loanDepot Completes National Licensing Footprint, Is Now Licnesed In All 50 States

FOOTHILL RANCH, Calif., Aug. 29, 2012 /PRNewswire/ -- loanDepot.com LLC, one of the nation's largest independent, online mortgage lenders, today announced that after just 31 months in business it is now licensed to originate mortgages in all 50 states, making loanDepot one of only a few independent mortgage originators in the country that can originate mortgage loans in every state.  In addition to these corporate licenses, loanDepot's Mortgage Loan Originators (MLO's) hold over 1,500 individual state licenses through the Nationwide Mortgage Licensing System & Registry.

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"This incredible milestone was achieved through the dedication and hard work of our entire team of mortgage professionals, in one of the toughest regulatory environments ever," said Anthony Hsieh, CEO of loanDepot.com.  "Our highly scalable, process focused company was built to efficiently close loans in all 50 states from a centralized location.  Now that we have achieved that goal, we'll continuing leveraging our platform for future growth."

This milestone comes at the same time loanDepot securitized its first pools of mortgage loans guaranteed by Freddie Mac and Ginnie Mae.  As part of this securitization, loanDepot retained the servicing rights of the loans.  In addition to continuing issuing securities guaranteed by Freddie Mac and Ginnie Mae, the Company also plans to issue securities guaranteed by Fannie Mae during the 3^rd quarter of 2012 and plans to retain servicing on those loans as well.

"National coverage, full GSE approval and the ability to service loans is a tremendous advantage in today's marketplace where flexibility is necessary for success," stated Hsieh. "This strategy gives loanDepot the ability to leverage its world-class platform in many different ways, including working directly with consumers all over the country and working with lenders or banks that need help servicing their existing customer base."

To learn more about loanDepot or inquire about possible business opportunities, please contact Victoria Clement at [email protected].

About loanDepot.com

loanDepot, based in Foothill Ranch, CA, is one of the largest independent mortgage lenders in the United States.  The company founder, industry veteran Anthony Hsieh, with a world-class executive team, is well known for pioneering the Internet mortgage industry, building two highly successful companies and merging them into publicly-traded companies, E*TRADE Mortgage and LendingTree Loans, both of which are still in operation today.  loanDepot is committed to delivering a better, faster, more efficient process for consumers while continuing to provide industry-leading rates and the best service in the industry.  loanDepot currently has origination centers in Arizona, Tennessee and two in California and is currently licensed in 50 states with over 1,500 individual loan officer licenses. For more information on loanDepot, visit www.loandepot.com.

SOURCE LoanDepot.com, LLC