loanDepot Plans $510M IPO

Nov 03, 2015

loanDepot, a Foothill Ranch, Calif.-based mortgage lender, has announced the terms for an initial public offering (IPO).

The company is seeking to raise $510 million by offering 30 million shares at a price range of $16 to $18; 12 percent of the shares will be offered on an insider basis. In a press statement, the company estimated that at “the midpoint of the proposed range, loanDepot would command a fully diluted market value of $2.5 billion.” The IPO is expected to price next week, and the company plans to list on the New York Stock Exchange under the symbol LDI.

According to its Web site, loanDepot employs more than 5,000 people and is licensed in all 50 states. It runs four online direct-lending business centers and more than 130 retail branches under the brands imortgage and Mortgage Master.

About the author

Phil Hall

Link copied

Published

Nov 03, 2015

Analysis and Data

Late Pays Rising for Student, Auto Loans

More of those with strong credit records have gone delinquent

Delinquencies are building across two major food groups — student loans and automobile financing — the feed credit scores and are sure to impact the ability of would-be home buyers to obtain a mortgage. The Education Department hasn’t updated its official student loan rep...

Analysis and Data

Buyers Faced Bigger Down Payments in 2024

Buyers paid an average of 14.4% of the purchase price, up from 14.2% in 2023

Down payments reached record highs in 2024, both in dollar amounts and as a share of purchase price, according to a new report from Realtor.com. The typical down payment in Q4 was $30,250, slightly below Q3 but about $3,000 higher than a year earlier. "As inventory recove...