Direct-To-Consumer Start-Up Launches Online

Posted by Orb Staff on January 05, 2010 No Comments
Categories : Residential Mortgage

An online, direct-to-consumer lender has opened shop in Irvine, Calif. loanDepot.com, founded by industry veteran Anthony Hsieh (formerly of E*TRADE Mortgage and LendingTree Loans) in partnership with Parthenon Capital Partners, is licensed currently in 18 states.

The company plans to be approved in all 50 states by the end of the year and forecasts the creation of more than 1,000 jobs by 2013. In launching the firm, Hsieh and Parthenon Capital Partners were advised by Milestone Capital, according to a company statement.

‘loanDepot.com is built around a mission of responsible lending, with a clear focus on putting the customer first while offering industry-leading closing times,’ says Hsieh, who is also the company's CEO.

The company is an approved and registered direct lender with the U.S. Department of Housing and Urban Development and an approved, non-supervised Federal Housing Administration lender. The company's namesake Web site features a consumer-facing education center, including a free e-appraisal and property analysis, an on-demand video Q&A vault, and a home-buying and refinance guide.

SOURCE: loanDepot.com

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