LoanDepot, one of the nation’s largest direct-to-consumer non-bank originators, is reportedly considering an initial public offering (IPO), according to Bloomberg. The company could be worth an estimated $12 billion to $15 billion, the report said, citing sources with knowledge of the matter who did not wish to be named.

The IPO could come as early as the fourth quarter, according to the report.

The move would come five years after loanDepot first considered a public offering in 2015, which was pulled at the last minute after the company filed an S-1 with the U.S. Securities an Exchange Commission. The 2015 filing showed a company that posted a net income of roughly $69 million in 2015.

The IPO was initially pulled right before the shares were set to be priced, on the heels of slumping stock prices for LendingCorp, a top rival of LoanDepot. Approximately a year after the S-1 was filed, LoanDepot pulled the paperwork.

One of the company’s top rivals, Quicken Loans, went public last month under the Rocket Mortgage brand, with an IPO of 100 million shares at $18 per share. As markets opened Monday, it was trading at approximately $22 per share.

The potential public offering also comes at a time of high mortgage demand due to historically low mortgage rates, which is fueling a massive spike in refinances and new purchases from last year’s levels. Home sales are also blazing past pre-pandemic levels after falling significantly during the early days of the COVID-19 pandemic.

Email Patrick Kearns

mortgages
Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Inman Connect is LIVE today! Join us and thousands of your peers from wherever you are.Register Now×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription