loanDepot and imortgage signed an agreement to create a new combined retail mortgage lender, loanDepot confirmed in a press statement.
The partnership will create a diversified origination platform, with the newly formed entity representing more than $15 billion in annualized origination volume.
"Continued growth of independent mortgage lenders is vital to the recovery of the housing market," said loanDepot CEO and founder Anthony Hsieh.
"The collective financial strength and broad distribution capabilities create a unique platform that will effectively serve large and growing segments of the market," he added.
The new entity will have licenses in all 50 states, a total of 60 branches and more than 2,200 employees.
