Tri Pointe Homes exercises option to buy minority interest in mortgage JV with loanDepot

Tri Pointe Homes, Inc.

On Sept 15, 2023, Tri Pointe exercised option to buy loanDepot's minority stake in Tri Pointe Connect LLC mortgage JV.
Expected closing Feb 1, 2024; TPC to become wholly owned subsidiary and commence mortgage lending operations.
TPC previously served as preferred mortgage broker for Tri Pointe homebuyers; post-close will originate loans.
Purchase price and stake size were not disclosed in the filing.

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