Correspondent

Our Most Frequently Asked Questions and Answers

How do you endorse the note?

Angel Oak Mortgage Solutions LLC


What signature should be used on the allonge?

Angel Oak Mortgage Solutions LLC


What is Angel Oak’s MERS ID?

1013016


What should I know about loan lock commitments?

The lock must not expire prior to the closing date. 

Loan delivery should occur within 10 days of closing.

Every 15 days after the delivery date which the loan is not cleared there is a .25 bps extension fee.


How is interest calculated?

Interest is calculated on a 360 day basis.


Are interest credits allowed?

Yes, for disbursements prior to the 6th of the month.


Are POA’s allowed?

Active military only and Angel Oak must review/approve prior to closing.


Are your ARMS Treasury or LIBOR?

LIBOR


What is the lookback on ARMS?

45 Days


Are the loans assumable?

No. We do not allow assumption. 


Are borrowers allowed to waive escrow? 

We only allow escrow waiver on the Jumbo Prime Program for LTV’s under 80% (CA has a 90% carve out )


What is the name and address of the lender in the Insurance Mortgagee Clause?

Angel Oak Mortgage Solutions LLC ISAOA, ATIMA
     980 Hammond Drive
     Suite 850 Atlanta, GA 30328

855-539-4910


What information do I need to know for a goodbye letter?

The address for the payment office:

Angel Oak Mortgage Solutions
     980 Hammond Drive
     Suite 200 Atlanta, GA 3032

The address for the correspondence office:

Angel Oak Mortgage Solutions LLC ISAOA, ATIMA
     980 Hammond Drive
     Suite 850 Atlanta, GA 30328

The phone number for additional information or questions:

Toll-Free 1-844-209-7424 

Monday – Friday, 8 am – 6 pm EST

 

 

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