LoanDepot profits surge in Q3 as margins rebound


Anthony Hsieh
Anthony Hsieh, founder and CEO of loandepot

Nonbank heavyweight loanDepot reported strong results in the third quarter of 2021, with the lender growing its market share to 3.5%.

Anthony Hsieh, founder and CEO of loanDepot, said that the results are “just a preview of what is to come.”

According to loanDepot’s quarterly earnings report released on Monday, net income jumped to $154.3 million compared to $26.3 million in the second quarter.

The growth was fueled by the lender’s gain-on-sale margins rising to 2.84% from 2.28% the previous quarter. The lender also said in their earnings report that the quarter -over-quarter increase was driven by a rise in rate lock volume and a $20 million decrease in personnel expenses.

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    The post LoanDepot profits surge in Q3 as margins rebound appeared first on HousingWire.


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