The key to implementing non-QM products

With the refi boom falling off and the margin compression happening to lenders nationwide, lenders are looking at non-QM to help fill in those gaps. Learn how to implement non-QM products here!

RealTrends 2021 Team Profitability Study

Brokerage firms have often speculated about how well teams perform from a profit and loss point of view, as well as how productive they are. In this research study, RealTrends answers these two big questions.

Proven Strategies for Accelerating eMortgage Adoption with Freddie Mac and Better

This webinar will cover how the industry is working to overcome challenges lenders experience in adopting eClosings. You’ll hear from industry leaders at Snapdocs, Freddie Mac and Better Mortgage. Register now!

Logan Mohtashami on existing home sales, mortgage rates

Today’s HousingWire Daily begins the Rundown miniseries where HousingWire’s Editor-in-Chief Sarah Wheeler and Lead Analyst Logan Mohtashami will talking about housing and economics every Monday.


Homepoint launches ARM products for brokers

In anticipation of mortgage rates creeping upwards, the lender announced the launch of SOFR ARMs products for the broker channel

Michigan-based wholesale lender Homepoint is the latest firm to announce that it is making five, seven and 10-year adjustable-rate mortgages available to its network of mortgage broker partners, a move designed to generate purchase business.

Earlier in November, United Wholesale Mortgage also announced a roll out of prime jumbo ARM products for its broker channel. And it is likely that other wholesale lenders will follow suite.

Homepoint on Monday said that the SOFR ARMs will adjust every six months after the initial rate expires and will feature a 1% cap at each adjustment to help minimize the rate fluctuation risk for borrowers.

The lender noted that SOFR ARMS “based on the latest industry-standard Secured Overnight Financing Rate, with an initial fixed-rate” can help borrowers better “qualify for, and afford, a home in today’s competitive market.”

“As the housing market continues to grow more purchase-heavy, we want to be on the front lines of offering mortgage brokers a greater variety of products so they can make more options available to a wider customer pool,” Phil Shoemaker, president of originations at Homepoint, said in a statement.

Here’s what brokers should know about non-QM heading into 2022

As non-QM lending increases in popularity, it’s a great opportunity for brokers to jump in and grow their business by offering a wider selection of loan products. So, what do brokers need to know about non-QM heading into 2022?

Presented by: HomeXpress

Shoemaker also added that “the availability of SOFR ARM products through Homepoint allows brokers to educate people on the potential advantages of adjustable-rate mortgages and strengthens brokers’ position as the go-to experts in their communities.”

Homepoint’s ARM options will be available on conventional and agency high-balance products, with a loan-to-value ratio up to 95% and interest rates, the lender said in a statement Monday.

Recently, Home Point Capital, parent entity of Homepoint, reported its third quarter earnings, posting a net income gain of $73 million—a significant improvement from the reported $73.2 million loss posted in the second quarter.

Homepoint also recently announced that it would be winding down its Ginnie Mae loan servicing business. In early November, Homepoint revealed that its third-quarter financials were boosted by $122 million in proceeds on the sale of mortgage-servicing rights, or MSRs, for an $11 billion portfolio of single-family mortgages serviced by Ginnie Mae.

In a separate SEC filing made in September, the lender revealed that the $11 billion portfolio represented about 41% percent of Homepoint’s “total Ginnie Mae mortgage-servicing portfolio as of June 30.” The buyer for that $11 billion MSR portfolio was Freedom Mortgage Corp.

Leave a Reply

Your email address will not be published. Required fields are marked *

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please