The Loan Store to acquire wholesale originations business from Homepoint.

The Loan Store, a mortgage company that offers loans, agreed to acquire wholesale originations business from Homepoint, a mortgage lender offering an array of products including conventional home loans, reverse mortgages, FHA, VA, USDA loans and more. Financial terms were not disclosed. "Due to the tremendous effort of our associates and the support of our broker partners, we have built Homepoint from a startup to the third-largest wholesale lender. After careful consideration, and in light of current market conditions, we have decided to sell our wholesale originations business to The Loan Store. We believe this is the best decision for our company to continue to deliver value to Home Point shareholders,” Willie Newman, Homepoint President and CEO.