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Mounting losses force loanDepot to amend loan agreements

Mortgage lender loanDepot, based in Orange County, California, has more bad news tucked away in its latest quarterly earnings report filed with the U.S. Securities and Exchange Commission (SEC) — beyond announcing it was shutting down its wholesale division after posting a second quarter loss of $223.8 million, following on the heels of $91.3 million loss for the prior quarter.

As a result of the latest batch of red ink, the lender reports via a footnote in its second-quarter earnings filings with the SEC that it has been forced to amend or obtain details ⇒

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