ATLANTA--(BUSINESS WIRE)--The Angel Oak lending platform (“Angel Oak”), composed of the specialized wholesale and correspondent non-qualified mortgage (non-QM) lender Angel Oak Mortgage Solutions and the full-service retail mortgage lender Angel Oak Home Loans, is proud to announce these entities have funded over $10 billion in non-qualified mortgages since their founding. With over twenty-six thousand loans funded, Angel Oak lending companies have helped thousands of potential borrowers become homeowners through innovative financing solutions and trailblazing the path for non-QM products.
“As the mortgage industry continues to strengthen post COVID-19, non-QM will keep expanding as a key market sector, and we plan to continue being at the forefront of that growth,” says Mike Fierman, managing partner and co-CEO for Angel Oak Companies. “The pandemic taught our firm so much and we have truly emerged as a better company. Crossing the $10 billion milestone is a testament to our success and commitment in this space.”
Angel Oak’s record growth in the non-QM space comes from the firm’s multifaceted approach to speed, quality assurance and technology. As leaders in the non-QM sector, Angel Oak has strived to make the process simpler for brokers and borrowers alike. In doing so, Angel Oak has implemented technology systems that make the non-QM process comparable to the agency loan process. Blend, QuickQuote, the Bank Statement Review team and other technologies and processes have enabled customers and brokers to enjoy a seamless experience and propelled Angel Oak to more than $10 billion in non-QM origination.
Combined, Angel Oak achieved over $700 million in non-QM origination over June and July of 2021. Angel Oak surpassed June and July 2019 volume levels by 38% collectively. Angel Oak lending companies have returned to pre-pandemic-level monthly volumes. In tandem with this growth, the lending platform has increased their head count by 67% YoY across a variety of roles.
To help accommodate greater demand, Angel Oak has rapidly expanded its sales function. The Angel Oak Home Loans team has opened 17 new retail branches nationwide since the start of 2020. This flurry of openings brings the total number of retail offices to 44, enriching the firm’s leadership presence across various regional markets. The Angel Oak Mortgage Solutions team has added over 30 account executives nationwide this year alone to help educate brokers and correspondents on the power of non-QM.
“Our success would not have been possible without the skills and dedication of our growing team,” adds Fierman. “The mortgage industry, at its core, is a business about people — providing homeowners with the right solutions, connecting originators with new opportunities and ensuring that the Angel Oak mission is present in all of our team’s practices. Our team has paved new roads for non-QM, which has helped us cross the $10 billion threshold and will continue to support our company moving forward. We fully expect to continue this momentum and foresee August being our largest month ever to date.”
To learn more about Angel Oak’s lending services, please visit www.angeloakms.com or www.angeloakhomeloans.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 has pioneered a fresh, commonsense approach to overcoming today’s mortgage-lending challenges. The team operates in 44 states, with a breadth of non-QM products that expands the pool of borrowers, 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, Angel Oak Home Loans and the Angel Oak family of companies specialize in innovative alternative lending options. Its 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 an exceptional client experience.
For more information, please visit www.angeloakhomeloans.com.
