Angel Oak Capital Advisors announced Friday its completion of a $146.4 million nonprime securitization, according to a news release.
Backed by non-QM mortgage loans, this marks as the company’s third securitization since 2015, overall amassing more than $430 million in total securitized assets.
“Angel Oak will continue to be a leader in non-QM space because of our highly selective securitization parameters,” said Mike Fierman, co-CEO of Angel Oak. “Thanks to new regulations that have strengthened this market, the quality of collateral today is very different than in previous years. We’re committed to the continued revitalization of this market by providing high quality securitizations to meet investor demand.”
Mortgages from the company’s two affiliated residential mortgage lenders – Angel Oak Mortgage Solutions LLC (wholesale) and Angel Oak Home Loans LLC (retail) – backed all three securitizations.
“This securitization is a true cross-section representation of the Angel Oak mortgage company’s production,” Fierman added. “We are able to show that we can finance and securitize our production through the coordinated efforts of our affiliated companies. Having the capability to securitize our originated mortgages shows that the broad market has accepted what we do.”
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