ATLANTA--(BUSINESS WIRE)--Angel Oak Capital Advisors, LLC (Angel Oak), announced today it has completed AOMT 2018-2, a $402 million securitization almost entirely comprised of non-QM residential mortgages. The securitization is backed by mortgages that were primarily sourced through the firm’s three affiliated mortgage lenders, Angel Oak Mortgage Solutions, LLC, Angel Oak Home Loans, LLC, and Angel Oak Prime Bridge. The senior tranche of AOMT 2018-2 received an AAA rating from both Fitch and DBRS.
AOMT 2018-2 marks Angel Oak’s largest non-QM securitization to date. Its seven non-QM securitizations now account for approximately $1.6 billion in total securitized residential loans. All seven securitizations have been largely backed by mortgages originated through Angel Oak’s affiliated lenders.
“Our vertically integrated model allows us to securitize loans originated by our affiliated lending businesses that meet our investment parameters. The success of our affiliated lending companies is proof that our model works. Investors have confidence in both the transparency provided by our origination and in our underwriting capabilities,” said Sreeni Prabhu, Angel Oak co-CEO and CIO.
The deal was comprised of 1,096 loans with an average weighted credit score of 704 and an average loan amount of $366,797. The majority of the loans included in the securitization were issued in California, Florida and Georgia.
“Our securitizations have established a strong investor base following our program’s frequent issuance, execution and consistent quality. Angel Oak’s leadership in both non-QM securitizations and originations continues to be recognized throughout the industry,” said Lauren Hedvat, managing director of capital markets.
| Year |
# of |
Issuance (millions) | |||
| 2015 | 1 | $ | 150.4 | ||
| 2016 | 1 | $ | 132.6 | ||
| 2017 | 3 | $ | 567.1 | ||
|
2018 - YTD |
2 | $ | 730.8 | ||
| Total | 7 | $ | 1,580.9 | ||
About Angel Oak Capital Advisors, LLC
Angel Oak Capital Advisors is an investment-management firm focused on providing compelling fixed-income investment solutions for its clients. Backed by a value-driven approach, Angel Oak Capital Advisors seeks to deliver attractive risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit.
As of May 31, 2018, Angel Oak Capital had approximately $8.9 billion in assets under management across its mutual funds, private funds and separately managed accounts.
For more information, please visit: www.angeloakcapital.com
About Angel Oak Mortgage Solutions, LLC
Angel Oak Mortgage Solutions, a leader in alternative lending solutions, is the top wholesale and correspondent provider of non-qualified mortgage loans. Angel Oak’s team of mortgage experts continues to pioneer a fresh, common-sense approach to overcoming today’s mortgage lending challenges. Operating in 38 states, their breadth of non-agency products expands the pool of borrowers by offering partners more opportunities to grow their business and better serve their customers.
For more information, please visit: www.angeloakms.com
About Angel Oak Home Loans, LLC
Angel Oak Home Loans is a full-service mortgage lender. In addition to offering traditional mortgage products, Angel Oak specializes in innovative alternative lending options. Angel Oak Home Loans’ flexible, supportive approach empowers prospective homebuyers to embark on a new path with confidence. Angel Oak’s experienced team of licensed mortgage advisors is leading the way by delivering start-to-finish mortgage support and a superior client experience.
For more information, please visit: www.angeloakhomeloans.com
About Angel Oak Prime Bridge, LLC
Angel Oak Prime Bridge is a commercial residential lender providing financing solutions for today’s real-estate investor. The company was created in 2011 by individuals with extensive lending experience in the residential and commercial lending spaces. Their lending philosophy is founded upon a tenet of providing innovative portfolio loan programs, while consistently delivering an exceptional client experience for both borrowers and referral partners.
For more information, please visit: www.angeloakprimebridge.com
