It's the firm's fourth non-prime securitization since 2015
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Angel Oak Capital Advisors has completed a $210.45-million securitization of non-prime residential mortgages.
The securitization was backed by mortgages sources through Angel Oak Mortgage Solutions, Angel Oak Home Loans and Angel Oak Prime Bridge, the firm’s affiliated mortgage lenders.
This is Angel Oak’s fourth securitization since 2015, making more than $630 million in total securitized residential mortgages, according to a news release.
“We has solid execution due to the large securitized investor following that we have developed over the last two years,” said Angel Oak co-CEO and CIO Sreeni Prabhu. “In fact, this was the highest execution in the non-prime market to date, furthering our brand recognition and leadership in the non-QM securitization space.
“We believe investors like Angel Oak’s vertically integrated issuer model,” Prabhu said. “This is unique in the marketplace and offers them a 'pure play' exposure to Angel Oak’s origination and underwriting capabilities.”
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The securitization was backed by mortgages sources through Angel Oak Mortgage Solutions, Angel Oak Home Loans and Angel Oak Prime Bridge, the firm’s affiliated mortgage lenders.
This is Angel Oak’s fourth securitization since 2015, making more than $630 million in total securitized residential mortgages, according to a news release.
“We has solid execution due to the large securitized investor following that we have developed over the last two years,” said Angel Oak co-CEO and CIO Sreeni Prabhu. “In fact, this was the highest execution in the non-prime market to date, furthering our brand recognition and leadership in the non-QM securitization space.
“We believe investors like Angel Oak’s vertically integrated issuer model,” Prabhu said. “This is unique in the marketplace and offers them a 'pure play' exposure to Angel Oak’s origination and underwriting capabilities.”
Related stories:
Kroll issues preliminary ratings on new non-prime securitization
Angel Oak Mortgage welcomes new director of correspondent lending
