Angel Oak Mortgage REIT, Inc. Announces Resignation of Michael Peck as a Member of the Company?s Board of Directors
March 25, 2024 at 04:18 pm EDT
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On March 22, 2024, Michael Peck notified Angel Oak Mortgage REIT, Inc. (the ?Company?) of his decision to resign as a member of the Company?s Board of Directors (the ?Board?) effective March 22, 2024. Mr. Peck?s resignation is not the result of any disagreement with the Company or the Board on any matter relating to the operations, policies or practices of the Company. As a result of Mr. Peck?s resignation, the size of the Board was reduced by one director, from nine to eight directors, five of whom are independent directors.
Angel Oak Mortgage REIT, Inc. is a real estate investment trust (REIT) focused on acquiring and investing in first lien non-qualified residential mortgage (non-QM) loans and other mortgage-related assets in the United States (U.S.) mortgage market. The Company's objective is to generate attractive risk-adjusted returns for its stockholders through cash distributions and capital appreciation across interest rate and credit cycles. Its strategy is to make credit-sensitive investments in newly originated first lien non-QM loans that are primarily made to non-QM loan borrowers and primarily sourced from its mortgage lending platform, Angel Oak Mortgage Lending, which operates through a wholesale channel and has a national origination footprint. It also may invest in other residential mortgage loans, RMBS, and other mortgage-related assets, which, collectively with non-QM loans, are referred to as target assets. It is externally managed and advised by Falcons I, LLC (the Manager).