Angel Oak Mortgage Solutions LLC is looking to double its origination of home loans that don’t meet Qualified Mortgage requirements, and it is turning to the correspondent channel to achieve this.
Last year, the Atlanta-based mortgage banking firm generated $1.2 billion in non-QM production, according to an announcement Monday.
This year, entities associated with Angel Oak are expected to originated double the amount of 2017 production. It is already on its way to this as first-quarter lending was up 62 percent from a year earlier.
Source: Mortgage Daily