Today, I am excited to announce the “Asset Sale”, of Platinum Mortgage, Inc Third Party Origination's Sales and Operations Units to Home Point Financial Corporation, Ann Arbor, Michigan.

The integration of the Platinum Mortgage TPO Sales and Operations Staff with Home Point Financial Corporation’s platform will provide state of the art LOS technology, marketing, pricing and an expanded product mix for our clients. Home Point Financial Corporation is ready to support all Platinum Mortgage customers just as Platinum has for the past 12+ years.

This partnership creates synergies with sales penetration and operations coverage to grow market share by providing an exceptional service experience for our partners and their customers with the integration to Home Point Financial Corporation. This merger will allow existing Platinum Mortgage TPO clients a new level of financial strength, technology, marketing tools, products and pricing they need to compete into today's markets combined with the customer service and execution from the Platinum Mortgage operations team they expect.

The transaction will be finalized April 15, 2019. Platinum Mortgage clients will continue to deliver and submit both wholesale and non-delegated correspondent business to the Madison, Alabama corporate operations center. It is "Business as Usual" at Platinum Mortgage. There are NO changes to the existing pipeline of loans as these loans will continue to be submitted and closed under the current Platinum Mortgage Platform. It is also important to note, that loans in the current Platinum Pipeline will get full operations support and service to close these loans with the same level of customer service, enthusiasm, care and experience.

In conclusion, I want to thank all of our clients, partners, brokers, loan officers and employees for all the hard work, dedication, commitment and continued support over the past 12+ years. Platinum Mortgage has achieved some great things as one of the last independent TPO mortgage bankers but the time is now to combine our sales and operations efforts with the financial strength, technology, marketing and pricing that a top-of-class company such as Home Point Financial Corporation will provide to our committed employees, clients and customers.

Platinum will continue to close out all your loans currently in the Platinum pipeline through May 31st.

New Loan Submissions to Platinum

April 15th will be the LAST DAY to submit a New Loan to Platinum

Platinum Loans locked but NOT SUBMITTED

Submit LOCKED loans with Platinum until April 30, 2019

Platinum Loans Submitted but NOT LOCKED

LOCK all loans that are submitted but NOT locked till April 30, 2019

Last Day to Close a Platinum Loan

Last day to close a loan in Platinum pipeline will be May 31, 2019

Again, thank you all for supporting Team Platinum over the years. It has been a pleasure to work with each of you for a common goal… Please continue to support our team through Home Point Financial Corporation

Terry Clark-CEO Platinum Mortgage


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