SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 15, 2023
Home Point Capital Inc.
(Exact Name of Registrant as Specified in its Charter)
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Delaware
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001-39964
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90-1116426
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(State or other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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2211 Old Earhart Road,
Suite 250
Ann Arbor, Michigan 48105
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (888) 616-6866
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Name of each exchange on which
registered
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Common Stock, par value $0.0000000072 per share
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HMPT
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The Nasdaq Stock Market LLC
(The Nasdaq Global Select Market)
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Termination of a Material Definitive Agreement
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On June 15, 2023, Home Point Financial Corporation (“HPF”), a wholly owned subsidiary of Home Point Capital Inc. (the “Company”), terminated the Mortgage Warehouse Agreement (the “TCB Repurchase Agreement”), dated as of September 1, 2021, by and
between HPF, as seller and Texas Capital Bank, formerly known as Texas Capital Bank, National Association (“TCB"). The TCB Repurchase Agreement provided for a maximum aggregate purchase price of $450 million. The parties mutually agreed to
terminate the TCB Repurchase Agreement prior to its scheduled maturity date of August 19, 2023. HPF did not incur any early termination penalties.
On June 15, 2023, HPF terminated the Master Loan Purchase and Servicing Agreement (EBO Program) (the “TCB EBO Repurchase Agreement”), dated as of August 6, 2020, by and between HPF, as seller and TCB, as EBO purchaser. The TCB EBO Repurchase Agreement
provided for a maximum aggregate purchase price of $88.5 million. The parties mutually agreed to terminate the TCB EBO Repurchase Agreement. HPF did not incur any early termination penalties.
TCB and
certain of its affiliates may, from time to time, engage in transactions with and perform services for the Company in the ordinary course of its business for which they may receive customary fees and reimbursement of expenses.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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HOME POINT CAPITAL INC.
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Date: June 16, 2023
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By:
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/s/ Jean Weng
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Name:
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Jean Weng
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Title:
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General Counsel
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