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Angel Oak Records $891M in Non-QM Q3 Originations

Phil Hall
Oct 23, 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 has reported a record $891 million boom in non-QM originations during the third quarter, a 31 percent increase in origination volume over the second quarter and a 41 percent spike compared with the third quarter of 2018.
The Atlanta-headquartered company added that this volume, which was led by its affiliated lenders Angel Oak Mortgage Solutions, LLC and Angel Oak Home Loans LLC, brought its total year-to-date non-QM volume to $2.1 billion, a 52 percent increase over the first three quarters of 2018. This year also saw the opening of 15 new branches this year, for a total of 33 branches servicing 18 states.
Angel Oak Capital Advisors LLC, the company’s investment management affiliate, ended the third quarter with approximately $10.6 billion in assets under management (AUM) after crossing the $10 billion AUM mark in June. During this same period, it completed a $558 million non-QM securitization, its fourth securitization for 2019, bringing the firm’s total year-to-date issuance to approximately $2.2 billion. The Angel Oak lending platform originated $681 million for the second quarter of 2019, a 45 percent increase from Q2 2018.
“The growth in all facets of our business serves as a testament to the future of mortgage lending and Angel Oak’s leadership in the space,” said Mike Fierman, co-CEO of Angel Oak Cos. “Angel Oak has led the revitalization of quality non-prime lending through a focused approach to making the process as easy and efficient as possible. The service our incredible team provides is the reason our success continues, and we are looking forward to the future.”
In August, Angel Oak announced the launch of QuickQual, a tool designed to help loan officers determine borrower eligibility for non-QM loans.

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