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The Solution: Correspondent Non-Prime Mortgage Lending

The residential mortgage lending business is changing for correspondent lenders, and those unable to keep up with the demands are falling to the wayside. For mortgage correspondent lenders and home buying borrowers alike, shifts in the mortgage lending industry and a booming housing market are leading to the perception that things have irreversibly changed, and competition is fiercer than ever. What could a solution to building out your business be? Exploring correspondent non-prime mortgage lending solutions.

Sub-prime mortgages have created a space for potential home buyers to reliably close a home purchase deal when institutional lenders waver on the feasibility of a borrower, and correspondent lenders operating this this space are benefiting in multiple ways. First, by providing a space for retail clientele who are otherwise unaware of the possibilities in non-prime mortgage lending but would typically fall into the borderline for institutional mortgage lending, correspondent non-prime mortgage lending products provide hope to a large demographic of neglected but otherwise quality borrowers. Furthermore, for the top correspondent mortgage lenders operating in the alternative lending space, correspondent non-prime lending solutions provides a stark way to grow your business.  Taking advantage of the non-prime correspondent programs can only be a benefit to the top correspondent lenders.

A Top Leader in Alternative Mortgage Lending Solutions

Angel Oak Mortgage Solutions, the leader in correspondent alternative lending programs, revitalized the once popular sub-prime mortgage lending space by introducing new credit formulations and addressing a void in the correspondent mortgage lending space. This foresight, which allowed Angel Oak Mortgage Solutions to position itself as the top wholesale alternative mortgage lender in the industry, pinpointed the need by the large demand for non-QM mortgage lending products for actual wholesale solutions. Demand exceeded supply in the alternative mortgage lending space, and institutional lenders preferred to focus on agency mortgage loans for their lending solutions.

Non-prime mortgage bond issuance rose 100% in the first quarter of 2018 compared to a year ago, going from $666 million to $1.3 billion, according to Financial Times. Correspondent mortgage lenders thus have a renewed place of opportunity, and many wholesale alternative mortgage brokers are returning to the housing market. Additionally, today’s borrowers are far more educated regarding the mortgage lending process, and alternative mortgage lenders have found better ways to address the credit needs and requirements for the housing market today.

Angel Oak Mortgage Solutions offers a breadth of alternative lending products to allow our clients to grow their business and better serve their customers. Correspondent mortgage lending programs at Angel Oak Mortgage Solutions include:

  • Prime Jumbo
  • Platinum
  • Portfolio Select/Alt-A
  • Bank Statement (Personal or Business)
  • Asset Qualifier
  • Non-Prime/Recent Housing Event
  • Investor Cash Flow
  • Foreign National

Learn more about our alternative lending programs here, or download our correspondent package to get started in working with Angel Oak Mortgage Solutions.

About Angel Oak Mortgage Solutions

Angel Oak Companies is an industry leader in delivering innovative mortgage credit solutions. Through our integrated platform, we deliver solutions across asset management, mortgage lending and capital markets.

Angel Oak Mortgage Solutions offers a breadth of alternative lending products to allow our clients to grow their business and better serve their customers. We re-connect qualified home buyers with the investor community to create a win/win/win for the borrower, originator and investor. As a highly entrepreneurial organization, we are able to quickly adapt to the needs of our clients and embrace a strong service-based culture.

Angel Oak Mortgage Solutions currently offers alternative correspondent mortgage lending services across Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Missouri, New Jersey, New Mexico, Nevada, North Carolina, Oklahoma, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington and Wisconsin.