Angel Oak plots expansion in non-QM correspondent lending

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 · In the first quarter 2019, Angel Oak Companies (angel oak home loans and angel oak mortgage solutions) reported originating a record $563 million. This represents an astounding 82 percent increase. Loans that do not meet the complex rules that are associated with QM are considered Non-QM loans or portfolio loans.

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Brena Swanson.Angel Oak plots expansion in non-QM correspondent lending Stocks fall after second taper announcement jobless claims hit lowest level in 2 months fannie mae:

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.

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.

And now, the company is set to grow again. Angel Oak announced this week that it is planning an expansion of its correspondent lending channel. After announcing late Monday that it intends to acquire.

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Angel Oak plots expansion in non-QM correspondent lending May 14, 2019 / in Uncategorized / by Lindsay 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 box, has grown its business significantly over the last several years.

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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 mortgage marketplace. The company has officially branded this channel as Angel Oak Correspondent to solidify its position in the correspondent lending space.

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.

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