loanDepot Amends Credit Agreement

TL;DR

loanDepot just restated its credit agreement, potentially changing how it borrows money.

AI Summary

On July 26, 2024, loanDepot, Inc. entered into a material definitive agreement, specifically a Second Amended and Restated Credit Agreement. This agreement amends and restates the existing credit facility, indicating a restructuring or modification of their debt obligations. The filing does not specify the exact dollar amount of the credit facility but details the amendment process.

Why It Matters

This filing indicates loanDepot is modifying its existing credit facility, which could impact its financial flexibility and borrowing costs.

Risk Assessment

Risk Level: medium — Changes to credit agreements can signal financial strain or strategic shifts that may affect the company's future performance.

Key Players & Entities

• loanDepot, Inc. (company) — Registrant
• July 26, 2024 (date) — Date of Report
• Second Amended and Restated Credit Agreement (agreement) — Material Definitive Agreement

FAQ

Key Financial Figures

• $0.001 — hich registered Class A Common Stock, $0.001 Par Value LDI New York Stock Exchange
• $450,000,000 — change the aggregate facility amount to $450,000,000 and the committed amount to $250,000,00
• $250,000,000 — 450,000,000 and the committed amount to $250,000,000. The foregoing description of the Fir

Filing Documents

• ldi-20240726.htm (8-K) — 29KB
• loandepot_gsxspv1stamendme.htm (EX-10.1) — 45KB
• 0001831631-24-000191.txt ( ) — 202KB
• ldi-20240726.xsd (EX-101.SCH) — 2KB
• ldi-20240726_lab.xml (EX-101.LAB) — 21KB
• ldi-20240726_pre.xml (EX-101.PRE) — 12KB
• ldi-20240726_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. First Amendment to Credit and Security Agreement with Goldman Sachs Bank USA On July 26, 2024, loanDepot FA Agency MSR, LLC, a Delaware limited liability company and direct, wholly-owned subsidiary of loanDepot.com, LLC, as borrower (the "Borrower"), entered into the First Amendment (the "First Amendment") to Credit Agreement (as amended, restated, supplemented or otherwise modified from time to time, the "Credit Agreement") with loanDepot.com, LLC, a Delaware limited liability company and an indirect, majority-owned subsidiary of loanDepot, Inc., as guarantor (the "Company"), the financial institutions that may from time to time become parties thereto (each such financial institution, a "Lender" and collectively, the "Lenders"), and Goldman Sachs Bank USA ("GS Bank"), as administrative agent, pursuant to which the Lenders provide a revolving line of credit to the Company that is secured by certain of the Company's mortgage servicing rights with respect to mortgage loans serviced for Fannie Mae pursuant to the Fannie Mae servicing contract and other collateral listed in the Credit Agreement. The primary purposes of the First Amendment are to (a) upon execution of an amendment to the acknowledgment agreement, extend the Maturity Date until January 28, 2026, and (b) change the aggregate facility amount to $450,000,000 and the committed amount to $250,000,000. The foregoing description of the First Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the First Amendment, 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# First Amendment to Credit Agreement, dated as of July 26, 2024, by and among loanDepot FA Agency MSR, LLC, as borrower, loanDepot.com, LLC, as guarantor, and Goldman Sachs Bank USA, as Administrative Agent for the financial institutions that may from time to time become parties as Lenders, and the Lenders, as defined in the Credit Agreement. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) # Confidential information has been omitted because it is both (i) not material and (ii) is the type of information that the Company treats as private or confidential pursuant to Item 601(b)(10) of Regulation S-K. 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: July 30, 2024