Angel Oak Home Loans named Steven Valladares as vice president of correspondent sales, a move that comes as the firm increasingly works to grow its correspondent channel.
Valladares will be responsible for creating a sales infrastructure to support the internal and external sales teams as Angel Oaks expands its focus to include both the agency and non-qualified mortgage (non-QM) markets, company reps said in a release. The correspondent business line is focused on purchasing and servicing home loans in the secondary market.
“Angel Oak will act as a multifaceted correspondent capable of satisfying the needs of the massive agency market as well as non-QM,” Valladares said in a statement.
Since the third quarter of 2021, Angel Oak has been purchasing agency mortgages to offer a one-stop shop approach for the sale, servicing and securitization of all home types to lenders, the firm said.
Valladares has almost 20 years of direct sales experience focused on correspondent sales and relationship management. Most recently, he was managing director head of sale at digital mortgage exchange Maxex for more than a year. His previous experience includes vice president positions at Wells Fargo and Fannie Mae, where he oversaw national sales and capital markets teams.
Despite the downsizing 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 plans to have a larger presence in the Western region of the country, Angel Oak launched three branches in California, Nevada and Utah in December.
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Presented by: Angel Oak
Angel Oak has two firms under its residential lending business: Angel Oak Home Loans and Angel Oak Mortgage Solutions. Angel Oak Mortgage Solutions offers non-QM and specialized mortgage solutions for brokers and correspondents.
