LoanDepot, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 04:22 pm EST
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loanDepot, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 265.66 million compared to USD 274.19 million a year ago. Net loss was USD 16.6 million compared to USD 60.08 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to USD 0.37 a year ago. Diluted loss per share from continuing operations was USD 0.09 compared to USD 0.37 a year ago.
For the nine months, revenue was USD 745.4 million compared to USD 1,086.14 million a year ago. Net loss was USD 82.95 million compared to USD 195.75 million a year ago. Basic loss per share from continuing operations was USD 0.48 compared to USD 1.29 a year ago. Diluted loss per share from continuing operations was USD 0.48 compared to USD 1.29 a year ago.
loanDepot, Inc. is a customer-centric, technology-empowered residential mortgage platform. The Company is engaged in the origination of conventional and government mortgage loans, servicing conventional and government mortgage loans, and providing ancillary services. It is engaged in originating, financing, selling, and servicing residential mortgage loans and provides title, escrow, and settlement services for mortgage loan transactions. Its technology platform, mello, serves as a lead generation tool for these loan officers, particularly focusing on purchase originations. The Company and its mellohome operating unit offer an integrated platform of lending, loan servicing, real estate and home services that support customers along their entire homeownership journey. Its loan product suite includes conventional agency-conforming loans, conventional prime jumbo loans, Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) loans, and home equity lines of credit.
LOANDEPOT, INC. 
