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Angel Oak Enjoys Record-Setting 2018
Feb 06, 2019
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 continued to lead the way in the growth of the mortgage credit industry during 2018. The company–which comprises Angel Oak Capital Advisors and lending units Angel Oak Mortgage Solutions, Angel Oak Home Loans, Angel Oak Commercial Lending and Angel Oak Prime Bridge–celebrated a number of achievements and significant growth over the past calendar year. Angel Oak’s achievements include doubling its originations of non-qualified mortgages from $1.1 billion in 2017 to $2.2 billion, increasing headcount by 53 percent to 648 people, and successfully completing four residential mortgage securitizations totaling $1.1 billion. Angel Oak’s accomplishments reaffirm its position as a leader in the non-QM space, while its unique structure positions the company for continued growth throughout 2019.
“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 Angel Oak Companies Managing Partner and Co-Chief Executive Officer Michael Fierman. “We’ve reached an inflection point for non-QM products, and the industry across the country now sees the strong demand for our 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.”
During the past year, Angel Oak’s lending units:
►Originated more than $2.2 billion in non-QM loans, a 118 percent rise on a year-over-year basis. The lending companies also tacked on another record-breaking quarter in Q4 of 2018, with a 121 percent increase over Q4 2017.
►Successfully launched Angel Oak Commercial Lending LLC, which provides financing to commercial real estate owners, developers and investors. Angel Oak Commercial Lending also acquired a controlling interest in Cherrywood Mortgage, a small-balance lender based in California.
►Expanded the Angel Oak Mortgage Solutions unit into four new states, while Angel Oak Home Loans added 18 new branches in four new states.
►Earned  “Legend of Lending” honors from National Mortgage Professional Magazine, and Angel Oak’s Steve Arnold received a 2018 Account Executive MVP Award. Mary Aston, VP, Director of Corporate Initiatives at Angel Oak Home Loans, was named as one of Mortgage Banking's Most Powerful Women by National Mortgage Professional.
►Ranked by Inside Mortgage Finance Publications as the largest non-bank originator of “expanded credit” mortgages (including non-QM).
In 2018, Angel Oak Capital Advisors reached the following milestones:
►Achieved approximately $9 billion in assets under management via a combination of its public funds, private funds and separately managed accounts–a 12 percent gain over the previous year.
►Issued four securitizations totaling over $1.1 billion, three of which almost fully contained non-qualified mortgages issued by its affiliated lending companies.
►Launched the Angel Oak UltraShort Income Fund (AOUAX) in April, which has already surpassed $100 million in assets under management. The fund’s goal is to provide current income while seeking to minimize price volatility. This fund invests in Angel Oak’s best ideas in structured credit, but on the short-end of the credit curve.
►Raised $291 million in capital commitments for its first private credit fund that invests primarily in non-qualified mortgages.
“The Angel Oak team has been at the forefront of the mortgage industry’s post-crisis growth and we are proud to be one of the largest non-QM lenders and a leader in non-QM securitizations,” said Fierman.

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