As mortgage rates soared last year, loanDepot slashed $693M in annual expenses but saw loan origination volume plunge by 58% from the year before, to $22.7B, as refinancings evaporated
The mortgage lender has restored websites that collect payments, accept loan applications and match homebuyers with partner real estate agents after Jan. 4 cyberattack
After months of beta testing, loanDepot's melloNow underwriting engine can analyze credit reports, detect fraud, and validate income and employment data without human assistance
With headwinds in sight for 2024, loanDepot plans to slash $120M in annual expenses following 3 consecutive quarters of cuts, CEO Frank Martell said during a Q3 earnings call Tuesday afternoon
Dan Hanson, the former head of loanDepot's retail division, will develop 'new revenue-generating opportunities' as the lender's new executive director of enterprise partnerships and acquisitions
At $4.55B, loanDepot's Q2 purchase loan originations were up 30% from Q1, thanks in part to the seasonal boost provided by spring homebuyers, but down 52% from a year ago
CEO Frank Martell recruits former CoreLogic colleague David Hayes and streamlines management ranks as losses pile up and mortgage originations hit another new low
Settlement agreement ends proxy fight that broke out in February after loanDepot founder Anthony Hsieh was ousted as company's executive chairman
After being ousted as executive chair, Hsieh says he controls enough voting shares to install veteran real estate executive Steve Ozonian on the mortgage lender's board of directors
Beleaguered mortgage lender racks up a $610.4M 2022 net loss despite cutting 6,100 jobs as rising mortgage rates cut into the company's lucrative refinancing business
Founder and former CEO in public spat with board after nominating real estate veteran Steve Ozonian to serve on the floundering mortgage lender's board of directors
The industry dodged a meltdown, but skyrocketing mortgage rates fueled a rush to 'right size' and helped crown a new leader in mortgage lending
The troubled lender has shed 5,200 workers through layoffs and attrition and is instituting other cost-cutting measures aimed at trimming $400M in annual expenses by the end of the year
NHC Mortgage will offer home loans in Florida, Iowa and North Carolina, with plans to expand to 9 other states in 2023
Quebec-based Urbanimmersive sees an opportunity to double its revenue and cross-sell other CoreLogic products as it continues to expand its presence in the U.S.