HomeXpress Mortgage Corp. has released its audited consolidated financial statements for the years ended December 31, 2024 and 2023. The financial statements reveal significant changes in several key metrics compared to the previous year.
In terms of assets, the company reported a substantial increase in cash and cash equivalents, with the amount standing at $42,707,343 in 2024 compared to $26,839,052 in 2023. Additionally, mortgage loans held-for-sale at fair value also experienced a noteworthy uptick, reaching $576,859,380 in 2024, up from $432,874,205 in 2023.
Moving on to revenues, HomeXpress Mortgage Corp. reported a considerable surge in gain on origination and sale of loans, net, which amounted to $79,353,215 in 2024, significantly higher than the $34,091,459 reported in 2023. Similarly, interest income also saw a substantial increase, reaching $34,627,624 in 2024 compared to $23,843,311 in 2023.
On the expenses front, the company's compensation and benefits, interest expense, and general and administrative expenses all increased in 2024 compared to 2023.
The net income for HomeXpress Mortgage Corp. also experienced a significant rise, reaching $33,547,418 in 2024, a considerable increase from the $6,032,779 reported in 2023.
In terms of stockholder's equity, the company saw an increase, with the total stockholder's equity amounting to $108,437,845 in 2024 compared to $74,890,427 in 2023.
As a result of these announcements, the company's shares have moved 0.22% on the market, and are now trading at a price of $13.42. If you want to know more, read the company's complete 8-K report here.
