loanDepot is expanding to Plano, Texas, and expects to add 500 new jobs in the next three years.

"The decision to grow in Plano significantly advances loanDepot’s strategic growth plans to continue to be a top residential mortgage lender in the country," said loanDepot founder and CEO Anthony Hsieh.

"The favorable tax positions offered by the City of Plano and the State of Texas create a competitive advantage for loanDepot and its shareholders that will allow us to continue to drive great value for our customers."

Plano was selected for its strong labor pool and central location in the U.S. This will be loanDepot’s fourth location, adding to the 1,000 full-time employees in its offices in Foothill Ranch, Calif.; Scottsdale, Ariz.; and Brentwood, Tenn.

The company will maintain dual headquarters in Plano and within its Foothill Ranch location in California.

Operations will begin in April and add to the company's plan to provide consumers in all 50 states greater levels of service and convenience.