loanDepot (LDI) Misses Q1 EPS by 29c

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Go back to loanDepot (LDI) Misses Q1 EPS by 29c

loanDepot announces first quarter 2022 financial results

May 10, 2022 7:00 AM EDT

C-suite expansion adds leadership strength to accelerate execution on strategies and create long-term shareholder value

Invested in recruiting in-market retail loan officers, growing purchase volume to 37% of total originations.Announced launch of all-digital mello HELOC product.Executed on cost reduction strategy, reducing total expenses by 13% during the quarter.Market share decreased to 3.1%1 due to the intense competitive pressure from decreasing origination volume.Repurchased $97.5 million of senior notes due 2028 at an average purchase price of 87.9% of parReported quarterly... More