Item 1.02 Termination of a Material Definitive Agreement
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.
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