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 5, 2024

_____________________

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 5, 2024, loanDepot, Inc. (the "Company") issued a press release announcing its results for the three and nine months ended September 30, 2024 (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 5, 2024, 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 September 30, 2024 at 5:00 p.m. Eastern time on November 5, 2024.

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 5, 2024
99.2			loanDepot, Inc. Q3 2024 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 5, 2024

loanDepot announces third quarter 2024 financial results

Company achieves profitability on higher volumes, margin growth and productivity

Completes Vision 2025 and launches new strategic plan - Project North Star

Highlights:

•Revenue of $315 million, up 18% compared to the prior year. Adjusted revenue of $329 million, up 26% compared to the prior year.

•Company announces Ridgeland Mortgage joint venture with Smith Douglas Homes, expanding loanDepot’s network of partnerships with top homebuilders.

•Pull-through weighted gain on sale margin of 329 basis points, the highest margin since the beginning of the market downturn.

•Net income of $3 million and adjusted net income of $7 million, compared with prior year net loss and adjusted net loss of $34 million and $29 million, respectively, reflect the positive impact of higher revenue and cost productivity.

•Adjusted EBITDA of $64 million compared with $15 million in the prior year.

•Strong liquidity profile with cash balance of $483 million.

IRVINE, Calif., November 05, 2024 - loanDepot, Inc. (NYSE: LDI), (together with its subsidiaries, “loanDepot” or the “Company”), a leading provider of products and services that power the homeownership journey, today announced results for the third quarter ended September 30, 2024.

“Through the successful implementation of our Vision 2025 strategic program, loanDepot returned to profitability in the third quarter on modest improvements in market volumes, which resulted in higher revenue,” said President and Chief Executive Officer Frank Martell. “We are also realizing the benefits of our ongoing cost management and productivity programs, which helped to fund strategic investments in our platforms, solutions and people. These investments should help position the company for success in 2025 and beyond.

“Vision 2025, launched in July of 2022, was a critical factor in our successful navigation of unprecedented and challenging market conditions over the past three years. The launch of Project North Star builds on the strategic pillars of Vision 2025, including our focus on durable revenue growth, positive operating leverage, productivity and investments in platforms and solutions that support our customer’s homeownership journey,” added Martell.

“We are pleased that the successful completion of the strategic objectives of Vision 2025 has delivered the company’s first profitable quarter since the beginning of the market downturn in the first quarter of 2022,” said David Hayes, Chief Financial Officer. “The third quarter served as validation of our strategy as we saw a modest improvement in the mortgage market, coupled with the company’s positive operating leverage fueled our return to profitability. As we look toward 2025, we anticipate continued market challenges, but we believe that the implementation of Project North Star will allow us to capture the benefit of higher market volumes while we continue to capitalize on our ongoing investments in operational efficiency to achieve sustainable profitability in a wide variety of operating environments.”

Third Quarter Highlights:

Financial Summary


	Three Months Ended									Nine Months Ended
($ in thousands except per share data) (Unaudited)	Sep 30, 2024			Jun 30, 2024			Sep 30, 2023			Sep 30, 2024			Sep 30, 2023

Rate lock volume	$	9,792,423		$	8,298,270		$	8,295,935		$	24,893,023		$	25,738,036
Pull-through weighted lock volume(1)	6,748,057			5,782,309			5,685,209			17,262,202			17,067,876
Loan origination volume	6,659,329			6,090,634			6,083,143			17,308,314			17,301,023
Gain on sale margin(2)	3.33		%	3.06		%	2.74		%	3.11		%	2.66		%
Pull-through weighted gain on sale margin(3)	3.29		%	3.22		%	2.93		%	3.12		%	2.69		%

Financial Results
Total revenue	$	314,598		$	265,390		$	265,661		$	802,772		$	745,395
Total expense	311,003			342,547			305,128			961,497			949,760
Net income (loss)	2,672			(65,853)			(34,262)			(134,685)			(175,743)

Diluted earnings (loss) per share	$	0.01		$	(0.18)		$	(0.09)		$	(0.36)		$	(0.48)

Non-GAAP Financial Measures(4)

Adjusted total revenue	$	329,499		$	278,007		$	261,116		$	838,318		$	755,852
Adjusted net income (loss)	7,077			(15,890)			(29,211)			(48,309)			(124,417)
Adjusted EBITDA	63,742			34,575			15,253			98,820			(8,399)

(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.

Year-over-Year Operational Highlights

•Non-volume related expenses decreased $11.4 million from the third quarter of 2023, primarily due to lower general and administrative expenses, offset somewhat by higher headcount related salary expenses and marketing costs.

•Accrued a net benefit of $18.9 million primarily associated with expected insurance proceeds related to the settlement of class-action litigation related to the first quarter Cybersecurity Incident.

•Incurred restructuring and impairment charges totaling $1.9 million, a decrease of $0.4 million from the third quarter of 2023.

•Pull-through weighted lock volume of $6.7 billion for the third quarter of 2024, an increase of $1.1 billion or 19% from the third quarter of 2023.

•Loan origination volume for the third quarter of 2024 was $6.7 billion, an increase of $0.6 billion or 9% from the third quarter of 2023.

•Purchase volume totaled 66% of total loans originated during the third quarter, down slightly from 71% during the third quarter of 2023.

•Our preliminary organic refinance consumer direct recapture rate1 increased to 71% from the third quarter 2023’s recapture rate of 69%.

•Net income for the third quarter of 2024 of $2.7 million as compared to net loss of $34.3 million in the third quarter of 2023. Net income increased primarily due to higher revenue from increased volume and pull-through weighted gain on sale margin.

•Adjusted net income for the third quarter of 2024 was $7.1 million as compared to adjusted net loss of $29.2 million for the third quarter of 2023.

Outlook for the fourth quarter of 2024

•Origination volume of between $6 billion and $8 billion.

•Pull-through weighted rate lock volume of between $5.5 billion and $7.5 billion.

•Pull-through weighted gain on sale margin of between 285 basis points and 305 basis points.

Servicing


	Three Months Ended						Nine Months Ended
Servicing Revenue Data: ($ in thousands) (Unaudited)	Sep 30, 2024		Jun 30, 2024		Sep 30, 2023		Sep 30, 2024		Sep 30, 2023

Due to collection/realization of cash flows	$	(41,498)	$	(42,285)	$	(38,502)	$	(119,783)	$	(114,777)

Due to changes in valuation inputs or assumptions	(52,557)		15,623		68,651		(8,690)		73,422
Realized gain (loss) on sale of servicing rights	32		(3,057)		5,247		(2,980)		12,411
Net gain (loss) from derivatives hedging servicing rights	37,624		(25,183)		(69,353)		(23,876)		(96,290)
Change in fair value of servicing rights, net of hedging gains and losses	(14,901)		(12,617)		4,545		(35,546)		(10,457)
Other realized losses on sales of servicing rights (1)	(164)		(5,885)		(1,731)		(7,290)		(1,734)
Changes in fair value of servicing rights, net	$	(56,563)	$	(60,787)	$	(35,688)	$	(162,619)	$	(126,968)

Servicing fee income (2)	$	124,133	$	125,082	$	120,911	$	373,273	$	360,329

(1)Includes the (provision) recovery for sold MSRs and broker fees.

(2)Servicing fee income for the three and nine months ended September 30, 2023, has been adjusted to incorporate earnings credits, which were previously classified as part of net interest income.

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, 2024		Jun 30, 2024		Sep 30, 2023		Sep 30, 2024		Sep 30, 2023
Balance at beginning of period	$	1,566,463	$	1,970,164	$	1,998,762	$	1,985,718	$	2,025,136
Additions	62,039		66,115		80,068		176,529		215,229
Sales proceeds	(8,466)		(439,199)		(73,972)		(503,777)		(171,167)
Changes in fair value:
Due to changes in valuation inputs or assumptions	(52,557)		15,623		68,651		(8,690)		73,422
Due to collection/realization of cash flows	(41,498)		(42,285)		(38,502)		(119,783)		(114,777)
Realized gains (losses) on sales of servicing rights	32		(3,955)		3,647		(3,984)		10,811
Total changes in fair value	(94,023)		(30,617)		33,796		(132,457)		(30,544)
Balance at end of period (1)	$	1,526,013	$	1,566,463	$	2,038,654	$	1,526,013	$	2,038,654

(1)Balances are net of $16.7 million, $16.7 million, and $14.7 million of servicing rights liability as of September 30, 2024, June 30, 2024, and September 30, 2023, respectively.



										% Change
Servicing Portfolio Data: ($ in thousands) (Unaudited)	Sep 30, 2024			Jun 30, 2024			Sep 30, 2023			Sep-24 vs Jun-24		Sep-24 vs Sep-23







Servicing portfolio (unpaid principal balance)	$	114,915,206		$	114,278,549		$	143,959,705		0.6	%	(20.2)	%

Total servicing portfolio (units)	409,344			403,302			490,191			1.5		(16.5)

60+ days delinquent ($)	$	1,654,955		$	1,457,098		$	1,235,443		13.6		34.0
60+ days delinquent (%)	1.4		%	1.3		%	0.9		%



Servicing rights, net to UPB	1.3		%	1.4		%	1.4		%

Balance Sheet Highlights


							% Change
($ in thousands) (Unaudited)	Sep 30, 2024		Jun 30, 2024		Sep 30, 2023		Sep-24 vs Jun-24		Sep-24 vs Sep-23


Cash and cash equivalents	$	483,048	$	533,153	$	717,196	(9.4)	%	(32.6)	%
Loans held for sale, at fair value	2,790,284		2,377,987		2,070,748		17.3		34.7
Loans held for investment, at fair value	122,066		120,287		—		1.5		NM
Servicing rights, at fair value	1,542,720		1,583,128		2,053,359		(2.6)		(24.9)
Total assets	6,417,627		5,942,777		6,078,529		8.0		5.6
Warehouse and other lines of credit	2,565,713		2,213,128		1,897,859		15.9		35.2
Total liabilities	5,825,578		5,363,839		5,309,594		8.6		9.7
Total equity	592,049		578,938		768,935		2.3		(23.0)

An increase in loans held for sale at September 30, 2024, resulted in a corresponding increase in the balance on our warehouse lines of credit. Total funding capacity with our lending partners was $3.1 billion at September 30, 2024, and $3.9 billion at September 30, 2023. Available borrowing capacity was $0.5 billion at September 30, 2024.

Consolidated Statements of Operations


($ in thousands except per share data)	Three Months Ended						Nine Months Ended
	Sep 30, 2024		Jun 30, 2024		Sep 30, 2023		Sep 30, 2024		Sep 30, 2023
	(Unaudited)						(Unaudited)
REVENUES:
Interest income	$	38,673	$	35,052	$	37,253	$	104,650	$	98,271
Interest expense	(39,488)		(35,683)		(36,770)		(106,837)		(96,459)
Net interest (expense) income	(815)		(631)		483		(2,187)		1,812

Gain on origination and sale of loans, net	198,027		166,920		148,849		481,007		411,336
Origination income, net	23,675		19,494		17,740		56,775		48,088
Servicing fee income	124,133		125,082		120,911		373,273		360,329
Change in fair value of servicing rights, net	(56,563)		(60,787)		(35,688)		(162,619)		(126,968)
Other income	26,141		15,312		13,366		56,523		50,798
Total net revenues	314,598		265,390		265,661		802,772		745,395

EXPENSES:
Personnel expense	161,330		141,036		141,432		436,683		440,258
Marketing and advertising expense	36,282		31,175		33,894		95,811		104,520
Direct origination expense	23,120		21,550		15,749		62,841		50,352
General and administrative expense	22,984		73,160		46,522		153,889		157,473
Occupancy expense	4,800		5,204		5,903		15,113		18,083
Depreciation and amortization	8,931		8,955		10,592		27,329		31,339
Servicing expense	8,427		8,467		8,532		25,155		19,116
Other interest expense	45,129		53,000		42,504		144,676		128,619

Total expenses	311,003		342,547		305,128		961,497		949,760

Income (loss) before income taxes	3,595		(77,157)		(39,467)		(158,725)		(204,365)

Income tax expense (benefit)	923		(11,304)		(5,205)		(24,040)		(28,622)

Net income (loss)	2,672		(65,853)		(34,262)		(134,685)		(175,743)

Net income (loss) attributable to noncontrolling interests	1,303		(33,642)		(17,663)		(69,588)		(92,793)

Net income (loss) attributable to loanDepot, Inc.	$	1,369	$	(32,211)	$	(16,599)	$	(65,097)	$	(82,950)

Basic income (loss) per share	$	0.01	$	(0.18)	$	(0.09)	$	(0.36)	$	(0.48)
Diluted income (loss) per share	$	0.01	$	(0.18)	$	(0.09)	$	(0.36)	$	(0.48)

Weighted average shares outstanding
Basic	185,385,271		182,324,046		175,962,804		183,041,489.00		173,568,986.00
Diluted	332,532,984		182,324,046		175,962,804		183,041,489.00		173,568,986.00

Consolidated Balance Sheets


($ in thousands)	Sep 30, 2024		Jun 30, 2024		Dec 31, 2023
	(Unaudited)
ASSETS
Cash and cash equivalents	$	483,048	$	533,153	$	660,707
Restricted cash	95,593		98,057		85,149
Loans held for sale, at fair value	2,790,284		2,377,987		2,132,880
Loans held for investment, at fair value	122,066		120,287		—
Derivative assets, at fair value	68,647		59,779		93,574
Servicing rights, at fair value	1,542,720		1,583,128		1,999,763
Trading securities, at fair value	92,324		89,477		92,901
Property and equipment, net	62,974		64,631		70,809
Operating lease right-of-use asset	23,020		24,549		29,433
Loans eligible for repurchase	860,300		740,238		711,371
Investments in joint ventures	17,899		17,905		20,363
Other assets	258,752		233,586		254,098



Total assets	$	6,417,627	$	5,942,777	$	6,151,048

LIABILITIES AND EQUITY
LIABILITIES:
Warehouse and other lines of credit	$	2,565,713	$	2,213,128	$	1,947,057
Accounts payable and accrued expenses	381,543		375,319		379,971
Derivative liabilities, at fair value	22,143		17,856		84,962
Liability for loans eligible for repurchase	860,300		740,238		711,371
Operating lease liability	38,538		41,896		49,192
Debt obligations, net	1,957,341		1,975,402		2,274,011
Total liabilities	5,825,578		5,363,839		5,446,564
EQUITY:








Total equity	592,049		578,938		704,484
Total liabilities and equity	$	6,417,627	$	5,942,777	$	6,151,048

Loan Origination and Sales Data


($ in thousands) (Unaudited)	Three Months Ended			Nine Months Ended
	Sep 30, 2024	Jun 30, 2024	Sep 30, 2023	Sep 30, 2024	Sep 30, 2023

Loan origination volume by type:
Conventional conforming	$3,254,702	$3,232,905	$3,158,107	$8,991,282	$9,375,605
FHA/VA/USDA	2,564,827	2,271,104	2,354,630	6,489,956	6,371,168
Jumbo	300,086	229,379	126,408	646,787	405,551
Other	539,714	357,246	443,998	1,180,289	1,148,699
Total	$6,659,329	$6,090,634	$6,083,143	$17,308,314	$17,301,023

















Loan origination volume by purpose:
Purchase	$4,378,575	$4,383,145	$4,337,476	$12,057,993	$12,403,166
Refinance - cash out	1,954,071	1,562,827	1,660,578	4,660,580	4,599,564
Refinance - rate/term	326,683	144,662	85,089	589,741	298,293
Total	$6,659,329	$6,090,634	$6,083,143	$17,308,314	$17,301,023




Loans sold:
Servicing retained	$3,818,375	$4,011,399	$4,175,126	$10,816,315	$11,396,678
Servicing released	2,487,589	1,893,515	2,092,762	5,833,916	6,345,660
Total	$6,305,964	$5,904,914	$6,267,888	$16,650,231	$17,742,338

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 the Company’s earnings results.

The conference call can also be accessed by dialing (800) 715-9871, Conference ID: 9881136. 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/479196723.

A replay of the webcast will be made available on the Investor Relations website following the conclusion of the event.

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, gains (losses) from the sale of MSRs and related hedging gains and losses that represent realized and unrealized adjustments resulting from changes in valuation, mostly due to changes in market interest rates, and are not indicative of the Company’s operating performance or results of operation. Beginning in the second quarter of 2024, we began to include the gains (losses) from the sale of MSRs in valuation changes in servicing rights, net of hedging gains and losses to appropriately capture all valuation changes in MSRs up to and including the sales date. Prior periods have been revised to conform with this new presentation. We also exclude stock-based compensation expense, which is a non-cash expense, expenses directly related to the Cybersecurity Incident, net of expected insurance recoveries, including costs to investigate and remediate the Cybersecurity Incident, the costs of customer notifications and identity protection, professional fees, including legal expenses, litigation settlement costs, and commission guarantees, 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 well as certain costs associated with our restructuring efforts, 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, 2024		Jun 30, 2024		Sep 30, 2023		Sep 30, 2024		Sep 30, 2023
Total net revenue	$	314,598	$	265,390	$	265,661	$	802,772	$	745,395
Valuation changes in servicing rights, net of hedging gains and losses(1)	14,901		12,617		(4,545)		35,546		10,457
Adjusted total revenue	$	329,499	$	278,007	$	261,116	$	838,318	$	755,852

(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. Beginning in the second quarter of 2024, we began to include the gains (losses) from the sale of MSRs in valuation changes in servicing rights, net of hedging gains and losses to appropriately capture all valuation changes in MSRs up to and including the sales date. Prior periods have been revised to conform with this new presentation.


Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss) ($ in thousands) (Unaudited)	Three Months Ended						Nine Months Ended
	Sep 30, 2024		Jun 30, 2024		Sep 30, 2023		Sep 30, 2024		Sep 30, 2023
Net income (loss) attributable to loanDepot, Inc.	$	1,369	$	(32,211)	$	(16,599)	$	(65,097)	$	(82,950)
Net income (loss) from the pro forma conversion of Class C common shares to Class A common stock (1)	1,303		(33,642)		(17,663)		(69,588)		(92,793)
Net income (loss)	2,672		(65,853)		(34,262)		(134,685)		(175,743)
Adjustments to the (provision) benefit for income taxes(2)	(326)		8,838		4,845		17,982		25,054
Tax-effected net income (loss)	2,346		(57,015)		(29,417)		(116,703)		(150,689)
Valuation changes in servicing rights, net of hedging gains and losses(3)	14,901		12,617		(4,545)		35,546		10,457

Stock-based compensation expense	8,200		5,898		3,940		18,952		15,619

Restructuring charges(4)	1,853		3,127		2,007		7,105		8,357

Cybersecurity incident(5)	(18,880)		26,942		—		22,760		—
Loss (gain) on extinguishment of debt	—		5,680		(1,651)		5,680		(1,690)
Loss (gain) on disposal of fixed assets	3		—		93		(25)		1,105

Other impairment(6)	10		1,193		129		1,202		470
Tax effect of adjustments(7)	(1,356)		(14,332)		233		(22,826)		(8,046)
Adjusted net income (loss)	$	7,077	$	(15,890)	$	(29,211)	$	(48,309)	$	(124,417)

(1)Reflects net income (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 the (provision) benefit for income taxes reflect the 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, 2024		Jun 30, 2024		Sep 30, 2023		Sep 30, 2024		Sep 30, 2023
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)	4.01	%	5.27	%	6.43	%	4.84	%	6.00	%
Effective income tax rate	25.01	%	26.27	%	27.43	%	25.84	%	27.00	%

(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, and gains (losses) from the sale of MSRs. Beginning in the second quarter of 2024, we began to include the gains (losses) from the sale of MSRs in valuation changes in servicing rights, net of hedging gains and losses to appropriately capture all valuation changes in MSRs up to and including the sales date. Prior periods have been revised to conform with this new presentation.

(4)Reflects employee severance expense and professional services associated with restructuring efforts subsequent to the announcement of Vision 2025 in July 2022.

(5)Represents expenses directly related to the Cybersecurity Incident, net of expected insurance recoveries, including costs to investigate and remediate the Cybersecurity Incident, the costs of customer notifications and identity protection, professional fees including legal expenses, litigation settlement costs, and commission guarantees. During the three months ended September 30, 2024, the Company recorded a $20.0 million receivable for reimbursement from its insurers. During the nine months ended September 30, 2024, the Company recorded $35.0 million for an insurance reimbursement and receivable, and an accrual of $25.0 million in connection with class action litigation related to the Cybersecurity Incident.

(6)Represents lease impairment on corporate and retail locations.

(7)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, 2024		Jun 30, 2024		Sep 30, 2023		Sep 30, 2024		Sep 30, 2023
Net income (loss) attributable to loanDepot, Inc.	$	1,369	$	(32,211)	$	(16,599)	$	(65,097)	$	(82,950)
Adjusted net income (loss)	7,077		(15,890)		(29,211)		(48,309)		(124,417)

Share Data:
Diluted weighted average shares of Class A and Class D common stock outstanding	332,532,984		182,324,046		175,962,804		183,041,489		173,568,986
Assumed pro forma conversion of weighted average Class C shares to Class A common stock (1)	—		142,907,533		147,171,089		142,333,213		148,741,661
Adjusted diluted weighted average shares outstanding	332,532,984		325,231,579		323,133,893		325,374,702		322,310,647

(1)Reflects the assumed pro forma exchange and conversion of anti-dilutive Class C common shares.


Reconciliation of Net Income (Loss) to Adjusted EBITDA (LBITDA) ($ in thousands) (Unaudited)	Three Months Ended						Nine Months Ended
	Sep 30, 2024		Jun 30, 2024		Sep 30, 2023		Sep 30, 2024		Sep 30, 2023
Net income (loss)	$	2,672	$	(65,853)	$	(34,262)	$	(134,685)	$	(175,743)
Interest expense - non-funding debt (1)	45,129		53,000		42,504		144,676		128,619
Income tax expense (benefit)	923		(11,304)		(5,205)		(24,040)		(28,622)
Depreciation and amortization	8,931		8,955		10,592		27,329		31,339
Valuation changes in servicing rights, net of hedging gains and losses(2)	14,901		12,617		(4,545)		35,546		10,457

Stock-based compensation expense	8,200		5,898		3,940		18,952		15,619

Restructuring charges(3)	1,853		3,127		2,007		7,105		8,357
Cybersecurity incident(4)	(18,880)		26,942		—		22,760		—

Loss (gain) on disposal of fixed assets	3		—		93		(25)		1,105

Other impairment(5)	10		1,193		129		1,202		470
Adjusted EBITDA (LBITDA)	$	63,742	$	34,575	$	15,253	$	98,820	$	(8,399)

(1)Represents other interest expense, which includes gain or loss on extinguishment of debt and amortization of debt issuance costs and debt discount, 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, and gains (losses) from the sale of MSRs. Beginning in the second quarter of 2024, we began to include the gains (losses) from the sale of MSRs in valuation changes in servicing rights, net of hedging gains and losses to appropriately capture all valuation changes in MSRs up to and including the sales date. Prior periods have been revised to conform with this new presentation.

(3)Reflects employee severance expense and professional services associated with restructuring efforts subsequent to the announcement of Vision 2025 in July 2022.

(4)Represents expenses, directly related to the Cybersecurity Incident, net of expected insurance recoveries, that occurred in the first quarter of 2024, including costs to investigate and remediate the Cybersecurity Incident, the costs of customer notifications and identity protection, professional fees including legal expenses, litigation settlement costs, and commission guarantees. During the three months ended September 30, 2024, the Company recorded a $20.0 million receivable for reimbursement from its insurers. During the nine months ended September 30, 2024, the Company recorded $35.0 million for an insurance reimbursement and receivable, and an accrual of $25.0 million in connection with class action litigation related to the Cybersecurity Incident.

(5)Represents lease impairment on corporate and retail locations.

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 Project North Star, our progress toward run-rate profitability, ongoing cost management and productivity programs, our HELOC product, financial condition and liquidity, competitive position, industry and regulatory environment, potential growth opportunities, the effects of competition, the impact of the Cybersecurity Incident, operations and financial performance. These forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and may contain the words “outlook,” “potential,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “predict,” “estimate,” “project,” “will be,” “will continue,” “will likely result,” or other similar words and phrases or future or conditional verbs such as “will,” “may,” “might,” “should,” “would,” or “could” and the negatives of those terms. 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 that are difficult to predict, including but not limited to, the following: our ability to achieve the expected benefits of Project North Star and the success of other business initiatives; 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; impacts of cybersecurity incidents, 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; our ability to reach a definitive settlement agreement related to the Cybersecurity Incident; adverse changes in macroeconomic and U.S residential real estate and mortgage market conditions, including changes in interest rates; 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, 2023, and Quarterly Reports on Form 10-Q as well as any subsequent filings with the Securities and Exchange Commission. Therefore, current plans, anticipated actions, and 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 leading provider of lending solutions that make the American dream of homeownership more accessible and achievable for all, especially the increasingly diverse communities of first-time homebuyers, through a broad suite of lending and real estate services that simplify one of life's most complex transactions. Since its launch in 2010, the company has been recognized as an innovator, using its industry-leading technology to deliver a superior customer experience. Our digital-first approach makes it easier, faster and less stressful to purchase or refinance a home. Today, as one of the largest non-bank lenders in the country, loanDepot and its mellohome operating unit offer an integrated platform of lending, loan servicing, real estate and home services that support customers along their entire homeownership journey. Headquartered in Southern California and with hundreds of local market offices nationwide, loanDepot’s passionate team is dedicated to making a positive difference in the lives of their customers every day.

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 2024 INVESTOR PRESENTATION November 7, 2024

DISCLAIMER 2 Forward-Looking Statements and Other Information This presentation may contain "forward-looking statements," which reflect loanDepot's current views with respect to, among other things, our business strategies, including Project North Star, our progress toward run-rate profitability, ongoing cost management and productivity programs, our HELOC product, financial condition and liquidity, competitive position, industry and regulatory environment, potential growth opportunities, the effects of competition, the impact of the Cybersecurity Incident, operations and financial performance. These forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and may contain the words “outlook,” “potential,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “predict,” “estimate,” “project,” “will be,” “will continue,” “will likely result,” or other similar words and phrases or future or conditional verbs such as “will,” “may,” “might,” “should,” “would,” or “could” and the negatives of those terms. 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 that are difficult to predict, including but not limited to, the following: our ability to achieve the expected benefits of Project North Star and the success of other business initiatives; 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; impacts of cybersecurity incidents, 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; our ability to reach a definitive settlement agreement related to the Cybersecurity Incident; adverse changes in macroeconomic and U.S residential real estate and mortgage market conditions, including changes in interest rates; 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, 2023, and Quarterly Reports on Form 10-Q as well as any subsequent filings with the Securities and Exchange Commission. Therefore, current plans, anticipated actions, and 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), and Adjusted EBITDA (LBITDA). We exclude from these non-GAAP financial measures the change in fair value of MSRs, gains (losses) from the sale of MSRs and related hedging gains and losses that represent realized and unrealized adjustments resulting from changes in valuation, mostly due to changes in market interest rates, and are not indicative of the Company’s operating performance or results of operation. Beginning in the second quarter of 2024, we began to include the gains (losses) from the sale of MSRs in valuation changes in servicing rights, net of hedging gains and losses to appropriately capture all valuation changes in MSRs up to and including the sales date. Prior periods have been revised to conform with this new presentation. We also exclude stock-based compensation expense, which is a non-cash expense, expenses directly related to the Cybersecurity Incident, net of expected insurance recoveries, including costs to investigate and remediate the Cybersecurity Incident, the costs of customer notifications and identity protection, professional fees, including legal expenses and litigation settlement costs, and commission guarantees, 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 well as certain costs associated with our restructuring efforts, 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.

We make the American Dream of home possible. Partnering with homeowners throughout the lifecycle of the homeownership journey. Finding An Agent Serving the Buyer First Time Homebuyer Veteran / Active Duty Move Up / Downsize Relocation Local referral Supporting The Purchase Servicing the Mortgage Optimizing the Journey Title Services Escrow/ Closing Homeowners Insurance Building Trust Continuing Customer Relationship Facilitate additional lending opportunities HELOC Closed-End Second Refinance 3 Managing the Home Solar Finance Home Security Home Renovation Solutions for Aging in Place

4 THIRD QUARTER FACT SHEET Financial Operational • Originations: $6.7 billion in funded volume, on the high-end third quarter 2024 guidance • Total Revenue: $314.6 million on $6.7 billion of pull-through weighted lock volume; Adjusted revenue of $329.5 million • Total Expenses: Increased by $5.9 million, or ~2% from the third quarter of 2023, primarily on higher volume and headcount related costs • 3Q24 expenses includes $18.9 million net benefit primarily associated with expected insurance proceeds related to settlement of cyber-related class-action litigation • Net Income of $2.7 million and adjusted net income of $7.1 million primarily reflects higher adjusted revenues from higher volume and gain on sale margins • Liquidity: Unrestricted cash of $483.0 million • Servicing: UPB increased from 2Q24 to $114.9 billion as portfolio units rebuild from retaining servicing on new originations • Announced Project North Star, the next step in our strategy to become the lending partner of choice for homeowners, with an emphasis on first-time homebuyers, across the lifecycle of homeownership. • Announces Ridgeland Mortgage joint venture with Smith Douglas Homes • Purchase Mix: 66% of total Originations, down from 72% second quarter 2024 due to strength in refi during the quarter • Organic Refinance Consumer Direct Recapture Rate(1): Increased to 71% for the quarter compared to 69% in third quarter 2023 • Unit Market Share: 175 basis points in third quarter 2024 vs. 181 basis points in third quarter 2023 • Purchase Unit Market Share: 130 basis points in third quarter 2024 vs. 135 basis points in second quarter 2024 and 130 basis points in third 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 presentation when external data becomes available

Completed Strategic Imperatives and Achieved Profitability Weather the storm & build the foundation VISION 2025 2022-2024 PROJECT NORTH STAR 2025-2027 Achieve Differentiation & Durable Business Model Pivot to first time home buyer, lifecycle relationship model supported by low-cost, high-quality operating model • Increased focus on purchase transactions while serving increasingly diverse communities across the country • Executed Growth Generating Initiatives • Centralized management of loan originations and loan fulfillment to enhance quality and effectiveness • Aggressively right sized cost structure • De-levered and initiated value creating capital allocation strategy • Made foundational investments to enable focus on first time home buyers and customer for life • Delivered profitability in 3Q24. • Become lending partner of choice for homeowners, with an emphasis on first time home buyers, through their homeownership journey • Develop and launch AI powered customer and relationship management and engagement platform • Allow customers to optimize their home buying, selling, equity optimization and home management experience • Expand purchase reach and capabilities • Expand geographic footprint and partnerships • Launch innovative solutions that form the foundation with first-time homebuyers and owners • Expand our mortgage servicing assets under management • Launch “low touch” automated data-driven loan processing workflow to drive quality and reduce turn around times • Expand operating leverage through focus on becoming lowest cost, highest quality producer to deliver consistent margins and profitability • Become employer of choice in the mortgage industry 5 PROJECT NORTH STAR

DIVERSE & EXPERIENCED MANAGEMENT TEAM WITH UNIQUE SKILLSETS President and CEO Dan BinowitzJeff Walsh President, LDI Mortgage Town & Country Credit Corp. Jeff DerGurahian Chief Investment Officer and Head Economist Chief Administrative Officer TJ Freeborn Chief Information Officer George Brady Frank Martell Managing Director Servicing 6 Gregg Smallwood Chief Legal Officer, Corporate Secretary Joe Grassi Chief Risk Officer Darren Graeler Chief Accounting Officer Melanie Graper Chief Human Resources Officer David Hayes Chief Financial Officer Viviana Abarca Managing Director Mortgage Lending Operations

loanDepot Historical Mortgage Origination Volume SCALED ORIGINATOR DELIVERING CUSTOMERS A COMPLETE SOLUTION Inception to Q3-2024 Origination CAGR: 22%(1) loanDepot Originations loanDepot Market Share $1.7 $2.3 $4.1 Total market volume ($ trillion) $4.0 $2.2 (1) CAGR includes annualized volume for 2010 Source: Historical market share based on MBA industry volume as of 10/27/2024 and historical loanDepot origination volume ($ 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 2022 To 2024 • 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 • Repositioned the Company for long term value creation • Purpose driven sustainable lending • Simplified operational structure and increased operating leverage • Maintained strong balance sheet liquidity • Additions to executive team to position company for next era • Launch of HELOC 7 Title Insurance Escrow Services Homeowners Insurance First Mortgage Home Equity Solutions $1.5 $1.6 Project North Star 2025+ • Become the lending partner of choice for homeowners • Expand our purchase channel reach • Expand our servicing business • Launch “low touch” automated data-driven processing workflow to drive best-in-class quality • Become employer of choice in the mortgage industry $33 $45 $101 $137 $54 $23 $23 2.0% 2.0% 2.5% 3.4% 2.4% 1.4% 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 2018 2019 2020 2021 2022 2023 LTM Q3 '24

ORIGINATION GROWTH RELATIVE TO INDUSTRY (1) Calculated as LDI origination volume, in dollars, divided by total mortgage originations, in dollars, for 1-4 family homes, as measured by MBA as of 10/27/2024 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 8 Purchase Mix % : ($ in billions) Total Market Share (%)(1) 34% 3.0% 2.9% 34% 37% 3.1% 59% 2.4% 2.1% 70% 1.6% 76% 1.7% 71% 1.5% 73% 71% 1.5% 76% 1.5% 72% 1.2% 72% 1.4% $30 $23 $20 $12 $9 $4 $5 $6 $6 $4 $5 $6 $7 $32 $29 $22 $16 $10 $6 $5 $6 $6 $5 $5 $6 $7 299 281 213 150 203 221 226 285 293 296 274 322 329 - 50 100 150 200 250 300 350 $0 $10 $20 $30 $40 $50 $60 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Pull-Through Weighted (PTW) Lock Volume Origination Volume PTW GOS Margin, bps 66% 1.4%

HISTORICAL COST STRUCTURE COMPARISON ($M) 9 Salaries Other Interest Marketing Commissions Other G&A FTEs Direct Origination Expense Expenses To Note: Restructuring Charges $2.0 $3.5 $2.1 $3.1 $1.9 Loss on Disposal of Fixed Assets and Other Impairments/(Recoveries) $0.2 $0.8 ($0.0) $1.2 $0.0 Accruals for Expected Legal Settlements (1) $2.0 $3.7 $1.1 ($0.8) $0.0 (Gain) Loss on Extinguishment of Debt ($1.7) $0.0 $0.0 $5.7 $0.0 Cybersecurity Incident(2) $0.0 $0.0 $14.7 $26.9 ($18.9) Total $2.5 $8.0 $17.9 $36.1 ($17.0) (1) Excluding Cybersecurity Incident-related (2) Represents expenses, directly related to the Cybersecurity Incident, net of expected insurance recoveries, that occurred in the first quarter of 2024, including costs to investigate and remediate the Cybersecurity Incident, the costs of customer notifications and identity protection, professional fees including legal expenses, litigation settlement costs, and commission guarantees. During the three months ended September 30, 2024, the Company recorded a $20 million receivable for reimbursement from its insurers. $97 $97 $98 $96 $107 $73 $81 $82 $97 $47 $43 $45 $47 $53 $45 $34 $28 $28 $31 $36 $44 $36 $36 $45 $54 $14 $15 $17 $20 $21 4,532 4,250 4,188 4,246 4,615 N on - V ol um e Re la te d V ol um e Re la te d N on - V ol um e Re la te d V ol um e Re la te d N on - V ol um e Re la te d V ol um e Re la te d N on - V ol um e Re la te d V ol um e Re la te d N on - V ol um e Re la te d V ol um e Re la te d Q3-2023 Q4-2023 Q1-2024 Q2-2024 Q3-2024

HISTORICAL SERVICING PORTFOLIO TREND 10 ($ 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, strats for agency (FHLMC, FNMA, GNMA) portfolio only. Excludes HELOC Total Serv Exp$ to Avg. UPB $, bps: Portfolio @ 9/30/24 (3) W.A. Coupon 3.73% W.A. FICO (3) 730 W.A. LTV 74% W.A. Age (Mths) 34.3 DQ Rate 60D+ 1.4% 90D+ 1.1% Composition GSE 56.5% Gov’t 34.1% Other 9.3% 67% 69% 2.0 71% 58% 1.9 67% 59% 2.2 68% 70% 2.0 $144 $145 $142 $114 $115 143 137 138 137 133 - 20 40 60 80 100 120 140 $50 $70 $90 $110 $130 $150 Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 UPB $ MSR FV, bps 61% 71% 2.6

$717 $661 $604 $533 $483 $4 $- $- $- $- $721 $661 $604 $533 $483 Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Unrestricted Cash Unused Lines STRONG LIQUIDITY AND BALANCE SHEET 11 Liquidity Overview ($M) Debt Obligations, net to Total Equity MSR FV / Total Equity 12% 11% 10% 9% 8% Liquidity / Total Assets 2.7x 2.8x 3.1x 2.7x 2.6x Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 2.9x 3.2x 3.6x 3.4x 3.3x Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24

12 Q4 2024 OUTLOOK* Metric Low High Pull-through Weighted Rate Lock Volume ($bn) $5.5 $7.5 Origination Volume ($bn) $6.0 $8.0 Pull-through Weighted GOS Margin, bps 285 305 Current Market Conditions • Higher interest rates and home price appreciation 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 home equity solutions • Industry beginning to invest in headcount and capacity on expectations of higher volumes *Q4 2024 outlook reflects current interest rate environment, seasonality, channel mix, and competitive pressures

APPENDIX

BALANCE SHEET & SERVICING PORTFOLIO HIGHLIGHTS 14 $ in MM except units and % 3Q ’24 2Q ’24 3Q ‘23 3Q’24 vs 2Q’24 3Q’24 vs 3Q’23 Cash and cash equivalents $483.0 $533.2 $717.2 (9.4%) (32.7%) Loans held for sale, at fair value 2,790.3 2,378.0 2,070.7 17.3% 34.8% Servicing rights, at fair value 1,542.7 1,583.1 2,053.4 (2.6%) (24.9%) Total assets 6,417.6 5,942.8 6,078.5 8.0% 5.6% Warehouse and other lines of credit 2,565.7 2,213.1 1,897.9 15.9% 35.2% Total liabilities 5,825.6 5,363.8 5,309.6 8.6% 9.7% Total equity 592.0 578.9 768.9 2.3% (23.0%) Servicing portfolio (unpaid principal balance) $114,915.2 $114,278.5 $143,959.7 0.6% (20.2%) Total servicing portfolio (units) 409,344 403,302 490,191 1.5% (16.5%) 60+ days delinquent ($) $1,655.0 $1,457.1 $1,235.4 13.6% 34.0% 60+ days delinquent (%) 1.4% 1.3% 0.9% N/A N/A Servicing rights, net to UPB 1.3% 1.4% 1.4% N/A N/A

NON-GAAP FINANCIAL RECONCILIATION 15 ($MM) 3Q ‘24 2Q ‘24 3Q ’23 Adjusted Revenue Total Net Revenue $314.6 $265.4 $265.7 Valuation changes in in Servicing Rights, Net of Hedge 14.9 12.6 (4.5) Adjusted Total Revenue $329.5 $278.0 261.1 Net (Loss) Income $2.7 ($65.9) ($34.3) Interest Expense - Non-Funding Debt 45.1 53.0 42.5 Income Tax (Benefit) Expense 0.9 (11.3) (5.2) Depreciation and Amortization 8.9 9.0 10.6 Valuation changes in in Servicing Rights, Net of Hedge 14.9 $12.6 (4.5) Stock-Based Compensation Expense 8.2 5.9 3.9 Restructuring Charges 1.9 3.1 2.0 Cyber Incident (1) (18.9) 26.9 0.0 (Gain) Loss on Disposal of Fixed Assets 0.0 0.0 0.1 Other impairment (recovery) 0.0 1.2 0.1 Adjusted EBITDA $63.7 $34.6 $15.3 (1) Represents expenses directly related to the Cybersecurity Incident, net of expected insurance recoveries, including costs to investigate and remediate the Cybersecurity Incident, the costs of customer notifications and identity protection, professional fees including legal expenses, litigation settlement costs, and commission guarantees. During the three months ended September 30, 2024, the Company recorded a $20.0 million receivable for reimbursement from its insurers. During the nine months ended September 30, 2024, the Company recorded $35.0 million for an insurance reimbursement and receivable, and an accrual of $25.0 million in connection with class action litigation related to the Cybersecurity Incident.

NON-GAAP FINANCIAL RECONCILIATION (CONT’D) 16 ($MM) 3Q ‘24 2Q ’24 3Q ’23 Net Income (Loss) $2.7 ($65.9) ($34.3) Adjustments to Income Taxes (0.3) 8.8 4.8 Tax-Effected Net Income (Loss) $2.3 ($57.0) ($29.4) Valuation changes in in Servicing Rights, Net of Hedge 14.9 12.6 (4.5) Stock-Based Compensation Expense 8.2 5.9 3.9 Restructuring Charges 1.9 3.1 2.0 Cyber Incident (18.9) 26.9 0.0 (Gain) Loss on Extinguishment of Debt 0.0 5.7 (1.7) (Gain) Loss on Disposal of Fixed Assets 0.0 0.0 0.1 Other (Recovery) Impairment 0.0 1.2 0.1 Tax Effect of Adjustments (1.4) (14.3) 0.2 Adjusted Net Income (Loss) $7.1 ($15.9) ($29.2)

Cover	Nov. 05, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Nov. 05, 2024
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