General World News

Home Point Capital bounces back in Q3 thanks to MSR sale

HW+ Willie Newman
Willie Newman, president and CEO of Home Point Capital

Home Point Capital, parent entity of Michigan-based wholesale lender Homepoint, bounced back from a brutal second quarter, posting a net income gain of $71 million in Q3.

This is a notable improvement from the $73.2 million net loss posted by the company in the second quarter. Helping the lender rebound was Home Point’s sale of its mortgage servicing rights (MSR) portfolio of single-family mortgage loans guaranteed by Ginnie Mae for close to $122 million.

The company, which went public earlier in the year, details ⇒

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