loanDepot and Farm Bureau Bank® Launch Farm Bureau Mortgage

Rhea-AI Summary

loanDepot (NYSE: LDI) and Farm Bureau Bank have launched a new joint venture named Farm Bureau Mortgage, aimed at enhancing mortgage services for Farm Bureau members across the U.S. The initiative seeks to provide personalized home loan experiences and efficient financial solutions, leveraging loanDepot's technology and Farm Bureau Bank's understanding of rural financial needs. Dominick Deorio will serve as President of Farm Bureau Mortgage, which aims to deliver exceptional service and facilitate homeownership for its clientele.

Positive

• New joint venture, Farm Bureau Mortgage, launched to enhance mortgage services for Farm Bureau members.
• Leveraging loanDepot's technology for seamless transactions.
• Aim to provide personalized home loan experiences for rural Americans.

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• None.

SCOTTSDALE, Ariz., June 3, 2021 /PRNewswire/ -- loanDepot.com, LLC, a subsidiary of loanDepot, Inc. (NYSE: LDI), the nation's second largest retail mortgage lender, and Farm Bureau Bank, a member oriented Bank serving over five million Farm Bureau® members, announced today an innovative new joint venture to be named Farm Bureau® Mortgage.

"As America's Lender, we are thrilled to create this unique partnership with Farm Bureau Bank," said Dan Peña, executive vice president of national joint ventures for loanDepot. "Farm Bureau Bank is dedicated to serving the financial needs of rural Americans across the country and understands the unique lifestyle of its Farm Bureau® members. loanDepot knows the importance of home and is equally committed to providing our customers the personalized service they desire as they navigate one of their most important life events—the purchase or refinance of their home."

Headquartered in Reno, Nevada, Farm Bureau Bank is a federally chartered Savings Bank, offering a wide variety of products, including checking accounts, auto loans, credit cards, and business services. Farm Bureau Bank, which opened its doors in 1999, currently serves local Farm Bureaus and their members in 45 states.

Dominick Deorio, who will serve as President of Farm Bureau Mortgage, added "Farm Bureau members will greatly benefit from this partnership. loanDepot is known for exceeding the expectations of customers at every step of the home loan process, and Farm Bureau Mortgage will ensure a level of excellence and care that Farm Bureau members expect."

"Our goal has, and remains, to provide our members with an optimal banking experience," said William Hileman, President and CEO of Farm Bureau Bank. "Farm Bureau Mortgage brings great value to our customers, and loanDepot's technology ensures a seamless and straightforward transaction that will enable them to achieve their dreams of homeownership on their terms."

About loanDepot
loanDepot is a contemporary financial services company dedicated to delivering a best-in-class experience to its mortgage purchase and refinance customers. Launched in 2010, loanDepot offers a diversified network of direct-to-consumer, in-market, and partner business channels, uniquely positioning it to serve a wide range of customers. Headquartered in Southern California, the Company has funded more than $350 billion since its founding and currently ranks as the second largest retail nonbank lender and one of the leading retail mortgage lenders in the United States. Committed to serving the communities in which its team members live and work, loanDepot has donated millions of dollars to support a variety of local, regional and national philanthropic efforts, most recently giving more than $2.5 million to help with COVID-relief efforts for first responders, healthcare workers, individuals and families nationwide. The Company also is a founding sponsor of War Heroes on Water, which supports ongoing therapeutic healing services for combat-wounded veterans nationwide.

About Farm Bureau Bank
Since 1999, Farm Bureau Bank has focused on providing products and services for Farm Bureau members across the country while delivering an exceptional banking experience.  Farm Bureau Bank shares your interests, understands your background, and works to support your livelihood. For more information about Farm Bureau Bank, please visit our website at www.farmbureau.bank.

Media Contact:
Lori Wildrick
Vice President, Communications
(949) 330-8791
lwildrick@loandepot.com

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SOURCE loanDepot, Inc.

FAQ

What is the new venture announced by loanDepot and Farm Bureau Bank?

loanDepot and Farm Bureau Bank have launched Farm Bureau Mortgage, a joint venture designed to offer enhanced mortgage services to Farm Bureau members.

Who is the President of Farm Bureau Mortgage?

Dominick Deorio has been appointed as President of Farm Bureau Mortgage.

When was Farm Bureau Mortgage launched?

Farm Bureau Mortgage was launched on June 3, 2021.

What benefits does Farm Bureau Mortgage provide to members?

Farm Bureau Mortgage aims to deliver personalized home loan experiences and efficient financial solutions tailored for rural Americans.

What is the stock symbol for loanDepot?

loanDepot is traded under the stock symbol LDI.