Angel Oak Announces Fourth Securitization for the Year


Angel Oak Capital recently announced its fourth securitization of 2024, bringing its total issuance for the year to approximately $1.4 billion.

The four securitizations have a combined average FICO score of 741, an average loan-to-value ratio of 71.4% and a debt-to-income ratio of 32.4%.

The senior tranche for all four securitizations received a rating of AAA by Fitch.

Amid high interest rates and economic volatility, the firm’s innovative non-QM mortgage products continue to attract institutional investors and support borrowers with flexible financing solutions.

“The execution of our fourth securitization this year is indicative of our firm’s broader success in scaling growth and delivering investment solutions that cater to market demand,” says Namit Sinha, chief investment officer at Angel Oak Capital, in a release. “Institutional investors continue to see opportunities to invest in the residential mortgage credit space through Angel Oak, due to our consistent quality, vertically integrated approach and tenured team expertise that has proven to adapt successfully to changing market dynamics.”

Growth of the firm’s affiliated mortgage origination arm, Angel Oak Mortgage Solutions, which has contributed approximately 72% of the loans to this year’s securitizations, has spearheaded the success and breadth of Angel Oak Capital’s securitizations.

Angel Oak Mortgage Solutions has expanded significantly in both origination volume and talent acquisition. The firm’s year-over-year origination volume for the firm grew over 80% from 2023. To supplement this increase in loans, the firm increased its account executive team by nearly 25% in the same period.

“Despite the new normal of higher rates, we continue to experience incredible growth as partners we work with find our non-qualified mortgage products to be a great fit for borrowers seeking flexible mortgage options,” says Tom Hutchens, executive vice president of production for Angel Oak Mortgage Solutions. “Our extensive experience in non-QM products allows us to serve a wider array of borrowers and find niche opportunities despite strained market conditions. We’ve already seen significant traction with our new Bank Statement HELOC product introduced earlier this year, and we look forward to building off of the momentum we’ve achieved in the first four months of 2024.”

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