loanDepot achieved profitability in the third quarter of 2024, ending an 11-quarter streak of financial losses. Cost reductions and revenue growth drove this turnaround amid lower interest rates, which boosted refinancing activity.

As a result, loanDepot is retiring its Vision 2025 strategic plan, which began in July 2022 to help the company reduce its non-volume expenses by more than $730 million.

Vision 2025 will be replaced by a program called Project North Star that is focused on the homeownership journey. It has an emphasis on first-time homebuyers; purchase loans through an expanded geographic footprint and partnerships; details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com