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loanDepot starts 2023 with changes to its warehouse credit line agreements

California-based mortgage lender loanDepot made changes to its credit line agreement with two of its warehouse lenders going into 2023 amid shrinking origination volume in the previous year. 

In late December, Dallas, Texas-headquartered NexBank adjusted the revolving credit note to $200 million from $268 million in the previous year, according to a U.S. Securities and Exchange Commission filing dated December 29. Nexbank has been extending lines of credit to loanDepot since 2014. 

“On December 22, 2021, borrower (loanDepot) executed an eighteenth amended and restated promissory note in the principal amount of $268,000,000 in favor of Lender (NexBank), evidencing the loan,” according to details ⇒

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