loanDepot to Pay off Two Homeowners' Mortgages as Part of Massive $680K 10-Year Anniversary nextX Sweepstakes
nextX Sweepstakes pays off one customer and one employee's mortgage along with $180k in cash prizes; marks momentous occasion as Company celebrates rapid rise from start-up to nation's second largest nonbank lender
Jan 9, 2020
FOOTHILL RANCH, Calif., Jan. 9, 2020 /PRNewswire/ -- As loanDepot begins its second decade, CEO and Founder Anthony Hsieh announced the Company will celebrate with a special thank you—paying off one lucky customer AND one employee's mortgage. The giveaway, known as the nextX Mortgage Sweepstakes, will run through November and will feature $680,000 in total prizes.
"This sweepstakes is our special way of extending our deepest thanks to our customers and to our employees," said Hsieh. "When we opened our doors, it was our goal to help as many Americans achieve the dream of homeownership and to find financial success. Today, we are delighted and humbled by the impact our efforts have achieved thus far, and look forward to exponentially expanding that volume in our next decade."
The nextX Mortgage Sweepstakes is part of the Company's year-long #nextX celebration which commemorates the momentous milestones the Company has achieved in its first decade in business. The Company made a courageous and bold decision to launch post financial crisis, at a time when many mortgage companies had either closed their doors or had significantly scaled back. Today, thanks to the vision of Founder and CEO Anthony Hsieh, loanDepot has propelled to becoming the nation's second largest nonbank lender while at the same time revolutionizing the industry.
"We founded loanDepot in 2010 with one goal: to delight the customer," added Hsieh. "Everything we do—and have done—in every area of the business has been strategically focused on that sole accomplishment. And that is, in a large part, how we've achieved such trajectory in such a short time."
Initially based in Southern California with a few dozen employees, loanDepot now boasts a nationwide footprint, with multiple operations centers and hundreds of branch locations. Its plus-6,500 employees serve hundreds of thousands of customers annually, all led by Hsieh, who was named Fintech Executive of the Year at the 2018 Lendit Fintech.
Under Hsieh's direction, the Company has made a $100M investment in its proprietary mello™ technology that creates a more seamless loan experience for customers and loan officers alike. Additionally, the Company was the first nonbank lender to expand beyond mortgage loan products. And, in its quest to vastly improve the industry's antiquated loan processes, it introduced its mello smartloan™, the industry's first-ever fully end-to-end digital mortgage that uses artificial intelligence to complete itself.
Hsieh, who values the importance of giving back, also founded War Heroes on Water, a sportfishing tournament designed to show appreciation to combat-wounded veterans and to raise awareness of the challenges that veterans face after their tours are complete. His goal for the Sweepstakes is similar—to change people's lives.
"Being able to help someone pay off their home—or purchase a new one—is a life-changing moment, and we are looking forward to celebrating with them on the big day," he added.
The consumer sweepstakes will feature nine monthly $10,000 prizes and one $250,000 grand prize to pay off or purchase a new home. The company is also celebrating the efforts of its employees by offering a similar giveaway.
An innovator since its inception in 2010, loanDepot continues to disrupt the lending industry with its focus on creating the technologies needed to deliver seamless borrowing experiences to its customers. loanDepot debuted the industry's first end-to-end fully digital loan, the mello smartloan™, in 2019. The Company has funded over $202 billion since its founding, and currently ranks as the second largest nonbank lender and one of the leading retail mortgage lenders in the U.S. NMLS #174457
Public Relations Director