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  "presentationDate": "2023-11-01 00:00:00",
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      "text": "Technology & Business Model Competitive Advantage\nEnd-to-end proprietary origination technology powers faster, cheaper customer experience, lower manufacturing costs, and industry-leading products\nMultiple distribution channels - D2C and B2B Partners (\"Mortgage-as-a-Service\")\nReduced balance sheet and credit risk with 96% of our Total Loans eligible for purchase by GSEs",
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      "text": "Demonstrated Growth & Discipline\nGrew Funded Loan Volume 10x from 2019-2021 to $100+ billion of loans originated, and have since scaled down volume\nScaled down to address market conditions, shrinking Total Expenses 74% year-over-year, removing $1B + in annualized Total Expenses in the nine months ending September 30, 2023 vs. 20221\nDemonstrated cost reduction execution with expenses declining more than revenue year-over-year in Q3 2023",
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      "text": "Large and Attractive Market Opportunity\nThrough cycles, U.S. home finance market is $3 trillion per year\nExisting process is manual, costly and slow\nDigital disruption is underway and accelerating",
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      "text": "Well-Capitalized and Positioned for the Future\nEnding Q3 2023 with $584 million of cash and short-term investments2\nClear product roadmap and defined growth initiatives supported by differentiated technology and existing strengths",
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      "text": "1. Total Expenses in the nine months ending September 30, 2023 of $291 million ($388 million annualized). Total Expenses in the nine months ending September 30, 2022 of $1,110 million ($1,480 million annualized). Represents $1,092\nmillion annualized Total Expenses reduction year-over-year between the comparison nine-month periods. Annualized values calculated by multiplying the nine month amounts by four-thirds to reach run-rate full year value.\n2. Includes cash and cash equivalents, restricted cash and short-term investments",
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