loanDepot Does It Again: Cuts Funding Capacity By $500M For 3rd Time

National Mortgage Professional, Oct. 7, 2022–David Krechevsky
The $1.5 billion in reductions follow the company’s announcement on Aug. 9 that it would exit the wholesale lending business. That decision was announced as it released its earnings for the second quarter of 2022, which showed a net loss of $223.8 million, or 66 cents per diluted share, its second-consecutive quarterly loss.
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