Angel Oak plots expansion in non-QM correspondent lending – angel oak companies, an investment management firm that focuses on mortgage credit and made its name providing residential mortgages that don’t fit into the Qualified Mortgage. have seen.
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angel oak mortgage Solutions, LLC is enhancing its correspondent lending channel with new technology, infrastructure and high-level talent that reflect the stunning growth in the non-qualified.
Overall, the Angel Oak companies have seen substantial growth in non-QM lending recently. In the first quarter, Angel Oak’s non-QM originations were up 82% from the same period a year ago.
Angel Oak’s successful start to the first quarter of 2018 includes a record of $340 million in non-qualified mortgage (non-QM) originations. Part of this success came from expansion of the.
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Non-QM lender Angel Oak Mortgage Solutions announced on Monday it is boosting its efforts in non-QM correspondent lending following a rise in demand for non-qualified mortgage products.
Sean M. Marr is Angel Oak Mortgage Solutions’ new director of correspondent lending, according to a news release. Marr, a 23-year veteran in correspondent lending, worked for Freedom Mortgage.
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"Angel Oak continues to pave the way for non-QM lending," said Tom Hutchens, executive vice president of production at Angel Oak Mortgage Solutions. "More national lenders are catching on to the non-QM trend we’ve seen all along. Our correspondent team brings a new level of expertise to keep us ahead of the competition."
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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.
Steven Schwalb, managing partner of Angel Oak’s lending platform, for example, believes that they’re on the right track in helping more people get access to homeownership. "Originating $1 billion in non-QM loans is an important milestone that demonstrates the market’s confidence in these products and our work in the non-QM space," he.
Non-QM Drives Growth at Angel Oak. Expansion reported. Sept. 26, 2017. By Mortgage Daily staff. Rapid growth in the origination of home loans that don’t meet the requirements for Qualified Mortgages is driving an expansion at Angel Oak Companies. The Atlanta-based company reported Tuesday that its businesses are on track to collectively originate more than $1 billion in non-QM loans this year.