loanDepot has announced details of its new standalone tech campus, the mello Innovation Lab, where the loanDepot tech team will continue to expand the company’s proprietary digital-lending technology.
With loanDepot’s goal to transform the lending industry, its mello ecosystem expands its online and offline consumer relationship model, with technology that includes an intuitive Web-based consumer portal, a mobile point-of-sale system, and a fully digital mortgage loan application experience. The company says it has invested $80 million to date on its digital-first technology strategy.
“Our lending professionals and LD tech team have combined strengths to create an unstoppable force in next-gen lending,” says loanDepot CEO and Chairman Anthony Hsieh. “Our never-ending, iterative innovation process is the basis of our business strategy and our true competitive advantage.”
loanDepot says mello exists within a larger next-gen lending ecosystem that is boosted with the integration of digital-marketing tools and by third-party data enrichment that ensure greater accuracy, speed and certainty throughout the origination experience.
As reported, these digital solutions are integrated with the company’s scalable Web-based loan origination system (LOS) and are accessible to consumers, referral partners, and lending professionals via collaborative dashboards from mobile or desktop devices.
“Our new Innovation Lab is the physical incarnation of mello,” says Dominick Marchetti, chief technology officer at loanDepot. “The combination of collaborative spaces and dedicated quiet rooms will let employees work in the environment they are most comfortable and allows for a quick ignition of ideas and engaging workflow.”
The mello Innovation Lab is currently under construction and has a goal of opening at the end of 2017 or the beginning of 2018.
The mello Innovation Lab is the second major expansion of 2017. In June, the company opened 65,000-square-foot online direct-lending production center, also located in Irvine.
Additionally, in June, loanDepot unveiled its newest next-gen retail lending store in Palm Springs, Calif. The store represents the company’s commitment to giving consumers the ability to connect with a loanDepot licensed lending officer in the way that works for the individual – through various digital channels and/or in person.