Tag Archives: loanDepot

LoanDepot founder gets wish: Ozonian joins board after face-off

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The settlement with loanDepot founder Anthony Hsieh ends a proxy fight that broke out in February after Hsieh was ousted as loanDepot’s executive chairman. Continue reading →

LoanDepot says it has ‘full access’ to $600M Signature Bank credit lines

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The struggling mortgage lender assures investors that it has moved $225 million in cash that it held at Signature Bridge Bank to another institution. Continue reading →

LoanDepot founder Anthony Hsieh determined to shake up board

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After being ousted as executive chair, Hsieh says he controls enough voting shares to install veteran real estate executive Steve Ozonian on the mortgage lender’s board of directors. Continue reading →

LoanDepot losses mount as company continues to shed workers

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The beleaguered mortgage lender racks up a $610.4 million 2022 net loss despite cutting 6,100 jobs as rising mortgage rates cut into the company’s lucrative refinancing business. Continue reading →

LoanDepot founder Anthony Hsieh ousted as executive chairman

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The founder is in a spat with the board after nominating real estate veteran Steve Ozonian to serve on the floundering mortgage lender’s board of directors. Continue reading →

UWM rolls out ‘one-time-close’ new construction loan in time for spring

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Homebuyers can put as little as 5 percent down when taking out a new construction loan, with one closing and an optional float-down to secure a lower interest rate, according to United Wholesale Mortgage. Continue reading →

Billions in losses, a brutal market and more from Q3 earnings season

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A slowing market is taking a toll on big real estate companies, though not every firm is suffering equally. A look back on the past three dramatic weeks of third-quarter wins, losses and draws. Continue reading →

After cutting Q3 losses, loanDepot has sights set on breaking even

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The troubled lender has shed 5,200 workers through layoffs and attrition and is instituting other cost-cutting measures aimed at trimming $400 million in annual expenses by the end of the year. Continue reading →

Finance of America exiting wholesale, correspondent lending

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The Irving, Texas-based lender is also reportedly in negotiations to sell its retail mortgage division, which employs about 1,000 loan originators nationwide. Continue reading →