Angel Oak Branches Into the Commercial Lending Space

NationalMortgageProfessional.com

Apr 23, 2018

Atlanta-based Angel Oak Commercial Lending LLC has acquired a controlling interest in Cherrywood Mortgage LLC

Angel Oak Companies has announced the launch of Angel Oak Commercial Lending LLC, which will provide financing to commercial real estate owners, developers and investors. Angel Oak Commercial Lending will provide both short- and long-term financing for projects across the commercial sector, including multifamily, industrial, mixed use, retail, office, self-storage and other specialized segments.

“There is a lending void in specific segments of commercial real estate, especially those under $5 million in size,” said Ben Easterlin, Senior Vice President of Commercial Lending at Angel Oak. “In many cases, banks may be constrained in their ability to make commercial real estate loans due to government regulations or corporate limitations on the types and amounts of loans they can issue. Angel Oak Commercial Lending will be a viable solution to provide capital for deserving property developers, owners and investors in commercial real estate.”

Over his 20-year career, Easterlin has provided, arranged or consulted on more than $3 billion of debt and equity placements while working at several previous lending firms.

Angel Oak Commercial Lending will follow the success of the firm’s residential lending businesses, particularly in the non-QM market, where Angel Oak’s lending affiliates combined to issue over $1.1 billion in non-QM loans in 2017.

“Angel Oak has an established track record of providing financing in constrained and dislocated markets and sees commercial lending as the next extension of this line of thinking,” Easterlin said.

Link copied

Published

Apr 23, 2018

Industry News

CHLA Advocates Attorney Opinion Letters As Alternatives To Title Insurance

CHLA asks FHFA to explore use of the letters.

The Community Home Lenders of America (CHLA) told Federal Housing Finance Director Sandra Thompson in a letter Wednesday that attorney opinion letters (AOLs) are viable alternatives to title insurance.  The organization cited the ongoing challenges related to rising mo...

People On The Move

Guild Mortgage Appoints Adam O'Daniel As Chief Marketing Officer

Industry veteran will lead marketing and branding initiatives.

Guild Mortgage announced the appointment of Adam O’Daniel as senior vice president and chief marketing officer Wednesday. In a press release, Guild said O'Daniel brings 15 years of experience in the mortgage and financial sectors previously having worked for Open Mortgage ...