ANN ARBOR, Mich., June 3, 2020 /PRNewswire/ -- Home Point Financial, one of the nation's leading mortgage lenders and servicers, today announced they are the second-largest wholesale mortgage lender for residential loans in the U.S. with year-over-year growth of more than 400%, according to Inside Mortgage Finance. Home Point has advanced to the thirteenth largest correspondent lender and is a Top 20 national mortgage lender across all production channels. Loan volume has nearly doubled each calendar year since the company's launch in 2015 and is expected to more than double to $50+ billion in 2020.
"Home Point's exceptional growth stems from our ability to fully focus on being the best ally to our broker and correspondent partners because we do not have the distraction of a retail channel," said Phil Shoemaker, President of Originations at Home Point Financial. "Our partners are then empowered to offer their customers tremendous cost savings and phenomenal service with local expertise that helps eliminate the stress of financing and owning a home. We're proud of our people – and consistently hear that Home Point shines because of the care we offer to each customer and every loan that our partners entrust to us."
Several factors have contributed to Home Point's record growth:
The Best Partner for Third-Party Originators
Home Point does not have a "brick and mortar" retail channel. Instead, the company leverages all energy and resources toward being the absolute best partner to brokers and correspondents. Home Point is known for providing an exceptional customer experience while offering competitive pricing and rates. Home Point's streamlined process, paired with the best associates in the industry, builds trusted lifetime relationships.
Going Beyond the Loan
Home Point delivers a lifetime of customer value to its partners, helping them build and maintain a sustainable business with customers throughout the lifetime of their mortgage. Uniquely, Home Point retains over 99% of the loans it originates for servicing. In 2019, the company debuted its Customer for Life initiative to help loan officers earn repeat business by staying connected to customers. This commitment ensures each customer interaction becomes an opportunity for partners to maintain a strong connection, providing a greater opportunity to work with them on the next transaction.
Empowering Our Partners
Home Point's highly-skilled associates are some of the best in the industry and create a trusted experience for business partners. Each partner has a knowledgeable Home Point concierge team that understands their local market and can solve problems on the spot to ensure a loan stays on track. The company's organizational structure and culture is nimble and empowers associates to offer exceptional service -- something rarely found in a wholesale or correspondent environment.
About Home Point Financial
Home Point is on a mission to create financially healthy, happy homeowners. Our customer-first approach to lending starts with compassionate people that help eliminate the stress of getting a loan and owning a home. Beyond the loan, Home Point empowers customers to get the most value from their home investment by offering expert advice and exclusive savings. Home Point is the second-largest wholesale lender and the 13th largest correspondent lender in the U.S. The company is headquartered in Ann Arbor, MI with nearly 2000 employees and 265,000 serviced customers. For more information, visit homepointfinancial.com.
SOURCE Home Point Financial Corporation