The Irvine-based retail lender loanDepot announced Monday it is expanding its footprint in the U.S. housing finance market with the launch of a new wholesale lending channel. This strategic push broadens the company’s multi-channel lending platform.
The new business unit allows independent mortgage professionals to originate loans funded by loanDepot, combining digital tools with direct operational support. The company said the channel is built on its proprietary mortgage technology platform and will offer professionals access to competitive pricing, a full range of loan products, and dedicated partner support.
Anthony Hsieh, company founder and CEO, said the move strengthens loanDepot’s overall lending ecosystem and complements its existing retail and direct-to-consumer operations.
“Serving professionals through wholesale naturally expands our multi-channel origination strategy,” Hsieh said in a statement announcing the initiative.
Dan Peña, president of partnership lending, leads the new channel. Mortgage industry veteran Matt Mancasola serves as vice president of wholesale lending. Peña brings over two decades of experience with loanDepot’s joint venture lending business, while Mancasola has more than 25 years of experience in the wholesale mortgage sector.
Strategic Return To A Key Lending Channel
This approach allows lenders to reach borrowers through a broader network of professionals rather than relying solely on in-house loan officers.
But this isn’t loanDepot’s first rodeo — the company previously shut down its wholesale division in 2022 as part of a broader restructuring effort during a downturn in the mortgage market. The new channel leverages loanDepot’s existing technology and infrastructure, including its digital mortgage platform designed to streamline loan processing and approvals.
A Major Player In A Changing Mortgage Market
Founded in 2010 by Hsieh, loanDepot has grown into one of the nation’s largest nonbank mortgage lenders, offering purchase loans, refinancing, and home equity products through a digital-first lending model.
The company is licensed in all 50 states and provides mortgage lending and real estate services through several channels, including direct-to-consumer, retail, joint venture, and loan servicing operations.
Like many mortgage lenders, loanDepot has faced volatility in recent years as rising interest rates cooled refinancing activity and reshaped the home lending market. The company’s renewed focus on wholesale lending signals a push to diversify its loan origination channels and capture a larger share of professional-driven mortgages.
For loanDepot, the move represents both a return to a once-abandoned business line and a bet that professional relationships can help drive the company’s next phase of growth in an increasingly competitive mortgage market.
