Loandepot Inc
NYSE:LDI
Loandepot Inc
loanDepot, Inc. engages in the consumer lending business. The company is headquartered in Foothill Ranch, California and currently employs 11,307 full-time employees. The company went IPO on 2021-02-11. The firm originates conventional and government mortgage loans, servicing conventional and government mortgage loans and provides a suite of ancillary services. The company has built mello, the technology platform that functions across all aspects of its business, including lead generation, origination, data integration, processing, closing, and servicing. mello creates a user interface on the front-end and also integrates data from its vendors and internal data sources. mello applies intelligent logic-based underwriting parameters to automatically determine and validate loans. The company has a loan product suite, including conventional agency-conforming loans, conventional prime jumbo loans, Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) loans, and home equity loans. The firm's ancillary businesses include settlement services, real estate services and insurance services.
loanDepot, Inc. engages in the consumer lending business. The company is headquartered in Foothill Ranch, California and currently employs 11,307 full-time employees. The company went IPO on 2021-02-11. The firm originates conventional and government mortgage loans, servicing conventional and government mortgage loans and provides a suite of ancillary services. The company has built mello, the technology platform that functions across all aspects of its business, including lead generation, origination, data integration, processing, closing, and servicing. mello creates a user interface on the front-end and also integrates data from its vendors and internal data sources. mello applies intelligent logic-based underwriting parameters to automatically determine and validate loans. The company has a loan product suite, including conventional agency-conforming loans, conventional prime jumbo loans, Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) loans, and home equity loans. The firm's ancillary businesses include settlement services, real estate services and insurance services.
Volume: Originations were $8.0 billion in Q4 — the highest since 2022 — up from $6.5 billion in Q3, and within prior quarter guidance of $6.5–$8.5 billion.
Profitability: Adjusted net loss widened to $21 million in Q4 from $3 million in Q3, driven by lower pull-through weighted gain on sale margin and higher MSR amortization and personnel costs.
Margins: Pull-through weighted gain on sale margin was 324 bps in Q4 (down from 339 bps in Q3) but at the high end of the company's prior guidance range of 300–325 bps.
Servicing & Retention: Servicing recapture remained strong at 71%, servicing fee income was $113 million in Q4, and management emphasized using recapture and vertical integration to drive future growth.
Guidance: Q1 2026 expectations: pull-through weighted lock volume $7.75–$8.75 billion, origination volume $6.75–$7.75 billion, and gain on sale margin 270–300 bps.
Investment & Efficiency: Management is investing in AI and digital marketing to lower customer acquisition costs and expects non-volume OpEx to rise modestly for tech and innovation while volume-related expenses drive incremental increases.
Liquidity: Cash was $337 million at quarter end, down $122 million from Q3, reflecting loan inventory investments and full repayment of 2025 unsecured notes.
