Tag: shrinking loandepot
loanDepot Is Reporting A 6th Consecutive Quarterly Loss
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…
New LoanDepot Shareholder Lawsuit Filed
LoanDepot Shareholder Lawsuit Alleges Investor Deception and Breach of Fiduciary Duty Plague The Mortgage Firm LoanDepot is facing another shareholder lawsuit. Plaintiffs in the latest LoanDepot shareholder lawsuit filed it in Delaware. Plaintiffs allege that investors were misled before its 2021 initial public offering (IPO). This is the latest in a series of legal complications…
loanDepot Is Suing Movement For Poaching Loan Officers
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….
loanDepot Budget Cuts Aren’t Stopping Hemorrhaging Losses
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…
Shrinking loanDepot Takes A $137.5M Hit In 3rd Quarter
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…