January cyberattack a $37M weight on loanDepot Q1 2024 results
In addition to $15M in direct costs, loanDepot says it lost an additional $22M in revenue while systems were down and clients couldn't lock, contributing to $72M Q1 net loss
by Matt Carter May 7
Dr. Shani Mott spent her last days fighting for housing equality
The Baltimore homeowner succumbed to cancer before she could celebrate a landmark appraisal bias win. She's part of a long legacy of Black homeowners who've died while fighting for their rights
by Marian McPherson Mar 27
LoanDepot settles high-profile appraisal bias lawsuit filed in 2022
Lender revises appraisal policies and practices in wake of lawsuit by Baltimore couple who claimed their home was undervalued by more than $250,000 because they were Black
by Matt Carter Mar 27
A call for change is center stage this summer. Join the movement
Anchored by industry leaders, top performers and advocacy, Inman Connect Las Vegas is primed to be a catalyst for changing real estate
by Inman Mar 22
NAR settlement may disrupt mortgage partner agent programs
If homebuyers are no longer willing to pay full commissions to agents, what happens to lender programs that incentivize consumers to work with partner real estate agents?
by Matt Carter Mar 18
LoanDepot trims 2023 net loss by 37%, retains 'strong liquidity profile'
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
by Matt Carter Mar 12
This first-time homebuyer program is like winning the lottery
California Housing Finance Agency to use lottery system to allocate $220M in 'Dream for All' shared appreciation loans that cover down payments for eligible first-time homebuyers
by Matt Carter Mar 7
Inman announces 2024 class of Marketing All-Stars award winners
The prestigious award honors the most creative, innovative and strategic-thinking marketers within the real estate industry for 2024
by Zohray Brennan Mar 7
LoanDepot hackers had access to Social Security numbers, DOBs
Hit by lawsuits, the lender is offering 24 months of free identity protection services and credit monitoring from Experian to 16.9M consumers affected by the January cyberattack
by Matt Carter Feb 27
Ransomware group claims it was behind loanDepot cyberattack
The FBI has developed a decryption tool to combat the ALPHV/Blackcat ransomware variant, and authorities are offering $15M in rewards to stop the group
by Matt Carter Feb 21
Guild Mortgage set to acquire, rebrand Academy Mortgage
Upward of 1,000 Academy Mortgage employees will make the transition to Guild, including more than 600 originators, Guild said in announcing the 6th acquisition in 3 years
by Matt Carter Feb 13
Mortgage giants offering very low income homebuyers a spring break
Fannie Mae and Freddie Mac are offering a $2,500 credit this spring that borrowers can put toward their down payment, closing costs, escrow or mortgage insurance premiums
by Matt Carter Feb 7
Wholesaler Crescent Mortgage closing up shop at end of March
Sixty-five employees are slated to lose jobs when the Atlanta-based lender, licensed in 48 states, ceases operations on March 29, the company confirmed in a WARN Act filing with Georgia officials
by Matt Carter Feb 2
In the age of AI, authenticity wins
Marketing company owner Christine George, Linkedin expert Alex Hanson and the hosts of popular podcast 'Glitter and Gay' share branding wisdom with crowds at Inman Connect New York
by Craig C. Rowe Jan 25
Personal data of 16.6M loanDepot customers exposed
The mortgage lender has restored websites that collect payments, accept loan applications and match homebuyers with partner real estate agents after Jan. 4 cyberattack
by Matt Carter Jan 24