Why Shares of loanDepot Are Falling Today
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
