Key Highlights

  • loanDepot (NYSE:LDI) slid nearly 13% to around USD 0.56 in early trading on November 9, 2026, after third-quarter 2026 figures came in below forecasts.
  • Net Revenue totaled USD 307.1 million, versus USD 337.3 million in the second quarter and roughly 6.6% under the USD 329 million consensus.
  • The Deficit grew to USD 28.7 million, or USD 0.08 per share, compared with USD 6.6 million in the previous quarter, while adjusted EBITDA dropped to USD 16.9 million.
  • During the quarter the lender sold roughly USD 10 billion of agency Mortgage servicing rights, then offloaded another USD 9 billion of government servicing rights in October.

Volume Declines Behind the Miss

The shortfall at loanDepot (NYSE:LDI) stemmed from weaker lending activity. Loan origination totals slipped 12% quarter on quarter to USD 7.05 billion, while the forward-looking lock measure, pull-through weighted, sank 15% to USD 5.6 billion. Elevated mortgage rates persisted throughout the period, restraining refinancing and muting purchase demand. Profitability per loan improved, as the pull-through weighted gain-on-sale Margin climbed 54 basis points to 399 basis points, though that could not counterbalance the lower volume. Guidance for the fourth quarter looked weaker still, with lock Volume projected between USD 3.25 billion and USD 5.25 billion and originations expected at USD 4.5 billion to USD 6.5 billion. Market Participants interpreted the outlook as evidence that pressure will persist through the winter months. Revenue was also below the USD 323.3 million reported a year earlier, which suggests the slowdown goes beyond seasonal patterns.

Asset Sales and Debt Reduction Moves

Leadership has been divesting Assets and reducing liabilities to shore up the business. The servicing rights disposals, roughly USD 10 billion and USD 9 billion, bring in cash and lessen sensitivity to rate movements, although they also trim future servicing fees. Net debt declined around USD 114 million, and the company retired USD 87 million of senior notes at an average price of 88% of par, pocketing the discount. The annualized productivity savings target was lifted to USD 25 million from USD 12 million. CEO Anthony Hsieh highlighted gains in purchase Market Share and a reworked operating model over the last year, while the finance group said it is tackling near-term debt maturities. Purchase loans represented 61% of originations, a stronger mix in a sluggish refinancing environment. These measures buy time, but the core lending operation has to return to profitable growth for the turnaround to work.

Listing Threat, Debt Deadlines and Rate Sensitivity

With the share price under USD 1.00, loanDepot (NYSE:LDI) could receive an exchange notice about continued listing if the stock stays depressed. Over the past twelve months the shares have ranged between roughly USD 0.485 and USD 3.24. The company's fortunes are closely tied to mortgage rates, so any further climb in long-dated yields would hit volumes. Debt coming due over the next few years must be refinanced or retired using asset sale proceeds and cash generation. Watch fourth-quarter lock volumes against guidance, gain-on-sale margins, progress on maturities and how the December Federal Reserve decision might move mortgage rates. An adjusted net loss of USD 30.8 million means the core Business also lost money this period.

Where Things Stand

Shares of loanDepot (NYSE:LDI) lost roughly 13% on November 9, 2026, with third-quarter revenue of USD 307.1 million falling below forecasts and the deficit reaching USD 28.7 million amid softer activity. Sales of servicing rights and note repurchases are cutting debt, but fourth-quarter guidance signals reduced activity. Mortgage rates and the handling of near-term maturities will determine the path ahead.