loanDepot reported a smaller loss in the third quarter as higher loan volumes, improved margins and increased servicing income boosted its results.

Revenue for the California-based mortgage lender rose 14% from the previous quarter to $323 million, while adjusted revenue increased 11% to $325 million. Pull-through weighted gain-on-sale margins rose 9 basis points to 339 bps.

Founder and CEO Anthony Hsieh said the company’s focus during the quarter was on reshaping its leadership team to drive operational excellence and position for profitable growth. Just hours before the earnings call, the company named Nikul Patel as its chief growth officer.

“In the details ⇒

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