loanDepot Reports Material Definitive Agreement on Jan 12
Ticker: LDI · Form: 8-K · Filed: Jan 19, 2024 · CIK: 1831631
| Field | Detail |
|---|---|
| Company | Loandepot, INC. (LDI) |
| Form Type | 8-K |
| Filed Date | Jan 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: material-agreement, corporate-action
TL;DR
**loanDepot just signed a major new agreement, watch for details on its impact.**
AI Summary
loanDepot, Inc. filed an 8-K on January 19, 2024, reporting an "Entry into a Material Definitive Agreement" on January 12, 2024. This filing indicates a significant new contract or agreement that could impact the company's financial position or operations. For investors, this matters because material agreements can signal new business opportunities, changes in debt structure, or strategic partnerships, all of which could affect the stock's future performance and valuation.
Why It Matters
This filing signals a potentially significant business development for loanDepot, Inc., which could influence its financial health and future growth prospects.
Risk Assessment
Risk Level: medium — The filing indicates a material agreement but lacks specific details, creating uncertainty about its nature and potential impact, which could be positive or negative.
Analyst Insight
A smart investor would monitor subsequent filings or press releases from loanDepot, Inc. for specific details regarding the "Material Definitive Agreement" to understand its financial and operational implications before making any investment decisions.
Key Players & Entities
- loanDepot, Inc. (company) — the registrant filing the 8-K
- January 12, 2024 (date) — date of the earliest event reported (entry into material definitive agreement)
- January 19, 2024 (date) — date the 8-K was filed
- 001-40003 (other) — Commission File Number for loanDepot, Inc.
- LDI (other) — Trading Symbol for Class A Common Stock
- New York Stock Exchange (other) — exchange where Class A Common Stock is registered
FAQ
What was the specific event reported in this 8-K filing by loanDepot, Inc.?
The specific event reported in this 8-K filing by loanDepot, Inc. was the "Entry into a Material Definitive Agreement" as of January 12, 2024.
When did loanDepot, Inc. file this 8-K report?
loanDepot, Inc. filed this 8-K report on January 19, 2024, with the earliest event reported occurring on January 12, 2024.
What is loanDepot, Inc.'s trading symbol and on which exchange is its Class A Common Stock registered?
loanDepot, Inc.'s trading symbol is LDI, and its Class A Common Stock, with a $0.001 Par Value, is registered on the New York Stock Exchange.
What is the business address of loanDepot, Inc. as stated in the filing?
The business address of loanDepot, Inc. is 6561 Irvine Center Drive, Irvine, California 92618.
Does this 8-K filing provide specific details about the terms or parties involved in the Material Definitive Agreement?
No, this 8-K filing only states the "Entry into a Material Definitive Agreement" under Item 1.01 but does not provide specific details about the terms, parties, or financial implications of the agreement within the provided text.
Filing Stats: 645 words · 3 min read · ~2 pages · Grade level 9.9 · Accepted 2024-01-18 17:46:03
Key Financial Figures
- $0.001 — hich registered Class A Common Stock, $0.001 Par Value LDI New York Stock Exchange
Filing Documents
- ldi-20240112.htm (8-K) — 29KB
- jpmc-loandepotxamendmentno.htm (EX-10.1) — 43KB
- 0001831631-24-000009.txt ( ) — 203KB
- ldi-20240112.xsd (EX-101.SCH) — 2KB
- ldi-20240112_lab.xml (EX-101.LAB) — 23KB
- ldi-20240112_pre.xml (EX-101.PRE) — 12KB
- ldi-20240112_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. Amendment No. 3 to the Base Indenture with JPMorgan Chase Bank, N.A On January 12, 2024, loanDepot.com, LLC (the "Company"), a Delaware limited liability company and an indirect subsidiary of loanDepot, Inc., as servicer and administrator, and loanDepot Agency Advance Receivables Trust, a wholly-owned subsidiary of the Company (the "Advance Receivables Trust"), as issuer, entered into Amendment No. 3 to the Base Indenture ("Amendment No. 3"), with Citibank, N.A., as indenture trustee, calculation agent, paying agent, custodian and securities intermediary, and JPMorgan Chase Bank, N.A. ("JPMorgan"), as administrative agent, and consented to by JPMorgan, as noteholder of the Series 2020-VF1 Variable Funding Notes. The Advance Receivables Trust issued the 2020-VF1 Variable Funding Notes for the financing of servicing advance receivables with respect to residential mortgage loans serviced by the Company on behalf of Fannie Mae and Freddie Mac. The sole purpose of Amendment No. 3 is to move the January 2024 Payment Date from January 12, 2024 to January 22, 2024, to allow the Company to finalize the payment amount due under the Base Indenture in light of the cybersecurity incident previously reported on loanDepot, Inc.'s Form 8-K on January 8, 2024. The foregoing description of Amendment No. 3 does not purport to be complete and is qualified in its entirety by reference to the full text of Amendment No.3, 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 Amendment No. 3 to the Base Indenture, dated as of January 12, 2024, by and among loanDepot Agency Advance Receivables Trust, Citibank, N.A., loanDepot.com, LLC, JPMorgan Chase Bank, N.A., and consented to by JPMorgan Chase Bank, N.A. 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 17, 2024