loanDepot
LoanDepot is one of the nation’s largest online mortgage lenders, most recently ranking No. 3 in retail lending through the third quarter of 2021. The company was founded in 2010 by Anthony Hsieh, an industry veteran who had launched and sold two mortgage lenders prior to launching loanDepot. Now, the company has more than 10,000 employees and serves more than 27,000 customers each month. Headquartered in Lake Forest, California, loanDepot went public in February 2021 and is publicly traded on the NYSE under the ticker LDI.
LoanDepot has made it a priority to provide customers with a digital mortgage experience that makes the process fast and easy. By utilizing its proprietary Mello software platform, loanDepot uses machine learning to streamline the mortgage process for customers. It gives customers an end-to-end fully digital mortgage experience that seamlessly collects income, employment, and asset information.
In September 2021, Hsieh compared loanDepot to Rocket Mortgage, saying “We are the Lyft to their Uber.” Hsieh believes that loanDepot’s unique mix of a recognizable brand, leading tech platform, and on-the-ground presence will set it apart from its competitors beyond the current interest rate cycle.
LoanDepot made headlines in 2021 for filing a lawsuit against seven former employees and their new employer, CrossCountry Mortgage, for allegedly stealing client lists and funneling business away from loanDepot prior to their departure.
Latest Posts
LoanDepot increases market share, but profits sink in Q2
Aug 03, 2021LoanDepot says it’s winning market share, but the lender’s gain-on-sale margin and net income both fell significantly in the second quarter of 2021.
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LoanDepot adds former HUD deputy secretary to board
Jul 30, 2021 -
LoanDepot gaining market share as profits narrow
May 05, 2021 -
Brian Covey to speak at Engage Marketing June 17
May 05, 2021 -
LoanDepot forms JV with homebuilder LGI Homes
Apr 30, 2021 -
LoanDepot’s profit margins keep dropping
Mar 25, 2021 -
LoanDepot launches JV with another homebuilder
Mar 24, 2021 -
A deep dive on loanDepot’s latest earnings
Mar 05, 2021 -
Reverse Mortgage Originators Report on 2021’s Business Highs and Lows
Feb 28, 2021 -
LoanDepot cleared $2B in profits, but margins are shrinking
Feb 18, 2021 -
LoanDepot raises just $54M in downsized IPO
Feb 11, 2021 -
LoanDepot to IPO this week at possible $6.2B valuation
Feb 08, 2021