loanDepot Inc. has disclosed plans to make the leap from a privately owned business to a publicly traded organization.
loanDepot revealed plans for an initial public offering in a Form S-1
registration statement filed Thursday with the Securities and Exchange Commission.
As part of the transaction, loanDepot Inc. will become the parent company of loanDepot.com LLC, an accompanying announcement said.
Shares of loanDepot will trade on the New York Stock Exchange under the symbol LDI.
The five-year-old firm
didn’t disclose the number of shares to be offered and the price range for the proposed offering.
loanDepot previously reported $13.2 billion in residential loan originations last year, while it closed $14.3 billion during the first-half 2015.
As of June 30, 2015, the Foothill Ranch, California-based company serviced $16.565 billion in home loans. The total included $7.721 billion in conventional loans and $8.843 billion in government mortgages.
Staffing was previously reported at 4,300 as of mid-year 2015.
Anthony Hsieh, the 50-year-old founder, chairman and chief executive officer of loanDepot,
earned $1.8 million in total compensation during 2014, according to the SEC filing.
David Norris, president and chief operating officer, was close behind with total compensation of $1.7 million.
The SEC filing indicated that income before income taxes was $22 million last year and $69 million during the first half of this year.
