LoanDepot, sometimes stylized as loanDepot, is a Lake Forest, California-based holding company which sells mortgage and non-mortgage lending products. In 2015, the company claimed to be the second largest non-bank provider of direct-to-consumer loans in the United States.
LoanDepot was founded in 2010 by entrepreneur Anthony Hsieh, who had previously founded mortgage companies LoansDirect.com which he sold to E*Trade, and HomeLoanCenter.com, which he sold to LendingTree. The company's products at the time included fixed rate, jumbo, FHA and home equity loans, in addition to more controversial adjustable-rate mortgages and negative amortization products.
In November 2015, the company postponed a planned IPO, citing poor market conditions.
In March 2017, the company introduced technology to automate the loan process, allowing customers to apply for a mortgage without talking to a loan officer.
In January 2018, the company announced two products as part of its technology platform, now called Mello, a home improvement unit to allow contractors to offer financing to customers, and Mello Home, a platform to connect pre-approved buyers to realtors.
In September 2019, the company partnered with Century 21 Redwood Realty to form a new mortgage platform for the mid-Atlantic area, Day 1 Mortgage.
loanDepot went public on the New York Stock Exchange on February 11, 2021 under the ticker symbol LDI.
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