loanDepot and mellohome introduce proprietary integrated home services bundle, giving customers seamless access to an entire suite of home transaction products in a single package

Rhea-AI Summary

loanDepot (NYSE: LDI) and mellohome announced the launch of the Grand Slam package, a comprehensive suite of home buying and selling services aimed at simplifying the transaction process for consumers. The package combines real estate services with mortgage financing, available nationwide from October 1, 2021. Customers can benefit from incentives such as up to $7,000 cashback and a close-on-time guarantee. This initiative reflects loanDepot's commitment to enhancing the homeownership journey and its position as a leading mortgage provider.

Positive

• Launch of Grand Slam package that integrates home buying and selling services.
• Cashback incentives up to $7,000 for customers.
• Close-on-time guarantee providing $1,000 cashback.
• Expansive services offered through a network of over 4,000 real estate professionals.

Negative

• None.

FOOTHILL RANCH, Calif., July 29, 2021 /PRNewswire/ -- loanDepot, Inc. (NYSE: LDI), together with its sister company mellohome, today announced the launch of a proprietary bundle of home buying and selling services designed to give consumers a simpler, easier, and more affordable way to buy, sell and finance a home, eliminating the stress and friction that often come with one of the most important financial transactions of their lives.

The digital age—and the acceleration of digital adoption during the pandemic—have disrupted the way homebuyers think and act, and today many homebuyers engage with loanDepot before they've contacted a real estate agent. Thanks to its world-class brand, powerful top of funnel marketing and customer acquisition capabilities, diversified loan origination strategy, proprietary technology, and ancillary services, the company is uniquely suited to re-imagine the entire home buying and selling experience for these customers. This particular set of capabilities is one of the most sophisticated and diverse in the industry today.

The loanDepot Grand Slam package, which builds on loanDepot's position as the Official Mortgage Provider of Major League Baseball and mellohome's standing as a premier provider of real estate services, combines digital-first simplicity with an expansive suite of services and rich set of incentives to deliver customer delight and value. It will be available nationwide on October 1, 2021.

Enabled by a unique suite of assets

"Since our launch 11 years ago, we have invested heavily in digital innovations that make the mortgage process simpler, easier and more rewarding," said loanDepot Founder and CEO Anthony Hsieh. "The disruption in the market today is all about better serving the home buyer or owner with easy-to-navigate bundled real estate services that simplify a complex and stressful transaction. While others have approached this from the real estate side, we'll use the power and scale of our industry-leading position to drive the type of value and ease for our customers that most of our competitors simply cannot touch."

Through mellohome, loanDepot connects customers with a network of more than 4,000 top tier real estate professionals in major markets across the country. Title services are available in 44 states through American Coast Title and Closing USA, both LDI companies, while home insurance services provided exclusively by loanDepot's agent partner are also available.

Added Hsieh, "loanDepot is more than a mortgage company; we're a digital commerce company committed to serving our customers throughout the homeownership journey. We are uniquely positioned to serve our customers' home buying and selling needs in totality, providing value and a reason to return to us long after their initial home financing transaction is complete. The loanDepot Grand Slam represents a significant step toward our vision to become the most trusted homeowner fulfillment company in the world."

The loanDepot Grand Slam

In addition to marrying the professional real estate services of mellohome with the home financing services of loanDepot, the loanDepot Grand Slam includes title and homeowner insurance services.

Customers who buy and sell with a mellohome preferred real estate agent, finance with loanDepot and choose the company's title and insurance services[1] will be eligible for a generous package of additional benefits:  

• Up to $7,000 cash back from mellohome at the close of the transaction, depending on home purchase/sale price
• A close-on-time guarantee of $1,000 cash back if the company fails to close the transaction within 25 days of the customer's preapproval
• A digital home security system
• $100 DoorDash gift card

"At the end of the day, all of us are consumers too," said Hsieh. "And because of this, we remain laser focused on serving our customers when, where and how they wish to be served. The beauty of the loanDepot Grand Slam is that we're giving customers a sleek, streamlined way to manage all of the details that come with one of the most important financial transactions of their lives."

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 $380 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-related 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 mellohome
A subsidiary of LDI Holdings and sister company to loanDepot, mellohome matches top-tier real estate agents with ready-to-transact customers to create a seamless home buying experience. mellohome delights customers and real estate agents by pairing proprietary technology that creates transactional efficiencies with white-glove concierge service that strives to provide real-time communication at every stage of the sale. It is a licensed Texas real estate brokerage.

Media Contact:
Rebecca Anderson
SVP, Strategic Communications & Public Relations
(949) 822-4024
rebeccaanderson@loandepot.com

 

1 melloInsurance Services not offered in all states. melloInsurance Services does not offer services in the following states: AK, HI, and MA

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/loandepot-and-mellohome-introduce-proprietary-integrated-home-services-bundle-giving-customers-seamless-access-to-an-entire-suite-of-home-transaction-products-in-a-single-package-301344413.html

SOURCE loanDepot, Inc.