Eye on the Industry: $346M in Non-QM Loans Composed

 

Angel Oak completed a $346 million securitization composed of Non-QM loans primarily originated by its affiliated mortgage lenders Angel Oak Mortgage Solutions. 

“AOMT 2020-2 is a great accomplishment and a testament to the skill and capabilities of our team as we continue to deliver securitizations to our strong investor base,” said Namit Sinha, Chief Investment Officer of Private Strategies at Angel Oak. “This transaction and investor appetite reinforce Angel Oak’s ability to offer innovative investment solutions and execute securitizations in a challenging environment.”

AOMT 2020-2 is Angel Oak’s second securitization this year and marks the firm's 16th non-QM securitization since inception, bringing its total issuance to approximately $5.7 billion. The securitization consists of 827 loans, 84% of which were originated by Angel Oak affiliates.

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WFG Lender Services, a Williston Financial Group company, announced that Jodi Bell has joined the company as VP of National Business Development for the company’s Lender Services organization, expanding the company’s presence in and commitment to the mortgage lending market.

WFG Lender Services provides services and technology solutions that enable lenders to take time and cost out of mortgage transactions, including comprehensive title and closing services. In her new role, Bell, who is based in Dallas, will be responsible for building and maintaining client relationships among the nation’s top financial institutions and mortgage lenders. Prior to joining WFG, Bell served as VP, National Sales Executive for a national settlement services provider.

“Jodi is a great fit for WFG," said Dan Bailey, SVP at WFG Lender Services, in announcing the appointment. "She is known throughout the industry for her commitment to both customer service and having an operational understanding of the products and services she sells. It's a way of ensuring she articulates specific benefits for each customer as a trusted resource.” 

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Gateway Mortgage Group, a division of Gateway First Bank, has promoted Tina Knaut to Regional Vice President of the Southwest region of the United States. In this role, Knaut will oversee all Gateway mortgage loan centers in Arizona, Colorado, southern Nevada, New Mexico, and Wyoming.

“Tina’s motivation to serve others daily has been a key contribution to the core culture at Gateway,” said Scott Gesell, CEO of Gateway. “She has assembled great teams and created an environment for them to thrive, not only professionally but also personally. She measures success by the lives she touches and not by profits, and that makes her a great fit for a leadership role at Gateway. We look forward to the positive impact she will have.”