loanDepot, a nonbank consumer lender focused on originating and selling home loans, filed on Thursday with the SEC to raise up to $100 million in an initial public offering. However, the deal size may be a placeholder for an IPO that we estimate could raise $200 million.
The Foothill Ranch, CA-based company, which was founded in 2010 and booked $790 million in net revenue for the 12 months ended June 30, 2015, plans to list on the NYSE under the symbol LDI. loanDepot filed confidentially on August 31, 2015. Morgan Stanley, Goldman Sachs, Wells Fargo Securities, Barclays and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
