Suddenly, Angel Oak is No Longer Talking About its Nonprime MBS, Neither is Nomura. What Happened?
September 18, 2015
Last week, Angel Oak Mortgage Solutions was slated to issue a roughly $150 million security backed by nonprime mortgages, an event that promised great things for both the company and the non-agency market. But then nothing happened, or so it appears. Two weeks after confirming to Inside MBS & ABS and another news organization that a new nonprime security was definitely ready to price, the company – and its underwriter, Nomura Securities – has suddenly stopped talking about the deal, both publicly and privately. One source who has held meetings with executives at both firms said...