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.

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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.

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.

loanDepot, Inc. to report second quarter 2022 financial results on August 9, 2022

LoanDepot (LDI) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

LoanDepot (LDI) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release

Shares of LoanDepot Inc. LDI, -12.05% rallied 4.1% in premarket trading Tuesday, after the online mortgage company said it was moving to "aggressively rightsize" its cost structure as mortgage originations have contracted "sharply and abruptly" in 2022. The company said it is implementing a program to generate annualized savings of $375 million to $400 million by the end of 2022, through job cuts, attrition, business process optimization, reduced marketing and real estate consolidation.

LoanDepot to cut 2,000 more jobs this year as decline in mortgage originations seen accelerating

Building on foundation of strong balance sheet and liquidity Downsizing to align with rapidly changing market conditions; focusing mortgage lending on purchase transactions while serving increasingly diverse communities across the country Simplifying organizational structure, with increased focus on client service, quality, automation and operating leverage Targeting approximately $375 - $400 million in annualized cost reductions by the end of 2022 and run-rate operating profitability exiting 2022 Conference call to discuss announcement at 8:30 AM ET today FOOTHILL RANCH, Calif. , July 12, 2022 /PRNewswire/ -- loanDepot, Inc. (NYSE: LDI) ("loanDepot" or the "Company") today announced its Vision 2025 plan designed to address current and anticipated mortgage market conditions and position the Company for sustainable long-term value creation.

loanDepot announces Vision 2025 plan to address current and anticipated market conditions and position company for long-term value creation

Recognition reflects the company's ongoing commitment to diversity and inclusion in home ownership FOOTHILL RANCH, Calif. , June 29, 2022 /PRNewswire/ -- loanDepot is among the top lenders with the highest number of loan originators on the National Association of Hispanic Real Estate Professionals' (NAHREP®) latest "Top 250 Latino Mortgage Originators" report.

loanDepot among top lenders on NAHREP's "Top 250 Latino Mortgage Originator" report

But that's not the only problem the company is facing.

Rising Interest Rates Rock loanDepot

loanDepot, Inc.(NYSE:LDI ) Q1 2022 Earnings Conference Call May 10, 2022 11:00 AM ET Company Participants Gerhard Erdelji - Senior Vice President, Investor Relations Anthony Hsieh - Founder, Executive Chairman Frank Martell - President and Chief Executive Officer Patrick Flanagan - Chief Financial Officer Jeff DerGurahian - Chief Capital Markets Officer Jeff Walsh - Chief Revenue Officer Conference Call Participants Doug Harter - Credit Suisse Kevin Barker - Piper Sandler Trevor Cranston - JMP Securities Bob Napoli - William Blair Arren Cyganovich - Citi Courtney Bahlman - Barclays Blake Munger - Morgan Stanley Derek Hewett - Bank of America Operator Good morning. And welcome everyone to loanDepot's First Quarter 2022 Conference Call.

loanDepot, Inc. (LDI) CEO Frank Martell on Q1 2022 Results - Earnings Call Transcript

C-suite expansion adds leadership strength to accelerate execution on strategies and create long-term shareholder value Invested in recruiting in-market retail loan officers, growing purchase volume to 37% of total originations. Announced launch of all-digital mello HELOC product.

loanDepot announces first quarter 2022 financial results

Innovative new products will give customers fast and frictionless access to financing during all of life's critical moments Rising interest rates and high inflation make home equity lines of credit a smart source of capital for many homeowners Consumers will apply and get approved online in a matter of minutes and gain access to funds in as little as seven days Company's unrivaled mix of assets—including sophisticated top-of-funnel marketing engine, nearly 3,000 licensed loan officers, proprietary tech stack and national brand—position mello to efficiently fulfill customer demand FOOTHILL RANCH, Calif. , May 3, 2022 /PRNewswire/ -- loanDepot, Inc. ("LDI" or "Company") (NYSE: LDI), today announced its mello business unit will launch a series of innovative, digital-first, secured and unsecured lending products designed to help consumers easily and conveniently access their funds in as little as seven days.

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