Angel Oak Companies has a record-breaking year in 2018. The company – which includes subsidiaries Angel Oak Capital Advisors, Angel Oak Mortgage Solutions, Angel Oak Home Loans, Angel Oak Commercial Lending and Angel Oak Prime Bridge – saw significant growth over the year.
Angel Oak doubled its originations of non-QM mortgages from $1.1 billion in 2017 to $2.2 billion, increased its headcount by 53% to 648 employees, and completed four residential mortgage securitizations totaling $1.1 billion.
“In 2018, our lending units saw a distinct rise in the popularity and use of non-QM products as more creditworthy borrowers turned to these innovative options,” said Michael Fierman, Angel Oak Companies managing partner and co-CEO. “We’ve reached an inflection point for non-QM products as well as the quality, speed and service delivered by Angel Oak. We continue to see great potential for this market, and look forward to getting more borrowers into additional homes in 2019.”
In 2018, Angel Oak Companies also successfully launched Angel Oak Commercial Lending, expanded Angel Oak Mortgage Solutions into four new states, and added 18 branches in four new states to Angel Oak Home Loans.