In this episode, the pair review loan depositthe last earnings report following the recent decision of the lender Initial Public Offering and examine what to augment brokerage Compass could mean for the market in the future.
The duo also discuss the biggest and most important topics that the HousingWire editorial team has covered this month.
Here’s a quick recap of HousingWire’s coverage of LoanDepot’s IPO:
Online retail lender loan deposit only raised $ 54 million by offering 3.9 million shares at $ 14 on Thursday, well below the $ 19-21 range had initially sought. The reduced supply follows a theme that plagued nearly all of the non-bank mortgage originators that went public last year.
LoanDepot, the second-largest retail-focused IMB in the country, originally planned to raise around $ 362.5 million by selling 17 million shares at $ 21 during an IPO. Instead, with the $ 54 million raised, its proceeds were 82% lower than bookkeepers predicted earlier this week.
All of this is happening against a backdrop of record origination volumes and record profits for the California lender, which is the nation’s fifth-largest retail lender, according to Inside Mortgage Finance.
In sound S-1, LoanDepot said it issued $ 79.4 billion in loans for the 12 months ended September 30, 2020. And according to Inside Mortgage Finance, LoanDepot issued about $ 100.7 billion in mortgages throughout. 2020.
The company generated a net profit of $ 1.47 billion in the nine months leading up to September 30, repeatedly breaking any previous record.
HousingWire Daily reviews the most compelling articles reported by the HousingWire Newsroom. Each afternoon, we provide our listeners with a deeper insight into the stories broadcast in our newsroom that help drive the markets forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.