HomePoint

About HomePoint

Home Point Capital, which operated as HomePoint, was a residential mortgage originator and servicer founded in 2014 by Willie Newman in partnership with the private equity firm Stone Point Capital. The company became operational in 2015 after acquiring Maverick Funding.

Willie Newman, who served as President and CEO, brought over 25 years of mortgage industry experience to the firm. His career includes co-founding Cole Taylor Mortgage in 2010 and playing a key role in the development of ABN AMRO Mortgage Group (AAMG) into a top-five mortgage lender. This deep expertise in the mortgage sector, particularly in wholesale lending, shaped HomePoint's strategic direction.

HomePoint operated with a business model centered on wholesale lending, partnering with a nationwide network of independent mortgage brokers. The company's revenue was generated through the origination and servicing of residential mortgages, including conventional, FHA, VA, and USDA loans. This model focused on providing the infrastructure and support for its broker partners, leveraging technology to streamline the loan process. By 2020, the company had grown to become the nation's third-largest wholesale mortgage lender.

A key offering was the "Customer for Life" program, a tech-driven ecosystem designed to help mortgage brokers maintain long-term relationships with their clients by providing data and tools to identify future refinancing or purchasing opportunities. Another service, Homepoint Amplify, was introduced to offer localized operational support to brokers through regional teams of underwriters, closers, and funders, aiming to combine the resources of a large lender with the personalized service of a smaller one.

In early 2021, Home Point Capital went public. However, facing difficult market conditions, the company sold its wholesale lending business to The Loan Store Inc. in April 2023. Shortly after, in August 2023, Mr. Cooper Group Inc. completed its acquisition of Home Point Capital for approximately $324 million. Following the acquisition, Home Point's remaining operations were shut down.