Retail lender loanDepot is reportedly continuing to expand its presence in the mortgage originations market.

This time, it will snap up all the loan officers at the tech-savvy online lender RoundPoint Mortgage, according to a source. A spokesperson for loanDepot could not confirm or deny the source's claim.

However, the move makes sense as the two companies share similar business models; that is, high-touch, boutique customer service. The loan officers are currently being notified of the transition, according to information provided from a RoundPoint LO who asked to remain anonymous. The LO also said the acquisition manager had been in his office "two or three times" in the last few weeks.

The source roughly estimated RoundPoint employs around 200 loan officers.

loanDepot opened its doors for business in 2010, and is already the second-largest private nonbank retail lender in the nation, according to their spokesperson.

According to its LinkedIn page, the company was "founded on the principles of fair and ethical lending, with a customer-centric strategy to deliver great service and competitive rates."

RoundPoint is rated 2.6 out of 5 stars by its customers on Google, who tend to either love or hate their experience. Its Zillow ratings are much better. Either way, RoundPoint is responsive to complaints on social media, a growing customer service strategy which fits well into the loanDepot business model.

RoundPoint offers a fee-free mortgage that is reflected in the good-faith estimate as credits toward the normal servicing fees.

Borrowers then see the credits on the HUD-1 form. However, the growing regulatory burden is leaving "lenders scrambling to find a model that works or to find someone to take them," the source said.

"loanDepot is aggressive and wants to build a Quicken Loans-sized operation," he added in reference to the largest nonbank loan originator.

They're on their way.

In April 2014, loanDepot launched its wholesale lending division, LDWholesale. That division is designed to offer mortgage brokers efficient, high-touch boutique-style service.   

In August 2013, loanDepot and imortgage signed an agreement to create a new combined retail mortgage lender, loanDepot confirmed in a press statement.

The partnership created a diversified origination platform, with the newly formed entity representing more than $15 billion in annualized origination volume.

In June 2013, loanDepot opened a new branch in North Texas.

"We offer this service to all 50 states, and for a company as young as us to come out this fast and to have this much demand and this much success tells you the amount of demand from customers that are seeking a fast reliable trustworthy lender," said CEO and Founder Anthony Hsieh.

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