Is a Five-Year Old Nonbank That Services Just $21 Billion in Loans Worth Upwards of $621 Million?
November 12, 2015
loanDepot Inc. this week priced its much anticipated initial public offering, valuing its soon-to-be-listed shares – 34.5 million units in total – at $18 each or roughly $621 million, a lofty valuation for a company that owns just over $20.9 billion in mortgage servicing rights. Few in the industry are questioning loanDepot’s explosive growth since its inception five years ago, but eyebrows have been raised about the anticipated size of the deal. “It’s...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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