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LoanDepot

Lawsuit Filed Against loanDepot

Lawsuit Filed Against loanDepot.com Alleges TILA Violations

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Class Action Lawsuit Filed Against loanDepot.com Alleges Loan Originator Compensation Rule Violations And TILA Violations A complaint was filed against loanDepot.Com, LLC (“loanDepot”) in the U.S. District Court for the District of Maryland. The lawsuit was filed in July. However, it received no media attention. Plaintiffs allege in the lawsuit that the company violated the […]

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Lawsuit Filed Against loanDepot.com Alleges TILA Violations Read Post »

LoanDepot is reporting

loanDepot Is Reporting A 6th Consecutive Quarterly Loss

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loanDepot Is Reporting A 6th Consecutive Quarterly Loss. Company Had A $26 Million Loss In Q3. Will loanDepot Survive 2024? SEC filings show loanDepot is reporting its sixth consecutive quarterly loss in the third quarter of 2023. The company said total revenue declined as a result of lower origination volume. However, they have made inroads with

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loanDepot Is Reporting A 6th Consecutive Quarterly Loss Read Post »

loandepot is suing movement

loanDepot Is Suing Movement For Poaching Loan Officers

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loanDepot Is Suing Movement Mortgage In Delaware Federal Court For Poaching Loan Officers loanDepot is suing Movement Mortgage In Federal Court. The company is accusing competitor Movement Mortgage of damaging its business by poaching it’s employees. The company alleges Movement Mortgage poached over 25 employees in three months. Thus, loanDepot found itself “effectively crippling” with “now-depleted” branches.

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loanDepot Is Suing Movement For Poaching Loan Officers Read Post »

loandepot budget cuts

loanDepot Budget Cuts Aren’t Stopping Hemorrhaging Losses

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loanDepot Budget Cuts Aren’t Stopping Hemorrhaging Losses As Company Sees 38% Loss In Revenue For 4th Quarter loanDepot budget cuts and significant expense reductions don’t seem to be working. The lender keeps lost money even after exiting the wholesale channel and cutting thousands of jobs. loanDepot reported heavy losses for both the fourth quarter of

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loanDepot Budget Cuts Aren’t Stopping Hemorrhaging Losses Read Post »

Shrinking loanDepot

Shrinking loanDepot Takes A $137.5M Hit In 3rd Quarter

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Shrinking loanDepot Takes A $137.5M Hit In 3rd Quarter Due To Originations Declining To $9.8 Billion In Third Quarter A sever shrinking loanDepot posted it’s third-quarter earnings. The numbers show the company’s struggles are far from over.  loanDepot reported its second consecutive quarterly loss in large part to plummeting mortgage production. The company says it expects production

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Shrinking loanDepot Takes A $137.5M Hit In 3rd Quarter Read Post »

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