Office address: 6561 Irvine Center Drive, Irvine, CA 92618
Year established: 2010
Company type: financial services
Employees: 6,000+
Expertise: refinancing, home loans, mortgage loans, FHA loans, jumbo loans, VA loans
Parent company: NewRez
CEO and key people: Frank Martell (President & CEO), Jeff Walsh (President, LDI Mortgage), Dan Binowitz (MD of Operations and Servicing), George Brady (CIO), Jeff DerGurahian (CIO & Head Economist), TJ Freeborn (Chief Admin Officer), Darren Graeler (Chief Accounting Officer)
Financing status: formerly PE-backed

loanDepot is a mortgage lending company that offers home loans, personal loans, and more. The company supports its operations and customer service using their mello® software platform, facilitating quick and efficient loan transactions. It has served homeowners for over 12 years, with funding surpassing $275 billion and a nationwide customer count of 27,000 a month.

History of loanDepot

loanDepot was founded in 2010 by Anthony Hsieh. In 2015, it became the second-largest non-bank direct-to-consumer loan provider in the US but postponed its IPO due to market conditions. The company introduced innovations like the mello® technology platform in 2017 and went public on the NYSE in 2021.

loanDepot reached $100 billion in mortgage originations in 2020. Since it started its operations, it has grown to over 6,000 employees and 200 locations across the country.

Products and Services of loanDepot

loanDepot's products and services offer a variety of mortgage and financing solutions:

  • adjustable rate mortgages: ideal for those planning short-term stays in their homes or seeking lower initial payments
  • fixed rate mortgages: the traditional choice for refinancing or purchasing a new home, offering stability and predictability in payments
  • VA loans: tailored for active military and veterans, offering special loan programs guaranteed by the VA
  • FHA loans: designed to make qualifying easier, with as little as 3.5% down, now available to a broader audience beyond first-time buyers

Culture at loanDepot

loanDepot reinforces its care for its workers as it offers a comprehensive benefits package that includes multiple health, dental, and vision insurance options. Among these benefits include:

  • pet insurance & company-paid life and LTD insurance
  • mental health resources & college tuition reimbursement
  • 401(k) matching program
  • 16 hours of volunteer paid time off annually for charity work

loanDepot also helps the needy by donating millions of dollars and volunteer hours to charities nationwide. It recently contributed $3 million to aid those impacted by the COVID-19 pandemic, including first responders, healthcare workers, and support personnel.

About loanDepot President and CEO Frank Martell and key people

Frank Martell became President and CEO of loanDepot in 2022. Martell’s earlier career included leadership roles at Nielsen Corporation and Western Institutional Review Board. He has a Bachelor of Science degree from Villanova University.

Among the people who lead loanDepot’s operations include:

  • Jeff Walsh (President, LDI Mortgage): directs top-line mortgage revenue and has played a significant role in the company's evolution and expansion since 2012
  • Dan Binowitz (MD of Operations and Servicing): manages pre-funding and post-funding operations, aiming to establish long-term customer relationships
  • George Brady (CIO): oversees all technology capabilities, fostering innovation to meet customer expectations
  • Jeff DerGurahian (Chief Investment Officer and Head Economist): leads secondary and capital markets efforts, providing strategic insights into mortgage and economic trends
  • TJ Freeborn (Chief Administrative Officer): manages brand, marketing, corporate communications, and strategic initiatives, including national sports marketing strategies
  • Darren Graeler (Chief Accounting Officer): handles financial and accounting operations, ensuring accurate SEC reporting and tax compliance

The Future at loanDepot

loanDepot is planning for the future by adding new ways to create opportunities and improve its lending services. They're working on speeding up their services through technology and reducing costs, saving $693 million in 2023 and aiming for further reductions. Their Vision 2025 plan is about offering more home equity credits in several states and handling their mortgage services themselves to save more money.

Kind Lending names new COO

Former loanDepot chief operations officer joins Kind Lending's executive team

loanDepot offers $9k down payment assistance to non-prime borrowers

Program available to applicants with non-traditional credit histories

New American Funding creates new SVP role focused on minority lending

Executive joins as SVP of strategic growth and expansion

loanDepot announces new partnership

Move part of firm's initiatives to expand support for customers

Advice to mortgage newcomers: Don't do it for the money

Instead, be consistent, adaptable and focus on your branding

loanDepot accelerates loan approvals with new underwriting engine

Fully automated underwriting system streamlines mortgage processing

How one loan originator beat cancer to thrive in mortgage

She shares her story after facing life-threatening battle

2023 Mortgage Global 100

The 2023 Mortgage Global 100 recognizes the leaders and innovators from around the globe who are lifting the industry to new heights

loanDepot joins forces with EXIT Realty to enhance homebuying support

Partnership aims to offer more options and support in the homebuying psrocess

Newly created loanDepot role focuses on VA loans

Seasoned head tapped to take the lead