HMPT - Home Point Capital Cuts Costs As It Contends With Challenging 2022 Year
- Home Point Capital went public in January 2021, raising $94 million for selling shareholders in an IPO.
- The firm originates and services residential home mortgages in the U.S.
- HMPT has seen sharply lower refinance volumes and is hunkering down with a focus on cost-cutting for 2022.
- Given near-term prospects for higher inflation and interest rates resulting in further demand destruction amid industry overcapacity, I'm on Hold for HMPT.
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Home Point Capital Cuts Costs As It Contends With Challenging 2022 Year