The firm previously offered to exchange $850 in principal amount for new notes and $250 in cash for each $1,000 in principal amount for old notes, but it’s now offering “a mixed consideration of $1,100 in cash and principal amount of new notes for each $1,000 principal amount of old notes,” according to an 8-K [...]read moreUnder stress, loanDepot ‘buys time’ with plan to extend $500M debt
In addition to $15 million in direct costs, loanDepot says it lost an additional $22 million in revenue while systems were down, contributing to $72 million net loss. At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities [...]read moreJanuary Cyberattack Weighs On loanDepot Q1 Results
After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. In the newly proposed rules handed down in October, the H4P program would, in certain circumstances, allow for inclusion of an interested party contribution of [...]read moreReverse mortgage professionals react to H4P rule changes
Join the movement at Inman Connect Las Vegas, July 30 – August 1! Seize the moment to take charge of the next era in real estate. Through immersive experiences, innovative formats, and an unparalleled lineup of speakers, this gathering becomes more than a conference — it becomes a collaborative force shaping the future of our [...]read moreLoanDepot Settles High-Profile Appraisal Bias Lawsuit
loanDepot has settled a lawsuit filed by a Maryland couple accusing the firm of appraisal bias, ending a case that gained national attention two years ago. Court documents filed on March 22 show that the lender and plaintiffs Nathan Connolly and Shani Mott — the latter a scholar of Black studies at Johns Hopkins University who died March 12 in Baltimore [...]read moreloanDepot settles appraisal bias lawsuit
Almost 17 million LoanDepot customers had sensitive personal information, including Social Security numbers, stolen in a January ransomware attack, the company has confirmed. The loan and mortgage giant company said in a data breach notice filed with Maine’s attorney general’s office that the stolen LoanDepot customer data includes names, dates of birth, email and postal [...]read moreLoanDepot says about 17 million customers had personal data and Social Security numbers stolen during cyberattack