loanDepot

loanDepot, Inc. engages in the consumer lending business. It provides personal and home equity loans. The company was founded by Anthony Hsieh on July 10, 2015 and is headquartered in Irvine, CA.

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loanDepot exceeds expense reduction goals and targets growth in underserved markets

loanDepot's Q4 2022 earnings call showcased strong financial performance, strategic initiatives, and a focus on operational excellence. Despite market challenges, the company remains committed to driving shareholder value through innovative solutions and cost reduction efforts.

loanDepot reports strong Q1 performance amidst housing market challenges

loanDepot's Q1 2023 performance showed revenue growth, cost reduction, and progress on strategic goals. Challenges in the housing market and operational expenses were addressed, with opportunities identified for future growth.

loanDepot reports robust Q2 earnings, eyes growth amid expense challenges

loanDepot's Q2 2023 earnings call highlighted strong financial performance, progress on its Vision 2025 plan, and a focus on supporting diverse homebuyers. While facing challenges with increased expenses, the company aims to invest in growth opportunities and maintain strong liquidity for future expansion.

loanDepot reports stable Q3 revenues, eyes growth through efficiency

loanDepot's Q3 performance highlighted stability in revenues, improved margins, and cost reduction efforts leading to lower operating losses. While facing challenges in origination volume, the company's focus on efficiency improvements and growth initiatives under the Vision 2025 plan sets the stage for future opportunities and profitability.

loanDepot narrows losses, focuses on growth and efficiency in 2023

loanDepot's Q4 2023 performance showcased a strategic focus on cost reduction, revenue growth, and operational efficiency amidst market challenges and opportunities.
Vision 2025 initiatives position loanDepot as a trusted partner in homeownership, with investments in automation and customer experience enhancing its competitive edge.
While facing challenges such as restructuring costs and market dynamics, loanDepot's strategic direction and focus on growth present opportunities for expansion and profitability.

loanDepot reports revenue growth and cost efficiency amidst cyber challenges

loanDepot navigated the challenges of a cyber incident to achieve revenue growth and expense reduction in Q1 2024.
Strategic focus on Vision 2025 goals and servicing income growth indicate a resilient and forward-thinking approach to business.
While facing short-term challenges from the cyber incident and financial restructuring, loanDepot is poised to capitalize on opportunities for long-term growth and stability.

loanDepot reports improved Q2 performance and outlines growth strategies

loanDepot's Q2 2024 performance showed significant improvement with positive adjusted EBITDA and reduced net loss.
The company's strategic focus on Vision 2025, market expansion, and financial stability positions it for future growth.
While facing challenges such as market uncertainties and cybersecurity risks, loanDepot remains proactive in addressing risks and seizing opportunities.

loanDepot reports Q3 profitability, eyes growth through strategic initiatives

loanDepot's Q3 performance reflected profitability driven by increased origination volumes and margin expansion.
Strategic initiatives like Vision 2025 and Project North Star are positioning the company for sustainable growth and operational efficiency.
While facing challenges in managing expenses and optimizing profitability, loanDepot has opportunities for revenue growth and business development.

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loanDepot, Inc. engages in the business of originating, financing, selling, and servicing residential mortgage loans, title, escrow, and settlement services for mortgage loan transactions. It also offers a variety of loan products and in-house servicing platforms. The company was founded by Anthony Hsieh in December 2009 and is headquartered in Irvine, CA.

IRVINE, Calif. , Feb. 2, 2023 /PRNewswire/ -- loanDepot, Inc. (NYSE: LDI) ("loanDepot" or the "Company"), one of the nation's largest non-bank retail mortgage lenders, today issued the following statement from CEO Frank Martell on the news that Pamela Hughes Patenaude, an independent director on the Company's Board of Directors, has been appointed as the Chair of the Home Builders Institute's (HBI) Board of Trustees.

loanDepot Director Pamela Hughes Patenaude Named Board Chair of Home Builders Institute

Black Knight

loanDepot will begin migration to Black Knight's cloud-based version of the Empower loan origination system (LOS) in mid-2023, with conversion expected to be complete in 2024 Empower will complement loanDepot's proprietary mello ecosystem, ensuring the company continues to delight customers and provide best-in-class tools to originators and loan professionals Leveraging Black Knight's expertise and system flexibility, loanDepot's migration to Empower is expected to reduce the company's cost to produce and further increase efficiency and quality JACKSONVILLE, Fla. , Jan. 19, 2023 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE:BKI) announced it will be integrated with loanDepot's next generation of lending services as the company migrates some of its backend operations to Black Knight's scalable and secure cloud-based Empower loan origination system (LOS).

Industry Leader Black Knight to Help Fuel loanDepot's Next Generation of Lending Services

Index includes the most powerful people in the residential real estate industry IRVINE, Calif. , Jan. 18, 2023 /PRNewswire/ -- loanDepot, Inc.'s ("LDI" or "Company") (NYSE: LDI) Founder and Executive Chairman Anthony Hsieh and President and CEO Frank Martell were recognized on Inman's inaugural 2023 "Power Player" list, which salutes the most innovative and influential leaders "whose ingenuity, strength, conviction and persistence are driving change across the real estate industry.

loanDepot's Anthony Hsieh and Frank Martell recognized among Inman's 2023 "Power Players"

IRVINE, Calif. , Dec. 21, 2022 /PRNewswire/ -- In a significant legal victory for loanDepot ("LDI") (NYSE: LDI), the United States District Court for the Northern District of Illinois (the "Court") yesterday granted LDI a preliminary injunction against CrossCountry Mortgage, LLC and six former loanDepot employees now employed by CrossCountry (the "Defendants").

loanDepot wins preliminary injunction against CrossCountry Mortgage

Amid inflation and rising consumer debt, findings show American households would put their HELOC funds to use quickly, ranking home upgrades and renovations as the top use IRVINE, Calif. , Dec. 15, 2022 /PRNewswire/ -- A new survey from loanDepot, one of the nation's largest non-bank retail mortgage lenders, shows an opportunity for American homeowners to better utilize their home equity to manage pain points due to inflation, rising consumer debt, and other financial concerns.

New survey from loanDepot illustrates how Home Equity Lines of Credit (HELOCs) can alleviate financial pressures for American homeowners

Tools include credit monitoring, home search, access to real estate professionals, and educational resources First-time homebuyers can get pre-approved and receive up to $4,500 in cash and incentives IRVINE, Calif. , Nov. 16, 2022 /PRNewswire/ -- Sustained housing shortages, elevated home prices, soaring interest rates and inflation continue to erode home affordability, and disproportionately impact first-time homebuyers.

loanDepot supports first-time buyers with dedicated portal that propels them on the path to homeownership

FOOTHILL RANCH, Calif. , Nov. 11, 2022 /PRNewswire/ -- VA home loans may offer a host of important advantages to United States Military veterans and active-duty servicemen and women, but persistent misperceptions and misunderstanding often prevent their use by those who are intended to benefit.

loanDepot forms VA Council to serve US military veterans and active-duty service members on the path to home ownership

loanDepot (LDI) delivered earnings and revenue surprises of -42.31% and 1.38%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

LoanDepot (LDI) Reports Q3 Loss, Tops Revenue Estimates

loanDepot, Inc. (NYSE:LDI ) Q3 2022 Earnings Conference Call November 8, 2022 5:00 PM ET Company Representatives Frank Martell - President, Chief Executive Officer Patrick Flanagan - Chief Financial Officer Jeff DerGurahian - Chief Capital Markets Officer Jeff Walsh - LDI mortgage President Gerhard Erdelji - Senior Vice President, Investor Relations Conference Call Participants Doug Harter - Credit Suisse Blake Netter - Morgan Stanley Trevor Cranston - JMP Securities Kyle Joseph - Jefferies Operator Good afternoon and welcome everyone to loanDepot's Third Quarter 2022 Conference Call. All lines have been placed on mute to prevent any background noise.

loanDepot, Inc. (LDI) Q3 2022 Earnings Call Transcript

Decreased net loss by 39% on expense reduction; increased cash balances by 20% to $1.14 billion Lower market volumes and the exit of wholesale channel fueled revenue decrease of $34.4 million, or 11%. Reduced total expenses by $125.5 million, or 22%, from second quarter primarily driven by right-sizing staffing levels, reduced marketing spend, and lower third-party costs.

loanDepot announces third quarter 2022 financial results

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Last week, home-selling platform Opendoor blamed "one of the most challenging real estate markets in 40 years" as it laid off 550 workers, and Wells Fargo is reportedly eyeing thousands of job cuts.

Housing Market Braces For Rising Layoffs ‘Soon' As Mortgage Lenders, Home Sellers Cut Thousands Of Jobs

Innovative new option gives homeowners fast and frictionless access to financing during all of life's critical moments FOOTHILL RANCH, Calif. , Nov. 3, 2022 /PRNewswire/ -- loanDepot, Inc. ("LDI" or "Company") (NYSE: LDI), one of the nation's largest non-bank retail mortgage lenders, today introduced an innovative digital home equity line of credit (HELOC).

loanDepot's ground-breaking digital home equity line of credit (HELOC) takes customers from quote to close in as little as seven days

New joint venture seeks to bring the American dream of homeownership to more individuals and families across the country FOOTHILL RANCH, Calif. , Nov. 2, 2022 /PRNewswire/ -- loanDepot, one of the nation's largest non-bank retail mortgage lenders, today announced the formation of NHC Mortgage, a new joint venture with National HomeCorp, a Georgia-based homebuilder specializing in affordable single-family homes co-founded by industry veteran Wade Jurney.

loanDepot and National HomeCorp launch NHC Mortgage

loanDepot has seen its business being decimated amidst rapidly rising interest rates. Losses are substantial as the near-term outlook for the mortgage market is simply very dire.

loanDepot: Not Adding To The Depot

FOOTHILL RANCH, Calif. , Oct. 20, 2022 /PRNewswire/ -- loanDepot, Inc. (NYSE: LDI) (together with its subsidiaries, "loanDepot" or the "Company"), today announced that the Company will release its third quarter 2022 financial results on November 8, 2022, after market close.

loanDepot, Inc. to report third quarter 2022 financial results on November 8, 2022

"Big Papi" coached kids on all things baseball and the meaning of home in celebration of the Club's Wilmington Athletic Complex opening Renovation of long-neglected little league facility was the culmination of loanDepot's "Home Means Everything" Campaign as Official Mortgage Provider of Major League Baseball and Presenting Sponsor of the ALCS and NLCS LOS ANGELES , Oct. 18, 2022 /PRNewswire/ -- loanDepot, the Official Mortgage Provider of Major League Baseball, has partnered with the Boys & Girls Clubs of the Los Angeles Harbor (BGCLA Harbor) to renovate the baseball field and facilities at the 18-acre Wilmington Athletic Complex, which officially opened Monday. To celebrate, loanDepot enlisted Baseball Hall of Famer and World Series Champion David Ortiz to share his expertise and mentorship with kids from the club.

MLB Legend David Ortiz and loanDepot unveil field of dreams for youth at Boys & Girls Clubs of the Los Angeles Harbor

Accomplished leader with extensive financial services experience to lead legal functions FOOTHILL RANCH, Calif. , Sept. 14, 2022 /PRNewswire/ -- loanDepot, Inc. (NYSE: LDI) ("loanDepot" or the "Company"), a leading consumer lending and real estate services provider, today announced Gregory Smallwood has joined the Company as chief legal officer (CLO) and Corporate Secretary, effective immediately.

loanDepot names Gregory Smallwood chief legal officer

Honor reflects Sidi's cumulative work and dedication as a leader in the Real estate lending and fintech industries FOOTHILL RANCH, Calif. , Sept. 13, 2022 /PRNewswire/ -- Zeenat Sidi, loanDepot Inc.'s president of Digital Products and Services, will receive the Asian American Business Development Center's (AABDC) 2022 "Outstanding 50 Asian Americans in Business" award recognizing excellence in corporate professionals and entrepreneurs.

loanDepot's Zeenat Sidi to receive "Outstanding 50 Asian Americans in Business" award

Proven leader with extensive experience in compliance and risk management to lead loanDepot's enterprise risk management program FOOTHILL RANCH, Calif. , Sept. 12, 2022 /PRNewswire/ -- loanDepot, Inc. (NYSE: LDI) ("loanDepot" or the "Company"), a leading consumer lending and real estate services provider, today announced the appointment of Joseph Grassi as chief risk officer, effective immediately.

loanDepot appoints Joseph Grassi as chief risk officer

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loanDepot is reorganizing its business to concentrate on what it does best.

Here's Why loanDepot Is Reducing Its Mortgage Banking Footprint

Loandepot, Inc. (NYSE:LDI ) Q2 2022 Earnings Conference Call August 9, 2022 5:00 PM ET Company Participants Gerhard Erdelji - SVP, IR Frank Martell - CEO, President & Director Patrick Flanagan - CFO Conference Call Participants Douglas Harter - Crédit Suisse Trevor Cranston - JMP Securities Kevin Barker - Piper Sandler & Co. Patrick McIlwee - William Blair & Company Kyle Joseph - Jefferies Mark DeVries - Barclays Bank Operator Good afternoon and welcome everyone to loanDepot's Second Quarter 2022 Conference Call. [Operator Instructions].

Loandepot, Inc. (LDI) CEO Frank Martell on Q2 2022 Results - Earnings Call Transcript

Vision 2025 Plan launched to simplify business model and accelerate cost reduction, providing pathway for run-rate profitability by year-end 2022 and long-term value creation Revenue of $308.6 million, and diluted loss per share of $0.66, driven principally by lower origination volumes and profit margins, partially offset by higher servicing revenues. Expenses decreased by $45.6 million, or 8%, on pace to achieve targeted annualized expense savings of $375 million to $400 million during second half of 2022.

loanDepot announces second quarter 2022 financial results

FOOTHILL RANCH, Calif. , Aug. 2, 2022 /PRNewswire/ -- loanDepot, Inc. (NYSE: LDI) (together with its subsidiaries, "loanDepot" or the "Company"), the nonbank lending innovator that is transforming the mortgage industry, today announced that the Company will release its second quarter 2022 financial results on August 9, 2022 after market close.

News for loanDepot Stock (LDI)