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Homepoint’s gain-on-sale margin plummets

mortgage rates, interest rates, equity

Weeks after announcing a round of layoffs, wholesale lender Homepoint disclosed a $73 million net loss in the second quarter of 2021.

Homepoint, based out of Ann Arbor, Michigan, originated $25.5 billion worth of mortgages in the second quarter, according to its quarterly earnings statement. That’s more than double what it did a year ago, but was also down from $29 billion in originations in the first quarter of 2021.

The lender’s gain-on-sale margin fell 79% from a year ago, down to just 58 basis points. That’s a far cry from even the details ⇒

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