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.
During 2019, Angel Oak’s mortgage platform, led by Angel Oak Mortgage Solutions and Angel Oak Home Loans, funded a company record $3.3 billion in non-QM mortgages, a 52 percent increase from one year earlier. Looking ahead into 2020, Angel Oak anticipates funding over $8 billion overall in residential mortgages.
"People want to invest with us because of our vertical integration, which allows us to control credit and growth thoughtfully," said Sreeni Prabhu, co-CEO and chief investment officer at Angel Oak Companies. "We’re proud of what we have built, and we see a bright future ahead as we tap into our information sources and data to improve our overall business and better serve investors."
Angel Oak also announced that Kroll Bond Rating Agency Inc. (KBRA) assigned preliminary ratings to six classes of its mortgage-backed notes from AOMT 2020-1, a $358.1 million non-prime RMBS transaction collateralized by a pool of 948 mortgages, which are mostly classified as non-prime. Approximately 80.6 percent of the loans were designated as non-QM.