loanDepot plans to hire 1,000 employees to support its growing prominence in the industry.
The company has already come a long way from opening its new co-headquarters in Plano, Texas, just two years ago. At that time, the lender said it was eager to fill its unattended desks with new employees.
Now, loanDepot has nearly doubled the size of its online direct-lending production center, located in Orange County, Calif., from 131,267 to 238,732 square feet, bringing the lender to officially occupy more than 885,162 square feet of space nationwide. This includes direct-lending production centers in Plano, Texas, Brentwood, Tennessee and Scottsdale, Arizona.
“The continued expansion of our business and operations reflects the strength of the loanDepot brand and growing consumer demand for our products and services,” loanDepot Chairman and CEO Anthony Hsieh said. “As the economy continues to improve, so does consumer confidence and consumer demand for credit. loanDepot is committed to growing our product lines and expanding our services to meet the diverse financial needs our borrowers will have throughout their lives. We look forward to the continued growth that will empower us to answer increased interest and demand for our products.”
Loan Depot has made a lot of headway in the industry over the past year, most recently announcing that it plans to be the No. 1 nonbank consumer lender.
In an interview with HousingWire, loanDepot CEO and Founder Anthony Hsieh said the company is getting ready to launch into its latest product, personal loans.
This would make loanDepot one of the first mortgage lenders to offer marketplace lending and take a substantial step outside the world of housing.
Within the next month, loanDepot will start to offer unsecured personal loans, ranging from $5,000 to $35,000, that are repayable in three- or five-year terms. Interest rates will be as low as 6.17% for qualified borrowers with an average anticipated FICO score of 700. Borrowers can use the loans for almost anything.
