HMPT Home Point Capital
Filed: 3 Mar 21, 5:05pm
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 3, 2021 (March 2, 2021)
Home Point Capital Inc.
(Exact name of registrant as specified in its charter)
|(State or other jurisdiction of incorporation)||(Commission File Number)||(IRS Employer Identification No.)|
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
(Former name or former address, if changed since last report.)
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:
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a−12 under the Exchange Act (17 CFR 240.14a−12)|
|☐||Pre−commencement communications pursuant to Rule 14d−2(b) under the Exchange Act (17 CFR 240.14d−2(b))|
|☐||Pre−commencement communications pursuant to Rule 13e−4(c) under the Exchange Act (17 CFR 240.13e− 4(c))|
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol|
Name of each exchange on which
Common Stock, par value
$0.0000000072 per share
|HMPT||The Nasdaq Stock Market LLC|
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. ☐
On March 2, 2021, Home Point Financial Corporation (“HPF”), a wholly owned subsidiary of Home Point Capital Inc. (the “Company”), entered into Amendment No. 1 (the “Amendment”) to its Master Repurchase Agreement (the “Master Repurchase Agreement”), dated as of October 23, 2020, with Credit Suisse First Boston Mortgage Capital LLC (“CSFB”), as administrative agent, Credit Suisse AG, acting through its Cayman Islands Branch (“CSCIB”), as a buyer, Alpine Securitization LTD (“Alpine”), as a buyer, and the other buyers from time to time party thereto.
Pursuant to the terms of the Amendment, the maximum aggregate purchase price provided for in the Master Repurchase Agreement was increased from $700.0 million to $1.2 billion. The Amendment also extends the maturity date of the Master Repurchase Agreement to March 1, 2022 and effectuates certain other technical changes to the Master Repurchase Agreement.
Certain affiliates of CSFB, CSCIB and Alpine have performed commercial banking, investment banking or advisory services for the Company from time to time for which they have received customary fees and reimbursement of expenses. They 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.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment attached hereto as Exhibit 10.1, which is incorporated herein by reference.
|Item 2.03||Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.|
The information contained in Item 1.01 above is hereby incorporated in this Item 2.03 by reference.
|Item 9.01||Financial Statements and Exhibits.|
Amendment No. 1 to the Master Repurchase Agreement, dated as of March 2, 2021, by and among Credit Suisse First Boston Mortgage Capital LLC, as administrative agent, Credit Suisse AG, acting through its Cayman Islands Branch, as buyer, Alpine Securitization LTD, as buyer, and Home Point Financial Corporation, as seller.
|+||Certain portions of this exhibit have been redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K. The Company agrees to furnish supplementally an unredacted copy of the exhibit to the Securities and Exchange Commission upon its request.|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed by the undersigned hereunto duly authorized.
|HOME POINT CAPITAL INC.|
|Date: March 3, 2021|
|By:||/s/ Maria N. Fregosi|
|Name:||Maria N. Fregosi|
|Title:||Chief Investment Officer|