Non-QM lender Angel Oak Mortgage Options introduced on Monday it’s boosting its efforts in non-QM correspondent lending following an increase in demand for non-qualified mortgage merchandise.
The corporate defined in a press launch that given its place within the non-QM market, and its alignment with affiliated firm Angel Oak Capital Advisors, it’s uniquely positioned to steer the revival of correspondent lending. By way of correspondent relationships, Angel Oak Mortgage Options expects vital progress on this 12 months and past, it stated.
“From the underwriting, lending, and securitization processes, the Angel Oak household of corporations has industry-leading expertise in each side of the non-agency market,” defined Tom Hutchens, senior vice chairman of gross sales and advertising and marketing for Angel Oak Mortgage Options. “This distinct company construction, our years of expertise with non-agency merchandise and our potential to securitize our manufacturing, make Angel Oak Mortgage Options a great accomplice for lenders looking for a non-agency correspondent relationship.”
“Right now, non-QM originations complete roughly $20 billion per 12 months, however we consider the non-QM market will develop to over $100 billion within the coming years,” Hutchens added. “We’re seeing a number of demand within the non-Company market particularly as extra nationwide lenders enter the house after seeing the worth these merchandise deliver to the desk. Angel Oak Mortgage Options is now ready to meet this demand even higher by means of correspondent relationships with regional and nationwide lenders.”
In 2017, the corporate stated its lending entities originated $1.2 billion in non-QM loans by means of its mortgage platform and it anticipates doubling that quantity in 2018. Angel Oak Firms, which incorporates Angel Oak Mortgage Options, Angel Oak House Loans, and Angel Oak Prime Bridge, reported a record-breaking first quarter in 2018.