Angel Oak Mortgage closes $537 million non-QM securitization

Non-agency lender Angel Oak Mortgage has announced closing a $537.6 million non-QM securitization, marking the company’s eighth securitization and its third sole securitization since its public debut.

The $537.6 million securitization is backed by a pool of 1,138 residential mortgage loans with an average credit score of 744, a loan-to-value ratio of 70.6%, and a debt-to-income ratio of 32.7%. Since its initial public offering last June, Angel Oak has closed over $1.2 billion in non-QM loans.

Angel Oak Mortgage chief financial officer Brandon Filson said they are “very pleased with the execution of this securitization” given the current market conditions. Angel Oak Mortgage’s affiliated mortgage companies recently announced that they expect to produce over $7.5 billion in non-QM loans in 2022, compared to $3.9 billion originated in 2021.