Angel Oak plots expansion in non-QM correspondent lending

Angel Oak plots expansion in non-QM correspondent lending

Angel Oak Companies set a record for non-qualified mortgage (non-QM) lending in Q3 2018. Angel Oak Companies Once Again Sets the Pace in Non-QM Market Record-setting growth continues with more.

This type of lending is the service of providing funding for borrowers from the lender’s own funds and name. Lenders also underwrite the loan. Branded as Angel Oak Correspondent, this arm will enable the mortgage company to establish its hold over the non-QM market.

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Angel Oak Home Loans, the retail arm of the Angel Oak Companies, which deal in non-qualified mortgage (non-QM) products. production and charged with continuing the expansion of Angel Oak’s.

Angel Oak Companies set a record for non-qualified mortgage (non-QM) lending in Q3 2018 as affiliated lenders Angel Oak Mortgage Solutions LLC, Angel Oak Home Loans LLC, and Angel Oak prime bridge llc combined for over $664 million in non-QM originations. That figure represents a 30-percent increase in volume from Q2 2018 and a 153-percent.

The company has officially branded this channel as Angel Oak Correspondent to solidify its position in the correspondent lending space. The enhanced channel will allow Angel Oak to further its.

Angel Oak Correspondent brings non-QM products to lenders all across the industry. "Angel Oak continues to pave the way for non-QM lending," says Tom Hutchens, EVP of Production at Angel Oak Mortgage Solutions. "More national lenders are catching on to the non-QM trend we’ve seen all along.

In Q1 of 2019, the Angel Oak lending entities originated a record $563 million. The Angel Oak lending platform and its affiliates also hired 70 new employees during this quarter, bringing its total workforce to 675. Angel Oak Correspondent will be a catalyst for significant growth in 2019 and beyond.

Angel Oak Mortgage Solutions reports that it is enhancing its correspondent lending channel with new technology, infrastructure and high-level talent that reflect the growth in the non-qualified.

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