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Angel Oak Mortgage Solutions taps into HELOCs

Housing Wire

Atlanta-based nonqualified mortgage (non-QM) lender Angel Oak Mortgage Solutions is tapping into the home equity line of credit (HELOC) market amid elevated equity levels. Angel Oak’s bank-statement HELOC allows qualified, self-employed borrowers to leverage their home equity while maintaining their primary mortgage.

Mortgage 441
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Angel Oak Home Loans cuts 15% of its workforce

Housing Wire

Atlanta-based Angel Oak Companies instituted a round of layoffs at its retail mortgage company on Friday, not long after trimming the workforce in its wholesale and correspondent business. According to the mortgage data platform Modex , Angel Oak Home Loans originated a total volume of $2.44 was purchases.

Retail 397
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Angel Oak confronts the challenges of market volatility, fast-rising rates

Housing Wire

Angel Oak Cos., through its Angel Oak Mortgage Trust conduit, recently unveiled its latest private-label securitization (PLS) offering — a deal slated to close in early August backed by 788 predominately non-QM loans valued at $362 million. Counting this latest offering, Angel Oak Cos. AOMR is part of an Angel Oak Cos.

Marketing 384
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Non-QM lender Angel Oak Mortgage Solutions cuts 20% of staff

Housing Wire

Non-QM specialist Angel Oak Mortgage Solutions is the latest player in the space to cut a sizable chunk of its workforce amidst widespread market volatility. Angel Oak Mortgage Solutions is the among the largest nonbank originators of non-QM and specialized mortgage solutions in the country, working through brokers and correspondents.

Mortgage 370
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Angel Oak Home Loans announces exit from retail channel

Housing Wire

Angel Oak Home Loans will exit its retail distribution channel following a sale of its retail offices to an unknown lender and servicer. The transaction includes an acquisition of Angel Oak Home Loans’ brick-and-mortar retail offices and associated salesforce.”. Details of the deal were not disclosed. . The lender originated $2.32

Retail 306
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Angel Oak launches 6th securitization deal this year

Housing Wire

Atlanta-based non-QM lender Angel Oak Cos. The non-QM loans in Angel Oak’s six PLS offerings year to date, on average, are at least 1 percentage point below that prime agency rate. Through mid-September of this year, Angel Oak has launched a total of six non-QM PLS offerings involving about 5,000 loans valued at $2.5

Lending 397
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In volatile market, Angel Oak sets 30-day rate lock period

Housing Wire

Atlanta-based non-QM wholesale lender Angel Oak Mortgage Solutions has updated its rate lock policy to a 30-day lock period due to the fast-rising interest rates landscape. The post In volatile market, Angel Oak sets 30-day rate lock period appeared first on HousingWire.

Marketing 410