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loanDepot Announces Third Quarter 2026 Financial Results

LDI
  • loanDepot reported third-quarter 2026 origination volume of $7.05 billion, a 12% decline year-over-year, while unit volume increased 7% from the second quarter of 2026.
  • Total revenue decreased 9% to $307 million, with adjusted revenue down 2% to $302 million, driven by lower origination income.
  • The pull-through weighted gain on sale margin rose 54 basis points to 399 basis points due to a strategic shift toward higher-margin home equity loans.
  • The company reported a net loss of $29 million, compared to a $7 million loss in the prior quarter, and an adjusted net loss of $31 million.
  • Adjusted EBITDA was $17 million, down from $20 million in the second quarter of 2026.
  • Productivity initiatives are expected to generate $25 million in annualized cost savings by the end of 2026, up from $12 million previously.
  • loanDepot repurchased $87 million of senior notes at an average price of 88% of par and sold $10 billion of Agency mortgage servicing rights.
  • The company entered an agreement to sell an additional $9 billion of Government mortgage servicing rights, which closed in October 2026.
  • Purchase volume accounted for 61% of total loans originated in the quarter, up from 57% in the second quarter.
  • Management projects fourth-quarter origination volume between $4.5 billion and $6.5 billion with a pull-through weighted gain on sale margin between 425 and 465 basis points.
  • CEO Anthony Hsieh highlighted a 33% increase in unit volume and a 16% reduction in cost to produce compared to the third quarter of 2025.
  • CFO David Hayes noted a $114 million reduction in net debt obligations following MSR sales and debt repurchases.