New package combines real estate and financing offering with title and homeowner insurance services
Non-bank lender loanDepot has partnered with its sister company, real estate firm mellohome, to launch a proprietary bundle of home buying and selling services.
The loanDepot “Grand Slam” package, which takes its name from the firm’s position as the official mortgage provider of Major League Baseball, combines the professional real estate services of mellohome with the home financing services of loanDepot, along with title and homeowner insurance services.
Customers of the package will be eligible for benefits such as up to $7,000 cash back from mellohome at the close of the transaction; a close-on-time guarantee of $1,000 cash back if the company fails to close the transaction within 25 days of the customer’s preapproval; a digital home security system; and a $100 DoorDash gift card.
In a statement, loanDepot said that, through mellohome, it is able to connect customers with “a network of more than 4,000 top tier real estate professionals in major markets across the country.”
“Title services are available in 44 states through American Coast Title and Closing USA, both LDI companies, while home insurance services provided exclusively by loanDepot’s agent partner are also available,” the firm said in its statement.
“Since our launch 11 years ago, we have invested heavily in digital innovations that make the mortgage process simpler, easier and more rewarding,” said Anthony Hsieh, founder and chief executive officer of loanDepot. “The loanDepot Grand Slam represents a significant step toward our vision to become the most trusted homeowner fulfillment company in the world.”