{"id":455516,"date":"2021-03-11T06:03:31","date_gmt":"2021-03-11T11:03:31","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=455516"},"modified":"2021-03-11T06:03:31","modified_gmt":"2021-03-11T11:03:31","slug":"home-point-capital-reports-fourth-quarter-and-full-year-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/home-point-capital-reports-fourth-quarter-and-full-year-2020-financial-results\/","title":{"rendered":"Home Point Capital Reports Fourth Quarter and Full Year 2020 Financial Results"},"content":{"rendered":"
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\n \u2013Record Quarterly Origination Volume of $24 Billion, Up 189% Year-Over-Year\u2013\u00a0
<\/em>
\n \u2013Quarterly Net Revenue More Than Quadrupled Year-Over-Year to $455 Million\u2013\u00a0
<\/em>
\n \u2013Fourth Quarter Net Income of $184 Million; $1.33 per Share\u2014<\/em>\n <\/p>\n

ANN ARBOR, Mich., March 11, 2021 (GLOBE NEWSWIRE) — Home Point Capital Inc. (NASDAQ: HMPT) (together with its subsidiaries, \u201cHome Point Capital\u201d or the \u201cCompany\u201d), the parent entity of Home Point Financial Corporation (\u201cHomepoint\u201d), today announced its financial results for the fourth quarter and full year ended December 31, 2020.<\/p>\n

\u201cOur results for the fourth quarter of 2020 capped a transformative year for Home Point Capital, driven by record performance across our originations platform in every dimension,\u201d said Willie Newman, President and Chief Executive Officer. \u201cDuring 2020 Home Point Capital generated origination volume of $62 billion, including $24 billion in the fourth quarter. Our growth was primarily driven by our wholesale channel, where we doubled our market share versus 2019. This performance highlights the impact of our differentiated business model.\u201d<\/p>\n

\u201cThe positive momentum we generated in 2020 has enabled us to enter 2021 in a position of significant strength, and the recent completion of Home Point Capital\u2019s initial public offering marks an important milestone in the evolution of our company. I would like to thank all of Home Point Capital\u2019s constituents \u2013 our associates, our partners, our customers and our shareholders in promoting our principles and pursuing our mission of creating financially healthy, happy homeowners.\u201d<\/p>\n

\n Fourth Quarter and Full Year 2020 Financial Summary <\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n ($mm, except per share values)<\/em>\n <\/td>\n\u00a0<\/td>\n\n For the quarter ended<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n For the year ended 12\/31<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 12\/31\/2020<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 9\/30\/2020<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 12\/31\/2019<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTotal Originations<\/td>\n\u00a0<\/td>\n$<\/td>\n23,956<\/td>\n\u00a0<\/td>\n$<\/td>\n18,120<\/td>\n\u00a0<\/td>\n$<\/td>\n8,276<\/td>\n\u00a0<\/td>\n$<\/td>\n62,001<\/td>\n\u00a0<\/td>\n$<\/td>\n22,268<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nGain on sale margin (bps)1<\/sup><\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n176<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n278<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n77<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n223<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n90<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nServicing portfolio – Units<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n359,323<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n307,236<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n236,362<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n359,323<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n236,362<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nServicing portfolio – UPB<\/td>\n\u00a0<\/td>\n$<\/td>\n91,483<\/td>\n\u00a0<\/td>\n$<\/td>\n73,951<\/td>\n\u00a0<\/td>\n$<\/td>\n52,601<\/td>\n\u00a0<\/td>\n$<\/td>\n91,483<\/td>\n\u00a0<\/td>\n$<\/td>\n52,601<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTotal revenue, net<\/td>\n\u00a0<\/td>\n$<\/td>\n455.1<\/td>\n\u00a0<\/td>\n$<\/td>\n510.4<\/td>\n\u00a0<\/td>\n$<\/td>\n96.8<\/td>\n\u00a0<\/td>\n$<\/td>\n1,377.2<\/td>\n\u00a0<\/td>\n$<\/td>\n199.7<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTotal expenses<\/td>\n\u00a0<\/td>\n$<\/td>\n224.2<\/td>\n\u00a0<\/td>\n$<\/td>\n163.0<\/td>\n\u00a0<\/td>\n$<\/td>\n76.2<\/td>\n\u00a0<\/td>\n$<\/td>\n588.6<\/td>\n\u00a0<\/td>\n$<\/td>\n241.1<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNet income (loss)<\/td>\n\u00a0<\/td>\n$<\/td>\n184.5<\/td>\n\u00a0<\/td>\n$<\/td>\n264.0<\/td>\n\u00a0<\/td>\n$<\/td>\n16.1<\/td>\n\u00a0<\/td>\n$<\/td>\n607.0<\/td>\n\u00a0<\/td>\n$<\/td>\n(29.2<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\nNet income (loss) per share2<\/sup><\/td>\n\u00a0<\/td>\n$<\/td>\n1.33<\/td>\n\u00a0<\/td>\n$<\/td>\n1.90<\/td>\n\u00a0<\/td>\n$<\/td>\n0.12<\/td>\n\u00a0<\/td>\n$<\/td>\n4.45<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.21<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n (1) Calculated as gain on sale, net, divided by Origination volume.<\/em>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n (2) On January 21, 2021, Home Point Capital effected a stock split of its outstanding common stock pursuant to which the 100 outstanding shares were split into 1,388,601.11 shares each, for a total of 136,860,103 shares of outstanding common stock. As a result, all amounts relating to per share amounts have been retroactively adjusted to reflect this stock split.<\/em>\n <\/td>\n<\/tr>\n<\/table>\n

\n Fourth Quarter 2020 Highlights <\/strong>\n <\/p>\n