Loandepot Inc Stock Price, News & Analysis

loanDepot (NYSE: LDI) has announced the release date for its first quarter 2021 financial results on May 3, 2021. Following the announcement, management will host a conference call at 11:00 a.m. ET, accessible via their Investor Relations website. The press release includes forward-looking statements regarding the company’s operations and financial performance, subject to various risks and uncertainties.

loanDepot, based in Foothill Ranch, California, has declared a special cash dividend of $200 million, translating to $0.612 per share for Class A common stock and $0.615 per unit for Class D common stock. This dividend will be paid on May 18, 2021, to stockholders of record as of May 3, 2021. Additionally, a lock-up agreement has been adjusted allowing the release of 6 million shares of common stock to enhance liquidity, effective May 17, 2021.

loanDepot (NYSE: LDI) has secured exclusive naming rights for loanDepot park, home of the Miami Marlins, marking a significant partnership in the sports arena. This multi-year agreement positions loanDepot as the Official Mortgage Provider of Major League Baseball and the Miami Marlins, enhancing its visibility. CEO Anthony Hsieh noted the company's rapid growth, funding over $300 billion since inception. The partnership includes community initiatives, such as donations tied to Marlins' performance, aiming to engage the South Florida community and promote youth baseball.

loanDepot's subsidiary, LD Holdings Group, has upsized its offering of senior unsecured notes from $500 million to $600 million, priced at 6.125% and due in 2028. The closing is expected on March 26, 2021. Proceeds will reduce operating debt and fund a special dividend for Class A, Class D shareholders, and Holdco Units. The notes are offered to qualified institutional buyers and non-U.S. persons only, as they are unregistered under the Securities Act. This announcement reflects loanDepot's strengthening financial strategy.

loanDepot announced a private offering of $500 million in senior unsecured notes through its subsidiary, LD Holdings Group LLC. The offerings are subject to market conditions and will be initially guaranteed by several wholly-owned subsidiaries. Proceeds will be used for general corporate purposes, including paying down debt and funding a special dividend for equity holders. The notes will not be registered under the Securities Act and are available only to qualified institutional buyers or non-U.S. persons.

loanDepot (NYSE: LDI) has partnered with Schell Brothers to launch Henlopen Mortgage, a joint venture aimed at enhancing home buying experiences. This collaboration combines Schell Brothers’ quality home options with loanDepot’s advanced lending platform powered by mello™ technology. The new venture will provide home buyers in Delaware and Virginia with seamless borrowing solutions. Dan Peña from loanDepot expressed excitement over the partnership, highlighting its alignment with the company's vision to deliver exceptional customer experiences in the mortgage industry.

loanDepot (NYSE: LDI) reported robust financial results for Q4 and the full year 2020, showcasing significant growth in loan origination volume and revenue. The company achieved record rate lock volume of $49.7 billion in Q4, leading to total revenue of $1.3 billion, a 5% decline from Q3 due to normalized gain on sale margins of 3.38%. For the full year, total revenue hit $4.3 billion, reflecting a 223% increase from 2019. Although net income fell to $547.2 million in Q4, it totaled $2 billion for the year. The company reported a 28% decrease in customer acquisition cost year-over-year, enhancing profitability prospects.

loanDepot (NYSE: LDI) will release its Q4 and full year 2020 earnings on February 18, 2021. A conference call will follow at 11:00 a.m. ET, accessible via the company's Investor Relations website. The company has funded over $275 billion since its launch in 2010, ranking as the second largest retail nonbank lender in the U.S. loanDepot emphasizes its commitment to customer service and community support, recently donating $2.5 million to assist COVID-19 impacted individuals.

LD Holdings Group LLC has announced the launch of loanDepot's initial public offering (IPO) of 15 million shares of Class A common stock, priced between $19.00 and $21.00 per share. The offering includes 9.41 million shares from loanDepot and 5.59 million shares from Parthenon Capital Partners. Goldman Sachs, BofA Securities, Credit Suisse, and Morgan Stanley are leading the offering. The IPO is subject to market conditions and includes a 30-day option for underwriters to purchase additional shares.