Angel Oak Mortgage Trust 2020-5: Presale Report

DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to Angel Oak Mortgage Trust 2020-5 (AOMT 2020-5 or the Trust), a securitization of a portfolio of primarily first-lien fixed- and adjustable-rate nonprime and expanded prime residential mortgages funded by the issuance of the Mortgage-Backed Certificates, Series 2020-5 (the Certificates). The Certificates are backed by 784 loans with a total principal balance of $324,368,630 as of the Cut-Off Date (August 1, 2020).