Angel Oak Interest Only | Nations Branch

Table 1 of 2

Criteria	PLATINUM	PLATINUM ASSET QUALIFER
NonQM Profile Category	Bank Statement; Interest Only; High LTV; Non Warrantbale Condo	Asset Qualifier; Interest Only; Non Warrantable Condo
Documentation	Full/1 Yr tax return/Bank Statement	Asset Only
Maximum Loan Amount	3MM	3MM
Loan Term/Mortgage Rate Type	30 yr fixed or 5/1 ARM	30 yr fixed or 5/1 ARM
Interest Only	30 or 40-Year Fixed I/O or 5/1 ARM I/O (30 or 40 yr)	30 or 40-Year Fixed I/O or 5/1 ARM I/O (30 or 40 yr)
Bankruptcy Seasoning	48 Months	60 Months
DTI	40/50%	40/50%
Credit Score (min)	660	700
Foreclosure, Short Sale, Deed-in-Lieu	48 Months	60 Months
Occupancy	Owner-Occupied or Second Home	Owner-Occupied
Min. Reserves	6 months	6 months
Residual Income (min)	$3,000	$1,300
Max Payment Shock	350% FTHB – 250%	350% FTHB – 250%
Mortgage (or rent) Payment History	1 x 30 x 12 or 2 x 30 x 24	1 x 30 x 12 or 2 x 30 x 24
Rent Free	Not Eligible	Not Eligible
Max LTV	90%	75%
Gift Funds	Allowed	Not Allowed
Max Cash in Hand	$500K	N/A
Non Warrantable Condos	Available	Available
Marketing	Just Missed agency fallout, perfect for SE borrowers using bank statements for income or borrowers with a major credit event between 4-7 years	Perfect for Borrowers With High Net Worth and Significant Assets No other income required
Operational	Visit our website at www.angeloakms.com for rates (QuickQuote) or to get a Prequal for your borrower (Prequal Request)	Visit our website at www.angeloakms.com for rates (QuickQuote) or to get a Prequal for your borrower (Prequal Request)

Table 2 of 3

Criteria	PORTFOLIO SELECT	PORTFOLIO SELECT ASSET QUALIFER
NonQM Profile Category	Bank Statement; Interest Only; High LTV; Investor, Non Warrantable Condo	Asset Qualifier; Interest Only; Non Warrantable Condo
Documentation	Full/1 Yr tax return/Bank Statement	Asset Only
Maximum Loan Amount	3MM	3MM
Loan Term/Mortgage Rate Type	30 yr fixed or 5/1 ARM	30 yr fixed or 5/1 ARM
Interest Only	30 or 40-Year Fixed I/O or 5/1 ARM I/O (30 or 40 yr)	30 or 40-Year Fixed I/O or 5/1 ARM I/O (30 or 40 yr)
Bankruptcy Seasoning	24 Months	60 Months
DTI	40/50% Investment properties 50%	40/50%
Credit Score (min)	600	700
Foreclosure, Short Sale, Deed-in-Lieu	24 Months Sort Sale – No seasonong if paid as agreed through sale date	60 Months
Occupancy	Owner-Occupied, Second Home or Investmnet Property	Owner-Occupied
Min. Reserves	6 months, 12 months under certain circumstances	6 months
Residual Income (min)	$2,000	$1,300
Max Payment Shock	250%	250%
Mortgage (or rent) Payment History	Max 1 x 30 x 12	Max 1 x 30 x 12
Rent Free	Not Eligible	Not Eligible
Max LTV	90%	75%
Gift Funds	Allowed	Not Allowed
Max Cash in Hand	$500K	N/A
Non Warrantable Condos	Available	Available
Marketing	SE borrowers using bank statements for income (down to a 600 FICO) or borrowers with a major credit event over 2 years	Perfect for Borrowers With High Net Worth and Significant Assets No other income required
Operational	Visit our website at www.angeloakms.com for rates (QuickQuote) or to get a Prequal for your borrower (Prequal Request)	Visit our website at www.angeloakms.com for rates (QuickQuote) or to get a Prequal for your borrower (Prequal Request)

Table 3 of 3

Criteria	INVESTOR CASH FLOW
NonQM Profile Category	Investor; No Income; Interest Only; Non Warrantable Condo
Documentation	Debt Service Covergae Ratio
Maximum Loan Amount	1.5MM
Loan Term/Mortgage Rate Type	30 yr fixed or 7/1 ARM
Interest Only	30 or 40-Year Fixed I/O or 7/1 ARM I/O (30 or 40 yr)
Bankruptcy Seasoning	24 Months
DTI	N/A
Credit Score (min)	640
Foreclosure, Short Sale, Deed-in-Lieu	24 Months
Occupancy	Investment Property
Min. Reserves	6 months
Residual Income (min)	N/A
Max Payment Shock	N/A
Mortgage (or rent) Payment History	0 x 30 x24
Rent Free	Not Eligible
Max LTV	80%
Gift Funds	Not Allowed
Max Cash in Hand	$300K
Non Warrantable Condos	Available
Marketing	No Income/No ratio program designed for investors. Program qualifies using the cash flow of the subject property only
Operational	Visit our website at www.angeloakms.com for rates (QuickQuote) or to get a Prequal for your borrower (Prequal Request)