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

Jul 13, 2017

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.”

About the author

NationalMortgageProfessional.com

Link copied

Published

Jul 13, 2017

People On The Move

Figure Technology Solutions Names Michael Tannenbaum New CEO

Founder and former CEO, Mike Cagney, assumes the role of executive chairman.

Figure Technology Solutions (FTS), parent company of five-days-to-close HELOC originator, Figure Lending, announced today the appointment of Michael Tannenbaum as chief executive officer (CEO) and a member of the Board of Directors. Co-founder and previous CEO of the company...

Analysis and Data

Monthly, Yearly Jump In New Home Sales In March

The growth coincides with roughly a quarter of builders saying they cut prices last month.

Sales of newly built, single-family homes in March jumped 8.8% month-over-month, reaching a seasonally adjusted annual rate of 693,000 units compared to February's revised 637,000 units, according to data released jointly today by the U.S. Census Bureau and the Department of...