Angel Oaks’ Plan to Securitize Nonprime Mortgages Appears to Be on Hold; Whole Loan Sales Instead?
June 12, 2015
Angel Oak Mortgage Solutions was hoping to make a big splash this year by being the first lender to securitize newly originated nonprime mortgages since the housing bust. It now appears those plans are on hold. According to officials who said they have been briefed on the situation, the Atlanta-based Angel Oak is now shopping around a roughly $100 million package of nonprime loans, many of which were originated over the past year. One investor said...