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SEC claims Angel Oak Capital Advisors deceived investors

Angel Oak Capital Advisors, the investment management arm of non-QM lender Angel Oak Cos., has agreed to pay $1.75 million to settle charges brought by the U.S. Securities and Exchange Commission (SEC) alleging that the company misled investors about the delinquency rates in a 2018 private-label securitization involving fix-and-flip loans.

Also charged in the case, according to the SEC, was Ashish Negandhi, the portfolio manager for Angel Oak Capital Advisors. Negandhi also agreed to settle the charges and pay a penalty of $75,000.

At the core of the case is the allegation by the SEC that Atlanta-based Angel Oak details ⇒

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