loanDepot has announced that it has continued its record growth by funding $100 billion in home, personal and home equity loans since its inception in 2010. loanDepot has grown originations on average by 70 percent annually since 2010, and has grown its market share by 400 percent since 2012.
The $100 billion milestone builds on a phenomenal year in 2016 in which loanDepot funded $38 billion in loans, a 33 percent increase compared to 2015, and nearly five times its funding volume in 2013. The company also grew its top line revenue in 2016 by approximately 41 percent compared to a year earlier, nearly 140 percent higher than 2014.
“In 2010, we launched loanDepot when many lenders were retreating from the market. What we’ve accomplished in seven years is really something special and extremely rewarding,” said loanDepot Chairman and CEO Anthony Hsieh. “loanDepot has grown into a powerful national brand that challenges the status quo of traditional banking every day. Our $100 billion in fundings has been fueled by millions in capital strategically reinvested back into the company to sharpen our technology, expand our products and attract the nation’s top talent. We’re very excited with the work we’re doing to help borrowers achieve their dreams, and we’re looking forward to the next chapter for loanDepot and our nation.”
Ranked by Inc. Magazine as one of the fastest-growing private companies in 2016 and 2015, loanDepot opened three new campuses in 2016 across the country to expand its Direct, Retail, and Wholesale Business Channels. Growing its nationwide employee base to nearly 6,000, loanDepot recently signed a lease to open a new 65,000-square foot business campus located in Irvine, Calif. The opening of this new campus will support loanDepot’s accelerated growth and expansion, and reflects the company’s commitment to developing market-leading technology, digital product delivery platforms and processes that will usher in the next generation of consumer lending. The company maintains a total borrower data base of more than 15 million consumers nationwide.
