While mortgage originations were up 34% from a year ago, to $7.2B, shares dip below 12-month low after company executives said they don't expect Q1 2025 lending to surpass $5.5B
Martell will transition into a board advisory role by June, and Anthony Hsieh will return to the executive leadership team after the board ousted him in 2023, officials announced Thursday
Beleaguered lender ekes out $2.67M Q3 profit on $315M in revenue, with loan originations up 9% from a year ago as mortgage refinancing bounces back on retreating rates
Pending $25M settlement of January cyberattack adds to $66M Q2 net loss, but executives say they're in a better position to grow after selling $29B in mortgage servicing rights
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
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
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