Why LoanDepot Billionaire Thinks He’ll Beat Rocket Mortgage And Wells Fargo

Forbes, June 14, 2021–Giacomo Tognini
In just eleven years, the California-based upstart has grown to become the seventh-largest mortgage lender in the U.S., according to trade publication Inside Mortgage Finance, with roughly 3% of the $11 trillion market for new mortgages. LoanDepot’s profits rose by a staggering 5,750% to $2 billion in 2020, while revenues more than tripled to $4.3 billion.