Company delivers market share gains and operational progress amid a challenging market.
First Quarter 2026 Highlights:
-- Loan origination volume decreased 5% to $7.66 billion from the prior
quarter, while market share increased to 1.39%1.
-- Revenue decreased 8% to $286 million and adjusted revenue decreased 5%
to $299 million compared to the prior quarter, primarily impacted by
volatile interest rates and margin pressure.
-- Pull-through weighted gain on sale margin decreased 53 basis points to
271 basis points on larger loan balances, product mix shifts and market
volatility during the quarter.
-- Expenses decreased 0.2% to $342 million from the prior quarter on lower
commissions and marketing costs, reflecting the benefits of our
productivity initiatives.
-- Net loss was $55 million, compared with a net loss of $33 million in
the prior quarter.
-- Adjusted net loss was $34 million, compared with adjusted net loss of
$21 million in the prior quarter.
-- Adjusted EBITDA was $14 million, compared to adjusted EBITDA of $29
million in the prior quarter.
-- Cash balance was $277 million, down from $337 million in the prior
quarter, primarily reflecting investment in our servicing rights.
IRVINE, Calif.--(BUSINESS WIRE)--May 05, 2026--
loanDepot, Inc. (NYSE: LDI), (together with its subsidiaries, "loanDepot" or the "Company"), today announced results for the first quarter ended March 31, 2026.
"During the first quarter, we continued to see positive results from our investments in growth and efficiency initiatives," said Founder and Chief Executive Officer, Anthony Hsieh. "Despite a volatile market environment, we increased market share. At the same time, we made meaningful progress behind the scenes on our long-term initiatives by expanding our revenue--generating capabilities, improving operating leverage, and driving marketing efficiency.
Hsieh continued, "Since my return as CEO, I have been laser focused on our digital transformation as a key enabler of our return to a market leading position. We have focused on fully leveraging our unique assets and strategy, including one of the most differentiated customer acquisition and retention business models in the marketplace today. This includes rebuilding our management team with deep mortgage, technology, and marketing IQ; opening up our wholesale channel and increasing our loan officers to drive top line and market share growth; reducing costs and increasing operating leverage; and applying advanced automation and technology across the origination and servicing lifecycle.
Hsieh concluded, "Our recently announced partnership with Figure Technology Solutions is expected to meaningfully accelerate our work and is delivering promising early results. As we integrate this platform across our channels, we expect to lower our cost of production, improve the customer experience, close more loans more quickly and advance our long-term objective of profitable market share growth. Importantly, it also positions us to introduce new and innovative products that expand the way we serve borrowers in the future and capitalize on market improvements."
____________________
(1) Based on data published by Mortgage Bankers Association on April 20,
2026.
Added Chief Financial Officer, David Hayes, "The quarter reflected continued progress toward sustainable profitability, offset by geopolitically driven market volatility. We grew pull--through weighted lock volume by 14% from the prior quarter while reducing marketing costs by 12%, reflecting improvements in mid--funnel lead conversion and sharpened marketing strategies. However, market headwinds during the quarter contributed to a 53 bps decrease in our pull-through weighted gain on sale margin and wider negative fair value marks on our mortgage servicing rights and trading securities, resulting in lower revenue."
First Quarter Highlights:
Financial Summary
Three Months Ended
-----------------------------------------------
($ in thousands
except per share Mar 31, Dec 31, Mar 31,
data) (Unaudited) 2026 2025 2025
--------------- -------------- --------------
Rate lock volume $11,445,494 $9,998,709 $7,637,987
Pull-through
weighted lock
volume(1) 8,274,191 7,277,203 5,418,685
Loan origination
volume 7,658,619 8,041,115 5,173,928
Gain on sale
margin(2) 2.93% 2.94% 3.72%
Pull-through
weighted gain on
sale margin(3) 2.71% 3.24% 3.55%
Financial Results
Total revenue $ 286,387 $ 310,260 $ 273,620
Total expense 341,500 342,065 319,723
Net loss (54,942) (32,827) (40,696)
Diluted loss per
share $ (0.16) $ (0.10) $ (0.11)
Non-GAAP Financial
Measures(4)
Adjusted total
revenue $ 299,250 $ 316,274 $ 278,443
Adjusted net loss (33,624) (21,474) (25,335)
Adjusted EBITDA 14,305 29,316 18,298
(1) Pull-through weighted rate lock volume is the principal balance of
loans subject to interest rate lock commitments, net of a
pull-through factor for the loan funding probability.
(2) Gain on sale margin represents the total of (i) gain on origination
and sale of loans, net, and (ii) origination income, net, divided by
loan origination volume during period.
(3) Pull-through weighted gain on sale margin represents the total of (i)
gain on origination and sale of loans, net, and (ii) origination
income, net, divided by the pull-through weighted rate lock volume.
(4) See "Non-GAAP Financial Measures" for a discussion of Non-GAAP
Financial Measures and a reconciliation of these metrics to their
closest GAAP measure.
Operational Highlights
-- Non-volume2 related expenses increased $5.1 million from the fourth
quarter of 2025, primarily reflecting higher salary-related costs.
-- Pull-through weighted lock volume of $8.3 billion for the first quarter
of 2026, an increase of $1.0 billion or 14% from the fourth quarter of
2025.
-- Loan origination volume for the first quarter of 2026 was $7.7 billion,
a decrease of $382.5 million or 5% from the fourth quarter of 2025.
-- Purchase volume totaled 41% of total loans originated during the first
quarter, down from 49% during the fourth quarter of 2025.
-- Our preliminary organic refinance consumer direct recapture rate3
increased to 73% for the first quarter from the fourth quarter 2025's
recapture rate of 71%.
Outlook for the second quarter of 2026
-- Origination volume of between $7.25 billion and $9.25 billion.
-- Pull-through weighted rate lock volume of between $5.75 billion and
$7.75 billion.
-- Pull-through weighted gain on sale margin of between 330 basis points
and 360 basis points.
____________________
(2) Volume related expenses include commissions, marketing and advertising
expense, and direct origination expense. All remaining expenses are
considered non-volume related.
(3) We define organic refinance consumer direct recapture rate as the total
unpaid principal balance ("UPB") of loans in our servicing portfolio
that are paid in full for purposes of refinancing the loan on the same
property, with the Company acting as lender on both the existing and new
loan, divided by the UPB of all loans in our servicing portfolio that
paid in full for the purpose of refinancing the loan on the same
property. The recapture rate is finalized following the publication date
of this release when external data becomes available. Data is as of
April 20, 2026.
Servicing
Three Months Ended
---------------------------------
Servicing Revenue Data:
($ in thousands) Mar 31, Dec 31, Mar 31,
(Unaudited) 2026 2025 2025
--------- --------- -----------
Due to collection/realization
of cash flows $(51,442) $(52,715) $(36,176)
Due to changes in valuation
inputs or assumptions 448 (1,844) (23,689)
Realized gains (losses) on
sale of servicing rights (888) 145 62
Net (loss) gain from
derivatives hedging
servicing rights (12,423) (4,315) 18,804
------- ------- -------
Changes in fair value of
servicing rights, net of
hedging gains and losses (12,863) (6,014) (4,823)
Other realized losses on
sales of servicing rights
(1) (54) (127) (104)
------- ------- -------
Changes in fair value of
servicing rights, net $(64,359) $(58,856) $(41,103)
======= ======= =======
Servicing fee income $108,749 $112,932 $104,278
======= ======= =======
(1) Includes the provision for sold MSRs and broker fees.
Three Months Ended
---------------------------------------
Servicing Rights, at Fair
Value: ($ in thousands) Mar 31, Dec 31, Mar 31,
(Unaudited) 2026 2025 2025
----------- ----------- -------------
Balance at beginning of
period $1,637,706 $1,618,259 $1,615,510
Additions 87,150 82,650 52,686
Sales proceeds (3,326) (8,789) (5,362)
Changes in fair value:
Due to changes in
valuation inputs or
assumptions 448 (1,844) (23,689)
Due to
collection/realization
of cash flows (51,442) (52,715) (36,176)
Realized gains (losses)
on sales of servicing
rights (888) 145 62
--------- --------- ---------
Total changes in
fair value (51,882) (54,414) (59,803)
--------- --------- ---------
Balance at end of period
(1) $1,669,648 $1,637,706 $1,603,031
========= ========= =========
(1) Balances are net of $21.6 million, $20.5 million, and $18.5 million
of servicing rights liability as of March 31, 2026, December 31,
2025, and March 31, 2025, respectively.
% Change
-------------------
Servicing
Portfolio Data: ($ Mar-26 Mar-26
in thousands) Mar 31, Dec 31, Mar 31, vs vs
(Unaudited) 2026 2025 2025 Dec-25 Mar-25
------------------ ---------------- ---------------- ---------------- -------- ---------
Servicing
portfolio (unpaid
principal
balance) $120,674,154 $119,096,243 $116,604,153 1.3% 3.5%
Total servicing
portfolio
(units) 455,634 448,261 424,719 1.6 7.3
60+ days
delinquent ($) $ 2,113,465 $ 1,909,082 $ 1,789,276 10.7 18.1
60+ days
delinquent (%) 1.8% 1.6% 1.5%
Servicing rights,
net to UPB 1.4% 1.4% 1.4%
Balance Sheet Highlights
% Change
--------------------
Mar-26 Mar-26
($ in thousands) Mar 31, Dec 31, Mar 31, vs vs
(Unaudited) 2026 2025 2025 Dec-25 Mar-25
------------------ ---------- ---------- ---------- --------- ---------
Cash and cash
equivalents $ 277,418 $ 337,232 $ 371,480 (17.7)% (25.3)%
Loans held for
sale, at fair
value 3,266,759 3,165,542 2,765,417 3.2 18.1
Loans held for
investment, at
fair value 108,227 109,821 114,447 (1.5) (5.4)
Servicing rights,
at fair value 1,691,235 1,658,223 1,621,494 2.0 4.3
Total assets 7,246,519 6,857,936 6,416,714 5.7 12.9
Warehouse and
other lines of
credit 3,024,131 2,902,539 2,490,447 4.2 21.4
Total liabilities 6,909,223 6,471,926 5,947,416 6.8 16.2
Total equity 337,296 386,010 469,298 (12.6) (28.1)
An increase in loans held for sale at March 31, 2026, resulted in a corresponding increase in the balance on our warehouse lines of credit. Total funding capacity with our lending partners was $4.2 billion at March 31, 2026 and December 31, 2025. Available borrowing capacity was $1.2 billion at March 31, 2026.
Consolidated Statements of Operations
($ in thousands
except per share
data) (Unaudited) Three Months Ended
---------------------------------------------
Mar 31, Dec 31, Mar 31,
2026 2025 2025
------------- ------------- ---------------
REVENUES:
Interest income $ 39,383 $ 42,847 $ 35,070
Interest expense (36,679) (40,588) (31,762)
----------- ----------- -----------
Net interest
income 2,704 2,259 3,308
Gain on
origination and
sale of loans,
net 192,006 199,896 166,376
Origination
income, net 32,622 36,180 25,858
Servicing fee
income 108,749 112,932 104,278
Change in fair
value of
servicing rights,
net (64,359) (58,856) (41,103)
Other income 14,665 17,849 14,903
----------- ----------- -----------
Total net
revenues 286,387 310,260 273,620
EXPENSES:
Personnel expense 175,367 176,091 150,161
Marketing and
advertising
expense 29,006 32,860 38,250
Direct origination
expense 25,088 19,165 21,954
General and
administrative
expense 46,881 47,873 44,132
Occupancy expense 4,275 4,161 4,295
Depreciation and
amortization 6,335 5,447 7,666
Servicing expense 11,478 12,810 10,000
Other interest
expense 43,070 43,658 43,265
----------- ----------- -----------
Total expenses 341,500 342,065 319,723
----------- ----------- -----------
Loss before income
taxes (55,113) (31,805) (46,103)
Income tax
(benefit)
expense (171) 1,022 (5,407)
----------- ----------- -----------
Net loss (54,942) (32,827) (40,696)
Net loss
attributable
to
noncontrolling
interests (17,455) (10,347) (18,800)
----------- ----------- -----------
Net loss
attributable
to loanDepot,
Inc. $ (37,487) $ (22,480) $ (21,896)
=========== =========== ===========
Basic loss per
share $ (0.16) $ (0.10) $ (0.11)
Diluted loss
per share $ (0.16) $ (0.10) $ (0.11)
Weighted average
shares
outstanding
Basic 228,962,329 223,756,158 200,792,570
Diluted 228,962,329 223,756,158 200,792,570
Consolidated Balance Sheets
Mar 31, Dec 31,
($ in thousands) 2026 2025
---------- ----------
(Unaudited)
ASSETS
Cash and cash equivalents $ 277,418 $ 337,232
Restricted cash 79,770 63,790
Loans held for sale, at fair value 3,266,759 3,165,542
Loans held for investment, at fair value 108,227 109,821
Derivative assets, at fair value 70,076 42,365
Servicing rights, at fair value 1,691,235 1,658,223
Trading securities, at fair value 83,722 85,640
Property and equipment, net 63,514 61,929
Operating lease right-of-use asset 24,592 23,877
Loans eligible for repurchase 1,344,573 1,074,386
Investments in joint ventures 18,101 18,251
Other assets 218,532 216,880
--------- ---------
Total assets $7,246,519 $6,857,936
========= =========
LIABILITIES AND EQUITY
LIABILITIES:
Warehouse and other lines of credit $3,024,131 $2,902,539
Accounts payable and accrued expenses 374,374 349,350
Derivative liabilities, at fair value 17,253 10,718
Liability for loans eligible for
repurchase 1,344,573 1,074,386
Operating lease liability 34,325 34,630
Debt obligations, net 2,114,567 2,100,303
--------- ---------
Total liabilities 6,909,223 6,471,926
EQUITY:
Total equity 337,296 386,010
--------- ---------
Total liabilities and equity $7,246,519 $6,857,936
========= =========
Loan Origination and Sales Data
Three Months Ended
-------------------------------- ----------------------------------
($ in thousands) Mar 31, Dec 31, Mar 31,
(Unaudited) 2026 2025 2025
-------------------------------- ---------- ---------- ----------
Loan origination volume by type:
Conventional conforming $3,933,312 $3,785,304 $2,118,866
FHA/VA/USDA 2,486,444 2,927,994 2,121,208
Jumbo 668,245 643,953 319,390
Other 570,618 683,864 614,464
--------- --------- ---------
Total $7,658,619 $8,041,115 $5,173,928
========= ========= =========
Loan origination volume by purpose:
Purchase $3,159,251 $3,923,759 $3,063,914
Refinance - cash out 2,628,228 2,640,640 1,847,176
Refinance - rate/term 1,871,140 1,476,716 262,838
--------- --------- ---------
Total $7,658,619 $8,041,115 $5,173,928
========= ========= =========
Loans sold:
Servicing retained $5,749,016 $5,247,355 $3,453,710
Servicing released 1,924,638 2,284,810 1,713,963
--------- --------- ---------
Total $7,673,654 $7,532,165 $5,167,673
========= ========= =========
First Quarter Earnings Call
Management will host a conference call and live webcast today at 5:00 p.m. ET to discuss the Company's financial and operational highlights followed by a question-and-answer session.
Register online at https://events.q4inc.com/attendee/833959793. A live audio webcast of the conference call will also be available via the Company's website, investors.loandepot.com, under the Events & Presentation tab. A replay of the webcast will be made available following the conclusion of the event.
For more information about loanDepot, please visit the company's Investor Relations website: investors.loandepot.com.
Non-GAAP Financial Measures
To provide investors with information in addition to our results as determined by GAAP, we disclose certain non-GAAP measures to assist investors in evaluating our financial results. We believe these non-GAAP measures provide useful information to investors regarding our results of operations because each measure assists both investors and management in analyzing and benchmarking the performance and value of our business. They facilitate company-to-company operating performance comparisons by backing out potential differences caused by variations in hedging strategies, changes in valuations, capital structures (affecting interest expense on non-funding debt), taxation, the age and book depreciation of facilities (affecting relative depreciation expense), and other cost or benefit items which may vary for different companies for reasons unrelated to operating performance. These non-GAAP measures include our Adjusted Total Revenue, Adjusted Net Loss, Adjusted Diluted Weighted Average Shares Outstanding, and Adjusted EBITDA. We exclude from these non-GAAP financial measures the change in fair value of MSRs, gains (losses) from the sale of MSRs, and related hedging gains and losses that represent realized and unrealized adjustments resulting from changes in valuation, mostly due to changes in market interest rates, and are not indicative of the Company's operating performance or results of operation. We have excluded expenses directly related to the cybersecurity incident in January 2024 that resulted from unauthorized access to our systems (the "Cybersecurity Incident"), net of insurance recoveries during fiscal 2024, such as costs to investigate and remediate the Cybersecurity Incident, the costs of customer notifications and identity protection, and professional fees, including legal expenses, litigation settlement costs, and commission guarantees. We also exclude stock-based compensation expense, which is a non-cash expense, gains or losses on extinguishment of debt and disposal of fixed assets, and impairment charges to operating lease right-of-use assets, as well as certain costs associated with our restructuring efforts, as management does not consider these costs to be indicative of our performance or results of operations. Adjusted EBITDA includes interest expense on funding facilities, which are recorded as a component of "net interest income," as these expenses are a direct operating expense driven by loan origination volume. By contrast, interest expense on our non-funding debt is a function of our capital structure and is therefore excluded from Adjusted EBITDA. Adjustments for income taxes are made to reflect historical results of operations on the basis that it was taxed as a corporation under the Internal Revenue Code, and therefore subject to U.S. federal, state, and local income taxes. Adjustments to Diluted Weighted Average Shares Outstanding assumes the pro forma conversion of weighted average Class B and Class C common stock to Class A common stock. These non-GAAP measures have limitations as analytical tools and should not be considered in isolation or as a substitute for revenue, net income, or any other operating performance measure calculated in accordance with GAAP, and may not be comparable to a similarly titled measure reported by other companies. Some of these limitations are:
-- They do not reflect every cash expenditure, future requirements for
capital expenditures or contractual commitments;
-- Adjusted EBITDA does not reflect the significant interest expense or
the cash requirements necessary to service interest or principal payment
on our debt;
-- Although depreciation and amortization are non-cash charges, the assets
being depreciated and amortized will often have to be replaced or require
improvements in the future, and Adjusted Total Revenue, Adjusted Net Loss,
and Adjusted EBITDA do not reflect any cash requirement for such
replacements or improvements; and
-- They are not adjusted for all non-cash income or expense items that are
reflected in our statements of cash flows.
Because of these limitations, Adjusted Total Revenue, Adjusted Net Loss, Adjusted Diluted Weighted Average Shares Outstanding, and Adjusted EBITDA are not intended as alternatives to total revenue, net loss, net loss attributable to the Company, or as an indicator of our operating performance and should not be considered as measures of discretionary cash available to us to invest in the growth of our business or as measures of cash that will be available to us to meet our obligations. We compensate for these limitations by using Adjusted Total Revenue, Adjusted Net Loss, Adjusted Diluted Weighted Average Shares Outstanding, and Adjusted EBITDA along with other comparative tools, together with U.S. GAAP measurements, to assist in the evaluation of operating performance. See below for a reconciliation of these non-GAAP measures to their most comparable U.S. GAAP measures.
Three Months Ended
-------------------------------------- ----------------------------
Reconciliation of Total Revenue to
Adjusted Total Revenue ($ in Mar 31, Dec 31, Mar 31,
thousands) (Unaudited) 2026 2025 2025
-------------------------------------- -------- -------- --------
Total net revenue $286,387 $310,260 $273,620
Valuation changes in servicing
rights, net of hedging gains and
losses(1) 12,863 6,014 4,823
------- ------- -------
Adjusted total revenue $299,250 $316,274 $278,443
======= ======= =======
(1) Represents the change in the fair value of servicing rights due to
changes in valuation inputs or assumptions, net of gains or losses
from derivatives hedging servicing rights.
Three Months Ended
----------------------------- ---------------------------------
Reconciliation of Net Loss to
Adjusted Net Loss ($ in Mar 31, Dec 31, Mar 31,
thousands) (Unaudited) 2026 2025 2025
----------------------------- --------- --------- -----------
Net loss attributable to
loanDepot, Inc. $(37,487) $(22,480) $(21,896)
Net loss from the pro forma
conversion of Class B or
Class C common stock to
Class A common stock (1) (17,455) (10,347) (18,800)
------- ------- -------
Net loss (54,942) (32,827) (40,696)
Adjustments to the benefit
for income taxes(2) 54 2,813 4,901
------- ------- -------
Tax-effected net loss (54,888) (30,014) (35,795)
Valuation changes in
servicing rights, net
of hedging gains and
losses(3) 12,863 6,014 4,823
Stock-based
compensation expense 6,393 5,163 5,716
Restructuring
charges(4) 708 624 2,121
Cybersecurity
incident(5) 121 215 788
(Gain) loss on disposal
of fixed assets (72) -- 17
Other impairment(6) -- -- 5
Tax effect of
adjustments(7) 1,251 (3,476) (3,010)
------- ------- -------
Adjusted net loss $(33,624) $(21,474) $(25,335)
======= ======= =======
(1) Reflects net loss to Class A common stock and Class D common stock
from the pro forma exchange of Class B common stock and Class C
common stock.
(2) loanDepot, Inc. is subject to federal, state and local income taxes.
Adjustments to the benefit for income taxes reflect the income tax
rates below, and the pro forma assumption that loanDepot, Inc. owns
100% of LD Holdings.
Three Months Ended
----------------------------------- ----------------------------------
Mar 31, Dec 31, Mar 31,
2026 2025 2025
----------------------------------- ---------- ---------- ----------
Statutory U.S. federal income tax
rate 21.00% 21.00% 21.00%
State and local income taxes (net
of federal benefit) 4.82 6.19 5.07
Effect of valuation allowance and
other tax adjustments (25.51)% --% --%
------ ------ ------
Effective income tax rate 0.31% 27.19% 26.07%
====== ====== ======
(3) Represents the change in the fair value of servicing rights due to
changes in valuation inputs or assumptions, net of gains or losses
from derivatives hedging servicing rights, and gains (losses) from
the sale of MSRs.
(4) Reflects employee severance expense and professional services
associated with restructuring efforts.
(5) Represents expenses directly related to the Cybersecurity Incident,
net of insurance recoveries during fiscal 2024, including costs to
investigate and remediate the Cybersecurity Incident, the costs of
customer notifications and identity protection, professional fees
including legal expenses, litigation settlement costs, and commission
guarantees.
(6) Represents lease impairment on corporate and retail locations.
(7) Amounts represent the income tax effect using the aforementioned
effective income tax rates, excluding certain discrete tax items.
Three Months Ended
----------------------------------- -------------------------------------
Reconciliation of Diluted Weighted
Average Shares Outstanding to
Adjusted Diluted Weighted Average Mar 31, Dec 31, Mar 31,
Shares Outstanding (Unaudited) 2026 2025 2025
----------------------------------- ----------- ----------- -----------
Share Data:
Diluted weighted average shares of
Class A common stock and Class D
common stock outstanding 228,962,329 223,756,158 200,792,570
Assumed pro forma conversion of
weighted average Class B and Class
C common stock to Class A common
stock (1) 106,207,433 109,713,995 127,290,603
----------- ----------- -----------
Adjusted diluted weighted average
shares outstanding 335,169,762 333,470,153 328,083,173
=========== =========== ===========
(1) Reflects the assumed pro forma exchange and conversion of Class B and
Class C common stock.
Three Months Ended
----------------------------- ---------------------------------
Reconciliation of Net Loss to
Adjusted EBITDA ($ in Mar 31, Dec 31, Mar 31,
thousands) (Unaudited) 2026 2025 2025
----------------------------- --------- --------- -----------
Net loss $(54,942) $(32,827) $(40,696)
Interest expense -
non-funding debt (1) 43,070 43,658 43,265
Income tax (benefit) expense (171) 1,022 (5,407)
Depreciation and amortization 6,335 5,447 7,666
Valuation changes in
servicing rights, net of
hedging gains and losses(2) 12,863 6,014 4,823
Stock-based compensation
expense 6,393 5,163 5,716
Restructuring charges(3) 708 624 2,121
Cybersecurity incident(4) 121 215 788
(Gain) loss on disposal of
fixed assets (72) -- 17
Other impairment (5) -- -- 5
------- ------- -------
Adjusted EBITDA $ 14,305 $ 29,316 $ 18,298
======= ======= =======
(1) Represents other interest expense, which includes gain or loss on
extinguishment of debt and amortization of debt issuance costs and
debt discount, in the Company's consolidated statements of
operations.
(2) Represents the change in the fair value of servicing rights due to
changes in valuation inputs or assumptions, net of gains or losses
from derivatives hedging servicing rights, and gains (losses) from
the sale of MSRs.
(3) Reflects employee severance expense and professional services
associated with restructuring efforts.
(4) Represents expenses directly related to the Cybersecurity Incident,
net of insurance recoveries during fiscal 2024, including costs to
investigate and remediate the Cybersecurity Incident, the costs of
customer notifications and identity protection, professional fees
including legal expenses, litigation settlement costs, and commission
guarantees.
(5) Represents lease impairment on corporate and retail locations.
Forward-Looking Statements
This press release and related management commentary contain, and responses to investor questions may contain, forward-looking statements that can be identified by the fact that they do not relate strictly to historical or current facts and may contain the words "believe," "aim," "anticipate," "expect," "goal," "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. Examples of forward-looking statements include, but are not limited to, statements about the benefits that our partnership with Figure Technology Solutions is expected to deliver to loanDepot and its customers; our digital transformation; market positioning; integration of Figure and loanDepot solutions, including platform integration across channels and expected benefits; the 5x5 HomeLoan product; competitive advantages; automation, technology and innovation initiatives and investments, including artificial intelligence; strategic opportunities, plans, focuses, and progress; our momentum; market share; digital customer experience; investment plans; return to profitability; expenses and expense management; loan origination volumes; pull-through weighted lock volume; and pull-through weighted gain on sale margin.
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 that are difficult to predict, including but not limited to, the following: our ability to achieve the expected benefits of our strategic plans and priorities and the success of other business initiatives, including our partnership with Figure Technology Solutions; our ability to achieve profitability; our loan production volume; our ability to maintain an operating platform and management system sufficient to conduct our business; our ability to maintain warehouse lines of credit and other sources of capital and liquidity; our ability to effectively utilize artificial intelligence and emerging technologies; impacts of cybersecurity incidents, cyberattacks, information or security breaches and technology disruptions or failures, of ours or of our third party vendors; the outcome of legal proceedings to which we are a party; our ability to favorably resolve regulatory matters related to the Cybersecurity Incident; adverse changes in macroeconomic and U.S residential real estate and mortgage market conditions, including changes in interest rates, changes in global trade policy and tariffs, geopolitical tensions and conflicts and impacts from government shutdowns; 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, 2025, as well as any subsequent filings with the Securities and Exchange Commission. Therefore, current plans, anticipated actions, and 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.
About loanDepot
Since its launch in 2010, loanDepot (NYSE: LDI) has revolutionized the mortgage industry with digital innovations that make transacting easier, faster, and less stressful for customers and originators alike. The company, which is licensed in all 50 states, helps its customers achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. loanDepot is also committed to serving the communities in which its team lives and works through a variety of local and national philanthropic efforts.
LDI-IR
View source version on businesswire.com: https://www.businesswire.com/news/home/20260505048129/en/
CONTACT: Investor Relations Contact:
Gerhard Erdelji
Senior Vice President, Investor Relations
(949) 822-4074
gerdelji@loandepot.com
Media Contact:
Rebecca Anderson
Senior Vice President, Communications & Public Relations
(949) 822-4024
rebeccaanderson@loandepot.com
(END) Dow Jones Newswires
May 05, 2026 16:06 ET (20:06 GMT)
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