Skip to main content

The Powerful Return of Non-Prime: New Non-Agency Mortgage Solutions for Your Non-Prime Clients

Non-Agency mortgage lenders specializing in non-prime wholesale lending are experiencing an industry-wide boom in a demand for subprime mortgage loans. The boom in non-Agency wholesale lending is allowing subprime residential mortgage brokers to offer non-QM mortgage loans to clients who were previously unable to obtain residential mortgage loans due to the tightening of credit standards the subprime mortgage loans they need. Angel Oak Mortgage Solutions offers a unique set of non-prime wholesale mortgage loans to meet this demand. Subprime mortgages, the engine behind the once-booming wholesale mortgage origination industry, are now roaring back in a powerful return, expanding non-prime wholesale mortgage lending and the wholesale mortgage industry as a whole.

The solutions for agency fall-out Angel Oak Mortgage Solutions offers to wholesale mortgage brokers include a number of market unique non-prime mortgage lender solutions. With the Non-Prime Program, non-prime credit scores can start as low as 500, and borrowers can be 1 day out of foreclosure, short sale, deed-in-lieu, or bankruptcy. Self-employed non-prime borrowers can take advantage of Angel Oak Mortgage Solution’s bank statement program in which they utilize bank statements to prove financial responsibility. Loans for these Alt-A mortgage programs are available in amounts up to $1 million. These non-prime wholesale mortgage loans are available as a 30-year fixed non-prime mortgage and have no pre-payment penalty. In addition, this non-Agency mortgage loan allows for up to 80% LTV (loan-to-value) and up to 50% DTI (debt-to-income). Thanks to non-Agency residential lenders, non-prime homebuyers will be able to enjoy owner-occupied or second homes as well as non-warrantable condominiums.

With Portfolio Select, Angel Oak Mortgage Solutions offers non-qualified mortgage solutions for Agency fall-out situations. Nonprime borrowers with poor credit and credit scores as low as 640 are able to participate. There is a 24 months seasoning for foreclosure, short sale, or bankruptcy, and Portfolio Select is available in up to a $2 million loan. Portfolio Select also offers a bank statement program for self-employed non-prime mortgage applicants as well as options for both owner-occupied and second homes. The non-Agency wholesale lender program Portfolio Select is available as a 30-year fixed non-prime mortgage loan with no pre-pay penalty. Cash-out is available in up to a $500,000 maximum.

Angel Oak Mortgage Solutions also offers specialized flexibility for non-qualified wholesale mortgage lenders. Angel Oak Mortgage Solutions integrates technology into the Alt-A mortgage loan process allowing non-prime wholesale lenders to track non-prime mortgage loan statuses online and apply for non-Agency whole mortgage loans with paperless submission offerings. The streamlined services and technology offered by Angel Oak Mortgage Solutions for non-qualified wholesale lenders enables quicker response times, decision making, and tracking.

Angel Oak Mortgage Solutions offers a number of unique non-prime wholesale mortgage and non-Agency specialty programs in the current market for non-prime residential mortgage loan borrowers who may not meet the standard Agency guidelines for financing. These Alt-A mortgage wholesale lender products, which allow non-prime wholesale mortgage lenders to provide non-qualified mortgage seekers residential mortgages, are contributing once again to a booming non-prime mortgage housing market.

Learn more about non-prime wholesale mortgages from Angel Oak Mortgage Solutions