Home Point Capital reported another quarterly loss on Friday morning, just two days after announcing that it is being sold to Mr. Cooper Group for $324 million in cash. The transaction will result in the company shutting down in the coming months.
In the first quarter, Home Point’s origination and servicing businesses were in the red amid declining production volumes and a negative change in the fair value of its mortgage servicing rights (MSR).
Overall, Home Point delivered a non-GAAP adjusted net loss of $28.3 million from January to March, larger than the $21.7 details ⇒
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