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loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services. The services were created in hopes to provide a simplified way to conduct home purchases, financing, and sales, according to the companies.
The digital age—and the acceleration of digital adoption during the pandemic—have disrupted the way homebuyers think and act, and today many homebuyers engage with loanDepot before they've contacted a real estate agent, stated the company in a press release.
The loanDepot Grand Slam package, which builds on loanDepot's position as the Official Mortgage Provider of Major League Baseball and mellohome's standing as a provider of real estate services, combines digital-first simplicity with a suite of services and a set of incentives for customers. It is set to be available nationwide on October 1, 2021.
“The disruption in the market today is all about better serving the home buyer or owner with easy-to-navigate bundled real estate services that simplify a complex and stressful transaction,” said loanDepot founder and CEO Anthony Hsieh.
Through mellohome, loanDepot connects customers with a network of more than 4,000 real estate professionals in major markets across the country. Title services are available in 44 states through American Coast Title and Closing USA, both LDI companies, while home insurance services provided exclusively by loanDepot's agent partner are also available.
In addition to marrying the professional real estate services of mellohome with the home financing services of loanDepot, the loanDepot Grand Slam includes title and homeowner insurance services.
Customers who buy and sell with a mellohome preferred real estate agent, finance with loanDepot and choose the company's title and insurance services will be eligible for a package of additional benefits:
- Up to $7,000 cash back from mellohome at the close of the transaction, depending on home purchase/sale price
- A close-on-time guarantee of $1,000 cash back if the company fails to close the transaction within 25 days of the customer's preapproval
There are also a number of added incentives within the package.