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Home Point Securities Settlement

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WELCOME TO THE HOME POINT SECURITIES SETTLEMENT WEBSITE

This website has been established to provide general information related to the
proposed Settlement of the class action lawsuit referred to as In re Home Point
Capital Inc. Securities Litigation, Civ. No. 4:21-cv-11457-SDK-KGA (the
“Action”), and pending before the Honorable Shalina D. Kumar in the United
States District Court for the Eastern District of Michigan, Southern Division
(the “Court”). The capitalized terms used on this website, and not otherwise
defined, shall have the same meanings ascribed to them in the Stipulation of
Settlement (the "Stipulation") dated September 14, 2023, which can be found and
downloaded by clicking on the Case Documents tab above.

The law firm of Robbins Geller Rudman & Dowd LLP represents you and other
Settlement Class Members. These lawyers are called Lead Counsel. You will not be
charged for these lawyers. They will be paid from the Settlement Fund to the
extent the Court approves their application for fees and expenses. If you want
to be represented by your own lawyer, you may hire one at your own expense.


WHAT IS THIS LAWSUIT ABOUT?

As more fully described in the Notice of Pendency and Proposed Settlement of
Class Action (the "Notice"), the Plaintiff filed the operative Amended Class
Action Complaint (“Complaint”) on November 9, 2021, alleging violations of §§11
and 15 of the Securities Act of 1933 (the “Securities Act”). More specifically,
Plaintiff alleged that the offering documents associated with Home Point’s
January 29, 2021 initial public offering (the “IPO”) (collectively, the
“Offering Documents”) included false and misleading statements that (i) Home
Point’s wholesale mortgage lending operations were low-cost and highly
efficient, and (ii) misleadingly omitted Home Point’s expectation that interest
rates would increase and adversely affect the Company’s wholesale margins.
Plaintiff further alleged that, on May 6, 2021, Home Point announced its
financial results for the first quarter of 2021, including disappointing margin
and cost results. Plaintiff alleged that, as a result, Home Point’s stock price
fell nearly 18% on May 6, 2021, and continued to fall on May 7 and 10, 2021,
causing damages to Plaintiff and other members of the class.

If you purchased or otherwise acquired Home Point common stock in Home Point’s
IPO, or purchased Home Point common stock after the IPO and on or before June
21, 2021 in the stock market pursuant and/or traceable to the Company’s Offering
Documents issued in connection with the IPO, and were alleged to be damaged
thereby, you are a Settlement Class Member. Excluded from the Settlement Class
are Defendants, the officers and directors of the Company, members of the
Individual Defendants’ immediate families and their legal representatives,
heirs, predecessors, successors or assigns, and any entity in which the officers
and directors of the Company have or had a controlling interest. Also excluded
from the Settlement Class is any Person who would otherwise be a Member of the
Settlement Class but who validly and timely requests exclusion in accordance
with the requirements set forth in the Notice.


WHAT DOES THE SETTLEMENT PROVIDE?

The Settlement provides that, in exchange for the release of the Released Claims
(defined in the Notice) and dismissal of the Litigation with prejudice, Home
Point will pay or cause to be paid $5,000,000 in cash to be distributed after
Taxes, Tax Expenses, Notice and Administration Expenses, and any Court-approved
attorneys’ fees and expenses and Lead Plaintiff award, pro rata, to Settlement
Class Members who send in a valid Proof of Claim form pursuant to the
Court-approved Plan of Allocation. The Plan of Allocation is described in more
detail in the Notice.


ADDITIONAL INFORMATION

Although the information on this website is intended to assist you, it does not
replace the information contained in the Notice and the Stipulation, both of
which can be found and downloaded by clicking on the Case Documents tab above.
We recommend that you read the Notice and other relevant case documents
carefully. You may also wish to read the answers to Frequently Asked Questions
provided on this website.


YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A PROOF OF CLAIM FORM

The only way to be eligible to receive a payment from the Settlement. Proof of
Claim forms must be postmarked or submitted online on or before April 15, 2024.

EXCLUDE YOURSELF 

Get no payment. This is the only option that potentially allows you to ever be
part of any other lawsuit against the Defendants or any other Released Defendant
Parties (as defined in the Notice) about the legal claims being resolved by this
Settlement. Should you elect to exclude yourself from the Settlement Class you
should understand that Defendants and the other Released Defendant Parties will
have the right to assert any and all defenses they may have to any claims that
you may seek to assert, including, without limitation, the defense that any such
claims are untimely under applicable statutes of limitations and statutes of
repose. Exclusions must be postmarked on or before April 23, 2024.

OBJECT

Write to the Court about why you do not like the Settlement, the Plan of
Allocation, and/or the request for attorneys’ fees and expenses. You will still
be a Member of the Settlement Class. Objections must be received by the Court
and counsel on or before April 23, 2024. If you submit a written objection, you
may (but do not have to) attend the hearing.

GO TO THE HEARING ON MAY 14, 2024

Ask to speak in Court about the fairness of the Settlement. Requests to speak
must be received by the Court and counsel on or before April 23, 2024.

DO NOTHING



Receive no payment. You will, however, still be a Member of the Settlement
Class, which means that you give up your right to ever be part of any other
lawsuit against the Defendants or any other Released Defendant Party about the
legal claims being resolved by this Settlement and you will be bound by any
judgments or orders entered by the Court in the Litigation.





IMPORTANT DATES AND DEADLINES

Submit Proof of Claim: April 15, 2024 Request Exclusion: April 23, 2024 Submit
Objection: April 23, 2024 File Notice of Intention to Appear: April 23, 2024
Settlement Hearing: May 14, 2024

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