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The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 2.63. LoanDepot has a 12 month low of $1.25 and a 12 month high of $5.57. The company has a fifty day simple moving average of $1.54 and a 200 day simple moving average of $1.64. The stock has a market cap of $506.23 million, a P/E ratio of -1.31 and a beta of 2.21. A number of equities analysts have issued reports on LDI shares. Credit Suisse Group lowered their target price on loanDepot from $3.25 to $2.50 and set an “outperform” rating for the company in a report on Monday, November 21st.
LoanDepot is a California-based, non-bank financial lender that was founded in 2010. Along with loan products that feature low closing fees, the company also offers cash-out refinance and home equity loans. The company offers fast and easy application and process, handy loan calculators, and other online services to assist borrowers through the process of refinancing their homes. Loan Depot offers a wide array of loan options, particularly for an online mortgage lender.
Frequently Asked Questions About Mortgages From LoanDepot
It’s worth mentioning that loanDepot does not offer USDA loans. The home purchase process with loanDepot can take between 30 to 60 days. Here are a few more details that can give you a better idea of loanDepot's services. They also offer 203k loans, which can get you enough to buy a home and make repairs and improvements on it.
The borrower’s credit score and income is also used in determining how much can be borrowed, and of course a lender’s specific guidelines. LoanDepot home equity maximum loan amounts can be as high as $250,000. LoanDepot opened its doors 12 years ago, funding $275 billion in purchases and refinances since then.
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Currently, loanDepot does not publicly promote any interest rates. To get a refinance loan offer customized to your credit profile, you'll have to login into the loanDepot site and complete an application. If you’d like, you can even schedule an in-person meeting to discuss your options with a loanDepot lending officer. It’s a personal touch that a lot of online lenders simply can’t compete with.
Our ratings take into account interest rates, lender fees, loan types, discounts, accessibility, borrower requirements and other attributes. Consumers may complete their loan application online, but can only see the rates available to them by completing a hard credit check. LoanDepot doesn’t publish current refinance rates for its products unless you complete the loan application.
Who are LoanDepot home equity loans designed for?
They did not apologize to me, they blamed it on COVID that communication was lost. In my opinion, information should have been communicated to me on the day of the initial intake. It was easier for them to give me a reason that justified their decision instead of taking ownership of their incompetence and lack of communication.
For example, there’s a loan origination fee that can range from 1% to 5%, depending on the loan. Other fees you might incur include appraisal fees, document preparation fees, and other various fees. They do not communicate within departments, they are incompetent, and have lousy customer service. We spent over 2 months working with them only to get told that we couldn't get refinanced due to the condo complex having to many renters.
Like most lenders, loanDepot is subject to lending regulations in states where it does business. Depending on your state, some loan products and terms may not be available to you. You should speak with one of the lender’s licensed mortgage officers to understand any restrictions and limitations on your home refinance. LoanDepot’s public-facing website gives homebuyers a small amount of pre-sales information, though no specific rates or loan terms are advertised. If you want to receive refinance offers with specific terms, you must create a loanDepot account, submit your social security number and complete an application. Make sure you understand the mortgage refinance steps you need to take to increase your approval odds before starting your application.
By clicking "TRY IT", I agree to receive newsletters and promotions from Money and its partners. I agree to Money's Terms of Use and Privacy Notice and consent to the processing of my personal information. Money's Top Picks Best Personal Loans Over 170 hours of research determined the best personal loan lenders. Current Mortgage Rates Up-to-date mortgage rate data based on originated loans. Once you get through the approval process, you’ll schedule a closing date through loanDepot.
Vanguard Group Inc. raised its stake in loanDepot by 61.8% during the 1st quarter. Vanguard Group Inc. now owns 2,420,998 shares of the company’s stock worth $10,047,000 after acquiring an additional 925,002 shares during the period. Bought a new stake in loanDepot during the 2nd quarter worth approximately $707,000.
Took them over a week to review survey, blew past contracted closing date. They charge $22 to check your credit, other lenders do not. They actually wanted to charge me $2k to buy down to the rate all other lenders were at with no fees. They say they might approve recasting after a long period and $30k min down. Really can't come up with one good reason to get involved with loanDepot except to maybe short their stock.
Once the system determines that you qualify, you are then immediately directed to submit documents as well as income and asset reports online. LoanDepot provides quite a few resources on their site to help customers explore their options, including various calculators and a large library of educational articles. Borrowers can apply and obtain quotes fully online, but also have the option of working personally with a loan officer either by phone or at one of 200 branch locations nationwide. Since refinancing is an important decision and involves a series of steps, some customers may really appreciate the ability to have their questions answered directly in realtime. LoanDepot receives an A+ rating from the Better Business Bureau with an average customer review score of 4 out of 5 stars. Additionally, loanDepot's complaint volume with the Consumer Financial Protection Bureau is well below average.
This is due to the fact that in the event of a default, the first mortgage will always have precedence. While the process of applying for and obtaining a second mortgage may take some time, the results and benefits are well worth it for many homeowners. LoanDepot employs a streamlined online platform to collect all of your application documents. The lender’s website includes a “Knowledge Cafe” with educational resources on buying and owning a home, and borrowers can easily apply and make their monthly payments online. The mello smartloan platform is designed to verify all of your documentation and credit reporting in around seven minutes and facilitate a paperless process. The lender has closed loans in as few as seven days, but the typical timeline is 30 days, 45 days or 60 days.
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