Angel Oak Mortgage, Inc. operates as a real estate finance company. It focuses on acquiring and investing in first lien non-qualified mortgage loans. The firm also invests in other residential mortgage loans, commercial mortgage loans, residential mortgage-backed securities, commercial mortgage-backed securities, and other mortgage-related assets. The company was founded in March 20, 2018 and is headquartered in Atlanta, GA.
The COVID-19 pandemic prompted aggressive action out of the Federal Reserve, which cut benchmark interest rates to zero and reinstated bond- and mortgage-backed security purchases. The mortgage banking industry had its best year since 2003, and a slew of mortgage originators took advantage of the good times and went public. The latest mortgage bank to go public is Angel Oak Mortgage (NYSE: AOMR).