Angel Oak expects to more than double non-QM originations in 2018

by Francis Monfort16 May 2018

Angel Oak Mortgage Solutions, a wholesale and correspondent provider of non-qualified mortgage (non-QM) loans, has announced plans to increase its efforts in the non-QM correspondent lending space.

Angel Oak lending entities expect to more than double their non-QM loan originations in 2018 after recording $1.2 billion in non-QM loans originated in 2017 via its mortgage platform. Through correspondent relationships, Angel Oak Mortgage Solutions expects significant growth in 2018 and beyond.

Angel Oak Mortgage Solutions said that it is uniquely positioned to lead a resurgence in correspondent lending in the space given its position as a leader in the non-QM market as well as its alignment with affiliated company Angel Oak Capital Advisors.

“From the underwriting, lending, and securitization processes, the Angel Oak family of companies has industry-leading experience in every aspect of the non-Agency market,” Tom Hutchens, senior vice-president of sales and marketing for Angel Oak Mortgage Solutions, said. “This distinct corporate structure, our years of experience with non-Agency products, and our ability to securitize our production make Angel Oak Mortgage Solutions an ideal partner for lenders seeking a non-Agency correspondent relationship.”

Hutchens said the company believes the non-QM market will grow to more than $100 billion in the coming years even though non-QM originations currently total about $20 billion per year.

“We are seeing a lot of demand in the non-agency market, especially as more national lenders enter the space after seeing the value these products bring to the table. Angel Oak Mortgage Solutions is now prepared to fulfill this demand even better through correspondent relationships with regional and national lenders,” Hutchens said.


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