loanDepot founder and CEO Anthony Hsieh completes purchases of 3.2 million shares of company stock
loanDepot's CEO Anthony Hsieh has invested $16.2 million to buy 3.2 million shares of the company since November 2021, including $6.2 million on the open market in February 2022. Hsieh's purchases exceed the shares he sold during the IPO on February 11, 2021. He believes the company's valuation does not reflect its growth potential, citing strong assets and a diverse loan origination strategy. Hsieh emphasized loanDepot's commitment to innovation, customer satisfaction, and market share growth.
- CEO Anthony Hsieh's $16.2 million personal investment in company shares signals confidence in loanDepot's growth potential.
- The acquisition of 3.2 million shares indicates that Hsieh believes the current share price undervalues the company's strong business fundamentals.
- None.
FOOTHILL RANCH, Calif., Feb. 17, 2022 /PRNewswire/ -- loanDepot, Inc. (NYSE: LDI) today announced that Founder and Chief Executive Officer Anthony Hsieh has personally invested a total of
Hsieh's recent purchases of 3.2 million shares of loanDepot class A common stock on the open market exceed the number of shares that he sold during loanDepot's Initial Public Offering on February 11, 2021.
"As loanDepot's founder and largest shareholder, I believe that loanDepot's current valuation does not fully reflect our strong business potential or our vision for long-term growth, and that's why I continue to invest personal funds in company shares," said Anthony Hsieh. "loanDepot's assets and capabilities are some of the most sophisticated and diverse in the industry today, and our highly experienced management team continues to innovate and transform the industry. Our diversified loan origination channel strategy, top of funnel marketing and customer acquisition capability, nationally recognizable brand, proprietary mello® tech stack, growing in-house servicing platform and suite of ancillary services position us to successfully compete in a challenging market environment.
"We are relentlessly driven to delight our customers and employees and purposefully built with a diverse mix of channels, innovative technology solutions and a sophisticated performance marketing machine," continued Hsieh. "We believe our capital, liquidity, brand awareness and employee talent enable us to continue profitably grow market share and further cement our place at the forefront of this industry."
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.
Investor Relations Contact:
Gerhard Erdelji
Senior Vice President, Investor Relations
(949) 822-4074
gerdelji@loandepot.com
Media Contact:
Rebecca Anderson
Senior Vice President, Communications & Public Relations
(949) 822-4024
rebeccaanderson@loandepot.com
LDI-IR
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SOURCE loanDepot, Inc.
FAQ
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