Home Point Financial works exclusively with third-party originators and is laser-focused on helping brokers succeed.
Home Point is now the second largest and fastest-growing wholesale mortgage lender for residential loans in the U.S. in Q1 2020, according to Inside Mortgage Finance. Since its launch in 2015, the company’s year-over-year loan volume has nearly doubled each calendar year and is expected to more than double to $50+ billion in 2020.
“Home Point has established itself as a top lender through doing business differently in the traditional and competitive mortgage industry,” said Willie Newman, president and CEO. “We take a modern approach to lending with smart, compassionate people that deliver a seamless, trusted experience for our partners and borrowers—every time.”
By partnering with brokers and customers over the life of their loan, Home Point helps brokers deliver a great experience to their borrowers and agents and win more customers and loans.
“Our mission is to support borrowers’ financial health and happiness, and when borrowers are ready to refinance or make a move, Home Point connects those customers to our partners,” said Phil Shoemaker, president of originations. “We don’t just focus on getting the loan closed – we help our partners build long-term sustainable businesses.”
As wholesale lending continues to grow, a key issue for brokers is their ability to maintain their customers and not compete with lenders for their borrowers. Home Point makes a great partner for brokers because it does not have a traditional retail footprint or operate in the directly competitive retail space.
Instead, Home Point partners exclusively with third-party originators to offer partners a service that is completely optimized for their business. Brokers who work with Home Point can consistently provide borrowers value through better pricing and product execution than their retail counterparts while delivering the service needed to compete with retail.
Home Point’s skilled account executives provide deep mortgage and local market expertise, and the company offers a streamlined loan process with experienced origination staff to help navigate even the most complex closings.
“It’s the care we offer to every customer for every loan that sets us apart,” Chief Originations Officer Lisa Patterson said. “We empower our in-house experts to solve problems and offer exceptional service – something rarely offered in a wholesale environment.”
In 2019, Home Point debuted its Customer for Life initiative, designed to help brokers stay connected with their borrowers. Home Point is one of the few wholesale lenders that retains 95% of loans for servicing, positioning them to offer brokers this benefit. The company uses a combination of data insight, marketing automation and branding opportunities within its home ownership platform to deliver this ongoing value to broker partners.
By helping brokers provide exceptional service upfront to their customers and agents, as well as providing consistent value to homeowners after the loan closes, Home Point helps brokers grow and scale their business to win referrals and satisfied repeat customers.
William “Willie” Newman, President & CEO
Willie Newman is an acknowledged expert and innovator in the mortgage industry with over 25 years of experience. In 2014, Newman partnered with private equity firm Stone Point Capital to form Home Point Financial, which has quickly become a Top 20 National Lender and is ranked the second largest wholesale lender and the 13th largest correspondent lender in the U.S.
Phil Shoemaker, President of Originations
Phil Shoemaker brings over 20 years of experience and a diverse background in technology, operations, and sales to building the nation’s largest mortgage companies. Shoemaker has held leadership positions at Caliber Home Loans, StoneWater Mortgage Corporation and First Magnus Financial Corporation. At Home Point, he is responsible for mortgage lending and has increased annual loan originations by over 100% since he joined in 2018.
Lisa Patterson, Chief Originations Officer
Lisa Patterson leads the high-performing team responsible for the impressive growth of Home Point’s wholesale channel. Patterson has led the development of strategic business initiatives, including the company’s innovative Customer for Life program, which was designed to empower business partners to reach new levels of productivity and success. Patterson has over 25 years of experience building and managing both production and operations teams.