Angel Oak Capital Completes Its 22nd Non-QM Securitization Totaling $275 Million

 

We are excited to announce that Angel Oak Capital just issued a $275 million securitization rated by Fitch with the senior A1 bond rated triple A.

Since 2015, Angel Oak has issued 22 non-QM securitizations totaling approximately $7.7 billion.

Investor confidence in non-QM remains strong due to strong performance and demand in the market. This latest Fitch rated securitization is great news for Angel Oak as we continue to grow.

 

The details of this securitization are impressive:

  • All bonds were oversubscribed in the deal and the execution on AOMT 2021-1 resulted in the lowest cost of debt (~1.0%) we have seen since the inception of our program.
  • The collateral pool had a weighted average FICO of 743, and a weighted average LTV of 76%.
  • The transaction was predominantly backed by collateral that was originated after the onset of the pandemic and it was the first AOMT deal to include loans originated after Q1 2020.
  • The transaction was well diversified geographically with the five largest states being: FL (29%), CA (26%), TX (10%), GA (8%), and NJ (3%).