loanDepot greatly reduced its costs in 2023 while revenues were in free fall amid a contracting market. It wasn’t enough to bring the California-based lender company profitability, but it narrowed its losses. 

Operationally, loanDepot entered 2024 by dealing with a cyberattack that brought its systems down and a forecast for market conditions to improve. 

loanDepot recorded a non-GAAP adjusted net loss of $142.4 million in 2023, compared to a $457.6 million loss in 2022. By GAAP accounting standards, the net loss last year was $235.5 million, per filings with the Securities and Exchange Commission (SEC) details ⇒

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