Office address: 6561 Irvine Center Drive, Irvine, CA 92618
Website: www.loandepot.com
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.
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.
loanDepot's products and services offer a variety of mortgage and financing solutions:
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:
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.
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:
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.
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