Angel Oak securitizes $300 million in non-QM loans

By: ameer@trustedteam.com

Angel Oak Mortgage REIT, a real estate finance company specializing in non-QM loans, has priced its latest securitization deal (AOMT 2024-4), backed by approximately $300 million in residential mortgage loans.

The securitization covers 701 non-QM loans with a total principal balance of $299.8 million. These loans have a weighted average loan coupon of 7.4%, an original loan-to-value ratio of 69.8%, and a weighted average original FICO score of 748. The senior tranche of the securitization received a AAA rating from Fitch Ratings.

“AOMT 2024-4, our first standalone securitization of the year, is expected to drive meaningful earnings growth and yield expansion in both the near- and long-term while further improving the positioning of our portfolio to perform in changing rate environments,” said Sreeni Prabhu, chief executive officer and president of Angel Oak Mortgage REIT.

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