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Home Point Capital’s 3Q Profit Drops Despite Gain in Loan Volume

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.

arrow down icon 157360 1280While 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.

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