loanDepot
loanDepot is a U.S. nonbank mortgage and consumer-lending company headquartered in Irvine, California.
Last updated August 26, 2026
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Overview
loanDepot is a United States-based nonbank holding company focused primarily on mortgage lending and related consumer-finance products. The company was founded in 2010 by entrepreneur Anthony Hsieh, who had previously established LoansDirect.com and HomeLoanCenter.com. Its business was designed around direct-to-consumer lending, combining centralized processing, online applications, call-center distribution, and technology-supported underwriting with a national mortgage origination platform. The company initially offered a broad range of residential lending products, including fixed-rate mortgages, jumbo loans, Federal Housing Administration loans, home-equity loans, adjustable-rate mortgages, and negative-amortization products. Over time, its core activity became residential mortgage origination and refinancing, while its technology initiatives sought to reduce manual steps in the application and approval process. In 2017, loanDepot introduced technology intended to let customers apply for a mortgage without speaking directly with a loan officer. The company subsequently expanded its platform with services for home-improvement financing and a real-estate matching product called Mello Home, which connected pre-approved buyers with real-estate professionals. loanDepot also pursued partnerships and adjacent distribution models. In 2019, it worked with Century 21 Redwood Realty to create Day 1 Mortgage, a mortgage platform aimed at the mid-Atlantic market. These efforts reflected the company’s broader strategy of combining mortgage production with digital tools, home-services financing, and relationships with real-estate and contractor networks. The low-interest-rate and refinancing environment of 2020 produced a major increase in loan volume. Industry data cited by the company’s reference material indicated that loanDepot originated approximately $100 billion in mortgages that year, representing nearly 300,000 loans and making it one of the largest U.S. mortgage providers by dollar volume. The growth also drew attention to executive compensation, including a reported one-time discretionary payment to Hsieh. loanDepot became a public company on February 11, 2021, listing on the New York Stock Exchange under the symbol LDI. Its shares were sold at $14 in the initial offering, but the stock subsequently declined as mortgage-market conditions weakened and investor sentiment toward mortgage originators deteriorated. In the same year, the company obtained naming rights for the Miami Marlins’ ballpark, which was renamed loanDepot park. In April 2022, Hsieh moved from chairman and chief executive to executive chairman, while Frank Martell became president and chief executive officer. Later that year, the company announced a substantial workforce reduction as the mortgage market contracted. loanDepot has also faced litigation concerning alleged robocall-law violations, securities disclosures, employment matters, and shareholder claims. In January 2024, it disclosed a cyberattack affecting phone and loan-processing systems; the company later said that personal information belonging to approximately 16.6 million consumers had been exposed. The incident became a significant data-security event for the brand and its customers. Today, loanDepot remains an active U.S. mortgage and lending brand. Its identity is centered on residential mortgage origination, digital loan processing, refinancing and purchase financing, and selected adjacent home-finance services. Its business is sensitive to interest rates, housing activity, refinancing demand, credit conditions, regulation, cybersecurity risk, and the cyclical performance of the U.S. real-estate market.
History
loanDepot was established in 2010 by Anthony Hsieh, a mortgage entrepreneur whose earlier businesses included LoansDirect.com and HomeLoanCenter.com. The new company entered the U.S. nonbank lending market with a direct-to-consumer model and a broad product range. Early offerings included fixed-rate and jumbo mortgages, FHA loans, home-equity products, adjustable-rate mortgages, and negative-amortization loans. The company’s growth strategy combined centralized mortgage operations with digital customer acquisition and technology-supported processing. By 2015, loanDepot described itself as one of the largest nonbank direct-to-consumer lenders in the United States. It postponed a planned IPO that year because of market conditions. In 2017, the company introduced an automated application process intended to allow borrowers to proceed without direct contact with a loan officer. In 2018, it added a home-improvement financing initiative for contractors and launched Mello Home, a service designed to connect pre-approved homebuyers with real-estate agents. loanDepot continued to build distribution relationships outside its core direct channel. In 2019, it partnered with Century 21 Redwood Realty to establish Day 1 Mortgage, a platform focused on the mid-Atlantic region. The company then benefited from the unusually strong U.S. mortgage and refinancing market in 2020. Industry data cited in the reference material placed its annual mortgage originations at roughly $100 billion across nearly 300,000 loans, approximately twice the prior year’s loan count and enough to rank it among the country’s largest originators by dollar volume. After postponing an earlier offering, loanDepot became publicly listed on the New York Stock Exchange on February 11, 2021, under the symbol LDI. The IPO price was $14 per share. The company also expanded its public brand presence by acquiring naming rights to the Miami Marlins’ stadium, which was renamed loanDepot park in March 2021. The later decline in mortgage demand and changing interest-rate conditions put pressure on mortgage-originator valuations and led to a substantial decline in the company’s share price. Leadership changed in April 2022. Hsieh stepped away from the chairman and chief executive roles to become executive chairman, while Frank Martell assumed the presidency and chief executive position. As the mortgage market weakened, loanDepot announced a significant workforce reduction. The company’s subsequent operating environment has remained shaped by interest-rate volatility, lower refinancing demand, housing-market conditions, funding costs, regulatory obligations, and the need to control expenses. loanDepot has also encountered legal and operational challenges. Litigation has included a federal robocall class action, a lawsuit filed by former chief operations officer Tammy Richards, securities-fraud allegations, and a shareholder action. In January 2024, the company disclosed unauthorized access to its phone and loan-processing systems. It later stated that the incident exposed sensitive personal information associated with approximately 16.6 million consumers. The event placed additional emphasis on cybersecurity, data protection, incident response, and customer notification. The brand remains active as a U.S. mortgage and consumer-lending business. Its principal identity is associated with residential mortgage origination, purchase loans, refinancing, online lending workflows, and selected home-improvement and home-finance services. Its history illustrates the expansion of digitally enabled nonbank mortgage lenders during periods of strong housing credit demand, followed by the operational, financial, legal, and technology pressures that arise when the mortgage cycle turns.
- 2024
Cybersecurity incident disclosed
[1]loanDepot disclosed unauthorized access to systems and later reported exposure of information associated with approximately 16.6 million consumers.
- 2022
Chief executive transition
[1]Anthony Hsieh became executive chairman and Frank Martell became president and chief executive officer.
- 2021
Public listing on the NYSE
[1]loanDepot began trading on the New York Stock Exchange under the ticker LDI.
- 2021
loanDepot park naming-rights agreement
[1]The Miami Marlins’ home ballpark was renamed loanDepot park after the company acquired naming rights.
- 2020
Mortgage originations reach approximately $100 billion
[1]Industry data cited by the reference material placed loanDepot’s annual mortgage originations at approximately $100 billion.
- 2019
Day 1 Mortgage partnership formed
[1]loanDepot and Century 21 Redwood Realty created a mortgage platform for the mid-Atlantic market.
- 2018
Mello Home and home-improvement financing announced
[1]The company expanded its technology platform with contractor financing and a real-estate connection service for pre-approved buyers.
- 2017
Automated mortgage application introduced
[1]loanDepot introduced technology designed to let customers apply for mortgages without speaking with a loan officer.
- 2015
Planned IPO postponed
[1]The company postponed a planned initial public offering because of market conditions.
- 2010
Company founded
[1]Anthony Hsieh founded loanDepot as a U.S. nonbank lender serving consumers through direct mortgage and lending channels.
Products and positioning
A technology-enabled, direct-to-consumer U.S. mortgage lender offering residential financing and related home-finance services through digital and centralized lending channels.
Mortgage lending · 2010
Residential purchase mortgages
loanDepot originates mortgages for consumers purchasing residential property. These loans form part of the company’s core U.S. mortgage business and are supported by digital applications, centralized processing, and customer-service channels. Purchase lending is influenced by housing inventory, home prices, interest rates, borrower credit, and broader real-estate activity.
Mortgage lending · 2010
Mortgage refinancing
Refinancing allows existing homeowners to replace an outstanding mortgage with a new loan, potentially changing the interest rate, term, or repayment structure. It has historically been an important channel for nonbank mortgage lenders, although demand is highly sensitive to rate movements and the spread between existing and available mortgage rates.
Mortgage lending · 2010
Fixed-rate and jumbo mortgages
The company’s mortgage range has included conventional fixed-rate products and jumbo loans. Fixed-rate loans provide a stable interest rate over the agreed term, while jumbo loans serve borrowers seeking financing above conforming loan limits and generally involve different underwriting and documentation requirements.
Consumer lending · 2010
FHA and home-equity loans
loanDepot has offered FHA-backed mortgage products and home-equity lending. FHA loans are designed for eligible borrowers under federal housing-program rules, while home-equity loans allow qualifying homeowners to borrow against property equity. Availability and terms depend on underwriting, regulation, property characteristics, and market conditions.
Consumer lending · 2018
Home-improvement financing
Announced as part of the company’s technology-platform expansion, the home-improvement financing initiative was intended to let contractors offer financing to customers undertaking renovation or improvement projects. It extended loanDepot’s reach beyond traditional purchase and refinance transactions into adjacent home-related credit.
Real-estate technology · 2018
Mello Home
Mello Home was introduced as a platform connecting pre-approved homebuyers with realtors. The service reflected loanDepot’s effort to link mortgage origination with the wider home-purchase journey and to use technology to improve lead distribution and customer handoffs.
Marketing campaigns
- 2021loanDepot park naming-rights partnership
United States · Miami, Florida
loanDepot acquired naming rights to the Miami Marlins’ home stadium, creating a prominent sports-marketing platform and changing the venue’s name to loanDepot park.
Outcome. The ballpark adopted the loanDepot name.
Brand decisions
2022
Executive leadership transitionOtherBackground
The company changed its senior leadership as the mortgage market entered a more difficult phase.
Action taken
Anthony Hsieh became executive chairman, while Frank Martell became president and chief executive officer.
Aftermath
Martell assumed responsibility for day-to-day executive leadership.
2022
Workforce reductionStrategyBackground
The mortgage market contracted after the high-volume period associated with low interest rates and elevated refinancing demand.
Action taken
loanDepot announced plans to reduce its workforce substantially.
Aftermath
The measure formed part of the company’s response to lower mortgage activity and the need to reduce operating costs.
2021
NYSE public offeringOtherBackground
After postponing an earlier IPO, loanDepot pursued a public-market listing.
Action taken
The company listed on the New York Stock Exchange under LDI, with shares sold at $14 in the offering.
Aftermath
The stock later declined substantially as mortgage-market conditions and investor sentiment weakened.
Initial offering share price. $14 per share at offering (February 2021)
2017
Launch of automated mortgage-application technologyProduct launchBackground
The company sought to reduce friction in the mortgage process and expand digital self-service.
Action taken
loanDepot introduced technology allowing customers to apply for a mortgage without speaking directly with a loan officer.
Aftermath
The initiative strengthened the brand’s positioning as a technology-enabled direct lender.
2015
Postponement of planned IPOOtherBackground
loanDepot had planned to enter the public markets but faced unfavorable market conditions.
Action taken
The company postponed the offering.
Aftermath
loanDepot later completed its public listing in 2021.
Recent events
loanDepot to sponsor Winter Wonderland event[3]
Reported:
loanDepot announced that it would donate $50,000 to Boys & Girls Clubs of Central Orange Coast and serve as title sponsor of the organization's Winter Wonderland event, scheduled for December 18, 2021.
loanDepot announces $2 million charitable donation[4]
Reported:
loanDepot announced a $2 million donation for individuals and families affected by the COVID-19 pandemic and charitable partner organizations. The source says the donation would be made during the holiday season; it does not establish that the funds had already been distributed.
Sources4 sources
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