Skip to main content

Angel Oak Continues to Set Records in Q1

NationalMortgageProfessional.com
Apr 17, 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

In the first quarter 2019, Angel Oak Companies (Angel Oak Home Loans and Angel Oak Mortgage Solutions) reported originating a record $563 million. This represents an astounding 82 percent  increase over non-QM originations in Q1 2018, which had previously set a record. The Angel Oak lending platform and its affiliates also hired 70 new employees during Q1 2019, bringing its total workforce to 675.
 
“We have clearly become the industry leader in non-QM lending and couldn’t be more excited about the growth and success of Angel Oak,” said Steven Schwalb, Managing Partner of the Angel Oak lending platform. “Despite a challenging mortgage lending environment, Angel Oak has consistently set new records for growth. That growth is a credit to both our products and our people. In fact, we’re continuing to hire top talent because we see continued growth in non-QM for years to come.”
 
In 2018, Angel Oak doubled its originations of non-qualified mortgages from $1.1 billion to $2.2 billion and increased its head count by 53 percent. The company is now set to reach even greater heights, with lending units, Angel Oak Home Loans and Angel Oak Mortgage Solutions, reacting to accommodate the company’s impressive growth, Angel Oak Home Loans added eight new branches, bringing its total branch number to 32, servicing 18 states. Angel Oak Mortgage Solutions improved and expanded its Dallas facility, tripling the size of the previous space to now offer capacity for more than 100 staff members, and also increased the size of its Atlanta headquarters.
 
“We’re setting the standard in the non-QM space by hiring only the best people and providing only the highest-quality products,” said Mike Fierman, Co-CEO of Angel Oak Companies. “Our expertise, unique structure and commitment to quality set Angel Oak apart from the competition. All non-QM loans originated by Angel Oak are also securitized by Angel Oak. As the issuer, investor and owner, we must be very careful to select only high-quality loans. Our constant focus on quality defines us and will always guide our mission.”

 
Published
Apr 17, 2019
Federal Regulators Race To Address Cryptocurrency Risks

Cryptocurrency is quickly morphing into a volatile but widely embraced innovation, and federal regulators are racing to address the potential risks to consumers and the market. 

Industry News
Sep 24, 2021
MBA Initiative Seeks To Close Racial Homeownership Gap

Says its advocacy, partnerships & connections will help increase opportunities for minority borrowers

Industry News
Sep 24, 2021
Guaranteed Rate Opens New Branch In Southwestern Michigan

Guaranteed Rate expanded its presence in Southwester Michigan, after opening a new branch in St. Joseph

Industry News
Sep 22, 2021
Chinese Property Giant Evergrande Falters, Threatening U.S. Investors

On Monday, investors across three continents dumped their stocks, mainly out of fear that the world’s two largest governments — the United States and China — would undercut the beginnings of a global economic recovery. 

Industry News
Sep 22, 2021
Compass Mortgage Expands In Four Additional States

Compass Mortgage is now licensed in Virginia, Washington, North Carolina and South Carolina.

Industry News
Sep 22, 2021
Enact Holdings Completes IPO

Genworth Financial Inc. announced the completion of the initial public offering for its subsidiary Enact Holdings Inc.

Industry News
Sep 21, 2021