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Why Shares of loanDepot Are Falling Today
Total revenue is significantly down from what the company put up in the fourth quarter of 2020, which was a particularly good time for the industry: The low-rate environment drove incredibly strong origination volume and higher gain-on-sale margins. “Conditions like those we enjoyed in 2020 are when loanDepot drives revenue, but the conditions we expect in 2022 present an incredible opportunity for us to capture market share,” loanDepot founder and CEO Anthony Hsieh said in a statement.
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