# Angel Oak Mortgage REIT

Angel Oak Mortgage REIT is an Asset Manager based in Atlanta, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Atlanta, United States
- **Region:** North America
- **Address:** Atlanta, GA, United States
- **Founded:** 2021
- **Assets under management:** Undisclosed
- **Website:** angeloakreit.com
- **LinkedIn:** https://www.linkedin.com/company/angel-oak-mortgage-reit-inc

## Regulatory record

- **Reports private funds:** No

## About

Angel Oak Mortgage, Inc. (“Angel Oak Mortgage REIT” | NYSE: AOMR) is a real estate finance company focused on acquiring and investing in first lien non-QM loans and other mortgage-related assets in the U.S. mortgage markets. The company’s objective is to generate attractive risk-adjusted total returns for its stockholders across interest rate and credit cycles.

## Sectors

- Real Estate
- Private Credit

## People

- Sreeni Prabhu — Chief Executive Officer
- Brandon Filson — Chief Financial Officer

## Questions

### Who runs investment decisions at Angel Oak Mortgage REIT?

Sreeni Prabhu serves as CEO and chairs the firm’s investment committee. He co-founded the broader Angel Oak Companies in 2008 and has been the public face of the REIT since its 2021 IPO. The management team draws from the parent company’s asset-management division, and the board includes independent directors who must approve related-party transactions between the REIT and Angel Oak’s origination affiliates.

### How does the REIT source its loan portfolio?

The REIT acquires newly originated non-qualified mortgage loans from Angel Oak Home Loans and Angel Oak Mortgage Solutions — affiliated retail and wholesale mortgage companies that sit outside the REIT’s structure. These loans are originated to Angel Oak Companies’ underwriting standards and then sold into the REIT through a correspondent channel at a price that must meet the independent-board standard for arms-length transactions. The origination affiliates retain the mortgage-servicing rights while the REIT holds the loan assets.

### How is Angel Oak Mortgage REIT related to Angel Oak Capital Advisors?

Angel Oak Capital Advisors is the registered investment-adviser entity that manages the REIT’s portfolio under an external management agreement, and it also runs several private credit and mortgage-focused funds for institutional and retail investors. Both the REIT and the adviser are part of the privately held Angel Oak Companies, founded by Sreeni Prabhu and others in 2008. The REIT pays a base management fee and an incentive fee to the adviser, a structure common among externally managed mortgage REITs but one that an allocator should model carefully given the adviser’s dual role as manager and affiliate of the origination companies.

### What interest-rate and credit risks does the REIT carry?

The REIT funds loan accumulation with short-term repurchase agreements and warehouse lines; when short rates rise faster than the coupon on its loan book, the net interest margin compresses — exactly what occurred during the 2022–2023 Federal Reserve tightening cycle. On the credit side, non-QM loans carry higher default risk than agency-conforming mortgages, though Angel Oak’s deliberate focus on prime-borrower attributes serves as a mitigant. The firm has historically reported serious delinquency rates below the non-agency sector median.

### What roles do the Angel Oak origination companies play relative to the REIT?

Angel Oak Home Loans and Angel Oak Mortgage Solutions act as captive loan-origination engines, writing non-QM and conforming mortgages across 40-plus states with a concentration in the Southeast. They are not owned by the REIT — they sit inside the parent company — but their non-QM production flows into the REIT through a regularly audited transfer-pricing process. The vertical integration can give the REIT a cost advantage over competitors who must buy loans on the open market, though it also concentrates the REIT’s sourcing risk inside a single corporate family.

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Last updated: 2026-06-03T20:00:00.000Z

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