Shrinking wholesale lender Homepoint is closing its mortgage origination business and will sell its origination-focused assets to competitor The Loan Store, the company announced on Friday.  

Michigan-based Homepoint is “winding down” its tenure as a direct participant in the mortgage origination business and becoming an investor in the market, as the company will hold an equity interest in The Loan Store.

“After careful consideration, and in light of current market conditions, we have decided to sell our wholesale originations business to The Loan Store,” Willie Newman, president and CEO of Homepoint, said in a details ⇒

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