Angel Oak Mortgage Solutions [1], LLC is enhancing its correspondent lending channel with new technology, infrastructure and high-level talent that reflect the stunning growth in the non-qualified mortgage marketplace. The company has officially branded this channel as Angel Oak Correspondent to solidify its position in the correspondent lending space. The enhanced channel will allow Angel Oak to further its dominance of the non-QM market. Over the past few years, Angel Oak has consistently originated more non-QM loans than any other non-bank lender. With the enhanced correspondent channel, the firm is positioned to nearly double its production this year.
“Angel Oak continues to pave the way for non-QM lending,” says Tom Hutchens, EVP of Production at Angel Oak Mortgage Solutions. “More national lenders are catching on to the non-QM trend we’ve seen all along. Our correspondent team brings a new level of expertise to keep us ahead of the competition.”
Angel Oak Correspondent Lending welcomes four new executives to lead this initiative:
- Andy Steben, Senior Vice President of Correspondent Lending
- Dave Ryan, Vice President of Operations and Credit, Correspondent Lending
- Dan Bayer, Vice President of Correspondent Sales
- Bill Franks, Director of Training
These four executives bring 68 years of combined mortgage industry experience to Angel Oak Correspondent.
In addition, Angel Oak Correspondent is launching a new website, angeloakcorr.com [2]. Future expansion of the site will include a version of its proprietary QuickQuote engine specifically for correspondents as well as a portal for marketing materials.
“The Angel Oak family of companies has industry-leading experience in every aspect of the non-agency market,” says Andy Steben, Senior Vice President of Correspondent Lending. “We integrated the best aspects of our non-QM underwriting, lending and securitization practices to provide a similar opportunity for correspondents.”