LoanDepot , sometimes stylized as loanDepot , is an Irvine, California-based nonbank holding company which sells mortgage and non-mortgage lending products LoanDepot was founded in 2009 by entrepreneur Anthony Hsieh, who had previously founded mortgage companies LoansDirect.com which he sold to E*Trade in 2001, and HomeLoanCenter.com, which he sold to LendingTree in 2004.The company's products at the time included fixed rate, jumbo, FHA and home equity loans, in addition to more controversial adjustable-rate mortgages (ARM) and negative amortization products. [ citation needed ] In November 2015, loanDepot claimed to be the second largest non-bank provider of direct-to-consumer loans in the United States and postponed a planned IPO, citing poor market conditions.In March 2017, the company introduced technology to automate the loan process, allowing customers to apply for a mortgage without talking to a loan officer.In January 2018, the company announced two products as part of...
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