There are tons of opportunities for cash-out refinances. Our Partner Channel originates loans through our network of approved mortgage brokers, as well as a series of exclusive joint ventures with some of the nation's largest homebuilders and depositories, who market our broad spectrum of products utilizing our innovate mello® technology platform to efficiently underwrite, process and fund mortgage loans, while delivering an exceptional customer experience. Record quarterly originations drove an increase in loans held for sale at December 31, 2020, which increased by 42% from the prior quarter to $7.0 billion. And now, let me turn it back over to Anthony for closing comments. There's lots of consumption through all types of purchases, as we all know, in today's market. It has allowed our brand to become one of the most recognized in the industry today. The proceeds from which will be used for general corporate purposes, including to pay a special dividend and reduce other debt positions. And number two, the fact that we have a recognizable brand becomes very attractive to those loan officers that may onboard to us, pull-through acquisitions, organic growth. Thanks. This is where customer acquisition cost is key and your scale and efficiency will get you through this type of market condition. And what we're sensing is, obviously, with margins coming in, sellers' expectations are a bit more realistic. And everyone is always stubborn about shedding capacity until they understand they must: that once capacity is shed, margins return. Keep in mind that we are only one month into Q2. This was driven by an 11% increase in quarterly originations across our retail and partner channels, reflecting the … Thanks. So we always look at that as an option. And this year, we're looking at $3 trillion. First Quarter Earnings Call Management will host a conference call and live webcast today at 11:00 a.m. Our rate lock volume of $45.8 billion for the first quarter resulted in total revenue of $1.3 billion, which was an increase of 1% from the fourth quarter of 2020. This is Jeff DerGurahian. "I'm incredibly proud of and humbled by our record-breaking 2020 performance and thank our team members for their passionate commitment to our customers during an unprecedented year," said Founder and CEO Anthony Hsieh. Shedding that capacity will take some time. Now originations started to take broth, and the entire industry hired up. And the simple answer is I don't know. loanDepot Lifetime Guarantee ("Guarantee") — Guarantee applies to future refinances of the same property by the same borrower subject to the conditions and contact requirements outlined below. Interest rates are still fantastic. Whether we draw in second mortgages, personal loans, cash-out refis, refinance their purchases becomes an opportunity for the organization as we evaluate the different types of financial return. Headquartered in Southern California, the Company has funded more than $300 billion since its founding and currently ranks as the second largest retail nonbank lender and one of the leading retail mortgage lenders in the United States. We are also extremely grateful for all of the hard work and relentless efforts of team loanDepot. See below for a reconciliation of these non-GAAP measures to their most comparable U.S. GAAP measures. LoanDepot ebitda from 1970 to 1969. Got it. Find the latest Earnings Report Date for loanDepot, Inc. Class A Common Stock (LDI) at Nasdaq.com. Connect with friends faster than ever with the new Facebook app. (2) Amounts represent the change in the fair value of servicing rights attributable to changes in assumptions, net of hedging gains and losses. It's hard for us to tell where that shakes out. Yeah. ET. When it comes to our point-of-sale origination platform, our proprietary pricing component, our proprietary eligibility engine, the program that you just mentioned allows us to program into our offering and have that available to over 2,000 of our employee loan officers without relying on outside third-parties to input new programs, and input new eligibility, and input new guidelines. The Retail strategy has 2,300+ employee loan officers serving customers online and in local markets nationwide. Great question. NMLS#174457 - NMLS Consumer Access Site |, ©2009-2021 loanDepot.com, LLC   all rights reserved. What type of size are we -- should we consider? We are also known for our track record of creating strategically beneficial joint ventures. Strategic Channel OverviewOur diverse origination strategy ensures we can serve customers in the way they want to be served, with the right mortgage professional, with the right product, at the right price, at the right time. That's not something that anyone of us has witnessed before. Our technology-enabled platform allows us to scale our operations for changes in volume in a highly efficient manner. We don't know what the pricing pressures is going to do to GOS. loanDepot, Inc. Fourth Quarter and Full Year 2020 Earnings Call After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Our total expenses for the quarter increased by $119 million from the prior quarter, primarily due to IPO-related expenses of $64 million, of which $59 million was stock-based compensation expense related to the IPO stock grants. I hope so. And can you maybe just talk about how gain-on-sale margins progress by channel over the quarter? loanDepot on Thursday reported lower quarterly net income for the fourth quarter – but significantly higher earnings for 2020 overall. We made the decision to be in this business back in 2012 when the world thought that we were nuts by going back into what you want to perhaps call brick and mortar, but it's not. These forward-looking statements are based on current available operating, financial, economic and other information, and are not guarantees of future performance and are subject to risks, uncertainties and assumptions, including the risks in the "Risk Factors" section of loanDepot, Inc.'s Registration Statement on Form S-1, dated February 9, 2021, which are difficult to predict. This quarter, we announced several key initiatives that exemplify our strong commitment to communities nationwide, including the Home Means Everything Major League Baseball campaign, whereby, loanDepot will donate $25 to the Boys & Girls Clubs of America for each RBI during the 2021 regular season. So the consumers benefit from that. Have a great rest of the day. Yes, Ryan. In another signal of the overall strength of our business and performance and our commitment to our shareholders, we recently announced a special dividend of $0.61 per share. This customer-centric approach and technology-driven mindset has been honed over the past 11 years. Thanks for taking my question. loanDepot Announces Fourth Quarter and Full Year 2020 Financial Results Industry disruptor, loanDepot, continues to redefine modern lending and reports record results - Record quarterly and annual loan originations of $37.4 billion and $100.8 billion, respectively - Record annual revenue of $4.3 billion and net income of $2.0 billion. I just had a follow-up question on that topic. So your question is what happens if the consumers take on rates? As we've stated previously, the recurring dividend, we're targeting currently $0.08 per share on a quarterly basis, starting after the second quarter. So there's no defined x percent over -- not necessarily a quarter, but like a year basis where you expect to return a certain percentage, 20% to 30%, to shareholders. Good morning. Got it. So you have a highly, highly fragmented market with lots of Tier 2 and Tier 3 nonbanks out there today. We entered into two new joint venture relationships with home builders during the second half of 2020 and added one new joint venture relationship in the first quarter of 2021 with a federally chartered savings bank offering banking and insurance services. This article is a transcript of this conference call produced for The Motley Fool. And we just came off the largest -- arguably, the largest mortgage volume market ever. You will have to qualify for the loan requested and will be quoted interest rates in effect at the time of your next loan. It allows us to get through the noise of the rest of the market in this very highly fragmented market with lots of lenders out there. John, if you're on the phone, if you want to chime in, please do so. Hey, good morning, guys. LoanDepot annual and quarterly earnings per share history from 1970 to 1969. FOOTHILL RANCH, Calif., Feb. 18, 2021 /PRNewswire/ -- loanDepot, Inc. and its subsidiaries (NYSE: LDI) (collectively, "loanDepot" or the "Company"), the innovative consumer lending and real estate services provider that is using its proprietary mello® technology to deliver best-in-class experiences to its customers, today announced results for the fourth quarter and year ended December 31, 2020. loanDepot's assets are unlike any other lender in the marketplace today: –    Diversified strategy: Integrated at-scale refinance and purchase business ensures that loanDepot thrives in any mortgage market. Within our partner channel, our joint ventures contributed fee income of $2.2 million in the first quarter of 2021, reflecting the wide variety of industry partners we work with. We have a highly, highly fragmented market. And we'll continue to have a healthy pipeline of other large institutions in the works. And what -- when you say outside of the mortgage market, are you talking about the personal loan market? It doesn't change. loanDepot Inc was incorporated in Delaware on July 10, 2015. The business had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.02 billion. So now the industry just has a ton of capacity to shed. The appraised value of your home for the future loan is not guaranteed. You can identify these statements by the use of words such as "outlook," "potential," "continue," "may," "seek," "approximately," "predict," "believe," "expect," "plan," "intend," "estimate" or "anticipate" and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as "will," "should," "would" and "could." That top of the funnel data analytics, and John Lee, our chief analytics officer, is on the phone, and maybe he wants to chime in after I'm finished with my comments, is a very sophisticated approach at how we look at the top of the funnel and through sophisticated algorithm and contact strategy. "Customers gravitate to the loanDepot brand because we think and do differently. But for us, like we said, we're well-positioned to continue to make money. –    Brand: loanDepot has the second-most recognized brand in the industry today and has continued to invest in its brand strength through the "Home Means Everything" national ad campaign and partnership with Major League Baseball as its exclusive mortgage partner. Net income attributable to loanDepot, Inc. On today's call, we have loanDepot's founder, chairman, and CEO, Anthony Hsieh; and our chief financial officer, Pat Flanagan, to provide an overview of our quarter, as well as our financial and operational results and to answer your questions. Was that what your question is? And programs such as this, along with 20 other or 25 other programs that's about to be announced in a changing market, all of those combined as an offering will have a material impact because it allows us to widen our funnel to offer more products and services to the consumer that we've worked very hard to get at the top of the funnel. They facilitate company-to-company operating performance comparisons by backing out potential differences caused by variations in hedging strategies, changes in valuations, capital structures (affecting net interest expense), taxation, the age and book depreciation of facilities (affecting relative depreciation expense) and the amortization of intangibles, which may vary for different companies for reasons unrelated to operating performance, as well as certain historical cost (benefit) items which may vary for different companies for reasons unrelated to operating performance. loanDepot’s revenue for the quarter was up […] ET on loanDepot's Investor Relations website, investors.loandepot.com, following the release of its earnings results. One for you, Pat. ET on loanDepot's Investor Relations website, investors.loandepot.com, following the release of its earnings results. Got it. Our No. Thanks for taking my question. Thank you. So understand, we purposely built this organization to be the most well-diversified originations model in contemporary times. Jefferies Financial Group also issued estimates for loanDepot’s Q3 2021 earnings at $0.80 EPS, Q4 2021 earnings at $0.85 EPS, FY2021 earnings at $3.27 EPS, Q1 2022 earnings at $0.76 EPS, Q2 2022 earnings at $0.72 EPS, Q3 2022 earnings at $0.75 EPS, Q4 2022 earnings at $0.79 EPS and FY2022 earnings at $3.02 EPS. We exclude from each of these non-GAAP measures the change in fair value of MSRs and related hedging gains and losses as this represents a non-cash non-realized adjustment to our total revenues, reflecting changes in assumptions including discount rates and prepayment speed assumptions, mostly due to changes in market interest rates, which is not indicative of our performance or results of operations. Non-GAAP Financial MeasuresTo provide investors with information in addition to our results as determined by GAAP, we disclose Adjusted Total Revenue, Adjusted EBITDA, and Adjusted Net Income as non-GAAP measures. Our brand is special, and we consider it to be one of our company's most valuable and differentiated assets. In fact, we entered into two new joint venture relationships with homebuilders and added one new joint venture relationship with a federally chartered savings bank, offering banking and insurance services, during the first quarter of 2021. For the year ended December 31, 2020, our Partner Channel contributed $20.5 billion, or 20%, of our loan originations. Thanks for the color. So the interesting theme, what type of pricing pressures that creates. As we focus on long-term growth trajectory and build on our momentum, we will continue to invest in brand, people, and technology. And the brand is experiencing a very attractive build over the last two years, specifically. And then, kind of going off of that, the margins in the retail channel held up a lot better this quarter than they did in partner. LoanDepot captured $49.6 billion in rate lock volume, a quarterly record. ET on loanDepot's Investor Relations website, investors.loandepot.com, following the release of its earnings … Competitive pricing strategy pressure from other market participants also had a marketwide impact on margins. Nicole Carrillo -- Chief Accounting Officer. In addition, we believe our position as the second most recognized mortgage brand grew even stronger this quarter through our ongoing national television ad campaign, which has delivered more than 12 billion household impressions since its launch in 2020. Before we begin, I would like to remind everyone that this conference call may include forward-looking statements regarding the company's operating and financial performance in future periods. We spoke to all of you a few days after our IPO as loanDepot completed a significant milestone in its 11-year journey and successfully entered the public market. And it's April, and traditionally, we see the seasonality, the upswing of the purchase market. And then, I will address the evolving market conditions we are seeing across the mortgage industry more broadly and how loanDepot is uniquely positioned to thrive. I think that we need to keep a close eye on the current administration and what happens to interest rate and inflation. No. 1 competitor. Prior to COVID in 2020, you've seen a company that started organically in 2010 has grown on the average 50-plus percent year over year and has become the top three retail originator in the country. So it's hard to say. The Company also is a founding sponsor of War Heroes on Water, which supports ongoing therapeutic healing services for combat-wounded veterans nationwide. It's likely you're going to get a lot of phone calls in this environment. How much of that do you attribute to all the investments you've made in brand? And just given the backup in rates and increasing competition, can you maybe just talk about what your expectations are for margins by channel? Microsoft and partners may be compensated if you purchase something through recommended links in this article. So we continue to tailor that servicing portfolio to really lend itself to future opportunities. But if they start the shopping before rates went up, they have a little bit of a sticker shock. So as the market transitions out of a rate-and-term refinance market into a more hybrid market with cash out and other opportunities, we'll be able to help build some of that demand by educating borrowers on the product availability and then, obviously, attracting those borrowers through high brand awareness and consideration. This was partially offset by a runoff of $118 million. Some of these limitations are: Because of these limitations, Adjusted Total Revenue, Adjusted EBITDA, and Adjusted Net Income are not intended as alternatives to total revenue, net income (loss), or net income attributable to the Company or as an indicator of our operating performance and should not be considered as measures of discretionary cash available to us to invest in the growth of our business or as measures of cash that will be available to us to meet our obligations. Good morning. Management will host a conference call and live webcast today at 11:00 a.m. You do have the distributed retail loan officers, which appears to be an advantage. Interest rates began to rise in late Q1, and there has been a corresponding reduction in market opportunities and gain on sale margins as a result. And when it does, you have to capitalize on it as we've seen with 2020 in the scale and profitability loanDepot was able to achieve. And as a branded organization and a trusted brand that consumers identify with, it becomes a bit easier and it becomes more opportunistic for us to add adjacent products as we move forward because we have an embedded customer acquisition cost. For the year ended December 31, 2020, our Retail Channel contributed $80.3 billion, or 80%, of loan originations. OK, got it. Of similar significance, our retail channel accounted for 81% of our loan originations, and our partner channel accounted for 19% of our total loan originations. But as capacity gets sweet and pushed out of the industry, margins will return. And so it's largely a question of pain tolerance for how long do they want to keep that going on. I mean, are there areas where you're pulling back? This represents a decline from 3.4%, or $2.6 billion, at the end of the third quarter of 2020. Yeah. So what we continue to look at and be very focused and disciplined at is we don't live for next quarter. loanDepot Lifetime Guarantee ("Guarantee") — Subject to the conditions and contact requirements outlined below, the Guarantee applies to the refinancing of an outstanding loan originated by loanDepot that is secured by the same property upon which that borrower previously received from loanDepot a loan and “loanDepot Lifetime Guarantee” certificate. 2021 management will host a conference call and live in the acquisitions acquisition overall strategy requested and will be interest. Expenses, means we can serve the customer through the contingent effect that bleeds over into the other of!, investors.loandepot.com, following the conclusion of the day, you 're on the current administration and what we planned! Allowed our brand promise to millions of MLB fans nationwide has witnessed before maximize and leverage market conditions home,! 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