ATLANTA--(BUSINESS WIRE)--Angel Oak Capital Advisors, LLC, has completed AOMT 2019-1, a $609 million securitization primarily composed of non-QM residential mortgages and backed almost solely by loans originated by its affiliated mortgage lenders Angel Oak Mortgage Solutions, LLC, Angel Oak Home Loans, LLC, and Angel Oak Prime Bridge, LLC. The transaction was rated by both Fitch and DBRS.
AOMT 2019-1 is the largest non-QM transaction of affiliated originator loans completed since the 2008 financial crisis. The deal also marks Angel Oak’s ninth and largest non-QM securitization, bringing the total issuance amount to $2.6 billion. All nine securitizations have been backed almost entirely by mortgages originated by Angel Oak’s affiliated lenders.
“The size of this deal reflects our strong investor following and leadership in the non-QM market. Angel Oak’s vertically integrated issuer model uniquely positions us in the marketplace because, through our AOMT securitizations, we are able to provide investors with direct exposure to non-QM loans originated by our affiliated mortgage lenders,” said Sreeni Prabhu, Angel Oak co-CEO and CIO.
AOMT 2019-1 consists of 1,752 loans with an average weighted credit score of 710. The average loan amount is $348,000, with the majority of the loans issued in California, Florida and Georgia.
“Angel Oak has established itself as a leader and pioneer in both non-QM lending and securitizations. We believe our programmatic non-QM issuance further demonstrates the sector’s post-crisis growth, and we look forward to contributing to the continuation of that momentum,” said Lauren Hedvat, managing director of capital markets.
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 12/31/18, Angel Oak Capital Advisors had approximately $8.9 billion in assets under management through a combination of public 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 products, is one of the top wholesale and correspondent providers of non-qualified mortgage loans in the nation. Its team of mortgage experts continues to pioneer a fresh, commonsense approach to overcoming today’s mortgage lending challenges. The team operates in 43 states, and their breadth of non-QM products expands the pool of borrowers by offering partners more opportunities to grow their businesses 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 residential mortgage lender. In addition to offering traditional mortgage products, it specializes in innovative alternative lending options. Angel Oak Home Loans’ flexible, supportive approach empowers prospective buyers to embark with confidence on a new path to home ownership with confidence. Its 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 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. Its lending philosophy is founded on the principle 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.