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.”