234:, 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, 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.
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On
January 8, 2024 LoanDepot, in a report to the Securities and Exchange Commission, reported that "an unauthorized third party" had accessed the company's phone and loan processing systems, with the earliest access having occurred on January 4, 2024. Later in January the company said the cyberattack
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In 2020, loanDepot made $ 100 billion of mortgage originations for the first time, with just under 300,000 loans originated, which was twice the amount of loans originated the previous year, according to industry data tracker iEmergent, which also found loanDepot to be the fourth-largest mortgage
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provider based on the dollar amount of the loans. In 2020, Hsieh was paid "a special one-time discretionary bonus" of $ 42.5 million, and other executives received smaller bonuses, between $ 9 million and about $ 12 million.
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In April 2022, Hsieh stepped down from his role as chairman and CEO to become the executive chairman of the company, and Frank
Martell became president and CEO. In July 2022, LoanDepot filed a statement with the
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on
February 11, 2021, under the ticker symbol LDI. Shares were sold at $ 14 and by September 2021 had lost about half of their value, with the company valued at $ 2.2 billion.
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announcing it would reduce its workforce from 11,300 to 6,500, and that it currently had 8,500 employees. On July 12, the LoanDepot stock price was about $ 1.50 per share.
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alleging violations of a federal robocall law. In
September 2021, former LoanDepot chief operations officer Tammy Richards filed a lawsuit against the company in the
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in 2004. The company's products at the time included fixed rate, jumbo, FHA and home equity loans, in addition to more controversial
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In
November 2015, loanDepot claimed to be the second largest non-bank provider of direct-to-consumer loans in the
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In March 2021, the company bought the naming rights to
Marlins Park, the home ballpark of the
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301:"exposed sensitive personal information belonging to 16.6 million consumers in its systems."
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844:"Mortgage Giant LoanDepot Now Says Cyberattack Exposed 16 Million Customers' Personal Info"
378:"Downgrade: Here's How Analysts See loanDepot, Inc. (NYSE:LDI) Performing In The Near Term"
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618:"Apply for a home loan from your phone? That's just the start of LoanDepot's plans"
492:"Mortgage Entrepreneur Anthony Hsieh Says He's No Predator and Plans to Prove It"
207:, who had previously founded mortgage companies LoansDirect.com which he sold to
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562:"How LoanDepot's Anthony Hsieh went from cashier to mortgage billionaire"
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644:"loanDepot and Century 21 Redwood Realty create Day 1 Mortgage platform"
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holding company which sells mortgage and non-mortgage lending products.
529:"Mortgage Lender Cut Corners in Echo of 2008 Crisis, Ex-Executive Says"
288:, and in March 2022, LoanDepot was sued by shareholder Tuyet Vu in the
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In 2020, a class action lawsuit was filed against LoanDepot in the
792:"LoanDepot Loses Robocall Class Lawsuit Constitutional Challenge"
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Nonbank mortgage holding company based in Lake Forest, California
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766:"Hsieh stepping back to be loanDepot's executive chairman"
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U.S. District Court for the
Central District of California
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466:"Struggling loanDepot to cut nearly 5,000 jobs in 2022"
718:"Miami Marlins' ballpark to be renamed LoanDepot Park"
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consumer mortgages, mello mortgage technology platform
842:Edgerton, Kennedy; Nici, Dawn (January 24, 2024).
320:"LoanDepot CEO Anthony Hsieh is banking on growth"
211:in 2001, and HomeLoanCenter.com, which he sold to
912:Financial services companies of the United States
907:Financial services companies established in 2010
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937:Companies listed on the New York Stock Exchange
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590:"Mortgage lender LoanDepot halts plans for IPO"
560:Lee, Lisa; Scigliuzzo, Davide (June 9, 2021).
203:LoanDepot was founded in 2010 by entrepreneur
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669:"loanDepot Mortgage Originations 2020"
648:Mortgage Professional America Magazine
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790:Hawkins, Samantha (March 18, 2022).
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433:"Company Overview of loanDepot, Inc"
351:"LoanDepot Unveils 2 New Businesses"
588:Bomey, Nathan (November 13, 2015).
490:Sherter, Alaine (January 7, 2010).
349:Brennan, Peter (January 23, 2018).
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404:"3Q 2023 INVESTOR PRESENTATION"
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384:. YahooFinance. May 12, 2022
148:$ 1.8billion (2022 forecast)
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886:Hoard v. LoanDepot.com, LLC
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470:HousingWire
417:November 7,
362:January 22,
213:LendingTree
896:Categories
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442:Retrieved
305:References
272:Litigation
223:products.
219:(ARM) and
170:.loandepot
123:Key people
109:California
749:ignored (
728:March 31,
702:April 15,
595:USA Today
567:Bloomberg
185:loanDepot
181:LoanDepot
48:Traded as
22:LoanDepot
827:July 12,
801:July 12,
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573:July 12,
540:July 11,
497:CBS News
475:July 12,
388:July 11,
187:, is an
132:Products
64:Industry
209:E*Trade
199:History
193:nonbank
191:-based
163:Website
140:Revenue
92:Founder
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74:Founded
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411:Q4 Inc
105:Irvine
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407:(PDF)
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172:.com
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232:IPO
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