In addition to $15 million in direct costs, loanDepot says it lost an additional $22 million in revenue while systems were down, contributing to $72 million net loss.
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LoanDepot trims 2023 net loss by 37%, retains ‘strong liquidity profile’
As mortgage rates soared last year, loanDepot saw 2023 loan origination volume plunge by 58 percent from the year before, to $22.7 billion.