Angel Oak Mortgage Solutions announced a new president and two more executive promotions. Tom Hutchens, formerly Angel Oak’s EVP of Production, will now head the lender’s Mortgage Solutions division. Hutchens has devoted more than a decade to Angel Oak, serving as EVP since 2014. Prior to joining the company, he served as president of Novo…
Non-QM leader Angel Oak Mortgage Solutions released a new HELOC for the self-employed. The Bank Statement HELOC allows qualified borrowers to retain their first mortgage while accessing their homes’ equity. It uses trailing 12- or 24-month bank statements as the deciding factor and provides a line of credit with no restrictions on usage. This offer…
Loosening lending standards are making it easier than ever for gig workers to finance homes. These workers often make enough money to qualify for a loan, but often have a difficult time proving that to lenders. “It is a phenomenon with this gig economy where people can drop in and have an Amazon play, and…
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….
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…
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…
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