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loanDepot narrows losses in Q2 as margins improve

loanDepot delivered its fifth consecutive quarterly loss in the second quarter of 2023, a period marked by a leadership shake-up and a business lines consolidation, according to documents filed with the Securities and Exchange Commission (SEC) on Tuesday.

But the company’s financials are improving. The California-based mortgage lender had its second consecutive double-digit revenue gain amid increasing origination volumes and margins. And despite higher expenses, it significantly narrowed its losses from April to June. 

The lender recorded a loss of $34.3 million in non-GAAP adjusted net income in the second quarter of 2023, compared details ⇒

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