loanDepot, Inc. - LDI STOCK NEWS

loanDepot (NYSE: LDI) has appointed Nancy Smith as Regional Vice President for Colorado and Wyoming, leading its In-Market Retail branches in these states. Smith brings extensive experience in sales leadership and a strong track record in the Mountain States region. Colorado, with its rapid population growth of 19.25% from 2010 to 2023, is a key market for loanDepot. Wyoming, an emerging market traditionally underserved by independent mortgage banks, will benefit from Smith's leadership.

Smith's appointment aligns with loanDepot's strategy to provide deep local expertise and industry knowledge to homebuyers and real estate professionals. Her focus on team growth and development, based on integrity, respect, and accountability, matches loanDepot's company culture. The company expects Smith's leadership to enhance its services in these markets and attract top producers in the region.

loanDepot's President and CEO Frank Martell has been recognized as a HousingWire Vanguard for the second consecutive year, highlighting his visionary leadership in the housing industry. This prestigious award, celebrating its 10th year, acknowledges top leaders driving transformative growth and setting new standards of excellence.

Under Martell's leadership, loanDepot (NYSE: LDI) has implemented its Vision 2025 strategic plan, focusing on significant investments in people, platforms, and programs. The company has been named 'Best Lender for First-Time Buyers' by the Wall Street Journal for two consecutive years and has introduced innovative products like accessZERO and accessONE+ down payment assistance programs. Martell's commitment to supporting diverse first-time homebuyers and established homeowners has strengthened loanDepot's position as a lifetime partner in the homeownership journey.

loanDepot (NYSE: LDI) has expanded its equityFREEDOM product suite to include a first-lien home equity line of credit (HELOC). This new offering targets the 38.5% of American homeowners without a mortgage, allowing them to borrow against their home's equity for large expenses or debt consolidation. The equityFREEDOM First-Lien HELOC offers flexible terms, including a three-year draw period and, in most states, a 10-year interest-only payment period followed by a 20-year amortizing repayment term. The product is currently available in seven states with plans for a national rollout by late 2024. This addition strengthens loanDepot's portfolio of products supporting customers throughout their homeownership journey.

loanDepot reported Q2 2024 financial results with a revenue of $265 million driven by higher origination and servicing revenues. The adjusted revenue was $278 million, the highest since the market downturn. The company achieved a pull-through weighted gain on sale margin of 322 basis points. Despite these achievements, loanDepot recorded a net loss of $66 million, influenced by $27 million in charges from a cybersecurity incident and a $6 million loss on debt extinguishment. However, the adjusted net loss decreased by 56% to $16 million YoY. The company reported an adjusted EBITDA of $35 million, the highest since the downturn began. They also completed a $120 million Vision 2025 productivity program and a tender exchange of notes, reducing debt by $137 million. The company maintains a strong liquidity profile with $533 million in cash.

loanDepot's Managing Director of Mortgage Lending Operations, Viviana Abarca, has been named a 2024 HousingWire Insider. This accolade recognizes operational leaders in housing who drive their companies and clients forward. Abarca's contributions include successfully launching the melloNOW underwriting engine, which provides conditional loan approvals in minutes using a fully digital verification process. This recognition aligns with loanDepot's Vision 2025 strategic plan and marks Abarca's second time on the HousingWire Insider list. She was also recently named a 'Mortgage Star' by Mortgage Women Magazine.

loanDepot, Inc. (NYSE: LDI), a leading provider of lending solutions for homeownership, has announced the release date for its second quarter 2024 financial results. The company will disclose its Q2 2024 results on August 6, 2024, after market close. Following the release, management will host a conference call and live webcast at 5:00 p.m. ET on the company's investor relations website.

Investors and analysts can participate in the call by dialing (800) 715-9871 with Conference ID: 9881136. A webcast will also be available at https://events.q4inc.com/attendee/410319294. After the event, a replay of the webcast will be accessible on the Investor Relations website.

loanDepot (NYSE: LDI) has introduced a new home equity loan to its equityFREEDOM product suite, addressing the record $32.7 trillion in home equity held by Americans. This addition, along with their existing HELOC offering, provides homeowners with powerful financial tools to access equity without sacrificing low mortgage rates.

The equityFREEDOM Home Equity Loan offers:

• 20-year, fully amortizing loan with no prepayment penalty
• Borrowing up to $350,000 based on credit profile and CLTV
• Maximum 90% CLTV
• Potential for significant interest savings compared to high-interest credit cards

loanDepot aims to help homeowners manage financial health and combat inflation through these equity-based solutions, with plans to further expand the product suite later this summer.

LoanDepot (NYSE: LDI) has announced the recognition of three of its women leaders in the housing industry. Viviana Abarca, Managing Director of Mortgage Lending Operations, won Mortgage Women Magazine’s 2024 'Mortgage Star Award'. Mary Bane, Vice President of Regional Production, and Romina Zamanpour, a Diamond Licensed Lending Officer, received HousingWire's 2024 'Women of Influence' award. These awards highlight their significant contributions and leadership in the industry. Moreover, 25 LoanDepot team members were included in Scotsman Guide’s 2024 Top Women Originators list, and 13 women were named to the National Association of Hispanic Real Estate Professionals (NAHREP) 2024 national and regional lists.

loanDepot President and CEO Frank Martell has been awarded Inman’s “Best of Finance” award for the second consecutive year. The award celebrates top performers in the mortgage and finance industry who are driving innovation and reshaping the home-buying experience. Martell's recognition underlines loanDepot's commitment to its Vision 2025 plan, which aims to serve a diverse community of first-time homebuyers and foster lasting customer relationships. This accolade follows Martell's inclusion on Inman’s 2024 “Power Player” list. Martell will share his vision for loanDepot at Inman Connect Las Vegas on July 31, 2024.