Angel Oak Issues First Securitization of 2023

Angel Oak’s return to the securitization market reflects firm’s commitment to the non-agency RMBS space

Angel Oak Capital Advisors, LLC (“Angel Oak”) today announced the issuance of AOMT 2023-1, an approximately $580.5 million securitization backed in part by loans originated by Angel Oak affiliated lending companies. The senior tranche of the AOMT 2023-1 received a AAA rating from Fitch Ratings.

“We’re very pleased with the execution of AOMT 2023-1 as we return to the market in the new year,” says Namit Sinha, Chief Investment Officer of Private Strategies at Angel Oak Capital Advisors. “Strong institutional investor interest and attractive spread tightening are supportive of the overall non-agency RMBS market that we believe could see a resurgence in 2023. We intend to play a larger role in this space in the coming months, depending on market conditions.”

The securitization is made up of 1,073 loans and includes loans sold by Angel Oak Mortgage, Inc. (NYSE: AOMR), the Angel Oak-affiliated, publicly traded REIT. The transaction brings Angel Oak’s total AOMT issuance to over $13 billion as it continues to serve as a leader in the non-agency securitization market.

At deal closing, AOMT 2023-1 consisted of 1,073 loans. The securitization has an average original credit score of 736, an original average loan-to-value ratio of 71.1%, and a non-zero debt-to-income ratio of 32.2%.

About Angel Oak Capital Advisors, LLC

Angel Oak is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, Angel Oak seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit.

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