Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________

FORM 8-K

_____________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (or date of earliest event reported): November 7, 2023

_____________________

loanDepot, Inc.

(Exact Name of Registrant as Specified in its Charter)

_____________________

Delaware

001-40003

85-3948939

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification Number)

6561 Irvine Center Drive

Irvine, California 92618

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (888) 337-6888

_____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐						Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐						Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐						Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐						Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Class A Common Stock, $0.001 Par Value

LDI

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition.

On November 7, 2023, loanDepot, Inc. (the "Company") issued a press release announcing its results for the three and nine months ended ended September 30, 2023 (the “Earnings Press Release”). The full press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 7.01 Regulation FD Disclosure.

On November 7, 2023, the Company posted on its website at www.loandepot.com a presentation (the “loanDepot Presentation”) on certain financial and operating initiatives available for viewing during the Company’s conference call and webcast announcing its financial results for the three and nine months ended ended September 30, 2023 at 5:00 p.m. Eastern time on November 7, 2023.

A copy of the loanDepot Presentation is furnished pursuant to this Item 7.01 as Exhibit 99.2 to this Current Report on Form 8-K and incorporated by reference herein in its entirety. The loanDepot Presentation includes references to non-GAAP financial information. Reconciliations between the non-GAAP financial measures and the comparable GAAP financial measures are available in the loanDepot Presentation. The loanDepot Presentation should be read in conjunction with the Earnings Press Release. The Company reserves the right to discontinue availability of the loanDepot Presentation from its website at any time.

The information furnished pursuant to Items 2.02 and 7.01, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, or the Exchange Act, as amended, except as specifically identified therein as being incorporated by reference.

Additionally, the submission of the information set forth in this Item 7.01 is not deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely by Regulation FD.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit Number			Description
99.1			loanDepot, Inc. press release dated November 7, 2023
99.2			loanDepot, Inc. Q3 2023 Investor Presentation
104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



loanDepot, Inc.


By:			/s/ David Hayes
Name: David Hayes
Title: Chief Financial Officer

Date: November 7, 2023

loanDepot announces third quarter 2023 financial results

Continues focused execution of Vision 2025

Narrows net loss for third consecutive quarter and maintains strong liquidity position

Expands productivity program, expected to yield additional $120 million in run-rate benefits

•Revenue decreased $6 million or 2% to $266 million from second quarter 2023, primarily driven by lower pull through weighted lock volume partially offset by higher pull through weighted gain on sale margin.

•Total expenses decreased $25 million or 8% to $305 million from second quarter 2023, driven by cost reductions across almost all expense categories.

•Expands Vision 2025 productivity program targeting $120 million of annualized cost reductions, including $100 million of non-volume related expenses.

•Quarterly net loss narrowed by $15 million or 31% to $34 million from the second quarter of 2023.

•Adjusted net loss declined by $7 million or 22% to $27 million from the second quarter of 2023.

•Company continues to maintain strong liquidity profile; cash balance of $717 million compared to $719 million at end of second quarter 2023.

IRVINE, Calif., November 7, 2023 - loanDepot, Inc. (NYSE: LDI), (together with its subsidiaries, “loanDepot” or the “Company”), a leading provider of home lending solutions that enable customers to achieve the dream of home ownership, today announced results for the third quarter ended September 30, 2023.

“loanDepot continues to make significant progress against the strategic imperatives laid out in our Vision 2025 plan,” said President and Chief Executive Officer Frank Martell. “We delivered our third successive quarter of significantly lower operating losses driven by margin expansion and the continued benefits of cost reduction, productivity, and operating leverage. Importantly, we also benefited from contributions from our servicing platform, builder partnerships, and home equity lending.

“We continue to aggressively reset our cost structure to address the impact of generationally low unit volumes as we maintain our focused execution of Vision 2025, including capturing opportunities to expand purpose-driven lending in support of the increasingly diverse communities of first-time homebuyers. We believe our proven diversified channel strategy, highly talented team, operating scale, and ongoing cost productivity program will position us well to capitalize on the eventual recovery of the housing market,” Martell added.

“Our focus on cost reduction, margin expansion and effective capital management have been the key drivers underpinning our ability to maintain a strong liquidity position in the face of the ongoing market contraction. Importantly, we ended the third quarter with cash balances essentially unchanged from the prior quarter end,” said Chief Financial Officer David Hayes. “We remain laser focused on maintaining significant levels of liquidity as we work toward run-rate profitability.”

Third Quarter Highlights:

Financial Summary


	Three Months Ended									Nine Months Ended
($ in thousands except per share data) (Unaudited)	Sep 30, 2023			Jun 30, 2023			Sep 30, 2022			Sep 30, 2023			Sep 30, 2022

Rate lock volume	$	8,295,935		$	8,973,666		$	12,032,026		$	25,738,036		$	61,620,241
Pull through weighted lock volume(1)	5,685,209			6,057,179			8,755,082			17,067,876			40,968,021
Loan origination volume	6,083,143			6,273,543			9,849,927			17,301,023			47,395,713
Gain on sale margin(2)	2.74		%	2.75		%	1.80		%	2.66		%	1.66		%
Pull through weighted gain on sale margin(3)	2.93		%	2.85		%	2.03		%	2.69		%	1.92		%

Financial Results
Total revenue	$	265,661		$	271,833		$	274,192		$	745,395		$	1,086,141
Total expense	305,128			330,148			435,125			949,760			1,602,038
Net loss	(34,262)			(49,759)			(137,482)			(175,743)			(452,623)

Diluted loss per share	$	(0.09)		$	(0.13)		$	(0.37)		$	(0.48)		$(1.29)

Non-GAAP Financial Measures(4)

Adjusted total revenue	$	266,363		$	275,709		$	249,663		$	768,263		$	1,027,540
Adjusted net loss	(26,859)			(34,329)			(116,846)			(121,457)			(367,101)
Adjusted EBITDA (LBITDA)	18,493			6,499			(114,133)			(4,345)			(380,049)

(1)Pull through weighted rate lock volume is the principal balance of loans subject to interest rate lock commitments, net of a pull-through factor for the loan funding probability.

(2)Gain on sale margin represents the total of (i) gain on origination and sale of loans, net, and (ii) origination income, net, divided by loan origination volume during period.

(3)Pull through weighted gain on sale margin represents the total of (i) gain on origination and sale of loans, net, and (ii) origination income, net, divided by the pull through weighted rate lock volume.

(4)See “Non-GAAP Financial Measures” for a discussion of Non-GAAP Financial Measures and a reconciliation of these metrics to their closest GAAP measure.

Operational Highlights

•Quarterly non-volume related expenses decreased $18.7 million since the second quarter of 2023, primarily due to lower salaries and benefits resulting from lower headcount and lower legal expenses.

•Incurred expenses related to Vision 2025 plan of $2.5 million during the quarter, including $1.2 million of Vision 2025-related professional services fees, $0.8 million of personnel related expenses and $0.5 million of lease and other asset impairment charges. Vision 2025-related expenses totaled $6.8 million in the second quarter of 2023.

•Accrued $2.0 million of legal expenses related to the expected settlement of outstanding litigation.

•Pull through weighted lock volume of $5.7 billion for the third quarter 2023, a decrease of $0.4 billion or 6% from the second quarter of 2023, resulting in quarterly total revenue of $265.7 million, a decrease of $6.2 million, or 2%, over the same period.

•Loan origination volume for the third quarter of 2023 was $6.1 billion, a decrease of $0.2 billion or 3% from the second quarter of 2023.

•Purchase volume decreased to 71% of total loans originated during the third quarter, down from 73% of total loans originated during the second quarter of 2023 and up from 70% of total loans originated during the third quarter of 2022.

•For the three months ended September 30, 2023, our preliminary organic refinance consumer direct recapture rate1 increased to 71% from the second quarter’s refinance rate of 68%. This highlights the effectiveness of our marketing efforts, the strength of our customer relationships, and the value of our servicing portfolio for adjacent and complementary revenue opportunities.

•Net loss for the third quarter of 2023 of $34.3 million as compared to net loss of $49.8 million in the second quarter of 2023. Net loss decreased quarter over quarter primarily due to a decrease in expenses exceeding the decrease in revenue.

•Adjusted EBITDA for the third quarter of 2023 was $18.5 million as compared to adjusted EBITDA of $6.5 million for the second quarter of 2023.

Outlook for the fourth quarter of 2023

•Origination volume of between $4 billion and $6 billion.

•Pull-through weighted rate lock volume of between $3.8 billion and $5.8 billion.

•Pull-through weighted gain on sale margin of between 240 basis points and 280 basis points.

Servicing


	Three Months Ended						Nine Months Ended
Servicing Revenue Data: ($ in thousands) (Unaudited)	Sep 30, 2023		Jun 30, 2023		Sep 30, 2022		Sep 30, 2023		Sep 30, 2022

Due to changes in valuation inputs or assumptions	$	68,651	$	26,138	$	75,366	$	73,422	$	373,158
Due to collection/realization of cash flows	(38,502)		(41,619)		(49,519)		(114,777)		(193,022)
Realized gains (losses) on sales of servicing rights, net (1)	3,516		7,021		(13,489)		10,677		(5,949)
Net loss from derivatives hedging servicing rights	(69,353)		(30,014)		(50,837)		(96,290)		(314,557)
Changes in fair value of servicing rights, net	$	(35,688)	$	(38,474)	$	(38,479)	$	(126,968)	$	(140,370)

Servicing fee income	$	118,783	$	117,737	$	113,544	$	355,482	$	341,929

(1)Includes the provision for sold MSRs.

1 We define organic refinance consumer direct recapture rate as the total unpaid principal balance (“UPB”) of loans in our servicing portfolio that are paid in full for purposes of refinancing the loan on the same property, with the Company acting as lender on both the existing and new loan, divided by the UPB of all loans in our servicing portfolio that paid in full for the purpose of refinancing the loan on the same property. The recapture rate is finalized following the publication date of this release when external data becomes available.


	Three Months Ended						Nine Months Ended
Servicing Rights, at Fair Value: ($ in thousands) (Unaudited)	Sep 30, 2023		Jun 30, 2023		Sep 30, 2022		Sep 30, 2023		Sep 30, 2022
Balance at beginning of period	$	1,998,762	$	2,016,568	$	2,204,593	$	2,025,136	$	1,999,402
Additions	80,068		75,866		124,244		215,229		574,459
Sales proceeds	(73,972)		(85,164)		(331,922)		(171,167)		(751,276)
Changes in fair value:
Due to changes in valuation inputs or assumptions	68,651		26,138		75,366		73,422		373,158
Due to collection/realization of cash flows	(38,502)		(41,619)		(49,519)		(114,777)		(193,022)
Realized gains (losses) on sales of servicing rights	3,647		6,973		(9,493)		10,811		10,548
Balance at end of period (1)	$	2,038,654	$	1,998,762	$	2,013,269	$	2,038,654	$	2,013,269

(1)Balances are net of $14.7 million, $13.3 million, and $16.8 million of servicing rights liability as of September 30, 2023, June 30, 2023, and September 30, 2022, respectively.



										% Change
Servicing Portfolio Data: ($ in thousands) (Unaudited)	Sep 30, 2023			Jun 30, 2023			Sep 30, 2022			Sep-23 vs Jun-23		Sep-23 vs Sep-22







Servicing portfolio (unpaid principal balance)	$	143,959,705		$	142,479,870		$	139,709,633		1.0	%	3.0	%

Total servicing portfolio (units)	490,191			482,266			463,471			1.6		5.8

60+ days delinquent ($)	$	1,235,443		$	1,192,377		$	1,365,774		3.6		(9.5)
60+ days delinquent (%)	0.9		%	0.8		%	1.0		%



Servicing rights, net to UPB	1.42		%	1.40		%	1.44		%

Balance Sheet Highlights


							% Change
($ in thousands) (Unaudited)	Sep 30, 2023		Jun 30, 2023		Sep 30, 2022		Sep-23 vs Jun-23		Sep-23 vs Sep-22


Cash and cash equivalents	$	717,196	$	719,073	$	1,143,948	(0.3)	%	(37.3)	%
Loans held for sale, at fair value	2,070,748		2,256,551		2,692,820		(8.2)		(23.1)
Servicing rights, at fair value	2,053,359		2,012,049		2,030,026		2.1		1.1
Total assets	6,078,529		6,203,505		7,378,536		(2.0)		(17.6)
Warehouse and other lines of credit	1,897,859		2,046,208		2,529,436		(7.2)		(25.0)
Total liabilities	5,309,594		5,406,160		6,300,039		(1.8)		(15.7)
Total equity	768,935		797,344		1,078,497		(3.6)		(28.7)

A decrease in loans held for sale at September 30, 2023, resulted in a corresponding decrease in the balance on our warehouse lines of credit. Total funding capacity with our lending partners was $3.9 billion at September 30, 2023 and $3.9 billion at June 30, 2023. Available borrowing capacity was $1.8 billion at September 30, 2023.

Consolidated Statements of Operations


($ in thousands except per share data) (Unaudited)	Three Months Ended						Nine Months Ended
	Sep 30, 2023		Jun 30, 2023		Sep 30, 2022		Sep 30, 2023		Sep 30, 2022

REVENUES:
Interest income	$	37,253	$	33,060	$	51,202	$	98,271	$	166,888
Interest expense	(34,642)		(30,209)		(41,408)		(91,612)		(121,220)
Net interest income	2,611		2,851		9,794		6,659		45,668

Gain on origination and sale of loans, net	148,849		154,335		156,300		411,336		665,993
Origination income, net	17,740		18,332		21,268		48,088		119,449
Servicing fee income	118,783		117,737		113,544		355,482		341,929
Change in fair value of servicing rights, net	(35,688)		(38,474)		(38,479)		(126,968)		(140,370)
Other income	13,366		17,052		11,765		50,798		53,472
Total net revenues	265,661		271,833		274,192		745,395		1,086,141

EXPENSES:
Personnel expense	141,432		157,799		218,819		440,258		861,382
Marketing and advertising expense	33,894		34,712		42,940		104,520		205,289
Direct origination expense	15,749		17,224		19,463		50,352		106,616
General and administrative expense	46,522		54,817		83,412		157,473		197,089
Occupancy expense	5,903		6,099		9,889		18,083		28,673
Depreciation and amortization	10,592		10,721		10,243		31,339		32,110
Servicing expense	8,532		5,750		14,221		19,116		46,472
Other interest expense	42,504		43,026		36,138		128,619		83,671
Goodwill impairment	—		—		—		—		40,736
Total expenses	305,128		330,148		435,125		949,760		1,602,038

Loss before income taxes	(39,467)		(58,315)		(160,933)		(204,365)		(515,897)

Income tax benefit	(5,205)		(8,556)		(23,451)		(28,622)		(63,274)

Net loss	(34,262)		(49,759)		(137,482)		(175,743)		(452,623)

Net loss attributable to noncontrolling interests	(17,663)		(26,316)		(77,401)		(92,793)		(256,873)

Net loss attributable to loanDepot, Inc.	$	(16,599)	$	(23,443)	$	(60,081)	$	(82,950)	$	(195,750)

Basic loss per share	$	(0.09)	$	(0.13)	$	(0.37)	$	(0.48)	$	(1.29)
Diluted loss per share	$	(0.09)	$	(0.13)	$	(0.37)	$	(0.48)	$	(1.29)

Consolidated Balance Sheets


($ in thousands)	Sep 30, 2023		Jun 30, 2023		Dec 31, 2022
	(Unaudited)
ASSETS
Cash and cash equivalents	$	717,196	$	719,073	$	863,956
Restricted cash	114,765		61,295		116,545
Accounts receivable, net	53,845		68,581		145,279
Loans held for sale, at fair value	2,070,748		2,256,551		2,373,427
Derivative assets, at fair value	86,622		80,382		39,411
Servicing rights, at fair value	2,053,359		2,012,049		2,037,447
Trading securities, at fair value	89,334		93,442		94,243
Property and equipment, net	76,762		82,677		92,889
Operating lease right-of-use asset	32,558		34,040		35,668
Prepaid expenses and other assets	124,756		129,675		155,982
Loans eligible for repurchase	639,806		647,418		634,677
Investments in joint ventures	18,778		18,322		20,410



Total assets	$	6,078,529	$	6,203,505	$	6,609,934

LIABILITIES AND EQUITY
LIABILITIES:
Warehouse and other lines of credit	$	1,897,859	$	2,046,208	$	2,146,602
Accounts payable and accrued expenses	462,521		407,356		488,696
Derivative liabilities, at fair value	49,742		8,790		67,492
Liability for loans eligible for repurchase	639,806		647,418		634,677
Operating lease liability	53,579		56,552		61,675
Debt obligations, net	2,206,087		2,239,836		2,289,319
Total liabilities	5,309,594		5,406,160		5,688,461
EQUITY:








Total equity	768,935		797,344		921,473
Total liabilities and equity	$	6,078,529	$	6,203,504	$	6,609,934

Loan Origination and Sales Data


($ in thousands) (Unaudited)	Three Months Ended			Nine Months Ended
	Sep 30, 2023	Jun 30, 2023	Sep 30, 2022	Sep 30, 2023	Sep 30, 2022

Loan origination volume by type:
Conventional conforming	$3,158,107	$3,323,678	$6,002,765	$9,375,605	$32,107,768
FHA/VA/USDA	2,354,630	2,337,946	3,038,467	6,371,168	10,665,287
Jumbo	126,408	148,077	571,509	405,551	3,955,056
Other	443,998	463,842	237,186	1,148,699	667,602
Total	$6,083,143	$6,273,543	$9,849,927	$17,301,023	$47,395,713

















Loan origination volume by purpose:
Purchase	$4,337,476	$4,552,919	$6,938,408	$12,403,166	$24,469,338
Refinance - cash out	1,660,578	1,614,747	2,682,330	4,599,564	18,181,170
Refinance - rate/term	85,089	105,877	229,189	298,293	4,745,205
Total	$6,083,143	$6,273,543	$9,849,927	$17,301,023	$47,395,713




Loans sold:
Servicing retained	$4,175,126	$3,943,845	$6,604,979	$11,396,678	$34,296,344
Servicing released	2,092,762	2,134,024	5,132,350	6,345,660	18,220,561
Total	$6,267,888	$6,077,869	$11,737,329	$17,742,338	$52,516,905

Third Quarter Earnings Call

Management will host a conference call and live webcast today at 5:00 p.m. ET on loanDepot’s Investor Relations website, investors.loandepot.com, to discuss its earnings results.

The conference call can also be accessed by dialing (888) 440-6385. Please call five minutes in advance to ensure that you are connected prior to the call. A webcast can also be accessed at https://events.q4inc.com/attendee/845777270

A replay of the webcast and transcript will also be made available on the Investor Relations website following the conclusion of the event, or can be accessed by dialing (800) 770-2030, conference ID: 2021948, following the conclusion of the event through December 7, 2023.

For more information about loanDepot, please visit the company’s Investor Relations website: investors.loandepot.com.

Non-GAAP Financial Measures

To provide investors with information in addition to our results as determined by GAAP, we disclose certain non-GAAP measures to assist investors in evaluating our financial results. We believe these non-GAAP measures provide useful information to investors regarding our results of operations because each measure assists both investors and management in analyzing and benchmarking the performance and value of our business. They facilitate company-to-company operating performance comparisons by backing out potential differences caused by variations in hedging strategies, changes in valuations, capital structures (affecting interest expense on non-funding debt), taxation, the age and book depreciation of facilities (affecting relative depreciation expense), and other cost or benefit items which may vary for different companies for reasons unrelated to operating performance. These non-GAAP measures include our Adjusted Total Revenue, Adjusted Net Income (Loss), Adjusted Diluted Earnings (Loss) Per Share (if dilutive), and Adjusted EBITDA (LBITDA). We exclude from these non-GAAP financial measures the change in fair value of MSRs and related hedging gains and losses as they add volatility and are not indicative of the Company’s operating performance or results of operation. We also exclude stock-based compensation expense, which is a non-cash expense, gains or losses on extinguishment of debt and disposal of fixed assets, non-cash goodwill impairment, and other impairment charges to intangible assets and operating lease right-of-use assets as management does not consider these costs to be indicative of our performance or results of operations. Adjusted EBITDA (LBITDA) includes interest expense on funding facilities, which are recorded as a component of “net interest income (expense)”, as these expenses are a direct operating expense driven by loan origination volume. By contrast, interest expense on our non-funding debt is a function of our capital structure and is therefore excluded from Adjusted EBITDA (LBITDA). Adjustments for income taxes are made to reflect historical results of operations on the basis that it was taxed as a corporation under the Internal Revenue Code, and therefore subject to U.S. federal, state and local income taxes. Adjustments to Diluted Weighted Average Shares Outstanding assumes the pro forma conversion of weighted average Class C shares to Class A common stock. These non-GAAP measures have limitations as analytical tools, and should not be considered in isolation or as a substitute for revenue, net income, or any other operating performance measure calculated in accordance with GAAP, and may not be comparable to a similarly titled measure reported by other companies. Some of these limitations are:

•they do not reflect every cash expenditure, future requirements for capital expenditures or contractual commitments;

•Adjusted EBITDA (LBITDA) does not reflect the significant interest expense or the cash requirements necessary to service interest or principal payment on our debt;

•although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced or require improvements in the future, and Adjusted Total Revenue, Adjusted Net Income (Loss), and Adjusted EBITDA (LBITDA) do not reflect any cash requirement for such replacements or improvements; and

•they are not adjusted for all non-cash income or expense items that are reflected in our statements of cash flows.

Because of these limitations, Adjusted Total Revenue, Adjusted Net Income (Loss), Adjusted Diluted Earnings (Loss) Per Share, and Adjusted EBITDA (LBITDA) are not intended as alternatives to total revenue, net income (loss), net income (loss) attributable to the Company, or Diluted Earnings (Loss) Per Share or as an indicator of our operating performance and should not be considered as measures of discretionary cash available to us to invest in the growth of our business or as measures of cash that will be available to us to meet our obligations. We compensate for these limitations by using Adjusted Total Revenue, Adjusted Net Income (Loss), Adjusted Diluted Earnings (Loss) Per Share, and Adjusted EBITDA (LBITDA) along with other comparative tools, together with U.S. GAAP measurements, to assist in the evaluation of operating performance. See below for a reconciliation of these non-GAAP measures to their most comparable U.S. GAAP measures.


Reconciliation of Total Revenue to Adjusted Total Revenue ($ in thousands) (Unaudited)	Three Months Ended						Nine Months Ended
	Sep 30, 2023		Jun 30, 2023		Sep 30, 2022		Sep 30, 2023		Sep 30, 2022
Total net revenue	$	265,661	$	271,833	$	274,192	$	745,395	$	1,086,141
Change in fair value of servicing rights, net of hedging gains and losses(1)	702		3,876		(24,529)		22,868		(58,601)
Adjusted total revenue	$	266,363	$	275,709	$	249,663	$	768,263	$	1,027,540

(1)Represents the change in the fair value of servicing rights due to changes in valuation inputs or assumptions, net of gains or losses from derivatives hedging servicing rights.


Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss) ($ in thousands) (Unaudited)	Three Months Ended						Nine Months Ended
	Sep 30, 2023		Jun 30, 2023		Sep 30, 2022		Sep 30, 2023		Sep 30, 2022
Net loss attributable to loanDepot, Inc.	$	(16,599)	$	(23,443)	$	(60,081)	$	(82,950)	$	(195,750)
Net loss from the pro forma conversion of Class C common shares to Class A common shares (1)	(17,663)		(26,316)		(77,401)		(92,793)		(256,873)
Net loss	(34,262)		(49,759)		(137,482)		(175,743)		(452,623)
Adjustments to the benefit for income taxes(2)	4,845		6,916		20,124		25,054		66,787
Tax-effected net loss	(29,417)		(42,843)		(117,358)		(150,689)		(385,836)
Change in fair value of servicing rights, net of hedging gains and losses(3)	702		3,876		(24,529)		22,868		(58,601)

Stock-based compensation expense	3,940		5,754		4,773		15,619		11,794

Gain on extinguishment of debt	(1,651)		(39)		—		(1,690)		(10,528)
Loss on disposal of fixed assets	93		751		11,026		1,105		11,026
Goodwill impairment	—		—		—		—		40,736
Other impairment	129		686		9,149		470		15,112
Tax effect of adjustments(4)	(655)		(2,514)		93		(9,140)		9,196
Adjusted net loss	$	(26,859)	$	(34,329)	$	(116,846)	$	(121,457)	$	(367,101)

(1)Reflects net loss to Class A common stock and Class D common stock from the pro forma exchange of Class C common stock.

(2)loanDepot, Inc. is subject to federal, state and local income taxes. Adjustments to income tax benefit reflect the effective income tax rates below, and the pro forma assumption that loanDepot, Inc. owns 100% of LD Holdings.


	Three Months Ended						Nine Months Ended
	Sep 30, 2023		Jun 30, 2023		Sep 30, 2022		Sep 30, 2023		Sep 30, 2022
Statutory U.S. federal income tax rate	21.00	%	21.00	%	21.00	%	21.00	%	21.00	%
State and local income taxes (net of federal benefit)	6.43	%	5.28	%	5.00	%	6.00	%	5.00	%
Effective income tax rate	27.43	%	26.28	%	26.00	%	27.00	%	26.00	%

(3)Represents the change in the fair value of servicing rights due to changes in valuation inputs or assumptions, net of gains or losses from derivatives hedging servicing rights.

(4)Amounts represent the income tax effect using the aforementioned effective income tax rates, excluding certain discrete tax items.


Reconciliation of Adjusted Diluted Weighted Average Shares Outstanding to Diluted Weighted Average Shares Outstanding ($ in thousands except per share data) (Unaudited)	Three Months Ended						Nine Months Ended
	Sep 30, 2023		Jun 30, 2023		Sep 30, 2022		Sep 30, 2023		Sep 30, 2022
Net loss attributable to loanDepot, Inc.	$	(16,599)	$	(23,443)	$	(60,081)	$	(82,950)	$	(195,750)
Adjusted net loss	(26,859)		(34,329)		(116,846)		(121,457)		(367,101)

Share Data:
Diluted weighted average shares of Class A and Class D common stock outstanding	175,962,804		173,908,030		162,464,369		173,568,986		151,803,928
Assumed pro forma conversion of weighted average Class C shares to Class A common stock	147,171,089		148,597,745		156,677,534		148,741,661		167,796,888
Adjusted diluted weighted average shares outstanding	323,133,893		322,505,775		319,141,903		322,310,647		319,600,816


Reconciliation of Net Income (Loss) to Adjusted EBITDA (LBITDA) ($ in thousands) (Unaudited)	Three Months Ended						Nine Months Ended
	Sep 30, 2023		Jun 30, 2023		Sep 30, 2022		Sep 30, 2023		Sep 30, 2022
Net loss	$	(34,262)	$	(49,759)	$	(137,482)	$	(175,743)	$	(452,623)
Interest expense - non-funding debt (1)	42,504		43,026		36,138		128,619		83,671
Income tax benefit	(5,205)		(8,556)		(23,451)		(28,622)		(63,274)
Depreciation and amortization	10,592		10,721		10,243		31,339		32,110
Change in fair value of servicing rights, net of hedging gains and losses(2)	702		3,876		(24,529)		22,868		(58,601)

Stock-based compensation expense	3,940		5,754		4,773		15,619		11,794

Loss on disposal of fixed assets	93		751		11,026		1,105		11,026
Goodwill impairment	—		—		—		—		40,736
Other impairment (recovery)	129		686		9,149		470		15,112
Adjusted EBITDA (LBITDA)	$	18,493	$	6,499	$	(114,133)	$	(4,345)	$	(380,049)

(1)Represents other interest expense, which includes gain on extinguishment of debt and amortization of debt issuance costs, in the Company’s consolidated statements of operations.

(2)Represents the change in the fair value of servicing rights due to changes in valuation inputs or assumptions, net of gains or losses from derivatives hedging servicing rights.

Forward-Looking Statements

This press release may contain "forward-looking statements," which reflect loanDepot's current views with respect to, among other things, our business strategies, including the Vision 2025 plan, including our expanded productivity program, our progress toward run-rate profitability, our HELOC product, financial condition and liquidity, competitive position, industry and regulatory environment, potential growth opportunities, the effects of competition, operations and financial performance. You can identify these statements by the use of words such as "outlook," "potential," "continue," "may," "seek," "approximately," "predict," "believe," "expect," "plan," "intend," "estimate," “project,” or "anticipate" and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as "will," "should," "would" and "could." These forward-looking statements are based on current available operating, financial, economic and other information, and are not guarantees of future performance and are subject to risks, uncertainties and assumptions, including but not limited to, the following: our ability to achieve the expected benefits of our Vision 2025 plan and the success of our cost-reduction initiatives, such as the expanded productivity program; our ability to achieve run-rate profitability; our loan production volume; our ability to maintain an operating platform and management system sufficient to conduct our business; our ability to maintain warehouse lines of credit and other sources of capital and liquidity; cyberattacks, information or security breaches and technology disruptions or failures, of ours or of our third party vendors; the outcome of legal proceedings to which we are a party; adverse changes in macroeconomic and U.S residential real estate and mortgage market conditions, including increases in interest rate levels; changing federal, state and local laws, as well as changing regulatory enforcement policies and priorities; and other risks detailed in the "Risk Factors" section of loanDepot, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2022 and Quarterly Reports on Form 10-Q as well as any subsequent filings with the Securities and Exchange Commission, which are difficult to predict. Therefore, current plans, anticipated actions, financial results, as well as the anticipated development of the industry, may differ materially from what is expressed or forecasted in any forward-looking statement. loanDepot does not undertake any obligation to publicly update or revise any forward-looking statement to reflect future events or circumstances, except as required by applicable law.

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 the pioneering leader of the mortgage industry with a digital-first approach that makes it easier, faster and less stressful to purchase or refinance a home. Today, as one of the nation's largest non-bank mortgage lenders, 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

gerdelji@loandepot.com

Media Contact:

Rebecca Anderson

Senior Vice President, Communications & Public Relations

(949) 822-4024

rebeccaanderson@loandepot.com

LDI-IR

3Q 2023 INVESTOR PRESENTATION November 7, 2023

DISCLAIMER 2 Forward-Looking Statements and Other Information This press release may contain "forward-looking statements," which reflect loanDepot's current views with respect to, among other things, our business strategies, including the Vision 2025 plan, including our expanded productivity program, our progress toward run-rate profitability, our HELOC product, financial condition and liquidity, competitive position, industry and regulatory environment, potential growth opportunities, the effects of competition, operations and financial performance. You can identify these statements by the use of words such as "outlook," "potential," "continue," "may," "seek," "approximately," "predict," "believe," "expect," "plan," "intend," "estimate," “project,” or "anticipate" and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as "will," "should," "would" and "could." These forward-looking statements are based on current available operating, financial, economic and other information, and are not guarantees of future performance and are subject to risks, uncertainties and assumptions, including but not limited to, the following: our ability to achieve the expected benefits of our Vision 2025 plan and the success of our cost-reduction initiatives, such as the expanded productivity program; our ability to achieve run-rate profitability; our loan production volume; our ability to maintain an operating platform and management system sufficient to conduct our business; our ability to maintain warehouse lines of credit and other sources of capital and liquidity; cyberattacks, information or security breaches and technology disruptions or failures, of ours or of our third party vendors; the outcome of legal proceedings to which we are a party; adverse changes in macroeconomic and U.S residential real estate and mortgage market conditions, including increases in interest rate levels; changing federal, state and local laws, as well as changing regulatory enforcement policies and priorities; and other risks detailed in the "Risk Factors" section of loanDepot, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2022 and Quarterly Reports on Form 10-Q as well as any subsequent filings with the Securities and Exchange Commission, which are difficult to predict. Therefore, current plans, anticipated actions, financial results, as well as the anticipated development of the industry, may differ materially from what is expressed or forecasted in any forward-looking statement. loanDepot does not undertake any obligation to publicly update or revise any forward-looking statement to reflect future events or circumstances, except as required by applicable law. Non-GAAP Financial Information To provide investors with information in addition to our results as determined by GAAP, we disclose certain non-GAAP measures to assist investors in evaluating our financial results. We believe these non-GAAP measures provide useful information to investors regarding our results of operations because each measure assists both investors and management in analyzing and benchmarking the performance and value of our business. They facilitate company-to-company operating performance comparisons by backing out potential differences caused by variations in hedging strategies, changes in valuations, capital structures (affecting interest expense on non-funding debt), taxation, the age and book depreciation of facilities (affecting relative depreciation expense), and other cost or benefit items which may vary for different companies for reasons unrelated to operating performance. These non-GAAP measures include our Adjusted Total Revenue, Adjusted Net Income (Loss), Adjusted Diluted Earnings (Loss) Per Share (if dilutive), and Adjusted EBITDA (LBITDA). We exclude from these non-GAAP financial measures the change in fair value of MSRs and related hedging gains and losses as they add volatility and are not indicative of the Company’s operating performance or results of operation. We also exclude stock-based compensation expense, which is a non-cash expense, gains or losses on extinguishment of debt and disposal of fixed assets, non-cash goodwill impairment, and other impairment charges to intangible assets and operating lease right-of-use assets as management does not consider these costs to be indicative of our performance or results of operations. Adjusted EBITDA (LBITDA) includes interest expense on funding facilities, which are recorded as a component of “net interest income (expense)”, as these expenses are a direct operating expense driven by loan origination volume. By contrast, interest expense on our non- funding debt is a function of our capital structure and is therefore excluded from Adjusted EBITDA (LBITDA). Adjustments for income taxes are made to reflect historical results of operations on the basis that it was taxed as a corporation under the Internal Revenue Code, and therefore subject to U.S. federal, state and local income taxes. Adjustments to Diluted Weighted Average Shares Outstanding assumes the pro forma conversion of weighted average Class C shares to Class A common stock. These non-GAAP measures have limitations as analytical tools, and should not be considered in isolation or as a substitute for revenue, net income, or any other operating performance measure calculated in accordance with GAAP, and may not be comparable to a similarly titled measure reported by other companies. Market and Industry Data This presentation also contains information regarding the loanDepot’s market and industry that is derived from third-party research and publications. That information may rely upon a number of assumptions and limitations, and the Company has not independently verified its accuracy or completeness.

3 THIRD QUARTER FACT SHEET Financial Operational • Originations: $6.1 billion in funded volume, in line with third quarter 2023 guidance • Total Revenue: $265.7 million on $5.7 billion of pull-through weighted lock volume • Total Expenses: Decreased by $25.0 million, or 8% from the second quarter of 2023, across almost all expense categories • Liquidity: Unrestricted cash and equivalents of $717.2 million vs. $719.1 million at end of second quarter of 2023; undrawn borrowing capacity totaling $3.8 million at quarter-end • Servicing: Increased UPB to $144.0 billion at end of quarter, compared to $142.5 billion in Q2 ’23 • Continued progress towards our Vision 2025 strategy to address current and anticipated market conditions and position company for long-term value creation o Announced $120 million cost savings initiative, $100 million of which non-volume related ▪ Savings primarily consisting of non-headcount related: vendor contract terminations/renegotiation, optimized marketing spend, lower corporate real estate costs ▪ Remainder are FTE reductions and organization related o Headcount: Reduced headcount to 4,532 from 4,683 since the end of the second quarter 2022 • Purchase Mix: 71% of total Originations compared to 73% in second quarter 2023 • Organic Refinance Consumer Direct Recapture Rate(1): Increased to 71% for the quarter compared to 68% in second quarter 2023 • Unit Market Share: 1.8% in third quarter 2023 vs. 1.7% in second quarter 2023. (1) We define organic refinance consumer direct recapture rate as the total unpaid principal balance (“UPB”) of loans in our servicing portfolio that are paid in full for purposes of refinancing the loan on the same property, with the Company acting as lender on both the existing and new loan, divided by the UPB of all loans in our servicing portfolio that paid in full for the purpose of refinancing the loan on the same property. The recapture rate is finalized following the publication date of this release when external data becomes available.

4 VISION 2025 PLAN SIGNIFICANT PROGRESS EXECUTING VISION 2025 OBJECTIVES Focus on Purchase Transactions and Serving Diverse Communities • Named by The Wall Street Journal as the “Best Mortgage Lender for First- Time Buyers,” validating our mission of purpose- driven lending to the increasingly diverse communities comprising first-time homebuyers • Launched “accessZERO” program to make homeownership more accessible by offering up to five percent in downpayment assistance • Quarterly non-volume related expenses decreased $18.7 million, since the second quarter of 2023 (3rd quarter expenses include Vision 2025 charges of $2.5 million(1) and $2 million related to the expected settlement of litigation) • Since the launch of Vision 2025 in the second quarter of 2022, we have reduced our total quarterly expenses by approximately 45% Aggressively Right-Size Cost Structure • Strong HELOC performance expected to give efficient access to home equity in as little as seven days • Continued investment in our in-house servicing business to complement our origination strategy and serve customers through the entire mortgage journey • 47 Retail LOs were named to the Scotsman Guide for Top Originators Execute Growth Generating Initiatives • Streamline organizational structure to better position the company for the rapidly evolving mortgage market and enhance quality and effectiveness • Increase share of lending for purchase transactions, while achieving top- quartile quality, increasing automation, and achieving operating leverage Optimize Organizational Structure (1) Vision 2025 charges included $1.2 million of professional services fees, $0.8 million of personnel related expenses and $0.5 million of lease and other asset impairment charges.

DIVERSE & EXPERIENCED MANAGEMENT TEAM WITH UNIQUE SKILLSETS President and CEO Jeff WalshDavid Hayes Dan Binowitz Jeff DerGurahian Chief Administrative Officer President, LDI Mortgage Town & Country Credit Corp. Chief Investment Officer and Head Economist TJ Freeborn Chief Information Officer George Brady Frank Martell Managing Director Operations & Servicing 5 Gregg Smallwood Chief Legal Officer, Corporate Secretary Joe Grassi Chief Risk Officer Darren Graeler Chief Accounting Officer Melanie Graper Chief Human Resources Officer Chief Financial Officer

$35 $33 $45 $101 $137 $54 $24 2.0% 2.0% 2.0% 2.5% 3.4% 2.4% 1.4% – 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 0 20 40 60 80 100 120 140 2017 2018 2019 2020 2021 2022 LTM Q3'23 loanDepot Historical Mortgage Origination Volume SCALED ORIGINATOR DELIVERING CUSTOMERS A COMPLETE SOLUTION Inception to LTM Q3’23 Origination CAGR: 24%(1) loanDepot Originations loanDepot Market Share $1.7 $2.3 $4.1 Total market volume ($ trillion) $4.0 $2.2 (1) CAGR includes annualized volume for 2010 Source: Historical market share based on MBA industry volume as of 10/15/2023 and historical loanDepot origination volume ($ in billions) The loanDepot Ecosystem Established Scalable Infrastructure 2010 to 2012 Diversification & Expansion 2013 to 2015 Brand, Technology & Operational Transformation 2016 to 2021 Vision 2025 & Beyond 2022 + • Launched with the goal of disrupting mortgage • Created scalable platform and infrastructure • Expanded in-market retail reach through acquisitions • Leveraged infrastructure to launch LD Wholesale • Strategic decision to begin retaining servicing • Launched proprietary mello® technology • Grew servicing book with long-term relationships to a half million loanDepot customers • Launched mellohome and melloInsurance • Acquired leading title insurance company • Formed mello® focused on mortgage adjacent, digital-first products and services • Repositioning the Company for long term value creation • Purpose driven sustainable lending • Simplifying operational structure and increasing operating leverage • Maintaining strong balance sheet liquidity • Additions to executive team to position company for next era • Launch of HELOC $1.8 6 Title Insurance Escrow Services Homeowners Insurance First Mortgage HELOC $1.6

ORIGINATION GROWTH RELATIVE TO INDUSTRY (1) MBA as of 10/15/2023 Note: Pull through weighted rate lock volume is the unpaid principal balance of loans subject to interest rate lock commitments, net of a pull-through factor for the loan funding probability 7 Purchase Mix % : 31% 26% ($ in billions) Total Market Share (%) 2.4% 2.8% 3.4% 19% 3.3% 30% 34% 3.4% 3.3% 34% 37% 3.1% 59% 2.4% 2.1% 70% 1.6% 76% 1.5% 71% 1.4% 73% $36 $36 $33 $30 $30 $23 $20 $12 $9 $4 $5 $6 $6 $27 $37 $41 $34 $32 $29 $22 $16 $10 $6 $5 $6 $6 372 346 369 264 299 281 213 150 203 221 226 285 293 - 50 100 150 200 250 300 350 400 $0 $10 $20 $30 $40 $50 $60 $70 $80 Q3 2020A Q4 2020A Q1 2021A Q2 2021A Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Pull-Through Weighted (PTW) Lock Volume Origination Volume PTW GOS Margin, bps 71% 1.4%

Historical expenses in bps of funded mortgage volume HISTORICAL COST STRUCTURE COMPARISON 8 338 bps 295 bps 428 bps Total Revenue (bps funded volume): Pre-tax Net Income (bps funded volume): (31) bps 7 bps 200 bps Salary Expense Marketing and Advertising Expense Direct Origination Expense (incl. Investor Fees) Servicing Expense Other G&A 272 bps 49 bps Commission Expense 234 bps (128) bps 2023 YTD Expenses to Note: • $6.2 million of severance payments • $3.5 million of lease and other asset impairment charges • $2.1 million of Vision 2025 related professional services fees • $9.6 million of accruals for expected legal settlements • YTD Total Expenses of $21.4 million (~12 bps) 431 bps (118) bps 129 96 78 72 125 180 78 73 74 68 66 74 58 41 26 34 44 60 25 21 12 14 22 29 15 9 8 7 10 11 64 48 29 27 94 194 369 bps 288 bps 228 bps 223 bps 362 bps 549 2018 2019 2020 2021 2022 YTD '23

HISTORICAL SERVICING PORTFOLIO TREND 9 ($ in billions) Retention %(2) : Recapture %(1) : (1) Recapture rate as defined on page 3. (2) Portion of loan origination volume that was sold servicing retained in the period divided by total sold volume in the period. (3) At time of origination. Excludes HELOC. Total Serv Exp$ to Avg. UPB $, bps: 56% 69% 2.4 61% 65% 2.0 Portfolio @ 9/30/23(3) W.A. Coupon 3.37% W.A. FICO (3) 738 W.A. LTV 72% W.A. Life (Mths) 25.3 DQ Rate 60D+ 0.9% 90D+ 0.8% Composition GSE 65.6% Gov’t/EBO 27.5% Other 6.9% 61% 67% 1.7 65% 68% 1.7 67% 71% 2.0 $140 $141 $142 $142 $144 144 143 142 141 143 - 20 40 60 80 100 120 140 $130 $132 $134 $136 $138 $140 $142 $144 $146 Q3 '22 Q4 '22 Q1 '23 Q2 '23 Q3 '23 UPB $ MSR FV, bps

Liquidity / Total Assets $1,144 $864 $798 $719 $717 $7 $29 $4 $2 $4 $1,151 $893 $802 $721 $721 Q3 '22 Q4 '22 Q1 '23 Q2 '23 Q3 '23 Unrestricted Cash Unused Lines STRONG LIQUIDITY AND BALANCE SHEET Note: Please see Appendix for Non-GAAP Reconciliation 10 Liquidity Overview ($M) Debt Obligations, net to Total Equity MSR FV / Total Equity 1.9x 2.2x 2.4x 2.5x 2.7x Q3 '22 Q4 '22 Q1 '23 Q2 '23 Q3 '23 2.1x 2.5x 2.7x 2.8x 2.9x Q3 '22 Q4 '22 Q1 '23 Q2 '23 Q3 '23

11 Q4 2023 OUTLOOK* Metric Low High Pull-through Weighted Rate Lock Volume ($bn) $3.8 $5.8 Origination Volume ($bn) $4.0 $6.0 Pull-through Weighted GOS Margin, bps 240 280 Current Market Conditions • Higher interest rates adversely impacts home affordability and borrower demand • Limited supply of new and resale homes adversely impacts homebuying activity • Homeowner equity levels drives demand for cash-out refinance and HELOC products • Higher interest rates resulting in little incentive for rate and term refinance • Sharper focus on industry consolidation, driven primarily by headcount reductions and competitor exits to shed excess capacity given lower industry volume expectations *Q4 2023 outlook reflects current interest rate environment, seasonality, channel mix, and competitive pressures

APPENDIX: FINANCIALS AND GAAP TO NON- GAAP RECONCILIATIONS

BALANCE SHEET & SERVICING PORTFOLIO HIGHLIGHTS 13 $ in MM except units and % 3Q ’23 2Q ‘23 3Q ‘22 3Q’23 vs 2Q’23 3Q’23 vs 3Q’22 Cash and cash equivalents $717.2 $719.1 $1,143.9 (0.3%) (37.3%) Loans held for sale, at fair value 2,070.7 2,256.6 2,692.8 (8.2%) (23.1%) Servicing rights, at fair value 2,053.4 2,012.0 2,030.0 2.1% 1.1% Total assets 6,078.5 6,203.5 7,378.5 (2.0%) (17.6%) Warehouse and other lines of credit 1,897.9 2,046.2 2,529.4 (7.2%) (25.0%) Total liabilities 5,309.6 5,406.2 6,300.0 (1.8%) (15.7%) Total equity 768.9 797.3 1,078.5 (3.6%) (28.7%) Servicing portfolio (unpaid principal balance) $ 143, 959.7 $142,479.9 $ 139,709.6 1.0% 3.0% Total servicing portfolio (units) 490,191 482,266 463,471 1.6% 5.8% 60+ days delinquent ($) $1,235.4 $1,192.4 $1,365.8 3.6% (9.5%) 60+ days delinquent (%) 0.9% 0.8% 1.0% N/A N/A Servicing rights, net to UPB 1.4% 1.4% 1.4% N/A N/A

NON-GAAP FINANCIAL RECONCILIATION 14 ($MM) 3Q ‘23 2Q ’23 3Q ’22 Adjusted Revenue Total Net Revenue $265.7 $271.8 $274.2 Change in FV of Servicing Rights, Net of Hedge 0.7 3.9 (24.5) Adjusted Total Revenue $266.4 $275.7 $249.7 Adjusted (LBITDA) EBITDA Net (Loss) Income ($34.3) ($49.8) ($137.5) Interest Expense - Non-Funding Debt 42.5 43.0 36.1 Income Tax (Benefit) Expense (5.2) (8.6) (23.4) Depreciation and Amortization 10.6 10.7 10.2 Change in FV of Servicing Rights, Net of Hedge 0.7 3.9 (24.5) Stock-Based Compensation Expense 3.9 5.8 4.8 Goodwill Impairment 0.0 0.0 0.0 Loss on Disposal of Fixed Assets & Other Impairments 0.2 1.4 20.2 Adjusted (LBITDA) EBITDA $18.5 $6.5 ($114.1)

NON-GAAP FINANCIAL RECONCILIATION (CONT’D) 15 ($MM) 3Q ’23 2Q ‘23 3Q ’22 Adjusted Net (Loss) Income Net (Loss) Income ($34.3) ($49.8) ($137.5) Adjustments to Income Taxes 4.8 6.9 20.1 Tax-Effected Net (Loss) Income (29.4) (42.8) ($117.4) Change in FV of Servicing Rights, Net of Hedge 0.7 3.9 (24.5) Stock-Based Compensation Expense 3.9 5.8 4.8 Loss on Disposal of Fixed Assets 0.1 0.8 11.0 Gain on Extinguishment of Debt (1.7) (0.0) 0.0 Goodwill & Other Impairment 0.1 0.7 9.1 Tax Effect of Adjustments (0.7) (2.5) 0.1 Adjusted Net (Loss) Income ($26.9) ($34.3) ($116.9)

NON-GAAP FINANCIAL RECONCILIATION (CONT’D) 16 ($MM) 3Q ’23 2Q ’23 1Q ‘23 4Q ‘22 3Q ’22 2Q ’22 1Q ’22 4Q’21 Tangible Net Worth Total Equity $768.9 $797.3 $841.2 $921.5 $1,078.5 $1,213.9 $1,511.2 $1,629.4 Less: Goodwill 0.0 0.0 0.0 0.0 0.0 0.0 (40.7) (40.7) Less: Intangibles 0.0 0.0 0.0 0.0 0.0 0.0 (1.5) (1.6) Tangible Net Worth $768.9 $797.3 $841.2 $921.5 $1,078.5 $1,213.9 $1,469.0 $1,587.0 Non-Funding Debt Total Debt, net $2,206.1 $2,239.8 $2,303.7 $2,289.3 $2,283.7 $2,427.1 $1,947.6 $1,628.2 Less: Securitization Debt, net 0.0 0.0 0.0 0.0 0.0 0.0 (421.3) 0.0 Non-Funding Debt $2,206.1 $2,239.8 $2,303.7 $2,289.3 $2,283.7 $2,427.1 $1,526.3 $1,628.2

Cover	Nov. 07, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	Nov. 07, 2023
Entity Registrant Name	loanDepot, Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-40003
Entity Tax Identification Number	85-3948939
Entity Address, Address Line One	6561 Irvine Center Drive
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92618
City Area Code	(888)
Local Phone Number	337-6888
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Class A Common Stock, $0.001 Par Value
Trading Symbol	LDI
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0001831631