September 26, 2017 10:00 AM Eastern Daylight Time
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.
- Angel Oak is on pace to exceed $1 billion of non-QM mortgage originations this year, positioning them as a clear leader in the industry.
- Angel Oak has introduced a diverse array of innovative portfolio products, such as the 12-month bank statement program, which helps credit-worthy borrowers gain access to capital and become homeowners.
- Angel Oak has added an additional 65 employees to their lending platforms this year, broadening their reach into Seattle, Portland, Philadelphia, Minneapolis, Columbus, Las Vegas, Houston, and New Jersey.
- A newly established correspondent lending channel will allow for even more accelerated volume growth as consumers, investors and brokers recognize the benefits of these products.
“The market’s acceptance of our non-QM products shows that the mortgage lending environment has changed. Originating over $1 billion in non-QM loans puts us at the forefront of the industry,” remarked Mike Fierman, co-CEO of Angel Oak Companies. “Clearly, investors, brokers and consumers are feeling more comfortable with these products.”
“We’ve worked really hard to develop an innovative product line that helps credit-worthy borrowers obtain financing. The fact that we are able to securitize and sell these mortgages to investors highlights the quality of our originations,” says Steven Schwalb managing partner of Angel Oak’s lending platform. “Originating $1 billion in non-QM loans is an important milestone that demonstrates the market’s confidence in these products and our work in the non-QM space.”
About Angel Oak Companies
Angel Oak Companies is a collective of independent and diversified financial services firms, focused on being an industry leader in delivering innovative mortgage credit solutions. Through our integrated credit and investment platform, we deliver solutions across asset management, lending, and capital markets. Focused on identifying dislocations across the markets created by macroeconomic, financial or regulatory events, we create products and services to help out clients extract value from the opportunities.
For more information, please visit: www.angeloakcompanies.com
About Angel Oak Mortgage Solutions, LLC
Angel Oak Mortgage Solutions, a leader in alternative lending solutions, is the top wholesale provider of non-qualified mortgage loans. Angel Oak’s team of mortgage experts continues to pioneer a fresh, common sense approach to overcoming today’s mortgage lending challenges. Operating in 36 states, their breadth of Non-Agency products expands the pool of borrowers by offering partners more opportunities to grow their business and better serve their customers.
For more information, please visit www.angeloakms.com
About Angel Oak Home Loans LLC
Angel Oak Home Loans is a full service mortgage lender. In addition to offering traditional mortgage products, Angel Oak Home Loans and the Angel Oak family of companies specializes in innovative alternative lending options. Its flexible, supportive approach empowers prospective homebuyers to embark on a new path with confidence. Angel Oak’s experienced team of licensed mortgage advisors is leading the way by delivering start-to-finish mortgage support and an exceptional client experience.
For more information, please visit: www.angeloakhomeloans.com
About Angel Oak Prime Bridge, LLC
Angel Oak Prime Bridge, LLC is a commercial residential lender providing financing solutions for today’s real estate investor. The Company was created in 2011 by individuals with extensive lending experience in the residential and commercial lending space. Their lending philosophy is founded upon a tenet of providing innovative portfolio loan programs, while consistently delivering an exceptional client experience, for both borrowers and referral partners.
For more information, please visit: www.angeloakprimebridge.com