Last year was a record-setting year for many companies in the mortgage lending space, especially for the Angel Oak lending platform that consists of Angel Oak Mortgage Solutions and Angel Oak Home Loans.
Angel Oak Lending funded a company record of $3.9 billion in non-QM mortgages and surpassed $10 billion in lifetime non-QM origination volume. Additionally, the company had a more than 30% employee headcount growth for Angel Oak Lending, taking the total enterprise-wide headcount of Angel Oak Companies to more than 900 employees.
“2021 showcased the strength of Angel Oak’s lending platform, and our origination success over the past year serves as a testament to our ability to innovate and adapt to better serve our customers in underserved markets,” says Steven Schwalb, managing partner for Angel Oak Lending. “We have incredible momentum going into 2022 and see the non-Agency space continuing to grow rapidly against a favorable economic backdrop, a robust housing market, and changes at the GSE level that will point more lenders toward private capital.”
The company anticipates it will be able to originate over $7.5 billion in non-QM loans in 2022. To do so, Angel Oak says it will further integrate cutting-edge technology and a data-driven approach across its entities. Technology introduced in 2021 on Angel Oak’s mortgage platform enhanced the overall customer experience and streamlined the non-QM origination process, according to the company. Throughout 2022, Angel Oak intends to leverage its data set and insights to develop new mortgage products and bring investment solutions to institutional investors.
“We are dedicated to incorporating technology into every aspect of our business,” Mike Fierman, managing partner and co-CEO of Angel Oak Companies. “By focusing on data and analytics, we are able to thoughtfully expand and provide the best solutions to our clients — whether they’re potential homebuyers or institutional investors.”
Angel Oak Capital Advisors launched the industry’s first pure-play, non-QM real estate investment trust through Angel Oak Mortgage, Inc., which trades on the New York Stock Exchange under the ticker “AOMR.” Other achievements in 2021 include surpassing of $10 billion in lifetime securitization volume and the issuance of the first U.S. non-Agency social bond securitization.
“Angel Oak’s ability to collaborate across its entities and create new opportunities for growth differentiates us in the marketplace,” says Fierman. “We plan to continue to leverage this advantage going forward and deliver more solutions across the spectrum, while increasing our efficiencies and improving operations in areas ranging from lending to the capital markets.”