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Home Point Capital’s 3Q Profit Drops Despite Gain in Loan Volume
Sunday, Nov 07 2021
The Mortgage Leader
Home Point Capital has announced a profit of $71.2 million for the third quarter, down 73% from the same period a year before. So reports The Detroit News.
While the mortgage lender’s loan origination volume rose 15% year-over-year to $20.8 billion, its gain-on-sale margin shrank 71%.
Home Point stressed that it is working to cut expenses and attract brokers to its platform amid expectations of rising interest rates.
Read the full article from The Detroit News.