loanDepot promotes Mary Bane to SVP of production for Northeast/Central

IRVINE, Calif. - loanDepot, Inc. (NYSE:LDI), a mortgage lender with a market capitalization of $1.07 billion and a remarkable 148% stock price increase over the past six months according to InvestingPro, announced the promotion of Mary Bane to Senior Vice President of Production for the Northeast/Central division, according to a company press release.

Bane, who is based in Chicago, brings more than 25 years of industry experience to the role. She joined loanDepot in 2015 as a Regional Vice President and built the company’s Midwest region from scratch. Under her leadership, the territory expanded to cover 13 states with nearly 350 employees, becoming loanDepot’s largest In-Market Retail territory. The appointment comes as the company prepares to report its next earnings on November 11, with InvestingPro data showing analysts have recently revised their earnings expectations downward.

Before joining loanDepot, Bane worked as a top producing originator and sales leader at several mortgage companies including Prospect Mortgage, Countrywide Home Loans and American Home Mortgage. She developed expertise in government-backed loan programs and has focused on serving first-time homebuyers.

"Her mortgage acumen is one of her superpowers, and no one works harder or leads with more heart to bring value to her team," said Tom Fiddler, loanDepot President of Retail Lending, in the statement.

Founded in 2010, loanDepot is licensed in all 50 states and offers a range of lending and real estate services. The company is publicly traded on the New York Stock Exchange.

In other recent news, loanDepot announced the appointment of Adam Saab as Executive Vice President of Servicing, bringing over 25 years of mortgage servicing experience to the company’s leadership. Saab will manage the servicing platform and loan portfolio from the Plano, Texas office, emphasizing operational excellence and regulatory compliance. Additionally, loanDepot completed a $150 million secured term notes offering through its indirect subsidiary, loanDepot GMSR Master Trust. These notes, secured by mortgage servicing rights on Ginnie Mae-backed securities, will mature in 2030, with proceeds used to partially pay down existing debt.

Citron Research released a report suggesting that loanDepot’s servicing business is undervalued, estimating its worth at approximately $5.50 per share based on peer valuations. The report compared loanDepot’s servicing portfolio to competitors like Mr. Cooper, highlighting the company’s $116-117.5 billion unpaid principal balance. Meanwhile, BTIG initiated coverage on loanDepot with a Neutral rating, recognizing it as a top-20 mortgage lender with a $118 billion servicing portfolio. These developments reflect ongoing interest and strategic changes within the company.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.