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Why Shares of loanDepot Are Falling Today

TheMotleyFool

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Why Shares of loanDepot Are Falling TodayPhoto, wide shot, wide-angle lens, Private equity firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/2b695cca-48cb-4195-802a-e3385fb90ec0.png

Shares of the mortgage company loanDepot (NYSE: LDI) dropped as much as 10% earlier this morning after the company reported earnings results for the fourth quarter and full year of 2021. As of 11:15 a.m. EST today, shares are trading about 6% down.

loanDepot reported diluted earnings per share of $0.05 on total revenue of about $705 million, both numbers that missed on analyst estimates.

Total revenue is significantly down from what the company put up in the fourth quarter of 2020, which was a particularly good time for the industry: The low-rate environment drove incredibly strong origination volume and higher gain-on-sale margins.

Source Fool.com

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