Tag Archives: frank martell

LoanDepot is back in the black for the first time since Q4 2021

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Beleaguered lender ekes out $2.67 million third quarter profit, with loan originations up 9 percent from a year ago as refinancings bounce back on retreat in rates. Continue reading →

LoanDepot boosts revenue, sells servicing to restructure debt

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Pending $25 million settlement of January cyberattack adds to $66 million second-quarter net loss, but executives say they’re in a better position to grow after selling $29 billion in mortgage servicing rights. Continue reading →

To mortgage or not to mortgage? That is the question (for brokers)

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HomeLight CEO Drew Uher says he’s glad to be out of the mortgage business. Fathom CEO Marco Fregenal sees value of being in lending “in a very selective way.” Continue reading →

Affordability: It’s not just high mortgage rates and home prices

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The rising cost of construction, insurance and property taxes are creating obstacles for homebuyers that require help from real estate agents and mortgage lenders: LoanDepot CEO Frank Martell. Continue reading →

January cyberattack a $37M weight on loanDepot Q1 2024 results

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In addition to $15 million in direct costs, loanDepot says it lost an additional $22 million in revenue while systems were down, contributing to $72 million net loss. Continue reading →

A call for change is center stage this summer. Join the movement

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Anchored by industry leaders, top performers and advocacy, Inman Connect Las Vegas is primed to be a catalyst for changing real estate. Continue reading →

LoanDepot trims 2023 net loss by 37%, retains ‘strong liquidity profile’

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As mortgage rates soared last year, loanDepot saw 2023 loan origination volume plunge by 58 percent from the year before, to $22.7 billion. Continue reading →

LoanDepot warns more layoffs are coming — but on a smaller scale

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With headwinds in sight for 2024, loanDepot plans to slash $120 million in annual expenses following three consecutive quarters of cuts, CEO Frank Martell said during a Q3 earnings call Tuesday afternoon. Continue reading →