“[This securitization] builds upon the positive momentum of June’s AOMT 2023-4 securitization, the earnings impact of which had not yet been demonstrated in our Q2 results,” said Sreeni Prabhu, president and CEO of Angel Oak Mortgage REIT. “Between these two securitizations, we have released over $45 million in capital for new loan purchases and reduced over $260 million of debt on our highest-cost loan financing facility, which will drive a meaningful positive impact on earnings in the coming quarters.”
Read more: Angel Oak Mortgage takes part in first securitization since IPO, reduces warehouse debt
AOMR contributed loans with a scheduled unpaid principal balance of $93.8 million, against which it carried $63.5 million of debt on its most expensive warehouse facility.
“This transaction increases the weighted average coupon rate of our remaining residential whole loans portfolio, which should support future securitization execution.”
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Source: mpamag.com