Angel Oak Completes $210.45 Million Securitization of Non-Prime Residential Mortgages

Angel Oak Capital Advisors has announced the completion of AOMT 2017-2, a $210.45 million securitization of non-prime residential mortgages. The securitization is backed by non-Qualified Mortgages (non-QM) which were fully sourced through the firm’s three affiliated mortgage lenders–Angel Oak Mortgage Solutions, Angel Oak Home Loans and Angel Oak Prime Bridge. The senior tranche of AOMT 2017-2 received a AAA-rating from both S&P and DBRS and represents Angel Oak’s success in helping to revitalize the non-QM marketplace.

 

“We had solid execution due to the large securitized investor following that we have developed over the last two years. In fact, this was the tightest execution in the non-QM market to date, furthering our brand recognition and leadership in the non-QM securitization space,” said Sreeni Prabhu, Angel Oak’s Co-Chief Executive Officer and Chief Information Officer.

 

This transaction marks Angel Oak’s fourth securitization since 2015, accounting for more than $630 million in total securitized residential mortgage loans. All four securitizations have been backed by mortgages originated through Angel Oak’s affiliated lenders.

 

“We believe investors like Angel Oak’s vertically integrated issuer model,” said Prabhu. “This is unique in the marketplace and offers them a “pure play” exposure to Angel Oak’s origination and underwriting capabilities.”

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