Angel Oak Companies

What Angel Oak Companies does

Angel Oak Companies, LP is a private Atlanta-based financial services platform founded in 2009 and operating across the mortgage credit value chain through two main divisions: Angel Oak Mortgage Solutions (non-qualified mortgage origination, HELOCs, and specialty residential lending) and Angel Oak Capital Advisors (asset management and investment products, including the Angel Oak Income ETF (CARY), a NASDAQ-listed multisector bond fund). The company serves two distinct customer bases: (i) mortgage brokers and their non-traditional borrowers (self-employed, non-QM-eligible, and home equity-seeking consumers) via a broker-originated distribution channel, and (ii) institutional investors seeking exposure to mortgage credit via managed funds and advisory mandates.

The underlying platform comprises wholly-owned subsidiaries — Angel Oak Capital Advisors, Angel Oak Mortgage Solutions, Angel Oak Home Loans, Angel Oak Prime Bridge (bridge financing), and Cherrywood Mortgage — supported by ISO 27001/27701-aligned information security and GLBA/CCPA-compliant data practices. Revenue is generated through transaction-based loan origination fees in the mortgage lending division and recurring management and performance fees in the asset management division, with the broker network serving as the primary origination channel. The company reports 501–1,000 employees.

Following Brookfield Asset Management's acquisition of a controlling stake (announced April 2025, completed April 2026), Angel Oak operates as a majority-owned subsidiary of one of the world's largest alternative asset managers, with management team continuity led by co-founder and CIO Sreeni Prabhu and CFO Ravi Correa. The stated strategic posture going into 2026 emphasizes scaling the broker sales force, expanding HELOC market share, and capturing a larger share of a non-QM market projected to grow from $80–90B to $150B.

Name

Angel Oak Companies

Legal name

Angel Oak Companies, LP

Website

https://angeloakcompanies.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Angel Oak Companies is a private, Atlanta-based financial services platform operating mortgage lending (non-QM and HELOCs) and asset management divisions, serving mortgage brokers, non-traditional borrowers, and institutional investors, now majority-owned by Brookfield Asset Management.

Ownership category

akta.pro rank

Product category

Mortgage Lending and Credit Asset Management

NAICS

Credit Intermediation and Related Activities (522), Open-End Investment Funds (525910)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Real Estate Debt & Mortgage Strategies (FSAAAKAC)

Keywords

• Non-QM mortgage lending
• Mortgage credit solutions
• Asset management services
• Home equity loans
• Specialty mortgage financing

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Mortgage Lending: Angel Oak Mortgage Solutions originates non-qualified mortgages (non-QM) and home equity lines of credit (HELOCs) through broker partnerships. Revenue is generated through interest income and loan origination fees from mortgage lending operations.
2. Asset Management: Angel Oak Capital Advisors provides asset management services for mortgage credit solutions and investments. Revenue is generated through management fees and performance fees.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Angel Oak Companies provides mortgage credit solutions through two divisions: Angel Oak Mortgage Solutions originates non-qualified mortgages (non-QM), HELOCs, and bridge financing delivered through a wholesale broker channel, while Angel Oak Capital Advisors manages fixed income and mortgage credit investment strategies for institutional investors and offers the Angel Oak Income ETF (CARY). The firm also serves consumers directly through Angel Oak Home Loans.

Product overview

Angel Oak Companies is a financial services firm operating a platform of mortgage credit and investment solutions across multiple divisions. The company comprises Angel Oak Capital Advisors (asset management) and Angel Oak Mortgage Solutions (mortgage lending), along with subsidiary brands including Angel Oak Home Loans, Angel Oak Prime Bridge, and Cherrywood Mortgage. The platform also includes the Angel Oak Income ETF (CARY), an actively managed multisector bond fund. The company focuses on innovative mortgage credit solutions and non-QM lending, with operations supported by Brookfield Asset Management's majority stake acquisition.

Differentiator

Problem solved

Functional benefit

Products and services

• Angel Oak Capital Advisors
• Angel Oak Mortgage Solutions
• Angel Oak Home Loans
• Angel Oak Prime Bridge
• Cherrywood Mortgage
• Angel Oak Income ETF (CARY)

Quantifiable outcome

• 33% origination growth in 2025
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• CovienceminorStrategic or Co-development Partner · 1 August 2021Angel Oak Companies announced intention to acquire Canadian startup Covience in August 2021. The acquisition was intended to enhance Angel Oak's digital capabilities in the US and expand its global presence, leveraging Covience's expertise in banking-as-a-service and behavioral analytics.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• NewRez: NewRez (formerly New Penn Financial / Shellpoint Mortgage) is a major non-QM and HELOC lender with broker-distributed origination, closely matching Angel Oak Mortgage Solutions' product set and channel. Both compete for the same non-traditional borrower pool and broker relationships.
• Toorak Capital Partners: Toorak is a leading non-QM correspondent lender and warehouse provider, working directly with mortgage brokers and originators. Its correspondent and bridge products directly compete with Angel Oak Mortgage Solutions and Angel Oak Prime Bridge.
• Verus Mortgage Capital: Verus is a non-QM correspondent investor and securitizer, purchasing non-QM loans from originators and issuing RMBS. It is a critical capital-markets counterparty and competitor for non-QM flow, serving many of the same broker and correspondent partners as Angel Oak.
• Caliber Home Loans: Caliber is a major non-QM and residential mortgage lender, including HELOC products, distributed through retail and broker channels. It overlaps directly with Angel Oak in non-QM product positioning and broker-distributed origination.
• Carrington Mortgage Services: Carrington is one of the largest non-QM lenders in the U.S., offering a broad suite of non-conforming mortgage products distributed through brokers. It directly competes with Angel Oak for non-QM borrower flow and broker partnerships.

Peers

• Deephaven Mortgage:

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Angel Oak Companies