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Private capital interest in mortgages growing? Angel Oak closes its largest securitization

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.

Apparently Angel Oak’s investors aren’t the only ones interested in non-QM loans.

Angel Oak announced this week that it closed its largest securitization to date, a $328.78 million offering comprised largely of non-QM mortgages.

The securitization, AOMT 2018-1, is backed by loans originated by Angel Oak’s three affiliated lenders: Angel Oak Mortgage SolutionsAngel Oak Home Loans, and Angel Oak Prime Bridge.

According to Angel Oak, the deal is comprised of 905 loans that carry an average loan amount of $363,287. Approximately 81% of the underlying loans are non-QM loans, while the rest of the loans are qualified mortgages and mortgages for non-owner occupied properties and foreign nationals not residing in the United States

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