07/12/17
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.
The appetite for riskier mortgages is rising, and a small cadre of investment firms is ready to feed it. Angel Oak Capital Advisors just announced its second rated securitization of nonprime residential mortgages this year, a deal worth just more than $210 million and its largest ever. Its first deal was slightly less, but demand from borrowers and investors alike is growing, and the securitizations are growing with it…