loanDepot, Inc. - LDI STOCK NEWS

loanDepot (NYSE: LDI) reported a return to profitability in Q3 2024 with net income of $3 million, compared to a net loss of $34.3 million in Q3 2023. Revenue increased 18% year-over-year to $315 million, driven by higher volumes and margin growth. The company achieved a pull-through weighted gain on sale margin of 329 basis points, the highest since market downturn began. Loan origination volume reached $6.7 billion, up 9% from Q3 2023. The company maintains strong liquidity with $483 million in cash. loanDepot completed its Vision 2025 strategic program and launched Project North Star, focusing on durable revenue growth and operational efficiency.

loanDepot (NYSE: LDI) and Smith Douglas Homes (NYSE: SDHC) have announced a new joint venture called Ridgeland Mortgage. The partnership aims to provide streamlined financing options for new home buyers, combining Smith Douglas Homes' expertise in building quality affordable homes with loanDepot's lending platform.

The venture will operate in multiple markets across the Southeast and Southern regions, including Atlanta, Houston, Birmingham, Charlotte, Chattanooga, and Nashville. The collaboration focuses on serving first-time homebuyers while expanding loanDepot's presence in the purchase mortgage market and supporting Smith Douglas Homes' growth strategy.

loanDepot (NYSE: LDI), a key player in the homeownership sector, announced that its Chief Information Security Officer, Mike Brown, has been honored with HousingWire’s 2024 Tech Trendsetters award. This accolade highlights the most impactful and innovative technology leaders in the housing economy. HousingWire stated that the Tech Trendsetters are comprised of top product and technology leaders essential in bringing innovative tech solutions to market. George Brady, loanDepot's Chief Information Officer, emphasized that the company's vision to be an innovative, customer-focused mortgage lender is driven by Mike Brown and his team.

loanDepot announces six retail loan originators have been named to the Asian Real Estate Association of America's (AREAA) A-List for 2024, recognizing top-producing Asian American, Native Hawaiian, and Pacific Islander professionals. Notable honorees include Nathan Sibbet (7th by volume, 4th by units) and Meinoh Kim (25th by volume, 26th by units). Other recognized originators include Kimberly Kawachi (26th by volume), Vincent Lau (29th by volume), Suzie Kondylopoulo (26th by units), and Lauren Jung (28th by units).

loanDepot, Inc. (NYSE: LDI), a leading provider of homeownership products and services, has announced it will release its third quarter 2024 financial results on November 5, 2024, after market close. The company will host a conference call and live webcast at 5:00 p.m. ET on its investor relations website, investors.loandepot.com.

The call will include a review of quarterly results followed by a Q&A session. Interested parties can access the conference call by dialing (800) 715-9871, Conference ID: 9881136. A webcast will also be available at https://events.q4inc.com/attendee/479196723. Attendees are advised to call five minutes in advance. A replay of the webcast will be made available on the Investor Relations website after the event.

loanDepot President and CEO Frank Martell and his wife Donna were honored with the Marine Corps Scholarship Foundation's Globe and Anchor Award for their dedication to educating children of Marines and Navy Corpsmen. The award was presented at the Foundation's West Coast Campaign Celebratory Dinner in Newport Beach.

The Martells have been supporters of the Foundation for over a decade, with Frank serving on its board of directors for more than six years. They announced an endowed scholarship in honor of their late parents. loanDepot is also a proud supporter of the Foundation.

The Marine Corps Scholarship Foundation's mission is to honor Marines by educating their children. The Foundation's President and CEO, Ted Probert, praised the Martells' generosity and its impact on military families.

loanDepot celebrates its fourth year as the Presenting Sponsor of Major League Baseball's American League Championship Series (ALCS) and National League Championship Series (NLCS). The company, also the Official Mortgage Provider of MLB, continues its 'Ballpark Bingo: A Celebration of Firsts' campaign, a season-long sweepstakes highlighting milestones in baseball and homeownership.

The 2024 Ballpark Bingo grand prize winner, Dan Dacey, a firefighter from Cincinnati, Ohio, threw a ceremonial first pitch at Dodger Stadium before the NLCS Game One. Dacey described the experience as 'truly once-in-a-lifetime' and expressed gratitude to loanDepot.

Throughout the 2024 MLB season, fans played along with the Ballpark Bingo card as major milestones unfolded. The campaign featured two grand prizes: an all-expenses-paid trip to MLB All-Star Week and a trip to Game One of either the ALCS or NLCS with the chance to throw a ceremonial first pitch.

loanDepot has successfully closed a $300 million asset-backed transaction through the offering of notes by Mello Warehouse Securitization Trust 2024-1 (MWST Notes). This marks the tenth transaction of this kind for the company. The MWST Notes are backed by a revolving warehouse line of credit, secured by newly originated, first-lien, fixed-rate or adjustable-rate residential mortgage loans.

These loans are originated in accordance with the criteria of Fannie Mae, Freddie Mac, or Ginnie Mae for mortgage loan purchases or securities guarantees, along with certain other eligibility criteria. loanDepot's Chief Financial Officer, David Hayes, stated that this transaction demonstrates the strength and breadth of the company's financing strategy and attractive capital raising alternatives.

loanDepot (NYSE: LDI) has appointed Bryan Bergjans as its national director of military growth and strategy, strengthening its Veterans Administration (VA) lending program. Bergjans, a U.S. Navy Veteran and respected military advocate, brings nearly two decades of military experience and a passion for serving the active-duty military and Veteran community. This strategic move aligns with loanDepot's mission to enhance its VA lending capacity and expertise.

Executive Vice President John Bianchi emphasized that this appointment reinforces loanDepot's commitment to VA lending, aiming to become the premier home loan provider for servicemembers and Veterans. Bergjans, known for his industry-first initiatives and impressive growth strategies, joins loanDepot after eight years at Caliber Home Loans. He continues to serve in the Navy Reserves and has a track record of creating educational programs and initiatives to support military homeownership.