Categorized | Finance and Mortgage

One Billion Dollars in New Mortgage Loans Originated by loanDepot.com

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Despite abysmal reports from many of the nation’s biggest banks regarding mortgage applications, loanDepot.com has reached a new milestone. In the month of August alone, the company originated one billion dollars in new residential mortgage loans. The company, which is one of the largest online lenders, was started just twenty months ago.

Hitting the one billion dollar mark in one month is a major accomplishment, particularly considering the current state of the real estate market, and the overall economy. Many of the nations biggest banks and lenders have reported struggling numbers despite record low rates, and many analysts have pointed to strict lending standards as preventing large numbers in mortgage originations.

With loanDepot.com’s success, many mortgage loan and lending experts are starting to question as to whether online mortgage loan origination may be the wave of a new future for the market. With the unprecedented struggles faced by lenders and real estate agencies alike, experts are certainly studying the successes of loanDepot to discover how they were able to drive such strong numbers.

Much of loanDepot.com’s success comes from the three major initiatives that they launched during the summer. With a very strong focus on providing optimal customer service, and innovation in the way that they do business, they have continued to attract customers who would have otherwise been deterred from the market due to its overall turmoil.

The one billion dollars in mortgage loan originations generally leads to roughly seventy hundred and fifty million dollars in loan funding. That number truly reflects the growth of loanDepot, as well as the potential that the company has for building upon its successes.

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About Drew Wilson

Drew focuses on the Commercial and Mortgage/Finance categories.

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