ATLANTA--(BUSINESS WIRE)--Angel Oak Mortgage Solutions announced today that its non-agency mortgage products are now available to third party lenders through a mini-correspondent channel. The platform provides affiliated lenders with the opportunity to offer Angel Oak Mortgage Solutions’ non-agency products in their respective lenders’ name.
“We’ve been looking forward to making our non-agency, non-prime products available to lenders that are interested in diversifying their product offerings and growing sales in 2015 and beyond,” noted Tom Hutchens, senior vice president of sales and marketing at Angel Oak Mortgage Solutions. “2014 was an important year for non-agency lending as these products started to regain a foothold in home mortgages. The mini-correspondent channel is an important next step as we continue to develop our program.”
Angel Oak Mortgage Solutions specializes in non-agency lending, with a focus on non-prime loans. The firm has seen sales volume consistently increase since the inception of the non-agency lending program early in 2014, and ended the year with its highest volume month to date in December.
Hutchens went on to add that, “The definition of subprime has changed quite a bit since the credit crisis. Stricter regulations on ability-to-repay requirements as well as more prudent loan-to-value ratios have led to a significantly decreased number of loan defaults. In fact, since we began issuing non-prime loans, we have not had a single borrower default.”
For more information on how to join the mini-correspondent platform, please contact Angel Oak at 855-539-4910 or visit www.angeloakms.com.
About Angel Oak Mortgage Solutions
Angel Oak Mortgage Solutions offers non-Agency and specialized mortgage solutions for brokers throughout the country, providing consumers with unique flexibility when applying for home loans. With a technology platform that allows for paperless submission and the ability to track loan status with the click of a button, our streamlined operations encourage quick response times, allowing for dependable communication and decision-making.
Angel Oak Mortgage Solutions is comprised of a team of qualified mortgage professionals who provide programs specifically for consumers whose circumstances may not meet standard Agency financing guidelines. With services available to brokers in more than twenty states, Angel Oak Mortgage Solutions is proud to serve as your team of non-agency lending specialists.