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LoanDepot’s Home Equity Pivot | Real Estate News
LoanDepot’s latest earnings reveal a bold pivot toward home equity lending, slashing quarterly losses from $54 million to just $6.6 million while revenue surged 18% and loan originations hit nearly $8 billion. Their new 5X5 HomeLoan product targets homeowners seeking stable, low-cost financing without risking their existing mortgage rates — tapping into the trillions in untapped home equity. To strengthen its balance sheet, LoanDepot is aggressively managing debt by buying back senior notes and selling servicing rights for cash, especially as major debt maturities loom. Meanwhile, executive…
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