General World News

 Home Point is shrinking but still losing money

Like most of its publicly traded peers, Home Point Capital, the parent company of wholesale lender Homepoint, shrank in 2022 to adapt to a shrinking mortgage market. But its cost-cutting initiatives were not enough to return the lender to profitability. The possibility of Home Point being sold isn’t out of the realm of possibility, the company’s CEO said.

The Ann Arbor, Michigan-based company reported Thursday morning it suffered a non-GAAP adjusted net loss of $21.7 million in the fourth quarter, smaller than the $81 million loss in the previous quarter. The GAAP details ⇒

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