loanDepot brings servicing for Ginnie Mae loans in-house
loanDepot, the second largest nonbank retail lender in the U.S., is bringing the servicing of FHA, VA, and USDA funded Ginnie Mae loans in-house. This move aims to enhance operational efficiency and customer service, reducing reliance on third-party sub-servicers. The company has previously retained servicing for newly funded Freddie Mac and Fannie Mae loans and upgraded its servicing portal. loanDepot is also actively recruiting customer-facing talent to support this growth.
- In-house servicing of Ginnie Mae loans expected to improve customer service and operational efficiency.
- Recent upgrades to the servicing portal enhance the customer experience.
- Active recruitment for customer-facing roles indicates growth potential.
- None.
FOOTHILL RANCH, Calif., Jan. 3, 2022 /PRNewswire/ -- Continuing the momentum of its growing servicing portfolio, loanDepot, the nation's second largest nonbank retail lender, is bringing the servicing of FHA, VA and USDA funded Ginnie Mae loans in-house.
The move leverages ongoing investment in loanDepot's servicing platform, allowing the company to scale for operational efficiency and enhanced customer service. Earlier this year, loanDepot began retaining servicing for newly funded Freddie Mac and Fannie Mae loans, while laying the groundwork for Ginnie Mae Mortgage-Backed Securities. The approval from Ginnie Mae to service its loans in-house carries great significance, as iGinnie Mae remains the market's primary guarantor of securities containing FHA, VA, and USDA loans.
"Servicing our Ginnie Mae loans in-house is important for loanDepot, because it enables us to provide the best-in-class care and service that our customers have come to expect – from initial consultation through servicing for the life of their loans," said loanDepot Executive Vice President of Servicing and Capital Market Operations, Dan Binowitz. "We're relying less on third party sub-servicing partners, which streamlines the process and allows us to work directly with our customers so we can offer the outstanding service that they expect and deserve."
To accommodate this move and continued growth, loanDepot recently upgraded its servicing portal with robust, intuitive technology. loanDepot is also in the midst of recruiting for positions across its servicing organization, with a particular focus customer-facing talent. For more information email hello@loandepot.com or visit https://loandepot.com/careers.
About loanDepot
loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership 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 the nation's second largest retail mortgage lender, 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
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SOURCE loanDepot, Inc.
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