Home means everything for life: loanDepot brings unique Lifetime Guarantee to its HELOC customers

Rhea-AI Summary

loanDepot (NYSE: LDI) has expanded its Lifetime Guarantee to include customers of its newly launched Home Equity Line of Credit (HELOC). This initiative aims to save customers thousands by eliminating closing costs on future refinancing and offering an additional half-point waiver. Launched in November 2022, the loanDepot HELOC is currently available in 34 states and helps homeowners manage rising costs. The company emphasizes its commitment to customer service and financial wellness amid ongoing economic shifts.

Positive

• Expansion of the Lifetime Guarantee to HELOC customers enhances the value proposition.
• Elimination of closing costs on future refinance transactions saves customers significant money.
• loanDepot HELOC launched in 34 states, offering a digital-first approach to home equity access.

Negative

• None.

Benefit can save customers thousands of dollars on future refinance transactions 

IRVINE, Calif., Feb. 16, 2023 /PRNewswire/ -- Following the successful launch of its digital home equity line of credit (HELOC), loanDepot, Inc. ("LDI" or "Company") (NYSE: LDI), has expanded its Lifetime Guarantee to its HELOC customers. The loanDepot Lifetime Guarantee, which comes with qualifying loanDepot purchase, refinance and now HELOC transactions, helps save customers thousands of dollars by eliminating closing costs on future refinance transactions of the same home. In addition, loanDepot HELOC customers will receive added savings with an extra half-point waiver of closing costs in subsequent eligible refinance transactions.

"Providing best-in-class customer service is our top priority, and that includes proactively solving for our customers' changing needs," said LDI Mortgage President Jeff Walsh. "We're here to support their entire homeownership journey, and with the Lifetime Guarantee, we're doing just that, providing loanDepot customers with savings on refinance transactions of their property, which supports their long-term financial wellness."

Many homeowners refinance their mortgages multiple times as rates fall or as they look to tap into their equity - and the loanDepot Lifetime Guarantee saves customers significant money with each new eligible transaction.

"As a purpose-driven lender, we're using our capabilities to make homeownership more accessible for all families," said loanDepot, Inc. President and CEO Frank Martell. "Just as we created the loanDepot HELOC, allowing customers to access record levels of equity¹, the Lifetime Guarantee can further support their financial goals when the time is right for a refinance. While the economy and housing market continue to shift, we will always be here for our customers."

Launched in November 2022, the loanDepot HELOC gives homeowners a powerful option for addressing inflation and rising consumer debt with a level of digital ease, convenience, and speed to funding not currently available through traditional HELOC products. It is now available in 34 states, with more on the horizon in the coming months. The loanDepot Lifetime Guarantee can be redeemed 12 months after the date of origination.

Visit www.loandepot.com/lifetime-guarantee for more information and https://www.loandepot.com/heloc to apply for the loanDepot HELOC. 

About loanDepot
loanDepot (NYSE: LDI; NMLS # 174457) is an equal housing lender and digital commerce company committed to serving its customers throughout the homeownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster and less stressful to purchase or refinance a home. Today, as one of the nation's largest non-bank retail mortgage lenders, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional and national philanthropic efforts.

Media Contact
Jonathan Fine
VP, Public Relations
(781) 248-3963
jfine@loandepot.com

¹ For information about nationwide equity levels, please see https://www.corelogic.com/press-releases/corelogic-us-home-equity-increases-again-in-q2-2022-with-the-total-average-equity-per-homeowner-reaching-a-record-high-of-300000/

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SOURCE loanDepot, Inc.

FAQ

What is loanDepot's new Lifetime Guarantee for HELOC customers?

loanDepot's Lifetime Guarantee now allows HELOC customers to save on closing costs for future refinancing, with additional savings through a half-point waiver.

When was the loanDepot HELOC launched?

The loanDepot HELOC was launched in November 2022.

In how many states is the loanDepot HELOC available?

The loanDepot HELOC is currently available in 34 states.

How does the Lifetime Guarantee benefit loanDepot customers?

The Lifetime Guarantee eliminates closing costs on future refinance transactions, potentially saving customers thousands of dollars.

What does loanDepot aim to achieve with its digital HELOC product?

loanDepot aims to provide a convenient and efficient way for homeowners to access their equity and manage rising costs.