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
Upcoming IPO could value loanDepot at $6.5B
Jan 27, 2021LoanDepot will look to raise approximately $300 million in the upcoming IPO. The firm is the second-largest retail-focused IMB in the country.
-
LoanDepot files paperwork to go public in 2021
Jan 11, 2021 -
LoanDepot creates joint venture with Brookfield Residential
Dec 23, 2020 -
Originator Tips: Forward Lessons and Realtor C.E. Can Help Conquer Reverse Mortgage Misinformation
Nov 17, 2020 -
LoanDepot says it’s going public (for real this time)
Nov 11, 2020 -
Nonbanks are seizing a “generational opportunity” to go public. But who will actually reap the rewards?
Oct 20, 2020 -
Caliber Home Loans plans $2B-plus IPO
Oct 02, 2020 -
loanDepot could make public debut this year at up to $15B
Sep 17, 2020 -
Refi fee is delayed, but what are lenders doing about loans that were already locked?
Aug 28, 2020 -
In a super-low rate environment, how can lenders get purchase loans done without putting refis on the back burner?
Aug 18, 2020 -
Surging mortgage volume puts pressure on appraisal turn times
Aug 04, 2020 -
loanDepot Wholesale’s mello Broker Portal enables brokers to deliver a seamless lending experience
Jul 01, 2020 12:02 am