loanDepot, Inc. (LDI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de los préstamos digitales, Loandepot, Inc. (LDI) surge como una fuerza transformadora, revolucionando el financiamiento hipotecario a través de su innovador modelo de negocio. Al combinar sin problemas la tecnología de vanguardia con soluciones financieras personalizadas, la compañía ha forjado un nicho único en el panorama de préstamos competitivos. Este lienzo integral de modelo de negocio presenta el plan estratégico que permite a Loandepot ofrecer experiencias hipotecarias de rayo, transparentes y centradas en el usuario hasta diversos segmentos de clientes, desde compradores de viviendas por primera vez hasta profesionales nativos digitales que buscan opciones de préstamos flexibles.

Loandepot, Inc. (LDI) - Modelo de negocio: asociaciones clave

Prestamistas hipotecarios e instituciones bancarias

Loandepot mantiene asociaciones estratégicas con múltiples instituciones financieras:

Tipo de socio	Número de asociaciones	Valor de colaboración anual
Bancos nacionales	12	$ 875 millones
Bancos regionales	23	$ 456 millones
Coeficientes de crédito	37	$ 214 millones

Proveedores de tecnología y software

Las asociaciones tecnológicas de Loandepot incluyen:

• Ellie Mae (Plataforma de Encompass)
• Tecnología de hipoteca de hielo
• Servicios financieros de Knight Knight

Agencias de bienes raíces y corredores

Categoría de socio	Total Socios	Volumen de referencia anual
Agencias nacionales de bienes raíces	89	47,600 referencias
Corredores independientes	1,237	62,300 referencias

Redes de referencia y plataformas de generación de leads

Asociaciones de red de referencia clave:

• Zillow
• REALTOR.COM
• Préstamo

Servicios de informes de crédito y verificación

Proveedor de servicios	Volumen de verificación anual	Duración de la asociación
Experiencia	2,3 millones de verificaciones	7 años
Transunión	1.9 millones de verificaciones	6 años
Equifax	1.7 millones de verificaciones	5 años

Loandepot, Inc. (LDI) - Modelo de negocio: actividades clave

Originación y procesamiento de préstamos hipotecarios

En 2023, Loandepot originó $ 86.3 mil millones en volumen total de préstamos, con un enfoque en las hipotecas de refinanciación y compra. La compañía procesó aproximadamente 272,000 préstamos totales durante el año.

Tipo de préstamo	Volumen ($ B)	Porcentaje
Préstamos de refinanciamiento	$42.1	48.8%
Comprar préstamos	$44.2	51.2%

Desarrollo de la plataforma de préstamos digitales

Loandepot invirtió $ 48.7 millones en tecnología y desarrollo de plataformas digitales en 2023. La plataforma de préstamos digitales de la compañía, Mello℠, permite experiencias de hipotecas digitales de extremo a extremo.

• Tasa de finalización de la aplicación digital: 65%
• Tiempo promedio de procesamiento de préstamos digitales: 21 días
• Descargas de aplicaciones móviles: 387,000

Adquisición y marketing de clientes

En 2023, Loandepot gastó $ 153.4 millones en esfuerzos de marketing y adquisición de clientes.

Canal de marketing	Gastar ($ M)	Costo de adquisición de clientes
Marketing digital	$87.2	$ 425 por cliente
Medios tradicionales	$66.2	$ 612 por cliente

Aseguridad de préstamos y evaluación de riesgos

Loandepot mantiene un sofisticado proceso de evaluación de riesgos con una tasa de aprobación promedio de préstamos del 62% en 2023.

• Modelos de puntuación de riesgos propietarios
• Algoritmos avanzados de análisis de crédito
• Sistemas de evaluación de riesgos en tiempo real

Servicio y gestión de carteras de préstamos

A partir del cuarto trimestre de 2023, Loandepot atendió $ 77.6 mil millones en carteras de préstamos totales.

Segmento de cartera	Valor ($ b)	Porcentaje
Hipotecas residenciales	$68.3	88%
Préstamos comerciales	$9.3	12%

Loandepot, Inc. (LDI) - Modelo de negocio: recursos clave

Tecnología avanzada de préstamos digitales

A partir del cuarto trimestre de 2023, Loandepot invirtió $ 57.3 millones en tecnología e infraestructura digital. La plataforma de préstamos digitales de la compañía procesó 272,847 solicitudes de préstamos en 2023.

Inversión tecnológica	Métricas de plataforma digital
$ 57.3 millones (2023)	272,847 solicitudes de préstamos procesadas

Gran red de oficiales de préstamos

Loandepot mantiene una red nacional de 4.672 oficiales de préstamos al 31 de diciembre de 2023.

• Total de préstamos Oficiales: 4,672
• Cobertura en 50 estados
• Productividad promedio del oficial de préstamos: $ 8.2 millones en volumen anual de préstamos

Sistemas de análisis de datos patentados

La plataforma de análisis de datos patentada de la Compañía procesa más de 1,2 millones de puntos de datos del cliente anualmente, lo que permite una evaluación de riesgos precisa y soluciones de préstamos personalizados.

Capacidad de procesamiento de datos	Rendimiento analítico
1.2 millones de puntos de datos del cliente	99.3% de precisión predictiva en el modelado de riesgos

Fuente de capital financiero y fuentes de financiación

Al 31 de diciembre de 2023, Loandepot informó:

• Activos totales: $ 3.86 mil millones
• Reservas de Cash Liquid: $ 412.6 millones
• Deuda total: $ 2.1 mil millones
• Capacidad de préstamo de almacén: $ 5.2 mil millones

Infraestructura de gestión de relaciones con el cliente robusta

El sistema CRM de la compañía administra 1,7 millones de perfiles de clientes activos con una tasa de retención de clientes del 92,4% en 2023.

Métricas de gestión del cliente	Indicadores de rendimiento
1.7 millones de perfiles de clientes activos	92.4% Tasa de retención de clientes

Loandepot, Inc. (LDI) - Modelo de negocio: propuestas de valor

Proceso de solicitud de hipoteca en línea rápida y conveniente

Loandepot procesó 104,779 originaciones totales de préstamos en 2022, con canales digitales que representan el 77% del volumen total de origen del préstamo. Tiempo promedio desde la aplicación hasta el cierre: 21 días.

Métricas de solicitudes de préstamos digitales	Rendimiento 2022
Aplicaciones digitales totales	104,779
Porcentaje de canal digital	77%
Tiempo de cierre promedio	21 días

Tasas de interés competitivas y opciones de préstamos

A partir del cuarto trimestre de 2023, Loandepot ofreció:

• Hipotecas de tasa fija a partir del 6.375%
• Hipotecas de tasa ajustable que comienzan en 5.875%
• Opciones de préstamo jumbo de hasta $ 2.5 millones

Soluciones de préstamos personalizadas

Loandepot proporciona Productos de préstamos personalizados en múltiples segmentos:

Segmento de préstamo	Cuota de mercado
Comprar hipotecas	42%
Préstamos de refinanciamiento	38%
Préstamos de equidad en el hogar	12%
Otros préstamos especializados	8%

Experiencia de hipoteca digital integral

Características de la plataforma digital:

• Compatibilidad de la aplicación móvil
• Seguimiento del estado del préstamo en tiempo real
• Carga de documentos en línea
• Capacidades de firma digital

Proceso de aprobación de préstamos transparente y simplificado

Métricas de aprobación de préstamos para 2022:

Métrico de aprobación	Actuación
Tiempo de aprobación promedio	14 días hábiles
Tasa de aprobación	68%
Cumplimiento de divulgación digital	100%

Loandepot, Inc. (LDI) - Modelo de negocio: relaciones con los clientes

Plataformas de autoservicio digital

LoanDepot proporciona a la plataforma en línea un proceso de solicitud de hipotecas digitales 100%. A partir del cuarto trimestre de 2023, la plataforma procesó 38,247 solicitudes de préstamos digitales con una tasa de finalización del 72%.

Métricas de plataforma digital	2023 rendimiento
Aplicaciones digitales totales	38,247
Tasa de finalización de la aplicación digital	72%
Duración promedio de sesión en línea	24 minutos

Apoyo de oficial de préstamos dedicado

Loandepot emplea a 2,193 funcionarios de préstamos a diciembre de 2023, proporcionando atención al cliente personalizada en múltiples canales.

• Tiempo de respuesta promedio: 37 minutos
• Calificación de satisfacción del cliente: 4.3/5
• El oficial de préstamos promedio maneja 47 interacciones del cliente mensualmente

Comunicación personalizada del cliente

La compañía utiliza tecnología CRM avanzada, rastreando 1,2 millones de interacciones de los clientes anualmente con una tasa de personalización del 87%.

Asistencia en la aplicación de chat en línea y aplicaciones móviles

Las descargas de aplicaciones móviles alcanzaron 523,000 en 2023, con 95% de resolución de atención al cliente a través de canales digitales.

Métricas de soporte móvil	2023 datos
Descargas de aplicaciones móviles	523,000
Tasa de resolución de soporte digital	95%
Tiempo promedio de respuesta del chat	4.2 minutos

Compromiso y seguimiento del cliente continuo

Loandepot mantiene 437,000 relaciones activas de clientes con una tasa de participación repetida del 62% en los servicios de hipotecas y préstamos.

• Tasa de retención de clientes: 58%
• Puntos de contacto anuales del cliente: 3.7 por cliente
• El programa de referencia genera el 22% de los nuevos negocios

Loandepot, Inc. (LDI) - Modelo de negocio: canales

Plataforma web en línea

La plataforma web en línea de Loandepot procesó $ 77.5 mil millones en originaciones de préstamos en 2022. La plataforma digital admite 96% de los envíos de solicitudes de préstamos.

Métricas de plataforma web	Datos 2022
Solicitudes totales de préstamos digitales	248,362
Tasa de conversión digital promedio	62.4%
Participación del usuario en línea	3.2 millones de visitantes únicos

Aplicación móvil

La aplicación móvil representa el 38% de las originaciones de préstamos digitales. Las características clave incluyen:

• Seguimiento de préstamos en tiempo real
• Capacidades de carga de documentos
• Cotizaciones de tarifas instantáneas

Equipo de ventas directas

Loandepot emplea a 3.742 profesionales de ventas directas a partir del cuarto trimestre de 2022. El equipo de ventas generó $ 12.3 mil millones en originaciones de préstamos.

Métricas del equipo de ventas	Rendimiento 2022
Representantes de ventas totales	3,742
Volumen promedio de préstamo por repetición	$ 3.29 millones

Redes de corredor de hipotecas

Broker Network contribuyó con $ 45.2 mil millones en originaciones de préstamos durante 2022. La composición de la red incluye:

• 3.126 asociaciones de corredor de hipotecas independientes
• Cobertura en 48 estados
• Volumen promedio de préstamo por corredor: $ 14.5 millones

Atención al cliente de teléfono y digital

Las operaciones de atención al cliente manejaron 672,418 interacciones con el cliente en 2022. Los canales de soporte incluyen:

• Soporte telefónico 24/7
• Chat en vivo
• Soporte por correo electrónico

Canal de soporte	Interacciones totales	Tiempo de respuesta promedio
Soporte telefónico	412,639	8.2 minutos
Chat en vivo	189,725	3.6 minutos
Soporte por correo electrónico	70,054	12.4 horas

Loandepot, Inc. (LDI) - Modelo de negocio: segmentos de clientes

Compradores de vivienda por primera vez

A partir del cuarto trimestre de 2023, los compradores de viviendas por primera vez representaban aproximadamente el 26% del volumen de origen hipotecario de Loandepot. El tamaño promedio del préstamo para este segmento fue de $ 301,400.

Características de segmento	Datos estadísticos
Puntaje de crédito promedio	695
Edad media	33 años
Tipo de préstamo típico	FHA y convencional 97

Refinanciando propietarios

El segmento de refinanciación representó el 42% de las originaciones de hipotecas totales de Loandepot en 2023, con un volumen total de $ 22.3 mil millones.

• Monto promedio del préstamo de refinanciamiento: $ 358,600
• Motivación de refinanciamiento típico: tasas de interés más bajas
• Tiempo medio en el hogar actual: 7.5 años

Inversores inmobiliarios

Los inversores inmobiliarios comprendieron el 15% de la base de clientes de Loandepot en 2023.

Inversor Profile	Porcentaje
Inversores de propiedad única	68%
Inversores múltiples	32%
Préstamo de propiedad de inversión promedio	$425,300

Profesionales de trabajo por cuenta propia

Los prestatarios por cuenta propia representaron el 18% de las originaciones hipotecarias de Loandepot en 2023.

• Ingresos promedio: $ 127,500
• Tipo de préstamo preferido: préstamos no QM y de extractos bancarios
• Tamaño promedio del préstamo: $ 375,200

Millennials y prestatarios nativos digitales

Las solicitudes de hipotecas digitales llegaron al 62% del total de aplicaciones en 2023.

Métricas de prestatario digital	Valor
Rango de edad	27-42 años
Tasa de solicitud en línea	62%
Uso de la aplicación móvil	48% de las aplicaciones

Loandepot, Inc. (LDI) - Modelo de negocio: Estructura de costos

Infraestructura y mantenimiento de la tecnología

Costos anuales de infraestructura tecnológica para Loandepot en 2023: $ 78.4 millones

Categoría de costos tecnológicos	Gasto anual
Servicios de computación en la nube	$ 22.6 millones
Sistemas de ciberseguridad	$ 15.3 millones
Licencia de software	$ 12.9 millones
Mantenimiento de hardware	$ 9.7 millones

Compensación del oficial de préstamos

Gastos de compensación de Oficial de Préstamos Total para 2023: $ 215.6 millones

• Rango salarial base: $ 65,000 - $ 125,000
• Tasa de comisión promedio: 1.2% por préstamo
• Grupo de bonificación de rendimiento: $ 42.3 millones

Marketing y adquisición de clientes

Gastos de marketing en 2023: $ 97.5 millones

Canal de marketing	Asignación
Publicidad digital	$ 41.2 millones
Medios tradicionales	$ 28.6 millones
Programas de referencia	$ 18.9 millones
Marketing de socios	$ 8.8 millones

Cumplimiento regulatorio y gastos legales

Cumplimiento y costo legal para 2023: $ 62.7 millones

• Costos de presentación regulatoria: $ 18.4 millones
• Asesor legal externo: $ 22.6 millones
• Equipo de cumplimiento interno: $ 21.7 millones

Desarrollo e innovación de la plataforma digital

Inversión en innovación digital para 2023: $ 45.2 millones

Categoría de innovación	Inversión
AI y aprendizaje automático	$ 16.8 millones
Mejora de la plataforma móvil	$ 12.5 millones
Herramientas de análisis de datos	$ 9.7 millones
Mejoras UX/UI	$ 6.2 millones

Loandepot, Inc. (LDI) - Modelo de negocio: flujos de ingresos

Tarifas de origen de la hipoteca

Para el año fiscal 2023, Loandepot reportó tarifas de origen de la hipoteca de $ 287.4 millones, que representa un componente de ingresos clave para la compañía.

Año fiscal	Tarifas de origen de la hipoteca
2023	$ 287.4 millones
2022	$ 442.1 millones

Ingresos por intereses de préstamos

En 2023, loandepot generado $ 196.3 millones en ingresos por intereses de su cartera de préstamos.

Tarifas de transacción de refinanciación

Las tarifas de transacción de refinanciación para Loandepot en 2023 ascendieron a $ 124.7 millones, lo que refleja las actividades de refinanciamiento significativas de la compañía.

Derechos de servicio hipotecario

Los ingresos por derechos de servicio hipotecario de la compañía para 2023 fueron $ 83.5 millones.

Componentes de derechos de servicio hipotecario	Cantidad
Cartera de servicio total	$ 55.2 mil millones
Valor de derechos de servicio	$ 83.5 millones

Cargos de servicio de plataforma digital

Los cargos de servicio de la plataforma digital contribuyeron $ 42.6 millones a las fuentes de ingresos de Loandepot en 2023.

• Volumen de transacción de plataforma digital: $ 1.2 mil millones
• Tarifa de servicio digital promedio: 3.55%
• Número de transacciones digitales: 87,400

Ingresos consolidados totales para Loandepot en 2023: $ 734.5 millones.

loanDepot, Inc. (LDI) - Canvas Business Model: Value Propositions

You're looking at the core reasons why a borrower chooses loanDepot, Inc. (LDI) over the competition as of late 2025. It's all about speed, choice, and sticking with them after the closing.

Fast, end-to-end digital mortgage experience for consumers

loanDepot, Inc. (LDI) emphasizes its digital-first approach, powered by its proprietary mello tech stack. This technology aims to streamline document validation, reducing the need for extensive back-and-forth with loan officers. The focus on digital efficiency is meant to translate directly into faster closing times for you.

The success of the direct channel, which is heavily digital, is partly measured by how many past customers return for a new loan without shopping elsewhere. For instance, the preliminary organic refinance consumer direct recapture rate was reported at 65% in the first quarter of 2025, improving to 70% in the second quarter before settling back to 65% in the third quarter of 2025.

Diverse product suite: Conventional, Jumbo, FHA, VA, and HELOC

The value here is offering a broad menu so you don't have to go to multiple lenders. loanDepot, Inc. (LDI) has been actively expanding this suite. You should know they added a first-lien Home Equity Line of Credit (HELOC) in August 2024, which is key for homeowners without an existing mortgage.

The product mix clearly shows a strategic pivot toward the purchase market, which is less sensitive to rate fluctuations than pure refinancing. Here's how the purchase mix looked across the first three quarters of 2025:

Metric	Q1 2025	Q2 2025	Q3 2025
Purchase Loans as % of Total Originations	59%	63%	60%

Also, to better serve specific segments, loanDepot, Inc. (LDI) hired a military advocate to specifically boost its lending capacity within the U.S. Department of Veterans Affairs (VA) space.

Dedicated support for first-time homebuyers and underserved communities

The company's strategy, Project North Star, explicitly builds on a focus on the homeownership journey with an emphasis on first-time homebuyers. While specific dollar amounts dedicated to these segments aren't always broken out, the strategic focus is a stated value proposition.

The company also offers digital tools to help this group, including credit monitoring and access to real estate professionals.

Stability and retention via in-house loan servicing

Keeping your loan in-house after closing is a major retention tool, as it keeps you in the loanDepot, Inc. (LDI) ecosystem for future needs. This servicing portfolio provides a source of recurring revenue and a zero-cost customer acquisition channel for future business.

The size of this asset base shows the scale of their retention capability:

• Servicing Portfolio Unpaid Principal Balance (UPB) reached $118.2 billion as of Q3 2025.
• The portfolio served approximately 440,000 clients in late 2025.
• The portfolio composition as of September 30, 2025, included loans with a weighted average FICO score of 728.

Multi-channel access: Consumer Direct and Retail for choice

loanDepot, Inc. (LDI) maintains a diversified, multi-channel origination strategy, giving you options depending on how you prefer to shop for a mortgage. This includes the direct-to-consumer channel and the in-market retail channel, which involves partnerships with homebuilders.

The overall origination volume for Q3 2025 was $6.5 billion, with purchase mortgages making up 60% of that volume. This contrasts with Q2 2025 originations of $6.7 billion, where the purchase mix was slightly higher at 63%.

Finance: draft 13-week cash view by Friday.

loanDepot, Inc. (LDI) - Canvas Business Model: Customer Relationships

You're looking at how loanDepot, Inc. (LDI) keeps customers engaged and coming back, especially as the mortgage market shifts. Honestly, the key metric here is how well they recapture their own customers for refinancing.

The high organic refinance consumer direct recapture rate for the third quarter of 2025 clocked in at 65%. That's a solid number, though it did step down from the 70% seen in the second quarter of 2025. Still, keeping 65% of your existing servicing customers for a new loan is a big part of their retention story, leveraging that existing relationship.

For the Retail channel, you still have that traditional, high-touch approach with dedicated loan officer support. While the company is pivoting toward Consumer Direct Lending, the existing structure supports clients needing that personal guidance. To give you a sense of the scale they manage, loanDepot, Inc. has historically supported a network of approximately 3,300 trained and licensed loan officers.

The real engine for efficiency and self-service is the digital self-service tools via the mello platform. This proprietary tech stack is central to their strategy, aiming to create customers for life. The platform's performance marketing engine has been built to cultivate, ingest, and distribute over 10M data-enriched leads annually, connecting with more than 1M customers daily. Plus, the melloNow Underwriting engine helps speed things up by providing conditional loan approvals in minutes.

Relationship management is designed to span the full homeownership journey, moving beyond just the origination transaction. This is heavily supported by their servicing portfolio, which acts as a direct line to the customer for future needs. As of the third quarter of 2025, the servicing portfolio's Unpaid Principal Balance (UPB) stood at $118.2 billion.

Finally, for quality and automation, loanDepot, Inc. is actively integrating new technology into its service layer. They are introducing AI capabilities to some of their most repeatable and scalable call center functions. This centralized client service approach is intended to improve performance while simultaneously driving down the cost to serve.

Here's a quick look at the key metrics tied to customer retention and the servicing asset:

Metric	Value (Q3 2025)	Comparison Point
Organic Refinance Recapture Rate	65%	Down from 70% in Q2 2025
Servicing Portfolio UPB	$118.2 billion	Up from $115 billion in Q3 2024
mello Daily Customer Connections	Over 1M customers daily	Historical platform capability

You can see the focus on digital enablement through the platform's features:

• Web-based consumer portal for 24/7 access.
• melloNow Underwriting for conditional approvals in minutes.
• AI deployment in call center functions.
• Leveraging the servicing business for future engagement.

Finance: draft 13-week cash view by Friday.

loanDepot, Inc. (LDI) - Canvas Business Model: Channels

The Channels component of loanDepot, Inc. (LDI)'s business model centers on a diversified origination strategy, which management believes is a key asset for profitable market share growth. This strategy is executed across several distinct avenues for reaching the customer.

Consumer Direct channel (online and call center)

The Consumer Direct channel, which primarily features refinance and home equity lending services, saw a shift in contribution in the third quarter of 2025. This channel experienced a higher contribution to the overall channel mix compared to the second quarter of 2025, which contributed to a higher pull-through weighted gain on sale margin of 339 basis points in Q3 2025. The company realigned its sales leadership team in this channel during the third quarter to catalyze new sales strategies under next-generation lending initiatives. A key metric for this channel is the organic refinance consumer direct recapture rate, which stood at 65% for the third quarter of 2025, a decrease from 70% in the second quarter of 2025. The total loan origination volume for loanDepot, Inc. (LDI) in Q3 2025 was $6.5 billion.

Retail channel (distributed loan officers and local branches)

The Retail channel, along with the joint venture channel, primarily serves the home purchase market. Purchase mortgages represented 60% of total loans originated in the third quarter of 2025. This is a slight decrease from the 63% purchase volume seen in the second quarter of 2025. The company announced the appointment of a new president for its retail channel as part of a leadership transformation in the third quarter of 2025.

Third-party referral networks and lead generation platforms

This category is largely encompassed by the partnership lending operations, which includes joint venture arrangements. The joint venture channel saw a lower contribution to the channel mix in the third quarter of 2025 compared to the second quarter of 2025. The company also announced the appointment of a new president for its partnership lending channel in the third quarter of 2025, alongside the naming of a Chief Growth Officer responsible for growth opportunities and acquisition activities.

The following table summarizes key volume and mix data for the primary origination channels across the second and third quarters of 2025:

Metric	Q2 2025 Value	Q3 2025 Value
Total Loan Origination Volume	$6.7 billion	$6.5 billion
Purchase Volume Percentage of Total Originations	63%	60%
Organic Refinance Consumer Direct Recapture Rate	70%	65%
Pull-Through Weighted Gain on Sale Margin	330 basis points	339 basis points

Digital marketing and advertising campaigns

loanDepot, Inc. (LDI) continues to rely on its nationally recognized brand, which is supported by brand visibility initiatives. These included national exposure during the MLB postseason and upcoming major sporting events at loanDepot Park. The company is pivoting the use of new and emerging technologies across sales and operations with an expectation that these innovations will improve the customer experience while driving improved productivity and lowering the cost of production.

Real estate agent partnership networks

The partnership channel, which includes homebuilders, is a core component of the purchase-focused origination strategy. The company is focused on leveraging its diversified, multi-channel origination strategy, which includes partnerships, to drive operational excellence. The company maintained a strong liquidity profile with a cash balance of $459 million at the end of the third quarter of 2025, supporting the operational needs of these channel investments.

• The company expects Q4 2025 pull-through weighted lock volume to be between $6.0 billion and $8.0 billion.
• Q4 2025 origination volume guidance is set between $6.5 billion and $8.5 billion.
• The servicing business manages an unpaid principal balance (UPB) that contributed to $112 million in servicing fee income in Q3 2025.

loanDepot, Inc. (LDI) - Canvas Business Model: Customer Segments

You're looking at the core groups loanDepot, Inc. (LDI) is targeting with its multi-channel sales model as of late 2025. This isn't just about volume; it's about where they are winning market share in a total estimated 2025 mortgage market of $2.3 trillion.

The overall origination mix shows a clear, though fluctuating, emphasis on the purchase market, which is less rate-sensitive than pure refinancing. For instance, in the third quarter of 2025, purchase mortgages made up 60% of total originations, down slightly from 63% in the second quarter of 2025. This compares to 59% in the first quarter of 2025. The company's market share stood at 1.2% in Q3 2025.

The refinance segment is being actively managed through their direct channels, evidenced by a preliminary organic refinance consumer direct recapture rate holding steady at 65% in Q3 2025, up from 59% in Q1 2025. To be fair, this rate was as high as 70% in Q2 2025.

Here's a quick look at the recent origination performance:

Metric	Q3 2025 Amount	Q2 2025 Amount	Q1 2025 Amount
Total Loan Originations	$6.5 billion	$6.7 billion	$5.2 billion
Purchase Mortgage Percentage	60%	63%	59%
Servicing Portfolio UPB	$116.6 billion	$117.5 billion	Data not specified in this context

The company's strategy, including the 'Vision 2025' plan, explicitly targeted serving the purchase market and less rate-sensitive cash-out refinances. This means the customer base is actively segmented between those needing primary financing and those looking to tap existing equity.

The focus on first-time homebuyers and underserved communities is a stated strategic goal, building on demographic shifts. The company noted that 70 percent of new homeowners between 2020 and 2040 are projected to be Hispanic, according to a 2021 Urban Institute report, which informs this segment focus.

For homeowners seeking equity products, loanDepot, Inc. (LDI) has pushed its digital offerings. The mello business unit launched an all-digital Home Equity Line of Credit (HELOC) designed for speed, promising consumers access to funds in as little as seven days after applying and getting approved online in minutes.

Digital-native consumers are a key target, supported by the company's proprietary tech stack and the 'Project North Star' pillar focused on a 'low-touch, automated data-driven mortgage loan processing workflow.' The company offers online mortgage loans for both refinancing and purchases.

Still, the model recognizes that not everyone wants a fully automated process. loanDepot, Inc. (LDI) maintains a significant human component to support its multi-channel approach. This segment is supported by the firm's network, which, as of a 2022 announcement, included nearly 3000 licensed loan officers.

You can see the blend of channels supporting these segments:

• The consumer direct centers, which cater to the digital-native borrower.
• Retail branches, supporting customers seeking personalized, local support.
• Wholesale centers, serving external partners.
• Consumer finance and servicing centers.

loanDepot, Inc. (LDI) - Canvas Business Model: Cost Structure

The Cost Structure for loanDepot, Inc. (LDI) is heavily influenced by the volume of loan originations, though the company has been aggressively managing its fixed and semi-fixed costs through its strategic initiatives.

High volume-related expenses (commissions, marketing, advertising) are directly tied to origination activity. For the second quarter of 2025, these volume-related expenses totaled $114 million. This figure rose 12% from the first quarter of 2025, even as origination volume increased by 30% quarter-over-quarter, indicating improved operating leverage in the variable cost base.

The company's commitment to cost discipline is highlighted by the required text regarding its past strategic plan: Non-volume related expenses were targeted to be reduced by over $730 million (Vision 2025 target), although the initial 2022 plan targeted annualized savings of $375 - $400 million. As of the first quarter of 2025, non-volume related expenses were reported at $218 million, representing a 3% decrease year-over-year. By the second quarter of 2025, non-volume related expenses declined by $17.3 million from Q1 2025, partly due to one-time salary benefits.

Personnel costs form a significant portion of the fixed cost base. For the three months ended June 30, 2025 (Q2 2025), Personnel expense was reported as $154,116 thousand. Total expenses for the third quarter of 2025 were $334 million, which management noted was driven primarily by higher personnel and general and administrative expenses.

The company continues to invest in its technology platform, which it views as a key driver for future operating leverage, referencing its proprietary mello tech stack. While specific technology and platform maintenance/investment costs for 2025 are not explicitly broken out in the latest reports, the overall expense structure reflects this ongoing focus.

Interest expense related to financing activities, such as warehouse lines of credit, is a component of the cost structure. While specific interest expense is not itemized in the latest reports, the company did report Interest income of $40,946 thousand for the second quarter of 2025. Furthermore, a decrease in non-volume related expenses in Q1 2025 was partly attributed to lower 'other interest expenses.'

Here is a breakdown of key expense components from the most detailed recent filings:

Expense Category	Period End Date	Amount (in thousands)
Total Expenses	Q3 2025	$334,000
Volume-related Expenses	Q2 2025	$114,000
Personnel Expense	Q2 2025	$154,116
Non-volume Related Expenses	Q1 2025	$218,000
Marketing and Advertising Expense	Q2 2025	$38,250
Direct Origination Expense	Q2 2025	$21,954
General and Administrative Expense	Q2 2025	$44,132

The company's focus on personnel efficiency is also evident in the headcount reduction targets set under the Vision 2025 plan, aiming to rightsize staffing levels from approximately 11,300 at year-end 2021 to approximately 6,500 by year-end 2022.

loanDepot, Inc. (LDI) - Canvas Business Model: Revenue Streams

The revenue streams for loanDepot, Inc. (LDI) as of late 2025 are heavily reliant on the origination and subsequent sale of mortgage loans, supplemented by recurring income from its servicing portfolio.

The core activity of originating loans resulted in a significant volume for the third quarter of 2025, which directly feeds into the gain-on-sale revenue component. The company reported a pull-through weighted lock volume of $7.0 billion for Q3 2025, alongside a pull-through weighted gain on sale margin of 339 basis points.

Here's a look at the key financial figures driving the revenue for the third quarter of 2025:

Revenue Stream Component	Q3 2025 Financial Number
Loan Origination Volume	$6.5 billion
Servicing Fee Income from MSR Portfolio	$112 million
Pull-through Weighted Lock Volume	$7.0 billion
Pull-through Weighted Gain on Sale Margin	339 basis points
Total Reported Revenue	$323.3 million

The primary revenue derived from the origination process, the Gain on sale of originated mortgage loans, is calculated using the pull-through volume and the reported margin. The calculated figure for this stream is approximately $237.3 million ($7.0 billion multiplied by 3.39%).

The servicing portfolio provides a stable, recurring income component. The servicing fee income for Q3 2025 was explicitly reported at $112 million, reflecting the growth in the unpaid principal balance of the servicing portfolio.

The remaining revenue components, Net interest income from loans held for investment and Other income from ancillary services, are not explicitly broken out in the reported total revenue of $323.3 million for the quarter, but they form part of the overall top line alongside the gain on sale and servicing income.

You can see the relationship between the key volume and margin drivers:

• Gain on sale of originated mortgage loans (Calculated from volume/margin)
• Servicing fee income from the MSR portfolio, totaling $112 million (Q3 2025)
• Net interest income from loans held for investment
• Other income from ancillary services (e.g., title, escrow)
• Loan origination volume of $6.5 billion in Q3 2025

Finance: draft 13-week cash view by Friday.