Angel Oak debuts rated non-prime RMBS

house right size
By Sam Kerr
02 Mar 2017

Angel Oak, an originator of non-prime and non-qualified mortgages, is marketing its first rated non-QM deal, a $146.47m transaction backed by 529 loans with a weighted average borrowers credit score of 698.

Angel Oak has been looking to issue a rated offering for some time, and is set to become a more programmatic issuer of non-prime and non-QM RMBS, sources tell GlobalCapital. Angel Oak has issued two securitizations of non-QM loans, the most recent being a deal last August.

The deal is ...

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