loanDepot reports $307 million Q3 revenue

loanDepot (NYSE:LDI) reported third-quarter 2026 revenue of US$307.1 million, down 9% sequentially, as lower mortgage origination volumes affected income.

Origination volume declined 12% to US$7.05 billion from the previous quarter, although unit volume increased 7%, while adjusted revenue fell 2% to US$302.2 million.

Net loss widened to US$28.7 million from US$6.6 million in the second quarter, while adjusted EBITDA declined to US$16.9 million from US$20.3 million, and expected annualized savings from productivity initiatives increased to US$25 million from US$12 million.

Following the announcement, loanDepot shares were down 6.1% at US$0.60 in premarket trading on November 9, compared with the November 6 closing price of US$0.64.

The company completed the sale of US$10 billion in Agency mortgage servicing rights and sold another US$9 billion in Government mortgage servicing rights in October, while repurchasing US$87 million of senior notes at an average price of 88% of par.

loanDepot is expanding its higher-margin home equity lending business, which helped increase its pull-through weighted gain-on-sale margin by 54 basis points to 399 basis points, while fourth-quarter guidance calls for origination volume of US$4.5 billion–US$6.5 billion.