The California-based mortgage lender loanDepot is focused on returning to profitability and regaining market share, having reported a second-quarter net loss of $25 million. This loss reflects a 38% improvement over the prior quarter's $41 million loss, attributed to increased revenue and reduced expenses. Leadership includes Fiddler, who aims to restore retail operations to a competitive level, and Pena, who leads the joint venture channel and is tasked with channel growth and partner service expansion. Recently, loanDepot announced partnerships to provide financing options for new-home buyers in select states.
The California-based mortgage lender aims to return to profitability and regain market share, reporting a net loss of $25 million in the second quarter.
Fiddler, who joined loanDepot in 2015, is focused on restoring retail operations to competitive levels, leveraging his understanding of both retail sales and operations.
Pena has headed loanDepot's joint venture channel since 2015, credited with guiding the channel through market cycles and focusing on growth and service expansion.
In February, loanDepot announced a partnership with Onx Homes for new-home buyer financing in Florida and Texas, and later partnered with Smith Douglas Homes.
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