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Home » Store » Ability to Repay » Angel Oak and Citadel Servicing Working on New Non-Agency MBS Deals. Some Snafus Along the Way

Angel Oak and Citadel Servicing Working on New Non-Agency MBS Deals. Some Snafus Along the Way

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Ability to Repay

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Two of the most active originators of nonprime loans that don’t meet the qualified-mortgage test are working on new MBS deals, though market timing is a little uncertain at this point. Mike Fierman, managing partner of the Angel Oak Companies, said the Atlanta-based company has a transaction on the drawing board, but noted that the two recent hurricanes have slowed progress. “As a result … we are taking steps to re-verify the condition of all properties and are offering borrowers assistance if necessary,” said the managing partner. Fierman noted...
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