ATLANTA–(BUSINESS WIRE)–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. The enhanced channel will allow Angel Oak to further its
dominance of the non-QM market. Over the past few years, Angel Oak has
consistently originated more non-QM loans than any other non-bank
lender. With the enhanced correspondent channel, the firm is positioned
to nearly double its production this year.
Angel Oak Correspondent furthers Angel Oak’s initiative to set the
industry standard for innovation in the non-QM market. Following its
most successful Q1 ever, with non-QM originations up 82% from the same
period a year ago, the company is now exploring new frontiers. Angel Oak
Correspondent brings non-QM products to lenders all across the industry.
“Angel Oak continues to pave the way for non-QM lending,” says Tom
Hutchens, EVP of Production at Angel Oak Mortgage Solutions. “More
national lenders are catching on to the non-QM trend we’ve seen all
along. Our correspondent team brings a new level of expertise to keep us
ahead of the competition.”
Angel Oak Correspondent Lending welcomes four new executives to lead
this initiative:
- Andy Steben, Senior Vice President of Correspondent Lending
-
Dave Ryan, Vice President of Operations and Credit, Correspondent
Lending - Dan Bayer, Vice President of Correspondent Sales
- Bill Franks, Director of Training
These four executives bring 68 years of combined mortgage industry
experience to Angel Oak Correspondent. That experience is already being
leveraged in the development of new technology and infrastructure that
enable Angel Oak to deliver an unmatched level of customer service.
In addition, Angel Oak Correspondent is launching a new website, angeloakcorr.com.
Future expansion of the site will include a version of its proprietary
QuickQuote engine specifically for correspondents as well as a portal
for marketing materials.
“The Angel Oak family of companies has industry-leading experience in
every aspect of the non-agency market,” says Andy Steben, Senior Vice
President of Correspondent Lending. “We integrated the best aspects of
our non-QM underwriting, lending and securitization practices to provide
a similar opportunity for correspondents.”
Angel Oak has a proven track record of success in the non-QM industry.
Its vertical integration in the lending, origination and securitization
space provides a unique perspective as the company refocuses on
underserved areas of the market. In Q1 of 2019, the Angel Oak lending
entities originated a record $563 million. The Angel Oak lending
platform and its affiliates also hired 70 new employees during this
quarter, bringing its total workforce to 675. Angel Oak Correspondent
will be a catalyst for significant growth in 2019 and beyond.
About Angel Oak Mortgage Solutions
Angel Oak Mortgage Solutions, LLC, a leader in alternative lending
solutions, is the top wholesale and correspondent provider of
non-qualified mortgage loans. Angel Oak’s team of mortgage experts
continues to pioneer a fresh, common-sense approach to overcoming
today’s mortgage lending challenges. Operating in 44 states, their
breadth of non-agency products 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.angeloakcorr.com.
Contacts
Media Contact:
Gregory FCA for Angel Oak Companies
Alex
Nye, 610-228-2287
[email protected]
or
Company
Contact:
Angel Oak Companies
Steven Winokur, 404-637-0393
Chief
Marketing Officer
[email protected]
