ATLANTA--(BUSINESS WIRE)--Angel Oak Capital Advisors, LLC (Angel Oak), has completed AOMT 2019-2, a $621 million securitization primarily composed of non-QM residential loans. Consistent with its prior transactions, this securitization is almost solely backed 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 senior tranche of AOMT 2019-2 received a AAA rating from both Fitch and DBRS.
AOMT 2019-2 is Angel Oak’s largest non-QM securitization to date and its second issued this year. Angel Oak’s two securitizations in the first quarter of 2019 total $1.23 billion, already surpassing the total amount issued by the firm in all of 2018. This is Angel Oak’s 10th non-QM securitization, with a total issuance amount that now exceeds $3.2 billion.
“The non-QM market in the decade since the Great Recession has seen a resurgence, which is reflected in the size of our latest offering. We have a great understanding of the strength of the non-QM space because of our vertically integrated model. The size of our deals through the first three months of 2019 demonstrates our leadership in non-QM and the strong investor support that has followed,” said Sreeni Prabhu, Angel Oak co-CEO and chief investment officer.
AOMT 2019-2 is Angel Oak’s first securitization that complies with European Union risk-retention regulations broadening the ability for European investors to participate in the sector.
The latest securitization consists of 1,807 loans with an average weighted credit score of 712. The average loan amount is $343,633, with the majority of the loans issued in Florida, California and Georgia.
“Angel Oak has led the revitalization of both non-QM lending and securitizations through our focused approach and unique vertically integrated model. We intend to further the momentum in this growing sector through our programmatic issuance,” 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 February 28, 2019 Angel Oak Capital Advisors had approximately $9.3 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 solutions, is the top wholesale and correspondent provider of non-QM 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 44 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 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. 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 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