IRVINE, Calif., April 30, 2014 /PRNewswire/ -- loanDepot LLC, the nation's seventh largest private, independent lender, today announced the launch of its wholesale lending division, LDWholesale.
Designed to offer mortgage brokers efficient, high-touch boutique-style service, LDWholesale delivers fast-funding loan products at competitive rates with the convenience of both an online and direct call experience.
"While market and regulatory conditions are pushing many lenders out of the wholesale market, we see a tremendous opportunity to serve brokers who are interested in a wholesale partner backed by the power of the loanDepot brand," said loanDepot President and COO, Dave Norris. "Our expansion into wholesale strengthens loanDepot's commitment to brokers across the country who are working hard to connect home buyers with financing that best fits their needs. Today's mortgage brokers will play an important role in the nation's overall recovery this year, especially considering the far reaching impact housing has on the health of the U.S. economy. loanDepot is dedicated to their success and we look forward to becoming a valued partner to mortgage brokers across the country."
Built on proprietary mortgage technology, the LDWholesale experience centers around a web portal and loan origination system offering mortgage brokers anytime access to the company's full suite of loan products in an easy-to-use and intuitive online experience. Through the online LDWholesale Broker Portal — at any time in their work day — brokers can quickly find the loans that best fit their client's needs, competitively price loans, lock during lock hours, submit loan documents through a secure data exchange, and track loan progress.
At launch, LDWholesale will offer a full suite of high quality competitively-priced loan products including Conventional Fixed / ARM, Conventional Hi-Balance Fixed / ARM, HARP DURP-Fixed / ARM, HARP LP Open Access-Fixed, FHA Fixed / ARM, FHA Streamlined, and VA Fixed / ARM loans.
Backed by the loanDepot brand and tenured management expertise, LDWholesale broker partners and their clients will benefit from the loanDepot Capital Markets team who provide expert secondary market execution and hedging strategies, and pass these efficiencies and savings back to customers via competitive pricing.
"There is no segment within the mortgage industry facing greater challenges today than mortgage brokers and bankers. We're committed to empowering our partners with the service levels and loan products they need and expect from a loanDepot brand business so they're successful in today's fast changing marketplace" said Jeff Walsh, president of LDWholesale. "We designed the LDWholesale Broker Portal using feedback from industry partners throughout the development process. As a result, we've created a streamlined and efficient experience for mortgage brokers that'll reduce production times and enhance the flow of information from application to closing."
Walsh, who was promoted to president of loanDepot's wholesale division in December 2013, shares early feedback from mortgage brokers about the opening of loanDepot's new LDWholesale division.
"I'm very excited to hear loanDepot is starting a wholesale division. It's a positive sign that a new wholesale lender is opening its doors when so many are leaving the market. I'm looking forward to doing business with LDWholesale," said Gil Correa, Independent Bankers Mortgage, NMLS # 64115
Stephen Smith, Broker / Owner at Highcrest Real Estate and Mortgage said, "In today's fast-paced business climate, it's extremely difficult to find a wholesale lender with great account executives, great rates, and great service — which I've experienced even at this initial opening stage with the LDWholesale division team. I'm very excited to be a part of the growth of LDWholesale."
ABOUT LDWHOLESALE LDWholesale is the third-party origination channel of loanDepot LLC, the nation's seventh largest private, independent lender. Serving mortgage brokers in all 50 states, LDWholesale delivers an integrated and seamless technology-based lending experience for business partners and customers that is transparent, fast and seamless. LDWholesale offers a competitively priced suite of Conventional Conforming, Conventional Hi-Balance, HARP, Jumbo, FHA and VA loan products. loanDepot LLC, NMLS # 174457 Learn more at LDWholesale.com.
ABOUT LOANDEPOT Launched in 2010, loanDepot LLC, is the nation's seventh largest private, independent mortgage lender in the country with Retail, Consumer Direct, Wholesale, Affinity and servicing operations. loanDepot LLC operates under the brand names of loanDepot.com, imortgage and LDWholesale, and maintains dual corporate headquarters in Foothill Ranch, CA and Plano, TX. loanDepot LLC is licensed in all 50 states, generates loan production from TPO/Brokers in four web centers, employs 2,500 people that includes 800 licensed mortgage bankers, and operates 60 imortgage branch locations throughout the nation. loanDepot is an approved seller and servicer for Fannie Mae, Freddie Mac and Ginnie Mae. loanDepot.com, LLC, NMLS # 174457 Learn more at loanDepot.com.