loanDepot Adds $150M in Capital

IRVINE, CA—loanDepot says it closed $150 million in term debt financing earlier this month. The company intends to use the proceeds to further its core business activities with continued investments in technology and product development, and to leverage its balance sheet to hold certain loan assets.

Irvine, California

“Capital investment in consumer lending and in the mortgage industry is very tight and highly selective,” says Anthony Hsieh, chairman and chief executive officer at loanDepot. “Investors are interested in category leaders with scale who succeed in all credit cycles. This deal confirms the strength of our business model and the positive momentum of our brand. It also signals the competitive advantage loanDepot has in accessing capital in today’s market as we pursue our long-term growth strategy.”