Mortgage lenders loanDepot and Movement Mortgage have agreed to end a one-year dispute over the poaching of employees, according to a document filed Friday in a district court in Delaware. In June 2023, California-based […]
California-based loanDepot plans to extend its $497.8 million in senior notes due in the fourth quarter of 2025 at a lower maturity and a higher interest rate. The transaction reflects a business under stress […]
loanDepot delivered another financial loss in the first quarter of 2024, during which the mortgage lender dealt with the impacts of a cyberattack that brought down its systems. The California-based lender recorded a non-GAAP adjusted net loss […]
loanDepot CEO Frank Martell expects the current mortgage market cycle to be “longer and tougher than anybody expected.” Adding to this challenge, lenders must deal with an increased risk of cyberattacks, something that loanDepot […]
loanDepot has settled a lawsuit filed by a Maryland couple accusing the firm of appraisal bias, ending a case that gained national attention two years ago. Court documents filed on March 22 show that the lender and plaintiffs […]
loanDepot greatly reduced its costs in 2023 while revenues were in free fall amid a contracting market. It wasn’t enough to bring the California-based lender company profitability, but it narrowed its losses. Operationally, loanDepot entered […]
As reverse mortgage industry professionals continue to look ahead into 2024 after enduring a challenging year for business in 2023, the prevailing attitude is optimistic. Recently, the president of the industry’s leading lender discussed […]
California-based mortgage lender loanDepot on Tuesday announced the launch of its fully automated underwriting engine called melloNow. The new system, which has been in beta-testing for the last several quarters, delivers a fully conditional loan approval “in […]
loanDepot Inc. (NYSE: LDI) has released its melloNow underwriting engine, which is designed to provide conditional loan approval in minutes. According to the Irvine, California-based company, melloNow uses a fully digital verification process to evaluate […]
loanDepot, the California-based lender targeting profitability next year, delivered its sixth consecutive quarterly loss in the third quarter of 2023, according to documents filed with the Securities and Exchange Commission (SEC) on Tuesday. Total revenue declined as […]
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