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TH E M R EP O RT | 43 O R I G I NAT I O N S E R V I C I N G A NA LY T I C S S E C O N DA R Y M A R K E T DEPARTMENT ORIGINATION ORIGINATION LOCAL EDITION P re p a re d & R e a d y t o R u n idsDoc is fully prepared to keep you in compliance with TRID. With idsDoc you can: Track and manage the LE & CD through E-Sign. Track and show investors/auditors compliance with the TRID eConsent and eDisclosure process. » » Learn more at idsDoc.com/More loanDepot Pulls IPO THE MOVE WAS EXPECTED TO RAISE $475 MILLION FOR THE COMPANY, WHICH WAS TO BE VALUED AT $2.6 BILLION. CALIFORNIA // On the day before it was set to go public, loanDepot Inc., announced it would delay its initial public offering amid volatile market conditions. According to a statement filed with the Securities and Exchange Commission in November, the lender was planning to offer 26.4 million shares of its common stock valued at $16 to $18 per share. The move was expected to raise $475 million for the company, which was to be valued at $2.6 billion. According to NASDAQ , the company planned to offer as many as 30 million shares. But just before the launch, the company announced the postpone - ment of IPO due to rough condi- tions in the market. Conditions, have, of course, been stormy on Wall Street to say the least. LoanDepot was founded in the darkest days of the recession in 2010, billing itself as an antidote to big banks that disrupted the home loan market. It has grown into the second-largest non-bank lender in a field that now claims 40 percent of the mortgage market. The IPO, for which the com- pany filed in October, was well anticipated, but given the recent underwhelming performances of IPOs among financial-technology companies, perhaps it is unsurpris- ing that the lender reacted to recent stock market news with cold feet. CEO and Chairman Anthony Hsieh, however, was considerably more optimistic a month ago, when the IPO-to-come was an- nounced. "Our vision is to deliver a diversified lending model sus- tainable in all market conditions," he said then. "We look forward to leading the development of marketplace lending through the introduction of new products and services that provide credit solu - tions for borrowers with attractive returns for investors." LoanDepot has not said when it will make a new IPO, nor whether it will offer the same shares or per-share values. "We look forward to leading the development of marketplace lending through the introduction of new products and services that provide credit solutions for borrowers with attractive returns for investors." —Anthony Hsieh, CEO and Chairman, loanDepot