Homepoint has launched a new program to reduce rates for borrowers with lower income, the wholesale lender announced Wednesday.

The initiative comes after the company reported a loss in the second quarter of 2022 amid a price war, mainly from its wholesale-only rival United Wholesale Mortgage (UWM). 

Homepoint is offering a 75 basis point pricing bonus for conforming conventional loans, with no additional cost to borrowers. The offer is available in specified zip codes in 20 states where the lender identified a high percentage of loans originated to people below the area median income. 

The following states are included: Alabama, Connecticut, details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com