Non-QM wholesale lender Angel Oak Mortgage Solutions (AOMS) has promoted longtime production head Tom Hutchens to president.
The Atlanta-based company, which is part of the larger family of Angel Oak mortgage entities, said John Jeanmonod, formerly Angel Oak’s regional vice president of sales, would replace Hutchens as executive VP of production.
Tom Hutchens of Angel Oak Mortgage Solutions
Additionally, Alysse Prosnick and Travis LaLonde have been promoted to executive vice president of operations and executive vice president of credit, respectively.
The promotions are effective Sept. 1.
“These organizational changes are a testament to the in-house talent at Angel Oak and commitment of these four individuals in driving our broader success,” said Mike Fierman, managing partner and co-CEO of Angel Oak Companies. “These moves not only recognize the well-deserved achievements and contributions of these executives but also position us to thrive as we continue to expand our non-QM solutions and partner network.”
Hutchens, who has been executive VP of production at Angel Oak for over 10 years, will lead the overall strategy and growth for AOMS.
In an interview with HousingWire on Tuesday, Hutchens said the firm is optimistic about its prospects both the near- and long-term.
“We had a very good second quarter and so far a good third quarter,” Hutchens said, adding that activity and funding levels across the board have been very positive and could rise further if interest rates ease.
Asked for monthly production figures, Hutchens declined to answer. He stressed that AOMS recently released a bank statement HELOC program, and it should result in strong demand regardless of the Fed’s upcoming moves.
“It’s giving originators a reason to call their past borrowers with a product,” he said, adding that for many of AOMS’ broker partners, it has become a part of their repertoire.
As EVP of production, Jeanmonod will take on ownership of the firm’s production team,
spearheading new sales initiatives and strengthening Angel Oak’s broker and correspondent
channel relationships.
Prosnick, who has more than nine years of experience with the firm, will be tasked with streamlining efficiencies and scaling the firm’s capabilities, to drive growth.
LaLonde, who previously served as senior vice president of the Dallas operations, will
oversee the company’s credit policies as well as its risk management and lending practices.
