Item 8.01 Other Events.

On October 26, 2022, the Company announced that its Board of Directors authorized the repurchase of up to $200 million of its outstanding common stock. The stock repurchase plan will go into effect upon the completion of the Company's current program which has a remaining capacity of approximately $68 million. Additionally, the Company disclosed that it expects to take a charge in the fourth quarter of 2022 of $15-20 million to cover the costs of realigning capacity in its Originations segment, consolidating properties, and implementing other efficiency plans.

The repurchase program allows the Company to repurchase its common stock using open market stock purchases, privately negotiated transactions and trading plans. The number of shares repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, share price, trading volume and general market conditions, along with working capital requirements, general business conditions and other factors. The stock repurchase program may be suspended, modified or discontinued at any time at the Company's discretion.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. Our actual results could differ materially from those predicted or implied. Undue reliance should not be placed on the forward-looking statements in this Current Report on Form 8-K. We assume no obligation to update such statements.

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