Skip to main content

Fitch Assigns Expected Ratings To Angel Mortgage Trust 2021-4

David Krechevsky
Aug 12, 2021

Certificates Supported With A Balance of $317M; Nearly 80& In Non-QM Loans

Fitch Ratings has assigned expected ratings to Angel Oak Mortgage Trust 2021-4.

In announcing the ratings on Wednesday, Fitch said it expects to rate the residential mortgage-backed certificates to be issued by Angel Oak Mortgage Trust 2021-4, Mortgage-Backed Certificates, Series 2021-4 (AOMT 2021-4) as follows (all long-term ratings):

  • A-1 & A-2, AA(EXP)sf
  • A-3, AA(EXP)sf
  • M-1, BBB(EXP)sf
  • B-1, BB(EXP)sf
  • B-2, B(EXP)sf
  • B-3, A-10-S & XS, NR(EXP)sf

The certificates are supported by 632 loans, with a balance of $316.65 million as of the cutoff date. This will be the 16th Fitch-rated AOMT transaction.

The certificates are secured by mortgage loans originated by Angel Oak Home Loans LLC and Angel Oak Mortgage Solutions LLC (referred to as Angel Oak originators) and two other originators that originated less than 10% of the loans. Of the loans in the pool, 79.9% are designated as nonqualified mortgage (Non-QM), and 20.1% are investment properties not subject to the Ability to Repay (ATR) Rule. No loans are designated as QM in the pool.

There is LIBOR exposure in this transaction: 0.2% of the pool comprises adjustable-rate mortgage (ARMs) loans that reference 1-year LIBOR. The offered certificates are fixed-rate and capped at the net weighted average coupon.

To read the detailed ratings report, click here. Additional information is available on www.fitchratings.com.

Published
Aug 12, 2021
More from
Non-QM
Global Atlantic Acquires Majority Stake in eRESI Mortgage

eRESI Mortgage LLC, a mortgage funding platform offering private capital to the residential mortgage market, has announced that subsidiaries of The Global Atlantic Financial Group have made a commitment to become its majority owner.

Non-QM
Oct 13, 2021
KBRA Assigns Preliminary Ratings To EFMT 2021-3

Non-QM loans makes up 59% of the $257.6M non-prime RMBS transaction

Non-QM
Oct 07, 2021
KBRA Assigns Preliminary Ratings To GCAT 2021-NQM5 Trust

The $348.3M non-prime RMBS transaction includes 51.4% non-QM loans

Non-QM
Oct 06, 2021
Plaza Home Mortgage Relaunches Solutions Non-QM Program

Plaza Home Mortgage, Inc. is re-activating its Solutions Non-QM program, offering loan amounts up to $3.5 million.

Non-QM
Sep 30, 2021
KBRA Assigns Preliminary Ratings To Provident Funding Mortgage Trust

KBRA assigned preliminary ratings to 27 classes of mortgage pass-through certificates from Provident Funding Mortgage Trust 2021-J1 (PFMT 2021-J1).

Investor Loans
Sep 29, 2021
KBRA Assigns Preliminary Ratings To GCAT Non-QM Trust

The Kroll Bond Rating Agency assigned preliminary ratings to seven classes of mortgage pass-through certificates for Gold Creek Asset Trust 2021-NQM5 Trust.

Non-QM
Sep 27, 2021