IRVINE, CA—loanDepot LLC, has launched a wholesale lending division, LDWholesale.
The company says it is designed to offer mortgage brokers efficient, high-touch boutique-style service, LDWholesale delivers fast-funding loan products at competitive rates with the convenience of both an online and direct call experience.
“While market and regulatory conditions are pushing many lenders out of the wholesale market, we see a tremendous opportunity to serve brokers who are interested in a wholesale partner backed by the power of the loanDepot brand,” said loanDepot president and COO, Dave Norris. “Our expansion into
wholesale strengthens loanDepot’s commitment to brokers across the country who are working hard to connect home buyers with financing that best fits their needs.”
Built on proprietary mortgage technology, the LDWholesale experience centers around a web portal and loan origination system offering mortgage brokers anytime access to the company’s full suite of loan products in an easy-to-use and intuitive online experience. Through the online LDWholesale
Broker Portal—at any time in their work day—brokers can quickly find the loans that best fit their client’s needs, competitively price loans, lock during lock hours, submit loan documents through a secure data exchange, and track loan progress.
At launch, LDWholesale will offer a full suite of high quality competitively-priced loan products including Conventional Fixed / ARM, Conventional Hi-Balance Fixed / ARM, HARP DURP-Fixed / ARM, HARP LP Open Access-Fixed, FHA Fixed / ARM, FHA Streamlined, and VA Fixed / ARM loans.
Backed by the loanDepot brand and tenured management expertise, LDWholesale broker partners and their clients will benefit from the loanDepot Capital Markets team who provide expert secondary market execution and hedging strategies, and pass these efficiencies and savings back to customers via
“There is no segment within the mortgage industry facing greater challenges today than mortgage brokers and bankers. We’re committed to empowering our partners with the service levels and loan products they need and expect from a loanDepot brand business so they’re successful in today’s fast changing marketplace” said Jeff Walsh, president of LDWholesale. “We designed the LDWholesale Broker Portal using feedback from industry partners throughout the development process. As a result, we’ve created a streamlined and efficient experience for mortgage brokers that’ll reduce production times and enhance the flow of information from application to closing.”
Walsh, who was promoted to president of loanDepot’s wholesale division in December 2013, shares early feedback from mortgage brokers about the opening of loanDepot’s new LDWholesale division.