In January, loanDepot unveiled an ambitious plan to disrupt the homebuying process and position the national lender as a firm that can manage the entire real estate transaction.
That end-to-end customer experience is through a service called mello.
mello opened its HQ this week, its “Innovation Lab” as loanDepot puts is, out in Irvine, Calif. And what a launch it was. In fact, if other mortgage lenders want to claim to be in support of digital-first loan services, they’ll need one of these to even be taken seriously.
The timelapse video below shows the full extent of the loanDepot investment (more than $100 million!) in this initiative, and represents a clear strategy to go after the digital-first Millennial demographic.
“The space incorporates the spirit of fun, including a slide for when stairs are just too slow; open stadium seating for skunkworks-inspired sessions; and areas to relax with a quick game of ping pong or rest in quiet areas. As an added bonus, the Innovation Lab is just minutes away from gorgeous, world-class beaches and iconic Surf City USA,” explained loanDepot.
The mello ecosystem enables 3 foundational strategies:
- Consumers can run any mortgage or non-mortgage loan from application through funding from any device on their own or alongside local loan pros who can advise and co-pilot throughout the process
- Loan consultants licensed in all 50 states can seamlessly respond and advise in real time to the millions of consumers the company sources digitally
- Analytics on customers’ evolving needs throughout their home buying and owning lifecycle
Here’s just a taste of where that $100 million went, according to the company:
- mello features more than 90 wall displays and 700 personal monitors so our technologists have the world – and all its possibilities – at their fingertips throughout the site.
- mello is home to nearly 40 different kinds of energy-efficient lighting fixtures – many of which are LED.
- mello features a slide more than 30 feet in length – more than twice the length of a normal playground slide. (and it is fast!)
- mello contains more than 36 miles of custom data cable – enough to stretch from Newport Beach to beyond Catalina Island – all in mello’s purple and green brand
