Loandepot has filed a $250 million shelf registration, setting up potential future funding for its operations or repayment of debt. Processing Content The lender and servicer filed the form with the Securities and Exchange Commission Thursday, two days after it revealed a larger net loss for the first quarter. According to the latest filing, the […]
Loandepot files $250 million shelf registration Read More »
Three women with prominent roles in the reverse mortgage industry took the stage Tuesday at the Reverse Mastermind Summit in Knoxville, Tennessee, sharing personal stories while converging on sales advice around the power of narrative, the importance of relationships with financial planners and the need for higher professional standards. Christine Jensen of Fairway Home Mortgage
Women take the leadership reins at Reverse Mastermind Summit Read More »
Loandepot slipped deeper into the red to start the year as executives blamed the firm’s performance on market volatility and tighter margins from the product mix shift over the winter. Processing Content The lender and servicer Tuesday posted a $54.9 million net loss for the first quarter, widening losses of $32.8 million and $40.7 million
Loandepot blames Q1 loss on market volatility, product mix Read More »
NEXA Lending CEO Mike Kortas is dismissing claims that the company misappropriated trade secrets and confidential customer data after being sued by rival lender loanDepot in federal court. The complaint alleges that NEXA knowingly assisted two former loanDepot employees in taking proprietary information before leaving the company and using it to solicit borrowers. The lawsuit
NEXA Lending denies loanDepot trade secrets lawsuit Read More »
loanDepot announced Thursday that it has formed a strategic partnership with Figure Technology Solutions to power a new “express-path” home loan product through loanDepot’s mello platform. Under the agreement, loanDepot will integrate Figure’s proprietary credit and loan underwriting engine into its mello technology stack and point-of-sale system. The integration is designed to allow loanDepot to
loanDepot, Figure team up on streamlined home loan and equity products Read More »
LoanDepot is partnering with Figure Technology Solutions to launch a home loan product that they say can approve borrowers in as little as five minutes and deliver funding in as few as five days. Processing Content The Irvine, California-based lender will integrate Figure’s proprietary credit and loan underwriting engine into its own proprietary mello technology
LoanDepot taps Figure to launch 5-minute loan product Read More »
One day after announcing plans to reenter the wholesale lending business, LoanDepot said the move reflects its expectation that refinance activity will drive origination growth across multiple channels. Processing Content “Getting back into wholesale, which is a business that we were in previously, is going to allow us to achieve greater scale,” said CEO Anthony
LoanDepot bets on refi wave with wholesale return Read More »
West Capital Lending (WCL) has sued loanDepot, accusing the California-based mortgage lender of engaging in a long-running compensation scheme that violates the Truth in Lending Act (TILA). The lawsuit, filed Friday in the U.S. District Court for the Central District of California, marks the latest escalation in a bitter legal feud between the two companies.
West Capital Lending sues loanDepot, alleges unlawful pay scheme Read More »
After exiting the channel approximately three-and-a-half years ago during a tough period for both the mortgage industry and its own business, LoanDepot is returning to the wholesale origination business. Processing Content “Serving brokers through wholesale naturally expands our multi-channel origination strategy and complements our direct-to-consumer, in-market retail, joint venture, and servicing businesses,” CEO Anthony Hsieh
LoanDepot adds wholesale production 3 years after exit Read More »
Just months after loanDepot‘s Alex Madonna was named to a new role to focus on emerging technology, artificial intelligence and modern sales structures, it was announced that he’s departing the company. Madonna, who was most recently loanDepot’s executive vice president of direct lending and spent 16 years at the company, confirmed the news in a
loanDepot executive Alex Madonna departs, starts Trust One Financial Read More »