loanDepot Enters Material Definitive Agreement on Dec 28, 2023

TL;DR

**loanDepot just signed a big new deal, details pending but it's a material event.**

AI Summary

loanDepot, Inc. filed an 8-K on January 3, 2024, reporting an "Entry into a Material Definitive Agreement" on December 28, 2023. This filing indicates that the company has entered into a significant new contract or arrangement, which could impact its financial health and future operations. For investors, understanding the specifics of this agreement is crucial as it could signal new business opportunities, changes in debt structure, or other material events that will affect the stock's value.

Why It Matters

This filing signals a potentially significant change in loanDepot's business operations or financial structure, which could directly influence its profitability and stock performance. Investors need to monitor for further details to assess the impact.

Risk Assessment

Risk Level: medium — The filing indicates a material agreement without disclosing its specifics, creating uncertainty about its potential positive or negative impact on the company.

Analyst Insight

A smart investor would await further disclosures from loanDepot, Inc. regarding the specifics of this material definitive agreement to understand its financial implications before making any investment decisions.

Key Players & Entities

• loanDepot, Inc. (company) — the registrant filing the 8-K
• December 28, 2023 (date) — date of the earliest event reported (entry into material definitive agreement)
• January 3, 2024 (date) — date the 8-K was filed
• 001-40003 (other) — Commission File Number for loanDepot, Inc.

FAQ

Key Financial Figures

• $0.001 — hich registered Class A Common Stock, $0.001 Par Value LDI New York Stock Exchange
• $175 million — ) change the maximum facility amount to $175 million. The foregoing description of the A&R

Filing Documents

• ldi-20231228.htm (8-K) — 29KB
• everbank-loandepotxseconda.htm (EX-10.1) — 638KB
• 0001831631-24-000002.txt ( ) — 892KB
• ldi-20231228.xsd (EX-101.SCH) — 2KB
• ldi-20231228_lab.xml (EX-101.LAB) — 23KB
• ldi-20231228_pre.xml (EX-101.PRE) — 12KB
• ldi-20231228_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Second Amended and Restated Master Repurchase Agreement with EverBank, N.A. On December 28, 2023, loanDepot.com, LLC, a Delaware limited liability company and an indirect subsidiary of loanDepot, Inc, as seller (the "Company"), entered into the Second Amended and Restated Master Repurchase Agreement (the "A&R MRA") with EverBank, N.A., formerly known as TIAA, FSB, as buyer (the "Buyer"), pursuant to which the Company may sell to the Buyer, and later repurchase, certain residential mortgage loans. The A&R MRA replaces an existing amended and restated master repurchase agreement, dated as of November 15, 2021 (as amended, restated, supplemented or otherwise modified from time to time, the "Existing MRA") entered into by the Company, as the seller, TIAA, FSB, formerly known as EverBank, as administrative agent for the buyers and as a buyer, and Flagstar Bank, N.A., as purchaser of the rights and obligations from Signature Bridge Bank, N.A., as successor in interest to Signature Bank. The primary purpose of the A&R MRA and certain ancillary documents are to: (i) change the name of the Buyer in the Existing MRA; (ii) change the facility from a syndicated facility to a single lender facility; (ii) extend the termination date to December 26, 2024; and (iii) change the maximum facility amount to $175 million. The foregoing description of the A&R MRA does not purport to be complete and is qualified in its entirety by reference to the full text of the A&R MRA, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Second Amended and Restated Master Repurchase Agreement, dated December 28, 2023, by and between loanDepot.com, LLC, as seller, and EverBank, N.A., formerly known as TIAA, FSB Bank, as buyer. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. loanDepot, Inc. By: /s/ David Hayes Name: David Hayes Title: Chief Financial Officer Date: January 2, 2024

View Full Filing

View this 8-K filing on SEC EDGAR