Homepoint Introduces New Service Model to Help Mortgage Brokers Thrive in Purchase Market
No. 3 wholesale lender's regional alignment of operations and sales personnel seeks to create new industry standard for loan efficiency, personalized service, and fast closings
ANN ARBOR, MI, June 28, 2021 — Homepoint, the third-largest wholesale mortgage lender in the nation, today introduced Homepoint Amplify, its new service model that combines localized support with Homepoint's national platform to help mortgage brokers maximize efficiency and deliver a faster, more personalized customer experience in today's purchase-focused mortgage market.
Under this new model, Homepoint will form regional support teams aligned with Homepoint's six regions—Central, Northeast, Northwest, South, Southeast and Southwest. Each region will have designated teams of loan coordinators, underwriters, closers and loan funders paired with account executives that already service broker partners in those respective areas. By organizing its operations and sales regionally, Homepoint will provide brokers with a uniquely intimate partnership arrangement with designated specialists that gives a "small lender" feel—with the technology, resources and capabilities of a large lender.
"Relationships between mortgage brokers and lenders are paramount in a purchase market, said Phil Shoemaker, President of Originations at Homepoint. "With Homepoint Amplify, we are transitioning into a service model that enables our broker partners to more closely connect with our experienced operations and sales personnel to win more business in this purchase market. We're one of the largest wholesale mortgage lenders in the country, but brokers will benefit from the more personable communication and collaboration that stems from the small-lender feel that our new model will provide."
Homepoint's transition to a regionally aligned model will provide major benefits to mortgage brokers, as it will remain highly efficient in terms of speed, while enhancing the relationship element of the business that helps brokers outperform retail competitors that generally operate via a call center setup.
By providing brokers with consistent access to small teams of regionally dedicated operations personnel, Homepoint will also condense points of contact for its broker partners, making it easier to escalate service and inquiries.
Paired with investments that the company has made in new technology, the closer alignment of its sales and operations personnel aim to enable Homepoint to deliver improved efficiency, leading to faster turn times, a simpler closing process, and a self-service disclosure process that seeks to position its broker partners for sustained growth in any market cycle.
"Six years ago, Homepoint was founded with the goal of creating a highly efficient and streamlined mortgage business that leverages technology and a distributed network of third-party originators to deliver a people-centric mortgage experience that can thrive through any market cycle," said Shoemaker. "While we were opportunistic during last year's refinance boom, we also continued to invest in the processes and systems needed to enable our vision. The launch of Homepoint Amplify represents the realization of these investments as Homepoint puts the technology and service models in place to deliver on its vision to be the best mortgage lender for customers and partners."
Homepoint, a subsidiary of Home Point Capital Inc. (NASDAQ: HMPT), is one of the nation's leading mortgage originator and servicers, putting people front and center of the homebuying and homeownership experience. The company supports successful homeownership as a crucial element of broader financial security and well-being through delivering long-term value beyond the loan. Founded in 2015 and headquartered in Ann Arbor, Michigan, Homepoint works with a nationwide network of more than 6,000 mortgage broker and correspondent partners with deep knowledge and expertise about the communities and customers they serve. Today, Homepoint is the nation's third-largest wholesale mortgage lender and the 7th-largest non-bank mortgage lender.
Home Point Financial Corporation d/b/a Homepoint. NMLS No. 7706 (For licensing information, go to: www.nmlsconsumeraccess.org). Home Point Financial Corporation does not conduct business under the name, "Homepoint" in IL, KY, LA, MD, NY, or WY. In these states, the company conducts business under the full legal name, Home Point Financial Corporation. 2211 Old Earhart Road, Suite 250, Ann Arbor, MI 48105. Toll-Free Tel: (888) 616-6866.
Forward Looking Statements
This press release contains certain "forward-looking statements," as that term is defined in the U.S. federal securities laws. In addition, from time to time, Home Point Capital Inc. (the "Company") or its representatives have made, or may make, forward-looking statements orally or in writing. These forward-looking statements include, but are not limited to, statements other than statements of historical facts, including among others, statements relating to the Company's future financial performance, the Company's business prospects and strategy, anticipated financial position, liquidity and capital needs, the industry in which the Company operates and other similar matters. Words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "could," "would," "will," "may," "can," "continue," "potential," "should" and the negative of these terms or other comparable terminology often identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward-looking statements. Factors, risks, and uncertainties that could cause actual outcomes and results to be materially different from those contemplated include, among others: the spread of the COVID-19 outbreak and severe disruptions in the U.S. and global economy and financial markets it has caused; our reliance on our financing arrangements to fund mortgage loans and otherwise operate our business; the dependence of our loan origination and servicing revenues on macroeconomic and U.S. residential real estate market conditions; counterparty risk; the requirement to make servicing advances that can be subject to delays in recovery or may not be recoverable in certain circumstances; competition for mortgage assets that may limit the availability of desirable originations, acquisitions and result in reduced risk-adjusted returns; our ability to continue to grow our loan origination business or effectively manage significant increases in our loan production volume; competition in the industry in which we operate; our success and growth of our production and servicing activities and the dependence upon our ability to adapt to and implement technological changes; the effectiveness of our risk management efforts; our ability to detect misconduct and fraud; any cybersecurity risks, cyber incidents and technology failures; our vendor relationships; our failure to deal appropriately with various issues that may give rise to reputational risk, including legal and regulatory requirements; exposure to new risks and increased costs as a result of initiating new business activities or strategies or significantly expanding existing business activities or strategies; the impact of changes in political or economic stability or by government policies on our material vendors with operations in India; the impact of interest rate fluctuations; risks associated with hedging against interest rate exposure; the impact of any prolonged economic slowdown, recession or declining real estate values; risks associated with financing our assets with borrowings; risks associated with a decrease in value of our collateral; the dependence of our operations on access to our financing arrangements; risks associated with the financial and restrictive covenants included in our financing agreements; risks associated with higher risk loans that we service; risks associated with derivative financial instruments; our ability to foreclose on our mortgage assets in a timely manner or at all; our ability to obtain and/or maintain licenses and other approvals in those jurisdictions where required to conduct our business; legislative and regulatory changes that impact the mortgage loan industry or housing market; and changes in regulations or the occurrence of other events that impact the business, operations or prospects of government agencies or such changes that increase the cost of doing business with such entities. You should carefully consider the foregoing factors and the other risks and uncertainties that may affect the Company's business, including those described in documents filed from time to time by the Company with the Securities and Exchange Commission. Many of the important factors that will determine these results are beyond our ability to control or predict. You are cautioned not to put undue reliance on any forward-looking statements, which speak only as of the date thereof. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements.