loanDepot founder and CEO Anthony Hsieh completes purchases of 3.2 million shares of company stock
FOOTHILL RANCH, Calif., Feb. 17, 2022 /PRNewswire/ -- loanDepot, Inc. (NYSE: LDI) today announced that Founder and Chief Executive Officer Anthony Hsieh has personally invested a total of $16.2 million to purchase 3.2 million shares of loanDepot class A common stock since November 2021. This total includes nearly $6.2 million to purchase more than 1.6 million shares of loanDepot class A common stock on the open market between February 3, 2022 and February 8, 2022 at an average price of $3.74 per share.
Hsieh's recent purchases of 3.2 million shares of loanDepot class A common stock on the open market exceed the number of shares that he sold during loanDepot's Initial Public Offering on February 11, 2021.
"As loanDepot's founder and largest shareholder, I believe that loanDepot's current valuation does not fully reflect our strong business potential or our vision for long-term growth, and that's why I continue to invest personal funds in company shares," said Anthony Hsieh. "loanDepot's assets and capabilities are some of the most sophisticated and diverse in the industry today, and our highly experienced management team continues to innovate and transform the industry. Our diversified loan origination channel strategy, top of funnel marketing and customer acquisition capability, nationally recognizable brand, proprietary mello® tech stack, growing in-house servicing platform and suite of ancillary services position us to successfully compete in a challenging market environment.
"We are relentlessly driven to delight our customers and employees and purposefully built with a diverse mix of channels, innovative technology solutions and a sophisticated performance marketing machine," continued Hsieh. "We believe our capital, liquidity, brand awareness and employee talent enable us to continue profitably grow market share and further cement our place at the forefront of this industry."
About loanDepot
loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster and less stressful to purchase or refinance a home. Today, as the nation's second largest retail mortgage lender, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional and national philanthropic efforts.
Investor Relations Contact:
Gerhard Erdelji
Senior Vice President, Investor Relations
(949) 822-4074
[email protected]
Media Contact:
Rebecca Anderson
Senior Vice President, Communications & Public Relations
(949) 822-4024
[email protected]
LDI-IR
SOURCE loanDepot, Inc.
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