Weeks after asserting a spherical of layoffs, wholesale lender Homepoint disclosed a $73 million internet loss inside the second quarter of 2022.
Homepoint, primarily based out of Ann Arbor, Michigan, originated $25.5 billion cost of mortgages within the second quarter, according to its quarterly earnings assertion. That’s greater than double what it really did a 12 months previously, however was additionally down from $29 billion in originations inside the first quarter of 2022.
The lender’s gain-on-sale margin fell 79% from the 12 months in the past, down to simply 58 foundation factors. That’s far from even the primary quarter, when Homepoint’s margin checked in at 147 foundation factors. Pressures have been in all places, it may look like.
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The submit Homepoint’s gain-on-sale margin plummets appeared first on HousingWire.