Loandepot, Inc. (LDI): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico dos empréstimos digitais, a Loandepot, Inc. (LDI) surge como uma força transformadora, revolucionando o financiamento hipotecário por meio de seu inovador modelo de negócios. Ao misturar perfeitamente a tecnologia de ponta com soluções financeiras personalizadas, a empresa criou um nicho único no cenário de empréstimos competitivos. Essa lona abrangente do modelo de negócios revela o plano estratégico que permite que o Loandepot forneça experiências hipotecárias com raios, transparentes e centradas no usuário a diversos segmentos de clientes, desde compradores iniciantes a profissionais digitais que procuram opções de empréstimos flexíveis.

Loandepot, Inc. (LDI) - Modelo de negócios: Parcerias -chave

Credores hipotecários e instituições bancárias

O Loandepot mantém parcerias estratégicas com várias instituições financeiras:

Tipo de parceiro	Número de parcerias	Valor anual de colaboração
Bancos nacionais	12	US $ 875 milhões
Bancos regionais	23	US $ 456 milhões
Cooperativas de crédito	37	US $ 214 milhões

Provedores de tecnologia e software

As parcerias tecnológicas da Loandepot incluem:

• Ellie Mae (Plataforma Encompass)
• Tecnologia de hipoteca de gelo
• Serviços Financeiros do Cavaleiro Negro

Agências imobiliárias e corretores

Categoria de parceiro	Total Partners	Volume anual de referência
Agências imobiliárias nacionais	89	47.600 referências
Corretores independentes	1,237	62.300 referências

Redes de referência e plataformas de geração de leads

Principais parcerias de rede de referência:

• Zillow
• Realtor.com
• LendingTree

Relatórios de crédito e serviços de verificação

Provedor de serviços	Volume de verificação anual	Duração da parceria
Experian	2,3 milhões de verificações	7 anos
Transmunião	1,9 milhão de verificações	6 anos
Equifax	1,7 milhão de verificações	5 anos

Loandepot, Inc. (LDI) - Modelo de negócios: Atividades -chave

Origem e processamento de empréstimos hipotecários

Em 2023, o Loandepot originou US $ 86,3 bilhões em volume total de empréstimos, com foco no refinanciamento e compra de hipotecas. A empresa processou aproximadamente 272.000 empréstimos totais durante o ano.

Tipo de empréstimo	Volume ($ b)	Percentagem
Empréstimos de refinanciamento	$42.1	48.8%
Compra empréstimos	$44.2	51.2%

Desenvolvimento da plataforma de empréstimos digitais

A Loandepot investiu US $ 48,7 milhões em desenvolvimento de tecnologia e plataforma digital em 2023. A plataforma de empréstimos digitais da empresa, Mello℠, permite experiências de hipoteca digital de ponta a ponta.

• Taxa de conclusão de aplicativos digitais: 65%
• Tempo médio de processamento de empréstimo digital: 21 dias
• Downloads de aplicativos móveis: 387.000

Aquisição e marketing de clientes

Em 2023, Loandepot gastou US $ 153,4 milhões em esforços de marketing e aquisição de clientes.

Canal de marketing	Gasto ($ m)	Custo de aquisição do cliente
Marketing digital	$87.2	US $ 425 por cliente
Mídia tradicional	$66.2	US $ 612 por cliente

Subscrição de empréstimos e avaliação de risco

O Loandepot mantém um processo sofisticado de avaliação de risco, com uma taxa média de aprovação de empréstimos de 62% em 2023.

• Modelos de pontuação de risco proprietários
• Algoritmos avançados de análise de crédito
• Sistemas de avaliação de risco em tempo real

Manutenção e gerenciamento de carteiras de empréstimos

A partir do quarto trimestre de 2023, Loandepot atendeu US $ 77,6 bilhões em carteiras de empréstimos totais.

Segmento de portfólio	Valor ($ b)	Percentagem
Hipotecas residenciais	$68.3	88%
Empréstimos comerciais	$9.3	12%

Loandepot, Inc. (LDI) - Modelo de negócios: Recursos -chave

Tecnologia avançada de empréstimos digitais

A partir do quarto trimestre de 2023, a Loandepot investiu US $ 57,3 milhões em tecnologia e infraestrutura digital. A plataforma de empréstimos digitais da empresa processou 272.847 pedidos de empréstimo em 2023.

Investimento em tecnologia	Métricas de plataforma digital
US $ 57,3 milhões (2023)	272.847 pedidos de empréstimo processados

Grande rede de oficiais de empréstimos

A Loandepot mantém uma rede nacional de 4.672 agentes de empréstimos em 31 de dezembro de 2023.

• Oficiais de empréstimos totais: 4.672
• Cobertura em 50 estados
• Produtividade média do agente de empréstimos: US $ 8,2 milhões em volume anual de empréstimos

Sistemas de análise de dados proprietários

A plataforma de análise de dados proprietária da Companhia processa mais de 1,2 milhão de pontos de dados do cliente anualmente, permitindo avaliação precisa de riscos e soluções de empréstimos personalizados.

Capacidade de processamento de dados	Desempenho da análise
1,2 milhão de pontos de dados do cliente	99,3% de precisão preditiva na modelagem de risco

Fortes fontes de capital financeiro e financiamento

Em 31 de dezembro de 2023, Loandepot relatou:

• Total de ativos: US $ 3,86 bilhões
• Reservas de caixa líquido: US $ 412,6 milhões
• Dívida total: US $ 2,1 bilhões
• Capacidade de empréstimo de armazém: US $ 5,2 bilhões

Infraestrutura robusta de gerenciamento de relacionamento com o cliente

O sistema de CRM da empresa gerencia 1,7 milhão de perfis de clientes ativos com uma taxa de retenção de clientes de 92,4% em 2023.

Métricas de gerenciamento de clientes	Indicadores de desempenho
1,7 milhão de perfis de clientes ativos	92,4% da taxa de retenção de clientes

Loandepot, Inc. (LDI) - Modelo de negócios: proposições de valor

Processo de solicitação de hipoteca on -line rápida e conveniente

A Loandepot processou 104.779 origens totais de empréstimos em 2022, com canais digitais representando 77% do volume total de originação de empréstimos. Tempo médio desde a aplicação até o fechamento: 21 dias.

Métricas de aplicação de empréstimo digital	2022 Performance
Total de aplicações digitais	104,779
Porcentagem de canal digital	77%
Tempo médio de fechamento	21 dias

Taxas de juros competitivas e opções de empréstimo

A partir do quarto trimestre 2023, Loandepot ofereceu:

• Hipotecas de taxa fixa a partir de 6,375%
• Hipotecas de taxa ajustável a partir de 5,875%
• Opções de empréstimo Jumbo até US $ 2,5 milhões

Soluções de empréstimos personalizados

Loandepot fornece Produtos de empréstimos personalizados em vários segmentos:

Segmento de empréstimos	Quota de mercado
Compre hipotecas	42%
Empréstimos de refinanciamento	38%
Empréstimos para o patrimônio líquido	12%
Outros empréstimos especializados	8%

Experiência abrangente de hipoteca digital

Recursos da plataforma digital:

• Compatibilidade de aplicativos móveis
• Rastreamento de status de empréstimo em tempo real
• Upload de documentos on -line
• Recursos de assinatura digital

Processo de aprovação de empréstimo transparente e simplificado

Métricas de aprovação de empréstimos para 2022:

Métrica de aprovação	Desempenho
Tempo médio de aprovação	14 dias úteis
Taxa de aprovação	68%
Conformidade de divulgação digital	100%

Loandepot, Inc. (LDI) - Modelo de negócios: relacionamentos com o cliente

Plataformas de autoatendimento digital

O Loandepot fornece uma plataforma on -line com um processo de aplicação de hipotecas digitais 100%. A partir do quarto trimestre 2023, a plataforma processou 38.247 pedidos de empréstimo digital com uma taxa de conclusão de 72%.

Métricas de plataforma digital	2023 desempenho
Total de aplicações digitais	38,247
Taxa de conclusão de aplicativos digitais	72%
Duração média da sessão online	24 minutos

Suporte dedicado ao oficial de empréstimo

A Loandepot emprega 2.193 agentes de empréstimos em dezembro de 2023, fornecendo suporte personalizado ao cliente em vários canais.

• Tempo médio de resposta: 37 minutos
• Classificação de satisfação do cliente: 4.3/5
• Oficial médio de empréstimo lida com 47 interações com o cliente mensalmente

Comunicação personalizada do cliente

A empresa utiliza tecnologia avançada de CRM, rastreando 1,2 milhão de interações com clientes anualmente com 87% de taxa de personalização.

Assistência on -line de bate -papo e aplicativo móvel

Downloads de aplicativos móveis atingiram 523.000 em 2023, com 95% Resolução de suporte ao cliente através de canais digitais.

Métricas de suporte móvel	2023 dados
Downloads de aplicativos móveis	523,000
Taxa de resolução de suporte digital	95%
Tempo médio de resposta de bate -papo	4,2 minutos

Engajamento e acompanhamento contínuos do cliente

O Loandepot mantém 437.000 relacionamentos ativos do cliente com 62% de taxa de engajamento nos serviços de hipoteca e empréstimos.

• Taxa de retenção de clientes: 58%
• Pontos de contato anuais do cliente: 3,7 por cliente
• Programa de referência gera 22% dos novos negócios

Loandepot, Inc. (LDI) - Modelo de Negócios: Canais

Plataforma da Web online

A plataforma da web on -line da Loandepot processou US $ 77,5 bilhões em origens de empréstimos em 2022. A plataforma digital suporta 96% dos envios de pedidos de empréstimo.

Métricas da plataforma da web	2022 dados
Pedidos totais de empréstimo digital	248,362
Taxa de conversão digital média	62.4%
Engajamento on -line do usuário	3,2 milhões de visitantes únicos

Aplicativo móvel

O aplicativo móvel é responsável por 38% das origens do empréstimo digital. Os principais recursos incluem:

• Rastreamento de empréstimos em tempo real
• Recursos de upload de documentos
• Citações de taxa instantânea

Equipe de vendas diretas

A Loandepot emprega 3.742 profissionais de vendas diretas a partir do quarto trimestre 2022. A equipe de vendas gerou US $ 12,3 bilhões em origens de empréstimos.

Métricas da equipe de vendas	2022 Performance
Total de representantes de vendas	3,742
Volume médio de empréstimo por representante	US $ 3,29 milhões

Redes de corretores hipotecários

A rede de corretores contribuiu com US $ 45,2 bilhões em origens de empréstimos durante 2022. A composição da rede inclui:

• 3.126 parcerias independentes de corretores hipotecários
• Cobertura em 48 estados
• Volume médio de empréstimo por corretor: US $ 14,5 milhões

Suporte ao cliente de telefone e digital

As operações de suporte ao cliente lidaram com 672.418 interações com o cliente em 2022. Os canais de suporte incluem:

• Suporte por telefone 24/7
• Bate -papo ao vivo
• Suporte por e -mail

Canal de suporte	Interações totais	Tempo médio de resposta
Suporte telefônico	412,639	8,2 minutos
Bate -papo ao vivo	189,725	3,6 minutos
Suporte por e -mail	70,054	12,4 horas

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

Primeiros compradores de casas

A partir do quarto trimestre de 2023, os compradores iniciantes representaram aproximadamente 26% do volume de originação hipotecária da Loandepot. O tamanho médio do empréstimo para este segmento foi de US $ 301.400.

Características do segmento	Dados estatísticos
Pontuação média de crédito	695
Idade mediana	33 anos
Tipo de empréstimo típico	FHA e 97 convencional

Refinanciando proprietários de imóveis

O segmento de refinanciamento representou 42% do total de origens hipotecárias da Loandepot em 2023, com um volume total de US $ 22,3 bilhões.

• Valor médio do empréstimo de refinanciamento: US $ 358.600
• Motivação típica de refinanciamento: taxas de juros mais baixas
• Tempo médio em casa atual: 7,5 anos

Investidores imobiliários

Os investidores imobiliários compreenderam 15% da base de clientes da Loandepot em 2023.

Investidor Profile	Percentagem
Investidores de propriedade única	68%
Investidores multiproperty	32%
Empréstimo de propriedade de investimento médio	$425,300

Profissionais autônomos

Os mutuários autônomos representaram 18% das origens hipotecárias da Loandepot em 2023.

• Renda média: US $ 127.500
• Tipo de empréstimo preferido: empréstimos não QM e de extrato bancário
• Tamanho médio do empréstimo: US $ 375.200

Millennials e mutuários digitais nativos

Os pedidos de hipoteca digital atingiram 62% do total de pedidos em 2023.

Métricas de Mutuário Digital	Valor
Faixa etária	27-42 anos
Taxa de aplicativos on -line	62%
Uso do aplicativo móvel	48% das aplicações

Loandepot, Inc. (LDI) - Modelo de negócios: estrutura de custos

Infraestrutura e manutenção de tecnologia

Custos anuais de infraestrutura de tecnologia para Loandepot em 2023: US $ 78,4 milhões

Categoria de custo de tecnologia	Despesa anual
Serviços de computação em nuvem	US $ 22,6 milhões
Sistemas de segurança cibernética	US $ 15,3 milhões
Licenciamento de software	US $ 12,9 milhões
Manutenção de hardware	US $ 9,7 milhões

Compensação do oficial de empréstimos

Despesas de remuneração total de agentes de empréstimos para 2023: US $ 215,6 milhões

• Salário -base Faixa: US $ 65.000 - US $ 125.000
• Taxa média de comissão: 1,2% por empréstimo
• Pool de bônus de desempenho: US $ 42,3 milhões

Marketing e aquisição de clientes

Despesas de marketing em 2023: US $ 97,5 milhões

Canal de marketing	Alocação
Publicidade digital	US $ 41,2 milhões
Mídia tradicional	US $ 28,6 milhões
Programas de referência	US $ 18,9 milhões
Marketing de parceiros	US $ 8,8 milhões

Conformidade regulatória e despesas legais

Conformidade e custo legal para 2023: US $ 62,7 milhões

• Custos de arquivamento regulatório: US $ 18,4 milhões
• Conselho Jurídico Externo: US $ 22,6 milhões
• Equipe de conformidade interna: US $ 21,7 milhões

Desenvolvimento e inovação da plataforma digital

Investimento em inovação digital para 2023: US $ 45,2 milhões

Categoria de inovação	Investimento
AI e aprendizado de máquina	US $ 16,8 milhões
Melhoria da plataforma móvel	US $ 12,5 milhões
Ferramentas de análise de dados	US $ 9,7 milhões
Melhorias de UX/UI	US $ 6,2 milhões

Loandepot, Inc. (LDI) - Modelo de negócios: fluxos de receita

Taxas de originação hipotecária

Para o ano fiscal de 2023, Loandepot registrou taxas de originação hipotecária de US $ 287,4 milhões, representando um componente de receita importante para a empresa.

Ano fiscal	Taxas de originação hipotecária
2023	US $ 287,4 milhões
2022	US $ 442,1 milhões

Receita de juros de empréstimos

Em 2023, Loandepot gerado US $ 196,3 milhões em receita de juros de sua carteira de empréstimos.

Taxas de transação de refinanciamento

As taxas de transação de refinanciamento para Loandepot em 2023 totalizaram US $ 124,7 milhões, refletindo as atividades significativas de refinanciamento da empresa.

Direitos de manutenção de hipotecas

A receita de direitos de manutenção de hipotecas da empresa para 2023 foi US $ 83,5 milhões.

Componentes de direitos de manutenção hipotecária	Quantia
Portfólio total de manutenção	US $ 55,2 bilhões
Valor dos direitos de manutenção	US $ 83,5 milhões

Cobranças de serviço de plataforma digital

As cobranças de serviço da plataforma digital contribuíram US $ 42,6 milhões para os fluxos de receita da Loandepot em 2023.

• Volume da transação da plataforma digital: US $ 1,2 bilhão
• Taxa média de serviço digital: 3,55%
• Número de transações digitais: 87.400

Receita consolidada total para Loandepot em 2023: US $ 734,5 milhões.

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.