Slide 1: 4Q 2024 Investor Presentation
4Q 2024 INVESTOR PRESENTATION March 11, 2025
Slide 2: Disclaimer
DISCLAIMER Forward-Looking Statements and Other Information This presentation and the related management commentary contain, and responses to investor questions may contain, forward-looking statements that can be identified by the fact that they do not relate strictly to historical or current facts
Slide 3: We make the American Dream of home possible
We make the American Dream of home possible. Partnering with homeowners throughout the lifecycle of the homeownership journey. Finding An Agent Serving the Buyer Supporting The Servicing the Mortgage Optimizing the Journey Managing the Purchase Home First Time HELOC Local Building Homebuyer Title So
Slide 4: Fourth Quarter Fact Sheet
FOURTH QUARTER FACT SHEET • Originations: $7.2 billion in funded volume, on the high-end fourth quarter 2024 guidance • Total Revenue: $257.5 million on $5.6 billion of pull-through weighted lock volume; Adjusted revenue of $266.6 million • Total Expenses: Increased by $39.0 million, or ~12% from th
Slide 5: Diverse & Experienced Management Team with Unique Skillsets
DIVERSE & EXPERIENCED MANAGEMENT TEAM WITH UNIQUE SKILLSETS Anthony Hsieh Frank Martell David Hayes Jeff Walsh Dan Binowitz Jeff DerGurahian Executive Chairman of President and CEO Chief Financial Officer President, LDI Mortgage Managing Director Chief Investment Officer and Mortgage Originations Se
Slide 6: Scaled Originator Delivering Customers a Complete Solution
SCALED ORIGINATOR DELIVERING CUSTOMERS A COMPLETE SOLUTION 2010 Established Scalable 2013 Diversification 2016 Brand, Technology & 2022 Project to to & Expansion to To Vision 2025 2025+ 2012 Infrastructure 2015 2021 Operational Transformation 2024 North Star • Launched with the goal of • Expanded in
Slide 7: Origination Growth Relative to Industry
ORIGINATION GROWTH RELATIVE TO INDUSTRY Total Market 2.9% 3.1% 2.4% 2.1% 1.6% 1.7% 1.5% 1.5% 1.5% 1.2% 1.4% 1.4% 1.5% Share (%)(1) ($ in billions)$60 400 329 334 350 $50 322 293 296 281 285 300 274 $40 250 221 226 213 203 $30 200 150 150 $20 100 $10 50 $23 $29 $20 $22 $12 $16 $9 $10 $4 $6 $5 $5 $6 $
Slide 8: Historical Cost Structure Comparison ($M)
HISTORICAL COST STRUCTURE COMPARISON ($M) 4,675 4,615 $53 $45 $47 $44 $45 $96 $76 Direct Origination Expense $79 $81 4,250 $45 4,246 Commissions 4,188 $23 $21 Marketing $22 $17 $18 $36 $37 $31 $97 $28 $98 $28 $96 $107 $108 Other Interest $45 $54 $56 $36 $36 Other G&A Non-Volume Volume Related Non-Vo
Slide 9: Historical Servicing Portfolio Trend
HISTORICAL SERVICING PORTFOLIO TREND ($ in billions) Portfolio @ 12/31/24 (3) 139 W.A. Coupon 3.79% 137 138 137 133 $150 140 W.A. FICO 729 120 W.A. LTV 74% $130 W.A. Age (Mths) 36.2 100 DQ Rate $110 80 60D+ 1.6% 90D+ 1.2% 60 $90 Composition 40 GSE 56.1% Gov’t 34.4% $70 20 Other 9.5% $145 $142 $114 $
Slide 10: Strong Liquidity and Balance Sheet
STRONG LIQUIDITY AND BALANCE SHEET Unrestricted Cash ($M) MSR FV / Total Equity 3.1x 3.2x 2.8x 2.7x 2.6x $661 $604 $533 $483 $422 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 11% 10% 9% Debt Obligations, net to Total Equity 8% 4.0x 7% 3.6x 3.2x 3.4x 3.3x Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 Unrestricted Cash /
Slide 11: Q1 2025 Outlook
Q1 2025 OUTLOOK* Current Market Metric Low High Conditions • Higher interest rates and home price appreciation adversely Pull-through Weighted impacts home affordability and $4.8 $5.8 Rate Lock Volume ($bn) borrower demand • Limited supply of new and resale homes adversely impacts homebuying activit
Slide 12: Appendix
loanDepot APPENDIX
Slide 13: Balance Sheet & Servicing Portfolio Highlights
BALANCE SHEET & SERVICING PORTFOLIO HIGHLIGHTS 4Q’24 vs 4Q’24 vs $ in MM except units and % 4Q ’24 3Q ’24 4Q ’23 3Q’24 4Q’23 Cash and cash equivalents $421.6 $483.0 $660.7 (12.7%) (36.2%) Loans held for sale, at fair value 2,603.7 2,790.3 2,132.9 (6.7%) 22.1% Servicing rights, at fair value 1,633.7
Slide 14: Non-GAAP Financial Reconciliation
NON-GAAP FINANCIAL RECONCILIATION ($MM) 4Q ’24 3Q ‘24 4Q ‘23 Adjusted Revenue Total Net Revenue $257.5 $314.6 $228.6 Valuation changes in in Servicing Rights, Net of Hedge 9.1 14.9 22.8 Adjusted Total Revenue $266.6 $329.5 $251.4 Net (Loss) Income ($67.5) $2.7 ($59.8) Interest Expense - Non-Funding
Slide 15: Non-GAAP Financial Reconciliation (Cont'd)
NON-GAAP FINANCIAL RECONCILIATION (CONT’D) ($MM) 4Q ’24 3Q ‘24 4Q ’23 Net Income (Loss) ($67.5) $2.7 ($59.8) Adjustments to Income Taxes 7.9 (0.3) 7.8 Tax-Effected Net Income (Loss) ($59.5) $2.3 ($52.0) Valuation changes in in Servicing Rights, Net of Hedge 9.1 14.9 22.8 Stock-Based Compensation Exp