Homepoint is in a tough spot. 

Like its peers, the wholesale lender’s origination volume has plunged over the past year due to a dearth of refinancings and a sluggish purchase market. But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

Homepoint’s financial statements tell the story. Origination volume declined 63.5% year over year to $9.3 billion in details ⇒

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