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Working to Improve Non-QM

UnderwritingAngel Oak Mortgage Solutions, LLC [1], a non-QM wholesale and correspondent lender, announced the continued expansion and improvement of its non-QM product offerings since the COVID-19 crisis began. Today’s non-QM products are designed to help borrowers, brokers, private investors, and the real estate community as a whole. Angel Oak returned to the non-QM marketplace over a month ago with three distinct product offerings, including a Bank Statement program designed with the self-employed borrower in mind, an Investor Cash Flow (DSCR) for property investors, and a Platinum Jumbo product. Each offering has been improved and expanded, as detailed below:

1. Bank Statement loans:

2. Investor Cash Flow (DSCR):

3. Platinum Jumbo:

In addition, Angel Oak Capital Advisors [2] has completed two non-QM securitizations since the COVID-19 crisis began, totaling $876 million and bringing their overall issuance since 2017 to $6.3 billion.

“The success of our recent securitizations demonstrates the power of the vertically integrated model we’ve created, providing investors with more transparency and confidence,” said Mike Fierman, Co-CEO of Angel Oak Companies. “On the origination side, our belief in the demand for non-QM products has been confirmed by the incredible reception from originators. We have seen tremendous interest in our non-QM products even in this low-interest-rate environment. We anticipate that increased demand will continue as we make further improvements and look to add new products over the next six to 12 months.”

To help educate the real estate community, Angel Oak Mortgage Solutions is hosting monthly webinars about “Today’s Non-QM.” June’s webinar reached nearly 1,000 registrants. This month’s webinar is scheduled for July 9 at 1:00 p.m. EDT/10:00 a.m. PDT and will feature a Town Hall format, with topics ranging from capital markets to origination strategies and product details. Originators can register for this webinar here [3].