LoanDepot Increases Market Share, But Profits Sink in Q2

HousingWire, Aug. 3, 2021–Maria Volkova
The purchase market reigned supreme in the second quarter of 2021, and multichannel lender loanDepot reported a 31% increase in purchase mortgage transactions from the prior quarter. But the lender’s gain-on-sale margin and net income fell significantly during the second quarter, a trend that is keeping executives and LOs up at night across the industry.