Angel Oak Home Loans [1] has announced the opening of four new branches in Waynesboro, Georgia; Annapolis, Maryland; Durham, North Carolina; and Houston, Texas. These branch launches come on the heels of several other new Angel Oak office openings, bringing the firm’s total number of offices to 40 across 35 states. Angel Oak’s expansion will continue in the near future with a new branch coming to Las Vegas.
“We’re pleased to deepen our roots across the country with this series of branch openings,” said Mac Cregger [2], Angel Oak SVP and Divisional Manager. “We’ve seen an uptick in demand and the pace at which homes are being sold. There has also been a strong appetite for ways to streamline the homebuying process, including options that could enable the entire process to be conducted remotely. Angel Oak’s unique products and resources deliver fast results successfully, turning prospective homebuyers into homeowners.”
All four of the states boasting new Angel Oak branches have shown significant growth over the past year. The Houston and Annapolis housing markets, in particular, have seen increases of 69% and 44%, respectively, in homes sold year over year, according to a report from Redfin. Additionally, the overall U.S. housing market has been characterized by steady demand and resiliency during the same time period, despite some volatile economic conditions.
“Our rapidly expanding national presence has been fueled by the momentous growth of the housing market this year,” said Trent Reed [3], Angel Oak SVP and Divisional Manager. “We see tremendous potential to continue our growth within new markets across the U.S. and meet homebuyers’ demand for flexible, personalized home loan products.”
In addition to the continued opening of new branches nationwide, Angel Oak recently filed to go public [4], however, the size and pricing of the initial public offering (IPO) were not listed in the SEC filing.