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Angel Oak Enjoys Record Q1
Apr 26, 2018
Angel Oak Companies announced that it closed 2019 with more than $17 billion in gross assets under management and six non-QM securitizations, totaling approximately $3.1 billion, up from roughly $2 billion in 2018

Angel Oak Companies kicked off 2018 with record growth, revamped products and new hires for its three affiliated lending units, Angel Oak Mortgage Solutions, Angel Oak Home Loans and Angel Oak Prime Bridge. Angel Oak’s successful start to the first quarter of 2018 includes a record of $340 million in non-qualified mortgage (non-QM) originations, a 62 percent increase over Q1 2017, in addition to the hiring of 59 new employees to its lending platform. Angel Oak now has its sights set on more than doubling its year-over-year non-QM volume, from $1.1 billion in 2017 to $2.5 billion in 2018.
“We’re setting the standard when it comes to non-QM lending,” said Steven Schwalb, Managing Partner of the Angel Oak lending platform. “Across the mortgage industry, more and more participants are realizing just how fast this segment is growing. We are the leaders because we have been offering innovative, high-quality non-QM products for years. Our success today is a direct result of the expertise we’ve built.”
In addition to record origination numbers, Angel Oak Capital Advisors completed two unique mortgage securitizations this year. The first of its kind, AOMT 2018-PB1 was a $90 million securitization backed by “fix-and-flip” loans originated by Angel Oak Prime Bridge, which featured an 18-month revolving period in which paid collateral is replaced with new collateral. The second securitization, AOMT 2018-1, totaled $328.78 million and was Angel Oak Capital Advisors’ seventh and largest mortgage securitization to date. These two securitizations highlight Angel Oak Capital Advisors’ experience and leadership in a demand-fueled marketplace.
In the wholesale channel, Angel Oak Mortgage Solutions, which has paved the path in the revival of quality non-prime products, recorded its best origination numbers in Q1. Part of this success came from expansion of the correspondent channel and its product innovations, including the Platinum Program, a go-to solution for brokers looking to add unique tools to their arsenal. Angel Oak Mortgage Solutions also added a new Dallas operations center, positioning the firm for continued growth as it leads the charge in new markets with an even larger team.
Earlier this week, Angel Oak Companies announced the launch of Angel Oak Commercial Lending LLC, providing financing to commercial real estate owners, developers and investors.
“We’re carving out a clear leadership position in the non-QM space by hiring top-tier people and bringing the best products to market,” said Schwalb. “Over the last year, we’ve seen non-QM lending become more widely accepted than any other time in the post-crisis period. As more players enter the space, many will attempt to emulate our success. However, our expertise, our commitment to quality and our unique structure sets Angel Oak apart from the competition.”

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