Angel Oak Companies continues its stunning growth in Q3 2019 as affiliates funded a company-record $891 million in non-QM originations. This milestone represents a 31% increase in origination volume over Q2 2019 and a 41% gain compared with Q3 2018. Led by affiliated lenders Angel Oak Mortgage Solutions, LLC, and Angel Oak Home Loans, LLC, this brings the total year-to-date non-QM volume to $2.1 billion, a 52% increase over the first three quarters of 2018.
Along with the record volume, both lenders have grown their presence. Angel Oak Home Loans added 15 new branches this year, for a total of 33 branches servicing 18 states. Angel Oak Mortgage Solutions tripled the size of its Dallas facility this year to accommodate employment growth, expanded its Atlanta headquarters and solidified its correspondent lending channel, furthering its initiative to set the industry standard for innovation in the non-QM market.
"The growth in all facets of our business serves as a testament to the future of mortgage lending and Angel Oak's leadership in the space," said Mike Fierman, co-CEO of Angel Oak Companies. "Angel Oak has led the revitalization of quality nonprime lending through a focused approach to making the process as easy and efficient as possible. The service our incredible team provides is the reason our success continues, and we are looking forward to the future."
Angel Oak Capital Advisors, LLC, the investment management affiliate of Angel Oak Companies, ended Q3 with approximately $10.6 billion in assets under management (AUM) after crossing the $10 billion AUM mark in June. During this same period, it completed a $558 million non-QM securitization, its fourth securitization for 2019, bringing the firm's total year-to-date issuance to approximately $2.2 billion. Since 2015, Angel Oak Capital Advisors has completed 12 non-QM securitizations totaling approximately $4.1 billion, backed largely by mortgages originated through its affiliated mortgage lenders.
"Angel Oak's securitizations have established significant investor demand because of our frequent issuance, execution and consistent quality," said Sreeni Prabhu, Angel Oak Capital Advisors co-CEO and CIO. "Our vertically integrated model is a pillar of this success, as we continue to set the standard in all areas of the non-QM industry from origination to securitization."
Furthermore, the Atlanta Business Chronicle ranked Angel Oak Capital Advisors as the seventh-largest money manager in Atlanta based on discretionary AUM, and the third-largest when ranked by fixed-income assets.
About Angel Oak Companies, LLC
Angel Oak Companies is an industry leader in delivering innovative mortgage credit solutions. Through its integrated credit and investment platform, Angel Oak Companies delivers solutions across asset management, lending and capital markets.
For more information, please visit www.angeloakcompanies.com.
About Angel Oak Mortgage Solutions, LLC
Angel Oak Mortgage Solutions, a leader in alternative lending solutions, is the nation's top wholesale and correspondent provider of nonqualified mortgage loans. Its team of mortgage experts continues to pioneer a fresh, common-sense approach to overcoming today's mortgage lending challenges. Operating in 44 states, the team provides a breadth of non-QM products that expands the pool of borrowers by offering partners more opportunities to grow their business 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.
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 investments, with a specialization in mortgage-backed securities and other areas of structured and corporate credit.
As of September 30, 2019, Angel Oak Capital Advisors had approximately $10.6 billion in AUM through a combination of public funds, closed-end funds, private funds and separately managed accounts.
For more information, please visit www.angeloakcapital.com.
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