Angel Oak Selling Its Retail Lending Business

Angel Oak Home Loans Selling Brick-And-Mortar Locations Along With Staff To Cross Country Mortgage.

Angel Oak

Angel Oak Home Loans said Thursday it will exit its brick-and-mortar retail lending business.

The Atlanta-based lender said it is selling its retail lending business to a buyer it declined to disclose.

It also did not disclose the financial terms of the transaction. Company executives were also not available to comment. However, industry insiders say the mystery buyer is Cross Country Mortgage. A spokesperson for CCM did not immediately respond to a request for comment.

Cross Country Mortgage is one of the nation’s largest retail mortgage lenders. It has more than 8,000 employees operating more than 600 branches across all 50 states.

The company provided a statement via email that said it is:

Read More At Lender Meltdown

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