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Homepoint profits $12M in Q1 after selling operations and assets

Home Point Capital, the parent company of wholesale lender Homepoint, continues to turn profits based on the selling of operations and assets as management adjusts the company to the shrinking mortgage market.

The wholesaler reported on Thursday morning it notched a $12 million profit from January to March, a sequential decline from the $19.3 million in the fourth quarter of 2021 and $149 million in the first quarter of 2021.

Willie Newman, Home Point Capital CEO, told analysts the industry built up the capacity to handle $4 trillion in originations during the past few years, which had lowered to $2.5 trillion, as refinancing details ⇒

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