency Mortgages
Lenders that rely heavily on refinancing need to come up with a way to bolster their new mortgage pipeline in order to replace lost volume. Click here to read more.
National Real Estate Post: The Acceptance of Responsible Subprime
True subprime loans were never the pre-meltdown issue. It was all the hybrids. There needs to be a new acceptance of true subprime loans. Click here to watch the video.
White Paper: Addressing Mortgage Credit Illiquidity with Alternative Products
As more lenders adopt and issue alternative, non-government backed mortgage products, homebuyers that fall outside the typical credit box will return to the market and provide much needed stimulus in the face of rising rates. Click here to read more.
National Mortgage Professional: From Wholesaler to Consumer, It’s All About Education
When first-time homebuyers begin exploring their options, they often realize they actually know very little about getting a mortgage. Click here to read more.
National Mortgage Professional: Why Non-Prime Loans Are Safer Than You Think
Skeptics are starting to come around and realize that things truly are different this time, as non-QM products are proving to be much less risky than their predecessors. Click here to read more.
National Mortgage Professional: Opportunity Lies Ahead in Non-Agency Lending
Non-agency lending—specifically sub-prime (or non-QM) lending—is arguably more relevant now than before the recession. Here are the key drivers of growth in the non-agency arena going forward. Click here to read more.
Capital Markets Today Talk Radio: Alternative Mortgage Lending
Although some investors are still holding tight to credit standards, mortgage credit availability loosened last month, according to a recent Mortgage Bankers Association report. Click here to listen now.
MarketWatch: Millennials in Texas and in California reject home ownership for vastly different reasons
The difficulty in getting millennials to take the plunge in the entry-level market will also have consequences down the road, says Tom Hutchens senior vice president of sales and marketing of Angel Oak Mortgage Solutions in Atlanta. Click here to read more.
National Mortgage Professional Magazine: Does Sub-Prime Equal Non-Prime?
When comparing the product called sub-prime that was rampart prior to the financial crisis to the recently issued, non-prime or non-qualified mortgage (non-QM) of today, the difference is stark. Click here to read more.
Atlanta Association for Corporate Growth: 2015 Georgia Fast 40
We are honored to announce that Angel Oak Companies has been named by the Atlanta Association for Corporate Growth as one of the 2015 Georgia Fast 40 – an award presented to the fastest-growing middle market companies in the state. Click here to read more.
Atlanta Business Chronicle: Atlanta’s Fastest Growing Private Companies
We are proud to announce that Angel Oak Companies has been named one of Atlanta’s Fastest Growing Private Companies in 2015 by the Atlanta Business Chronicle. Click here to read more.
The New York Times: Revisiting ‘Subprime’ Mortgages
“Subprime” has been a dirty word since the freewheeling mortgage lending spree that ultimately brought down the economy and propelled millions of homeowners into foreclosure. Click here to read more.
National Mortgage News: A Deal to Reinvent the Subprime Mortgage-Backed Security
One might assume that Wall Street developed, at some point in the seven years following the housing collapse, distaste for new subprime mortgage-backed securities. Think again. Click here to read more.
Atlanta Journal Constitution: Top 75 Small Workplaces (149 Or Fewer Employees) In The Region
We’re pleased to announce that Angel Oak Companies was named a Top Workplace by the Atlanta Journal Constitution. Click here to read more.
Rob Chrisman: Sales & Ops jobs; changes in Fannie & Freddie pricing & programs; how much does 3.75 million sq. feet of office cost?
Angel Oak Mortgage Solutions, specializes in non-agency lending, with a focus on non-prime loans, announced that its non-agency mortgage products are now available to third party lenders through a mini-correspondent channel. Click here to read more.
Mortgage Professional America: Subprime lending is back, but don’t call it that
A tight credit market and shrinking origination volume has opened the flood gates for more wholesale lenders providing brokers with the option to originate subprime mortgages in 2015. Click here to read more.
Global Capital: Angel Oak Mortgage Solutions is launching an online platform to underwrite non-QM loans
The mortgage aggregator’s mini-correspondent channel will allow lenders to originate non-QM loans to sell to Angel Oak. Originators of the loans will be free from any risks related to representations and warranties of performance, as Angel Oak will act as underwriter of the loans. Click here to read more.
Business Wire: Angel Oak Mortgage Solutions Launches Mini-Correspondent Platform
Angel Oak Mortgage Solutions announced today that its non-agency mortgage products are now available to third party lenders through a mini-correspondent channel. Click here to read more.
National Mortgage News: Disciplined Underwriting Guides Lender’s Non-QM Strategy
Many lenders and investors have been steering clear of loans outside of the qualified mortgage credit box due to an inability to get their arms around these loans’ higher compliance risks. But that’s changing for some players. Click here to read more.
Asset-Backed Alert: Angel Oak Maps Subprime Program
Angel Oak Mortgage Solutions’ mortgage-securitization plans are coming into focus…Angel Oak now is known to be developing an aggressive subprime-mortgage program aimed at borrowers with scores as low as 500. Click here to read more.
Scotsman Guide: Lenders report ‘out of control’ investor interest in new subprime products
Although a number of people still cringe at the term subprime, some subprime lenders are reporting strong investor appetite for the once-reviled mortgage products. Click here to read more.
Rob Chrisman: Letters on MSAs, expanded criteria loans, 97% LTV loans, and trends in regulation
The residential mortgage industry is filled with some heavy-duty issues, and the commentary definitely has some heavy duty letters this week – not all of them filled with rainbows and unicorns. Click here to read more.
Press Release: MPA 5-Star Lender Rating
Angel Oak, a wholesale mortgage lender based in Atlanta, has earned Mortgage Professional America Magazine’s prestigious 5-Star Lender rating for its product mix and pricing and its training and education. Click here to read more.
Mortgage Professional America: Appetites grow for non-traditional loans
Competitive pressures and the housing market’s slow recovery have opened the gate to a new path for wholesale lenders – providing brokers with the option to originate non-traditional loans. Click here to read more.