Angel Oak Home Loans [1] has announced the opening of two new branches located in Centennial, Colorado, and Natchez, Mississippi. Leading the two new branches will be Michael Chabot [2], VP, Licensed Area Manager at Angel Oak Home Loans, as head of the new Colorado branch; and Britni Gwin [3] as Manage of the Mississippi office. The opening of these two branches are the firm's sixth branch openings in the span of 30 days.
“I’m thrilled to help direct Angel Oak Home Loans’ rapid growth in Colorado by bringing a suite of innovative loan products to more borrowers in the area,” said Chabot. “In a hot housing market like this one, offering traditional loan products and a portfolio of distinct programs enables us to help a larger population of people, including those who may not have thought homeownership was a possibility. We pride ourselves on our ability to quickly meet each homebuyer’s financing needs based on their specific goals and timeline.”
Chabot is also launching a podcast called “Mortgage Map Podcast by Angel Oak Home Loans,” which will focus on discussing mortgage events important to industry professionals and borrowers, as well as other homebuying related topics.
“We take into account every client’s unique situation, and our products aim to ensure customer satisfaction,” said Mac Cregger [4], SVP and Divisional Manager at Angel Oak. “Angel Oak’s expansion to Centennial and Natchez allows us to reach a new array of clients and emboldens our vision of making homeownership a reality for buyers far and wide across the United States.”
Angel Oak Mortgage recently announced the pricing of its initial public offering (IPO) [5] of 7,200,000 shares of its common stock at $19 per share. Shares of the company’s common stock are trading on the New York Stock Exchange (NYSE) under the symbol “AOMR.”
In addition, concurrently with the completion of the IPO, Angel Oak will sell 2,105,263 shares of its common stock to CPPIB Credit Investments Inc. in a concurrent private placement at $19 per share.
Angel Oak intends to use the net proceeds from the IPO and the private placement to acquire non-QM loans and other target assets primarily sourced from affiliates of Angel Oak Capital Advisors LLC [6], or other target assets through the secondary market in a manner consistent with the company’s strategy and investment guidelines described in its prospectus, and for general corporate purposes.