Shortly after wrapping up its acquisition of Stonegate Mortgage Corp., Home Point Financial Corp. already announced it’s expanding its third-party origination channel.
The lender plans to increase its wholesale client base by expanding the geographic reach and number of third-party originators the channel will serve.
As a result, Home Point’s TPO channel will grow into five geographical regions, which Lisa Patterson, executive managing director of TPO production, will continue to lead. Patterson will report to Chief Production Officer Brian Brizard.
Regional managing directors include: Paul Wyner (Northeast), Jeff Lochmandy (Southeast), John Pantalone (Midwest), Patrick McGrath (Northwest) and Mary Shaver (Southwest).
"This expansion will allow Home Point to more effectively serve our wholesale clients nationwide, while providing enhanced levels of service, a full product suite and competitive pricing," said Patterson. "With several new technology improvements designed to simplify the process for our clients on the horizon, there's never been a better time to partner with Home Point."
Home Point finalized its $211 million acquisition of Stonegate Mortgage back at the beginning of the month. As a result of the deal, Stonegate became a wholly owned direct subsidiary of Home Point.
But Stonegate wasn't the first acquisition for Home Point. The lender has been on an acquisition spree since it was founded in 2014, significantly ramping up its lending operations. Home Point is a subsidiary of Home Point Capital, a financial services holding company founded in 2014 and owned by members of management and by investment funds managed by Stone Point Capital.
Back in early 2015, Home Point announced the acquisition of Maverick Funding, with Maverick’s business becoming Home Point’s initial mortgage banking platform. In addition, Home Point also agreed to take on several mortgage origination branches and operations from Great Plains National Bank.