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GC Asia
Angel Oak debuts rated non-prime RMBS
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.
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