Angel Oak Opens New Branches In Carolinas, California

Non-QM lender Angel Oak Home Loans has opened five new branches in three states, the company announced. South Carolina now has three additional branches, one in Charleston, led by Ed Powell, SVP of Angel Oak Home Loans’ Consumer Direct Division; one in Columbia, led by Drew Church; and one in Cheraw, also headed by Church. The other two locations are in San Marcos, CA, led by Sean Casey, SVP and Western Regional Sales Manager, and Jacksonville, North Carolina, led by Brian Mitchell, Regional Sales Manager. Angel Oak now has 52 offices across 43 states. These five new branches add to a time of growth for the company, which opened four new offices just last month. “Angel Oak is well equipped…

Steven Valladares Named Angel Oak VP Of Correspondent Sales

Angel Oak Home Loans, a full-service mortgage lender known for its non-QM offerings, has hired Steven Valladares, CMB, as vice president of correspondent sales. “I am excited to be part of the growing sales team at Angel Oak, where we will continue to provide excellent support to our lender partners, especially in this unique market environment,” he said.  “Angel Oak’s leadership in the non-qualified mortgage market is indicative of what’s to come as we expand in the agency space as well. Angel Oak will act as a multifaceted correspondent capable of satisfying the needs of the massive agency market as well as non-QM.” Valladares brings three decades of experience to the company, with twenty years of direct sales experience focused…

Hutchens Hints At New Non-QM Tech

Angel Oak Mortgage Solutions is focusing on streamlining the process of closing non-qualifying mortgage (non-QM) loans so that it more closely resembles closing an agency loan. “It’s a priority for us,” Angel Oak executive vice president of production Tom Hutchens told the MPA. Angel Oak is reportedly investing in technologies to automate more of the non-QM underwriting process. Non-QM loans are still mostly manually underwritten, while agency lending is almost fully automated. “You think of Rocket Mortgage, where you ‘click a button, get a mortgage,’ and it has almost become the industry norm. It’s not quite that easy. It’s nice to at least make it look like it is,” he said. Non-QMs are sometimes associated with the financial crash of 2008,…