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Homepoint takes $44M loss in Q2 amid price war

Home Point Capital, the parent company of wholesale lender Homepoint, took a loss in the second quarter of 2022, even after reducing costs and selling mortgage servicing rights. 

The company reported reduced volume and lower margins caused by surging rates and an aggressive pricing strategy from its rival United Wholesale Mortgage (UWM). 

Homepoint, however, said it will not engage in a price war. 

“Our bias right now is towards more margins and less volume – that said, obviously, the volume opportunity on a macro basis is relatively limited,” Willie Newman, Home Point Capital CEO, told analysts during a conference call. “We’re not details ⇒

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