Overview
- LoanDepot reported a $54.9 million net loss for the first quarter of 2026, with revenue at $286.4 million and about $7.6–$7.7 billion in originations.
- Pull‑through weighted gain‑on‑sale margin fell to 2.71% from 3.24% in the prior quarter as rates spiked and the mix shifted toward lower‑margin conventional loans.
- The company booked a $64.4 million drop in the fair value of mortgage servicing rights, which reduced revenue during the volatile quarter.
- Leaders said their rebuild is progressing, citing a wholesale channel relaunch, a partnership with Figure’s tech to speed closings, a 12% cut in marketing costs, and a 73% refinance recapture rate.
- Guidance calls for a Q2 pull‑through weighted margin of 3.30% to 3.60% and higher volumes, while cash declined to $277 million after investing in servicing rights that can generate future fee income.