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Stock impact report

loanDepot, Inc. Announces Issuance of Term Notes Secured by Ginnie Mae MSRs

loanDepot, Inc. Class A (LDI) 
Company Research Source: Business Wire
IRVINE, Calif.--(BUSINESS WIRE)--loanDepot, Inc. (NYSE: LDI) (together with its subsidiaries, "loanDepot" or the "Company"), a leading provider of products and services that power the homeownership journey, today announced that it has completed the private offering of secured term notes (the “Notes”) in an aggregate principal amount of $200 million issued by the Company’s indirect subsidiary, loanDepot GMSR Master Trust (the “Issuer”). The Notes are secured by certain assets of the Issuer, including portfolio excess spread relating to mortgage servicing rights on mortgage loans underlying certain mortgage-backed securities guaranteed by Ginnie Mae.The Notes are variable rate based on SOFR plus a margin and mature on May 16, 2030, or, if maturity is extended, on May 17, 2032. Proceeds of the issuance, net of fees, were used to redeem the Series 2018-GT1 Term Notes previously issued by the Issuer and due to mature in October 2025.Nomura Securities International, Inc. (“Nomura”) serv Show less Read more
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