Angel Oak plots expansion in non-QM correspondent lending

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Angel Oak Mortgage Solutions recently added the ability for third party non-agency mortgage lenders to obtain alternative mortgage wholesale loans through a mini-correspondent channel. This channel allows non-qm wholesale mortgage providers to offer Angel Oak Mortgage Solutions products while still utilizing the mortgage company’s brand.

Angel Oak Mortgage Solutions LLC – NMLS #1160240 (nmls consumer Access). Licensed in AL #21875, AZ #0926930, AK #110480, Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, CO Regulated by the Division of Real Estate, CN #ML-1160240, DE #019971, DC #MLB1160240, FL, GA #41747, IL Residential Mortgage Licensee # MB.6761065, IN #24466, IA #2014-0070, KS MC.0025339, KY #MC292246, LA, ME #1160240, MD #21260, MI #FL0020868, MN #MN-MO-1160240.

 · Overall, the Angel Oak companies have seen substantial growth in non-QM lending recently. In the first quarter, Angel Oak’s non-QM originations were up 82% from the same period a.

 · Angel Oak Mortgage Solutions, LLC is enhancing its correspondent lending channel with new technology, infrastructure and high-level talent that reflect the stunning growth in the non-qualified.

Now, the company is tasking Namit Sinha with managing its non-QM investments. Angel Oak announced this week that it is hiring Sinha to serve as the company’s head of mortgage strategies. In this role,

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Angel Oak Mortgage Solutions is looking to add to its partnerships with lenders seeking a nonagency correspondent relationship on either the regional or national level, Hutchens said. The loans underlying securities from Angel Oak’s securitizations have had near-prime credit, recent bankruptcies, or been taken out by self-employed borrowers.

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Overall, the Angel Oak companies have seen substantial growth in non-QM lending recently. In the first quarter, Angel Oak’s non-QM originations were up 82% from the same period a year ago.

Angel Oak Mortgage Solutions reports that it is enhancing its correspondent lending channel with new technology, infrastructure and high-level talent that reflect the growth in the non-qualified mortgage (non-QM) marketplace.. The company has officially branded this channel as angel oak correspondent to solidify its position in the correspondent lending space.

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