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Jefferies Arranges $80MM Credit Facility for loanDepot

November 05, 2013, 07:27 AM
Filed Under: Lender Finance, LLC (loanDepot), one of the largest retail mortgage lenders in the U.S., announced it closed a new $80 million credit facility on Oct. 18, 2013.

loanDepot intends to use the net proceeds of the offering, along with cash on hand, to continue the growth of its mortgage servicing portfolio, further develop its origination channels and for other general corporate purposes.

Jefferies acted as arranger and Kirkland & Ellis LLP provided legal advice to loanDepot.

loanDepot, LLC (loanDepot), is the third largest private, independent retail mortgage lender in the U.S. and provides residential loans. loanDepot's current business channels include direct lending, affinity, branch retail and servicing, as well as a distributed branch purchase platform. loanDepot currently has more than 2,200 employees and more than 700 licensed loan officers serving all 50 states and is an approved seller and servicer for Fannie Mae, Freddie Mac and Ginnie Mae.

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