The deal received a preliminary A rating from Morningstar.

The company believes its ability to source loans through its affiliate lender, Angel Oak Mortgage Solutions, can provide insurance companies with more bespoke investment options than its competitors.

ARMs accounted for 14.3% of total originations last year, up from a 13.8% share in 2022.

Increased jumbo production from UWM helped boost broker originations, while Wells Fargo’s exit from correspondent lending hurt that channel’s market share as other lenders didn’t pick up the slack. (Includes data table.)

Ellington Financial, MFA Financial and AG Mortgage Investment Trust boosted net income in the fourth quarter and expect to see strong performance this year.

Angel Oak Mortgage REIT, which aggregates non-QMs, returned to the black in 2023 after overhauling its strategy in late 2022.

Originations of ARMs declined 20% in the fourth quarter. Still, ARM share of total originations ticked up in 2023. (Includes data table.)

Velocity Financial said it benefited from less competition in its business-purpose lending niche.

Steadworth’s shared-equity agreement offering includes downpayment assistance for homebuyers.

Neuberger Berman returned to the expanded-credit MBS space with a new shelf and Logan Finance.