loanDepot, Inc. (NYSE: LDI) today announced the closing of a $300 million transaction through an offering of notes by Mello Warehouse Securitization Trust 2024-1 (“MWST Notes”). This marks the tenth transaction of this kind that loanDepot has successfully consummated.
The MWST Notes are backed by a revolving warehouse line of credit, secured by newly originated, first-lien, fixed-rate or adjustable-rate residential mortgage loans. These loans are originated in accordance with the criteria of Fannie Mae or Freddie Mac for the purchase of mortgage loans or in accordance with the criteria of Ginnie Mae for the guarantee of securities backed by mortgage loans and certain other eligibility criteria.
"This transaction further demonstrates the strength and breadth of loanDepot’s financing strategy and attractive capital raising alternatives, as we continue our focus on delivering exceptional service to our customers throughout the entirety of their homeownership journey," said loanDepot Chief Financial Officer David Hayes.
About loanDepot
At loanDepot (NYSE: LDI), we know home means everything. That’s why we are on a mission to support homeowners with a suite of products and services that fuel the American Dream. Our portfolio of digital-first home purchase, home refinance and home equity lending products make homeownership more accessible, achievable, and rewarding, especially for the increasingly diverse communities of first-time homebuyers we serve. Headquartered in Southern California with local market offices nationwide, loanDepot and its sister real estate and home services company, mellohome, are dedicated to helping customers put down roots and bring dreams to life – all while building stronger communities and a better tomorrow.
Forward-Looking Statements
This press release may contain "forward-looking statements," which reflect loanDepot's current views with respect to, among other things, our future operations, performance, financial condition, plans, strategies, capital raising alternatives and customer service. These forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and may contain the words “outlook,” “potential,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “predict,” “estimate,” “project,” “will be,” “will continue,” “will likely result,” or other similar words and phrases or future or conditional verbs such as “will,” “may,” “might,” “should,” “would,” or “could” and the negatives of those terms. These forward-looking statements are based on current available operating, financial, economic and other information, and are not guarantees of future performance and are subject to risks, uncertainties and assumptions, including but not limited to, the following: our ability to maintain an operating platform and management system sufficient to conduct our business; failure for our new products, services, enhancements or expansions to achieve sufficient market acceptance or result in anticipated efficiencies and revenues; our ability to successfully adapt to and implement technological changes; our reliance on warehouse lines of credit and other sources of capital and liquidity to meet the financing requirements of our business; adverse changes in macroeconomic and U.S residential real estate and mortgage market conditions, including increases in interest rate levels; changing federal, state and local laws, as well as changing regulatory enforcement policies and priorities; and other risks detailed in the "Risk Factors" section of loanDepot, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Reports on Form 10-Q as well as any subsequent filings with the Securities and Exchange Commission, which are difficult to predict. Therefore, current plans, anticipated actions, financial results, as well as the anticipated development of the industry, may differ materially from what is expressed or forecasted in any forward-looking statement. loanDepot does not undertake any obligation to publicly update or revise any forward-looking statement to reflect future events or circumstances, except as required by applicable law.
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