Farm Bureau Mortgage, joint venture between loanDepot and Farm Bureau Bank, Now Serving Customers in 12 States
Oct 29, 2021
FOOTHILL RANCH, Calif., Oct. 29, 2021 /PRNewswire/ -- Farm Bureau Mortgage, the joint venture formed by loanDepot, the nation's second largest nonbank retail lender and Farm Bureau Bank®, a member-oriented Bank serving Farm Bureau members, is now offering full-service, residential mortgage solutions and personalized service in Alabama, Arizona, Arkansas, Florida, Georgia, Iowa, Mississippi, Nebraska, North Carolina, South Carolina, Tennessee and Texas.
Farm Bureau Mortgage is the latest in a series of joint ventures that expand loanDepot's reach in the purchase mortgage market and further strengthen the company's unique channel diversification strategy.
"Launching Farm Bureau Mortgage allows loanDepot to serve the financial needs of rural Americans with an established partner in Farm Bureau Bank who understands the lives and needs of those who are a part of the heart, soul and fabric of America," said loanDepot Executive Vice President of National Joint Ventures Dan Peña. "Home means everything to loanDepot and our customers, and through this new joint venture we're bringing the American dream of homeownership to even more individuals and families across the country."
Headquartered in Reno, Nev., Farm Bureau Bank is a federally chartered savings bank, offering a wide variety of products, including checking accounts, auto loans, credit cards and business services. Farm Bureau Bank, which opened its doors in 1999, is currently endorsed by 45 state Farm Bureau organizations that have over 5 million members.
"This joint venture allows us to marry loanDepot's technology, infrastructure and exceptional customer experience with Farm Bureau Bank's relationship with its existing customers and members of Farm Bureau to help navigate one of the most important life events – the purchase of their home," said Farm Bureau Mortgage President Dominick Deorio.
loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster and less stressful to purchase or refinance a home. Today, as the nation's second largest retail mortgage lender, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional and national philanthropic efforts.
About Farm Bureau Bank
Since 1999, Farm Bureau Bank has focused on providing products and services for Farm Bureau across the country while delivering an exceptional banking experience. Farm Bureau Bank shares your interests, understands your background, and works to support your livelihood. For more information about Farm Bureau Bank, please visit our website at www.farmbureau.bank.
VP, Public Relations
SOURCE loanDepot, Inc.