AOMR - What REIT Investors Should Know About Angel Oak's IPO
The past year has been particularly good for the mortgage banking industry. The COVID-19 pandemic prompted aggressive action out of the Federal Reserve, which cut benchmark interest rates to zero and reinstated bond- and mortgage-backed security purchases. The mortgage banking industry had its best year since 2003, and a slew of mortgage originators took advantage of the good times and went public.
The latest mortgage bank to go public is Angel Oak Mortgage (NYSE: AOMR) . It has a different business model than most of the other public mortgage banks, so it pays to understand what it does.
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What REIT Investors Should Know About Angel Oak's IPO