Angel Oak Home Loans Hires Vice President of Correspondent Sales
Angel Oak Home Loans has named Steven Valladares as vice president of correspondent sales, a move that comes as the company increasingly strives to grow its correspondent channel.
Valladares will be responsible for building a sales infrastructure to support internal and external sales teams as Angel Oaks expands its reach to include both the agency and non-qualified mortgage (non- QM), company representatives said in a statement. The corresponding business line focuses on purchasing and servicing home loans on the secondary market.
“Angel Oak will act as a multi-faceted correspondent capable of meeting the needs of the massive agency market as well as non-QMs,” Valladares said in a statement.
Beginning in the third quarter of 2021, Angel Oak purchases agency mortgages to provide a one-stop approach to selling, servicing and securitizing all types of homes to lenders, the company said.
Valladares has nearly 20 years of experience in direct selling focused on correspondent sales and relationship management. Most recently, he was Managing Director and Head of Sales at Digital Mortgage Exchange Maxex for over a year. Previously, he held vice president positions at Wells Fargo and Fannie Mae, where he oversaw the national sales and capital markets teams.
Despite downsizing in the mortgage market, the full-service retail mortgage lender is expanding its branches across the country. Angel Oak opened four new branches in California, Missouri and Nevada on Wednesday, bringing the total to 47 locations across the country. Since the company said it planned to have a bigger presence in the western region of the country, Angel Oak launched three branches in California, Nevada and Utah in December.
Angel Oak has two companies as part of its home lending business: Angel Oak Home Loans and Angel Oak Mortgage Solutions. Angel Oak Mortgage Solutions offers non-QM and specialty mortgage solutions for brokers and correspondents.