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loanDepot CEO talks ‘longer and tougher’ mortgage cycle, NAR settlement and cyberattacks 

loanDepot CEO Frank Martell expects the current mortgage market cycle to be “longer and tougher than anybody expected.” Adding to this challenge, lenders must deal with an increased risk of cyberattacks, something that loanDepot itself experienced earlier this year. 

“At least around loanDepot, people were doing high 5s [30-year fixed mortgage rates] in the fourth quarter of last year, thinking rates were to come down, and things were going to take off. That’s kind of evaporated,” Martell said on Tuesday morning in a session during The Gathering, HousingWire’s real estate and mortgage conference details ⇒

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