Weeks after announcing a round of layoffs, wholesale lender Homepoint disclosed a $73 million net loss in the second quarter of 2021.
Homepoint, based out of Ann Arbor, Michigan, originated $25.5 billion worth of mortgages in the second quarter, according to its quarterly earnings statement. That’s more than double what it did a year ago, but was also down from $29 billion in originations in the first quarter of 2021.
The lender’s gain-on-sale margin fell 79% from a year ago, down to just 58 basis points. That’s a far cry from even the first quarter, when Homepoint’s margin checked in at 147 basis points. Pressures are everywhere, it would seem.