loanDepot recently closed a $300 million transaction through an offering of notes by Mello Warehouse Securitization Trust 2024-1, marking the lender’s tenth successful transaction of this kind.
The MWST Notes are backed by a revolving warehouse line of credit and secured by newly originated, first-lien, fixed-rate or adjustable-rate residential mortgage loans.
These loans are originated in accordance with the criteria of Fannie Mae or Freddie Mac for the purchase of mortgage loans or in accordance with the criteria of Ginnie Mae for the guarantee of securities backed by mortgage loans and certain other eligibility criteria, loanDepot says in a release.
“This transaction further demonstrates the strength and breadth of loanDepot’s financing strategy and attractive capital raising alternatives, as we continue our focus on delivering exceptional service to our customers throughout the entirety of their homeownership journey,” says David Hayes, chief financial officer for loanDepot.
Last month loanDepot announced that it had hired U.S. Navy veteran and VA lending expert Bryan Bergjans as national director of military growth and strategy.