loanDepot Continues Bold Growth With Expansion Of Office Space And Plans To Hire 1,000 Additional Employees
America's Consumer Lender Doubles Square Footage of Orange County Office Space, Now Occupying 885,162 Total Square Feet Nationwide
May 11, 2015
IRVINE, Calif., May 11, 2015 /PRNewswire/ -- loanDepot LLC, America's consumer lender, today announced it has nearly doubled the size of its largest online direct-lending production center, located in Orange County, Calif., from 131,267 to 238,732 square feet. As a result, loanDepot now occupies more than 885,162 square feet of space nationwide, including direct-lending production centers in Plano, Texas, Brentwood, Tenn., and Scottsdale, Ariz. The company also plans to hire an additional 1,000 employees who will deliver exceptional high touch, high tech service to borrowers.
"The continued expansion of our business and operations reflects the strength of the loanDepot brand and growing consumer demand for our products and services," loanDepot LLC Chairman and CEO Anthony Hsieh said. "As the economy continues to improve, so does consumer confidence and consumer demand for credit. loanDepot is committed to growing our product lines and expanding our services to meet the diverse financial needs our borrowers will have throughout their lives. We look forward to the continued growth that will empower us to answer increased interest and demand for our products."
These progressive moves come at a critical point in loanDepot's growth strategy, which includes the development of multiple product lines and existing business-channel growth. The company will soon move into marketplace lending with the upcoming launch of its first nonmortgage product: unsecured personal loans. In addition, the company is on track to begin offering home improvement loan programs in the second quarter of 2015.
Since its launch in 2010, loanDepot has quickly positioned itself as a national consumer lender with consumer lending products developed to meet the financial needs of borrowers across the country. loanDepot has experienced impressive year-over-year market-share growth since 2012, and is on track to increase its annual market share by another 70 percent from 2014 to 2015 based on projected loan funding volume. As a result, loanDepot has created thousands of jobs across the nation in its first five years, and is one of Orange County's largest employers.
loanDepot's mission is to be America's consumer lender of choice. As the nation's second largest nonbank consumer home loan lender, loanDepot funds more than $2.5 billion in consumer retail home loans every month in all 50 states. The company is committed to serving the needs of responsible borrowers across the country through technology, predictive data science, exceptional service, and cost-efficient consumer-acquisition delivery systems.
ABOUT LOANDEPOT LLC
loanDepot LLC is an emerging-growth nonbank consumer lender and market leader offering mortgage and nonmortgage lending products in all 50 states. Founded in 2010 by industry pioneer and innovator Anthony Hsieh, loanDepot LLC operates under the brand names loanDepot.com, imortgage, Mortgage Master, and LDWholesale. The company maintains dual headquarters in Foothill Ranch, CA and Plano, TX, operates 130+ local branches offering lending products to consumers nationwide, and generates loan production from four technology-enabled business centers. More than 4000 people are employed by loanDepot, including 1300+ licensed loan officers. As America's consumer lender, loanDepot is disrupting consumer finance and redefining the market with less division between mortgage and nonmortgage credit amid changes in consumer behavior and technology, access to credit, economic cycles and market consolidation. loanDepot LLC is an approved seller and servicer for Fannie Mae, Freddie Mac and Ginnie Mae. loanDepot, LLC, NMLS # 174457 Learn more at loanDepot.com.
SOURCE loanDepot LLC