loanDepot (LDI) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

COVER PAGE

COVER PAGE - shares	6 Months Ended
	Jun. 30, 2024	Aug. 05, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-40003
Entity Registrant Name	loanDepot, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-3948939
Entity Address, Address Line One	6561 Irvine Center Drive,
Entity Address, City or Town	Irvine,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92618
City Area Code	(888)
Local Phone Number	337-6888
Title of 12(b) Security	Class A Common Stock, $0.001 per value per share
Trading Symbol	LDI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001831631
Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		88,134,396
Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0
Class C
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		139,992,967
Class D
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		97,026,671

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 533,153	$ 660,707
Restricted cash	98,057	85,149
Loans held for sale, at fair value (includes $495,731 and $510,080 pledged to creditors in securitization trusts at June 30, 2024 and December 31, 2023, respectively)	2,377,987	2,132,880
Loans held for investment, at fair value (pledged to creditors in a securitization trust)	120,287	0
Derivative Asset	59,779	93,574
Servicing rights, at fair value (includes $596,140 and $617,878 pledged to creditors in securitization trusts at June 30, 2024 and December 31, 2023, respectively)	1,583,128	1,999,763
Trading securities	89,477	92,901
Property and equipment, net	64,631	70,809
Operating lease right-of-use assets	24,549	29,433
Loans eligible for repurchase	740,238	711,371
Investments in joint ventures	17,905	20,363
Other assets	233,586	254,098
Total assets	5,942,777	6,151,048
Liabilities:
Warehouse and other lines of credit	2,213,128	1,947,057
Accounts payable, accrued expenses and other liabilities	375,319	379,971
Derivative liabilities:	17,856	84,962
Liability for loans eligible for repurchase	740,238	711,371
Operating lease liability	41,896	49,192
Debt obligations, net	1,975,402	2,274,011
Total liabilities	5,363,839	5,446,564
Commitments and contingencies (Note 15)
Equity:
Preferred stock, $0.001 par value, 50,000,000 authorized, none issued at June 30, 2024 and December 31, 2023, respectively	0	0
Treasury stock at cost, 4,003,915 and 3,349,395 shares at June 30, 2024 and December 31, 2023, respectively	(17,488)	(16,493)
Additional paid-in capital	830,706	821,055
Retained deficit	(518,214)	(451,706)
Noncontrolling interest	283,605	351,303
Total equity	578,938	704,484
Total liabilities and equity	5,942,777	6,151,048
Class A
Equity:
Common stock	90	87
Class B
Equity:
Common stock	0	0
Class C
Equity:
Common stock	142	141
Class D
Equity:
Common stock	$ 97	$ 97

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Loans held for sale, at fair value	$ 2,377,987	$ 2,132,880
Servicing rights, at fair value	$ 1,583,128	$ 1,999,763
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock authorized (in shares)	50,000,000	50,000,000
Preferred stock issued (in shares)	0	0
Treasury stock (in shares)	4,003,915	3,349,395
Class A
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	2,500,000,000	2,500,000,000
Common stock issued (in shares)	89,986,725	87,377,147
Class B
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	2,500,000,000	2,500,000,000
Common stock issued (in shares)	0	0
Class C
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	2,500,000,000	2,500,000,000
Common stock issued (in shares)	141,540,233	141,234,529
Class D
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	2,500,000,000	2,500,000,000
Common stock issued (in shares)	97,026,671	97,026,671
Pledged as Collateral
Loans held for sale, at fair value	$ 495,731	$ 510,080
Servicing rights, at fair value	$ 596,140	$ 617,878

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
REVENUES:
Interest income	$ 35,052	$ 33,060	$ 65,977	$ 61,017
Interest expense	(35,683)	(32,001)	(67,349)	(59,689)
Net interest (expense) income	(631)	1,059	(1,372)	1,328
Gain on origination and sale of loans, net	166,920	154,335	282,981	262,487
Origination income, net	19,494	18,332	33,099	30,349
Servicing fee income	125,082	119,529	249,140	239,418
Change in fair value of servicing rights, net	(60,787)	(38,474)	(106,056)	(91,280)
Other income	15,312	17,052	30,383	37,432
Total net revenues	265,390	271,833	488,175	479,734
EXPENSES:
Personnel expense	141,036	157,799	275,354	298,826
Marketing and advertising expense	31,175	34,712	59,529	70,626
Direct origination expense	21,550	17,224	39,721	34,603
General and administrative expense	73,160	54,817	130,905	110,951
Occupancy expense	5,204	6,099	10,314	12,180
Depreciation and amortization	8,955	10,721	18,398	20,747
Servicing expense	8,467	5,750	16,728	10,583
Other interest expense	53,000	43,026	99,547	86,116
Total expenses	342,547	330,148	650,496	644,632
Loss before income taxes	(77,157)	(58,315)	(162,321)	(164,898)
Income tax benefit	(11,304)	(8,556)	(24,964)	(23,418)
Net loss	(65,853)	(49,759)	(137,357)	(141,480)
Net loss attributable to noncontrolling interests	(33,642)	(26,316)	(70,891)	(75,130)
Net loss attributable to loanDepot, Inc.	$ (32,211)	$ (23,443)	$ (66,466)	$ (66,350)
Loss per share:
Basic (in usd per share)	$ (0.18)	$ (0.13)	$ (0.37)	$ (0.38)
Diluted (in usd per share)	$ (0.18)	$ (0.13)	$ (0.37)	$ (0.38)
Weighted average shares outstanding:
Basic (in shares)	182,324,046	173,908,030	181,863,195	172,358,924
Diluted (in shares)	182,324,046	173,908,030	181,863,195	172,358,924

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Class A	Class C	Class A and D	Common stock Class A	Common stock Class C	Common stock Class D	Treasury Shares	Additional paid-in capital	Retained Deficit	Retained Deficit Class A	Retained Deficit Class C	Retained Deficit Class A and D	Non-controlling Interests	Non-controlling Interests Class A	Non-controlling Interests Class C	Non-controlling Interests Class A and D
Balance at beginning of period (in shares) at Dec. 31, 2022					72,497,011	145,693,119	97,026,671
Balance at beginning of period at Dec. 31, 2022	$ 921,473				$ 74	$ 146	$ 97	$ (13,282)	$ 788,601	$ (342,137)				$ 487,974
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion-related deferred taxes and adjustments	6,666								6,666
Net common stock issued under stock-based compensation plans (in shares)					5,490,379	(1,666,680)	0
Net common stock issued under stock-based compensation plans	(1,541)				$ 7	$ (2)	$ 0	(2,042)	10,999					(10,503)
Distributions to shareholders				$ 292									$ 129				$ 163
Stock-based compensation	11,678								6,348					5,330
Distributions for taxes on behalf of shareholders, net	256									138				118
Net loss	(141,480)									(66,350)				(75,130)
Balance at end of period (in shares) at Jun. 30, 2023					77,987,390	144,026,439	97,026,671
Balance at end of period at Jun. 30, 2023	797,344				$ 81	$ 144	$ 97	(15,324)	812,614	(408,220)				407,952
Balance at beginning of period (in shares) at Mar. 31, 2023					75,101,170	144,983,025	97,026,671
Balance at beginning of period at Mar. 31, 2023	841,162				$ 77	$ 145	$ 97	(13,853)	802,251	(384,843)				437,288
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion-related deferred taxes and adjustments	1,485								1,485
Net common stock issued under stock-based compensation plans (in shares)					2,886,220	(956,586)
Net common stock issued under stock-based compensation plans	(1,471)				$ 4	$ (1)		(1,471)	5,733					(5,736)
Forfeiture of dividend equivalents and accrued distributions, and unvested Class A RSUs		$ 270									$ 119				$ 151
Stock-based compensation	5,753								3,145					2,608
Distributions for taxes on behalf of shareholders, net	(96)									(53)				(43)
Net loss	(49,759)									(23,443)				(26,316)
Balance at end of period (in shares) at Jun. 30, 2023					77,987,390	144,026,439	97,026,671
Balance at end of period at Jun. 30, 2023	797,344				$ 81	$ 144	$ 97	(15,324)	812,614	(408,220)				407,952
Balance at beginning of period (in shares) at Dec. 31, 2023					84,027,752	141,234,529	97,026,671
Balance at beginning of period at Dec. 31, 2023	704,484				$ 87	$ 141	$ 97	(16,493)	821,055	(451,706)				351,303
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion-related deferred taxes and adjustments	2,120								2,120
Net common stock issued under stock-based compensation plans (in shares)					1,955,058	305,704
Net common stock issued under stock-based compensation plans	(994)				$ 3	$ 1		(995)	1,481					(1,484)
Forfeiture of dividend equivalents and accrued distributions, and unvested Class A RSUs		$ 9	$ 15								$ 4	$ 6			$ 5	$ 9
Stock-based compensation	10,753								6,050					4,703
Distributions for taxes on behalf of shareholders, net	(92)									(52)				(40)
Net loss	(137,357)									(66,466)				(70,891)
Balance at end of period (in shares) at Jun. 30, 2024					85,982,810	141,540,233	97,026,671
Balance at end of period at Jun. 30, 2024	578,938				$ 90	$ 142	$ 97	(17,488)	830,706	(518,214)				283,605
Balance at beginning of period (in shares) at Mar. 31, 2024					84,736,834	141,499,389	97,026,671
Balance at beginning of period at Mar. 31, 2024	637,342				$ 88	$ 142	$ 97	(16,916)	824,245	(486,054)				315,740
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion-related deferred taxes and adjustments	2,028								2,028
Net common stock issued under stock-based compensation plans (in shares)					1,245,976	40,844
Net common stock issued under stock-based compensation plans	(572)				$ 2			(572)	1,112					(1,114)
Forfeiture of dividend equivalents and accrued distributions, and unvested Class A RSUs			$ 8									$ 3				$ 5
Stock-based compensation	5,898								3,321					2,577
Distributions for taxes on behalf of shareholders, net	87									48				39
Net loss	(65,853)									(32,211)				(33,642)
Balance at end of period (in shares) at Jun. 30, 2024					85,982,810	141,540,233	97,026,671
Balance at end of period at Jun. 30, 2024	$ 578,938				$ 90	$ 142	$ 97	$ (17,488)	$ 830,706	$ (518,214)				$ 283,605

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical)	6 Months Ended
	Jun. 30, 2023 $ / shares
Class A and D
Dividends declared (in usd per share)	$ 0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (137,357)	$ (141,480)
Adjustments to reconcile net loss to net Cash used in operating activities
Depreciation and amortization expense	18,398	20,747
Amortization of operating lease right-of-use asset	5,046	6,788
Amortization of debt discount and debt issuance costs	6,124	3,430
Gain on origination and sale of loans	(221,912)	(187,050)
Fair value change in trading securities	587	(1,671)
(Benefit) provision for loss obligation on sold loans and servicing rights	(3,051)	12,152
Decrease in provision for deferred income taxes	(24,964)	(22,993)
Fair value change in derivative assets	56,252	(596)
Fair value change in derivative liabilities	(67,106)	(58,702)
Premium paid on derivatives	(22,457)	(40,375)
Fair value change in loans held for sale	4,291	(24,430)
Fair value change in loans held for investment	321	0
Fair value change in servicing rights	38,434	64,341
Stock-based compensation expense	10,753	11,679
Originations of loans	(10,481,454)	(11,091,542)
Proceeds from sales of loans	10,323,131	11,481,093
Proceeds from principal payments	181,587	46,785
Payments to investors for loan repurchases	(291,372)	(273,143)
Loss (gain) on extinguishment of debt	5,680	(39)
Disbursements from joint ventures	5,992	7,396
Changes in operating assets and liabilities:
Other changes in operating assets and liabilities	36,263	55,529
Net cash used in operating activities	(556,814)	(132,081)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(12,191)	(11,547)
Proceeds from sale of servicing rights	495,312	97,193
Cash flows received on trading securities	2,837	2,472
Proceeds from principal payments on loans held for investment	1,924	0
Return of capital from joint ventures	245	0
Net cash flows provided by investing activities	488,127	88,118
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings on warehouse and other lines of credit	9,837,177	10,255,564
Repayment of borrowings on warehouse and other lines of credit	(9,571,106)	(10,355,959)
Proceeds from debt obligations	1,015,251	197,949
Payments on debt obligations	(1,314,083)	(249,248)
Payments of debt issuance costs	(10,829)	(761)
Treasury stock purchased to net settle and withhold taxes on vested shares	(995)	(2,042)
Dividends and shareholder distributions	(1,374)	(1,674)
Net cash used in financing activities	(45,959)	(156,171)
Net change in cash and cash equivalents and restricted cash	(114,646)	(200,134)
Cash and cash equivalents and restricted cash at beginning of the period	745,856	980,501
Cash and cash equivalents and restricted cash at end of the period	631,210	780,367
Cash paid (received) during the period for:
Interest	152,270	162,138
Income taxes	(4)	(3,525)
Supplemental disclosure of noncash investing and financing activities
Loans transferred from held for sale to held for investment	122,532	0
Operating leases right-of-use assets obtained in exchange for lease liabilities	$ 1,356	$ 5,501

DESCRIPTION OF BUSINESS, PRESEN

DESCRIPTION OF BUSINESS, PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS, PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited consolidated financial statements were prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation were included. The results of operations for the three and six months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. For further information, refer to the consolidated financial statements and footnotes thereto included in the Annual Report of loanDepot, Inc. on Form 10-K for the year ended December 31, 2023 (“2023 Form 10-K”). Nature of Operations loanDepot, Inc. (together with its consolidated subsidiaries, the “Company”) was incorporated in Delaware on November 6, 2020 to facilitate the initial public offering (“IPO”) of its Class A common stock and related transactions in order to carry on the business of LD Holdings Group LLC (“LD Holdings”) and its consolidated subsidiaries. loanDepot, Inc.’s common stock began trading on the New York Stock Exchange on February 11, 2021 under the ticker symbol “LDI.” loanDepot, Inc. is a holding company and its sole material asset is its equity interest in LD Holdings. The Company engages in the originating, financing, selling, and servicing of residential mortgage loans, and engages in title, escrow, and settlement services for mortgage loan transactions. The Company derives income primarily from gains on the origination and sale of loans to investors, from loan servicing, and from fees charged for settlement services related to the origination and sale of loans. Cybersecurity Incident On January 8, 2024, the Company announced that it identified a cybersecurity incident that affected certain of the Company’s systems (the “Cybersecurity Incident”). Upon detecting unauthorized activity, the Company promptly took steps to contain and remediate the Cybersecurity Incident and initiated an investigation. The Cybersecurity Incident has now been contained. Based on the Company’s investigation findings to date, during the Cybersecurity Incident, an unauthorized third party gained access to certain sensitive personal information of approximately 16.9 million individuals stored in the Company’s systems. The Company has notified applicable regulators as required and has notified individuals in accordance with applicable law and has offered credit monitoring and identity protection services at no charge to those individuals whose sensitive personal information was identified as potentially being subject to unauthorized access. Refer to Note 15. Commitments and Contingencies for additional information regarding the Cybersecurity Incident and related litigation. During the three and six months ended June 30, 2024, the Company recognized $26.9 million and $41.6 million, respectively, of expenses related to the Cybersecurity Incident, net of insurance recoveries, which includes an accrual of $25.0 million in connection with class action litigation related to the Cybersecurity Incident. These cybersecurity related expenses are recognized in general and administrative expenses in the statements of operations. The Company maintains cybersecurity insurance coverage to limit its exposure to losses such as those related to the Cybersecurity Incident. The Company submitted claims to its cybersecurity insurers for reimbursement of some of the costs, expenses, and losses stemming from the Cybersecurity Incident. During the three and six months ended June 30, 2024, the Company has received $15.0 million of reimbursements from its cybersecurity insurers. The exact timing and amount of any additional reimbursements is not known at this time. Summary of Significant Accounting Policies Our accounting policies are described below and in Note 1- Description of Business and Summary of Significant Accounting Policies, of our audited consolidated financial statements included in our 2023 Form 10-K. Consolidation and Basis of Presentation The Company's consolidated financial statements are prepared in accordance with GAAP as codified in the FASB’s Accounting Standards Codification (“ASC”). In the opinion of management, the unaudited consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. loanDepot, Inc. is a holding company, its sole material asset is its equity interest in LD Holdings and as the sole managing member of LD Holdings, loanDepot, Inc. indirectly operates and controls all of LD Holdings’ business and affairs. LD Holdings is also a holding company and has no material assets other than its equity interests in its direct subsidiaries consisting of a 99.99% ownership in LDLLC (the majority asset of the group), and 100% equity ownership in ART, LDSS, Mello, and MCS. The financial results of LD Holdings and its subsidiaries are consolidated with loanDepot, Inc., and the consolidated net earnings or loss are allocated to noncontrolling interest to reflect the entitlement of certain members that still hold Class A holdings units in LD Holdings (“Holdco Units”) and Class C common stock of the Company, (“Continuing LLC Members”) as of the periods presented. The accompanying consolidated financial statements include all of the assets, liabilities, and results of operations of the Company and consolidated variable interest entities (“VIEs”) in which the Company is the primary beneficiary. VIEs are entities that have a total equity investment at risk that is insufficient to permit the entity to finance its activities without additional subordinated financial support, whose equity investors at risk lack the ability to control the entity's activities, or is structured with non-substantive voting rights. The Company evaluates its associations with VIEs, both at inception and when there is a change in circumstance that requires reconsideration, to determine if the Company is the primary beneficiary and consolidation is required. A primary beneficiary is defined as a variable interest holder that has a controlling financial interest. A controlling financial interest requires both: (a) the power to direct the activities that most significantly impact the VIE’s economic performance, and (b) the obligation to absorb losses or receive benefits of a VIE that could potentially be significant to the VIE. The Company has not provided financial or other support during the periods presented to any VIE that it was not previously contractually required to provide. Other entities that the Company does not consolidate, but for which it has significant influence over operating and financial policies, are accounted for using the equity method. All intercompany accounts and transactions have been eliminated in consolidation. Certain items in prior periods were reclassified to conform to the current presentation. To conform to the current period presentation, fair value change in servicing rights on the consolidated statements of cash flow includes gains or losses on the sale of mortgage servicing rights (“MSRs”). Additionally, servicing income on the consolidated statements of operations now includes amounts earned on custodial accounts that were previously included as a reduction in interest expense. The Company has evaluated subsequent events for recognition or disclosure through the date of this report and has not identified any recordable or disclosable events that were not already reported in these consolidated financial statements or notes thereto. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Management has made estimates in certain areas, including determining the fair value of loans held for sale (“LHFS”), loans held for investment (“LHFI”), servicing rights, derivative assets and derivative liabilities, trading securities, awards granted under the incentive equity plan, and determining the loan loss obligation on sold loans and MSRs. Actual results could differ from those estimates. Concentration of Risk The Company has limited its concentration in credit risk for cash by maintaining deposits in several financial institutions, which may at times exceed amounts covered by insurance provided by the Federal Deposit Insurance Corporation (“FDIC”). The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk related to cash. Due to the nature of the mortgage lending industry, changes in interest rates may significantly impact revenue from originating mortgages and subsequent sales of loans to investors, which are the primary source of income for the Company. The Company originates mortgage loans on property located throughout the United States, with loans originated for property located in California totaling approximately 18% of total loan originations for the six months ended June 30, 2024. The Company sells mortgage loans to various third-party investors. Four investors accounted for 33%, 23%, 17%, and 5% of the Company’s loan sales for the six months ended June 30, 2024. No other investors accounted for more than 5% of the loan sales for the six months ended June 30, 2024. The Company funds loans through warehouse and other lines of credit. As of June 30, 2024, 20% and 18% of the Company's warehouse lines were payable to two separate lenders. Loans Held for Investment, at Fair Value On April 24, 2024, the Company executed a securitization of a pool of approximately $150.0 million fixed-rate and adjustable-rate, performing, re-performing and non-performing residential mortgage loans, whereby the loans were transferred to statutory trust Mello Mortgage Capital Acceptance 2024-SD1 (“MMCA 2024-SD1”). The Company evaluated the sale of loans to MMCA 2024-SD1 according to ASC 860 - Transfers and Servicing and determined that the transaction does not qualify for sale treatment. As a result, it was recorded as a secured borrowing in which the loans remain on the consolidated balance sheet as loans held for investment, at fair value and the securitization debt is also recognized on the consolidated balance sheet in debt obligations, net. Deferred financing costs and debt discount related to the securitization debt are recorded in debt obligations, net on the consolidated balance sheet and amortized using the effective yield method.

FAIR VALUE

FAIR VALUE	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE The Company's consolidated financial statements include assets and liabilities that are measured based on their estimated fair values. Refer to Note 1 - Description of Business, Presentation and Summary of Significant Accounting Policies in the 2023 Form 10-K and below for information on the fair value hierarchy, valuation methodologies, and key inputs used to measure financial assets and liabilities recorded at fair value, as well as methods and assumptions used to estimate fair value disclosures for financial instruments not recorded at fair value in their entirety on a recurring basis. Loans held for investment - LHFI are valued at the best execution of either investor pricing or market pricing which is predominately driven by known inputs of discount rate, loan-to-value, note rate and delinquency status, and therefore, these LHFI are classified as Level 2. Financial Statement Items Measured at Fair Value on a Recurring Basis The following tables presents the Company’s assets and liabilities that are measured at fair value on a recurring basis by fair value hierarchy as of the dates indicated. June 30, 2024 Level 1 Level 2 Level 3 Total Fair value through net income: Assets: Loans held for sale $ — $ 2,377,987 $ — $ 2,377,987 Loans held for investment — 120,287 — 120,287 Trading securities — 89,477 — 89,477 Derivative assets: Interest rate lock commitments — — 51,826 51,826 Forward sale contracts — 542 — 542 Interest rate swap futures 3,879 — — 3,879 MBS put options — 3,532 — 3,532 Servicing rights — — 1,583,128 1,583,128 Total assets at fair value $ 3,879 $ 2,591,825 $ 1,634,954 $ 4,230,658 Liabilities: Derivative liabilities: Interest rate lock commitments $ — $ — $ 2,080 $ 2,080 Forward sale contracts — 10,894 — 10,894 Put options on treasuries 4,882 — — 4,882 Servicing rights — — 16,665 16,665 Total liabilities at fair value $ 4,882 $ 10,894 $ 18,745 $ 34,521 December 31, 2023 Level 1 Level 2 Level 3 Total Fair value through net income: Assets: Loans held for sale $ — $ 2,132,880 $ — $ 2,132,880 Trading securities — 92,901 — 92,901 Derivative assets: Interest rate lock commitments — — 49,112 49,112 Forward sale contracts — 16,610 — 16,610 Interest rate swap futures 26,476 — — 26,476 MBS put options — 1,376 — 1,376 Servicing rights — — 1,999,763 1,999,763 Total assets at fair value $ 26,476 $ 2,243,767 $ 2,048,875 $ 4,319,118 Liabilities: Derivative liabilities: Interest rate lock commitments $ — $ — $ 1,172 $ 1,172 Forward sale contracts — 83,728 — 83,728 Put options on treasuries 62 — — 62 Servicing rights — — 14,045 14,045 Total liabilities at fair value $ 62 $ 83,728 $ 15,217 $ 99,007 The following presents the changes in the Company’s assets and liabilities that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 IRLCs, net Servicing IRLCs, net Servicing Balance at beginning of period $ 50,163 $ 1,970,164 $ 47,940 $ 1,985,718 Total net gains (losses) included in: Gain on origination and sale of loans, net: Issuances and additions 93,090 66,115 190,420 114,491 Fallout (19,789) — (40,658) — Transfers of IRLC to LHFS (73,718) — (147,956) — Change in fair value (1) — (30,617) — (38,434) Sales — (439,199) — (495,312) Balance at end of period $ 49,746 $ 1,566,463 $ 49,746 $ 1,566,463 (1) The change in unrealized gains or losses relating to servicing rights still held at June 30, 2024 amounted to a net loss of $8.6 million and a net gain of $42.5 million for the three and six months ended June 30, 2024, respectively. Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 IRLCs, net Servicing IRLCs, net Servicing Balance at beginning of period $ 58,722 $ 2,016,568 $ 23,590 $ 2,025,136 Total net gains (losses) included in: Gain on origination and sale of loans, net: Issuances and additions 102,124 75,866 199,308 135,161 Fallout (26,619) — (45,007) — Transfers of IRLC to LHFS (85,179) — (128,843) — Change in fair value (1) — (8,508) — (64,341) Sales — (85,164) — (97,194) Balance at end of period $ 49,048 $ 1,998,762 $ 49,048 $ 1,998,762 (1) The change in unrealized gains or losses relating to servicing rights that were still held at June 30, 2023, amounted to net losses of $53.6 million and $44.8 million for the three and six months ended June 30, 2023, respectively. The following table presents quantitative information about the valuation techniques and unobservable inputs applied to Level 3 fair value measurements for financial instruments measured at fair value on a recurring basis: June 30, 2024 December 31, 2023 Unobservable Input Range of inputs Weighted Average (1) Range of inputs Weighted Average (1) IRLCs Pull-through rate 2.6% - 99.9% 76.2% 2.7% - 99.9% 76.7% Servicing rights Discount rate (2) 4.2% - 17.1% 6.4% 4.6% - 16.8% 6.4% Prepayment rate 5.5% - 22.5% 8.3% 5.6% - 22.4% 8.1% Cost to service (per loan) $73 - $127 $95 $72 - $126 $90 (1) Weighted average inputs are based on the committed amounts for IRLCs and the UPB of the underlying loans for servicing rights. (2) The Company estimates the fair value of MSRs using an option-adjusted spread (“OAS”) model, which projects MSR cash flows over multiple interest rate scenarios in conjunction with the Company’s prepayment model, and then discounts these cash flows at risk-adjusted rates. Financial Statement Items Measured at Fair Value on a Nonrecurring Basis The Company did not have any material assets or liabilities that were recorded at fair value on a nonrecurring basis as of June 30, 2024 or December 31, 2023. Financial Statement Items Measured at Amortized Cost The following table presents the carrying amount and estimated fair value of financial instruments included in the consolidated financial statements that are not recorded at fair value on a recurring or nonrecurring basis. The table excludes cash and cash equivalents, restricted cash, warehouse and other lines of credit, and secured debt facilities as these financial instruments are highly liquid or short-term in nature and as a result, their carrying amounts approximate fair value: June 30, 2024 December 31, 2023 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Senior Notes $ 805,291 $ 699,651 $ 989,318 $ 886,492

LOANS HELD FOR SALE, AT FAIR VA

LOANS HELD FOR SALE, AT FAIR VALUE	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
LOANS HELD FOR SALE, AT FAIR VALUE	LOANS HELD FOR SALE, AT FAIR VALUE The following table represents the unpaid principal balance of loans held for sale by product type of loan as of June 30, 2024 and December 31, 2023: June 30, December 31, Amount % Amount % Conforming - fixed $ 1,256,327 53 % $ 1,211,449 57 % Conforming - ARM 12,873 1 18,592 1 Government - fixed 860,485 37 777,860 36 Government - ARM 45,236 2 20,403 1 Other - residential mortgage loans 103,457 4 37,424 2 Other - HELOC 72,924 3 67,354 3 Total 2,351,302 100 % 2,133,082 100 % Fair value adjustment 26,685 (202) Loans held for sale, at fair value $ 2,377,987 $ 2,132,880 A summary of the changes in the balance of loans held for sale is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Balance at beginning of period $ 2,300,058 $ 2,039,367 $ 2,132,880 $ 2,373,427 Origination and purchase of loans 5,979,131 6,200,295 10,481,454 11,091,542 Sales (5,784,166) (6,046,785) (10,215,710) (11,429,204) Transfers to loans held for investment (122,532) — (122,532) — Repurchases 150,060 109,683 287,773 243,141 Principal payments (155,514) (31,688) (181,587) (46,785) Fair value gain (loss) 10,950 (14,321) (4,291) 24,430 Balance at end of period $ 2,377,987 $ 2,256,551 $ 2,377,987 $ 2,256,551 Gain on origination and sale of loans, net is comprised of the following components: Three Months Ended Six Months Ended 2024 2023 2024 2023 (Discount) premium from loan sales $ (871) $ (16,648) $ 19,324 $ (43,317) Servicing rights additions 66,115 75,866 114,491 135,161 Unrealized (losses) gains from derivative assets and liabilities (10,024) 27,097 56,185 63,157 Realized gains (losses) from derivative assets and liabilities 17,341 3,703 (45,897) (43,354) Discount points, rebates and lender paid costs 73,657 81,114 133,995 138,560 Fair value gain (loss) 10,950 (14,321) (4,291) 24,430 Recovery (provision) for loan loss obligation for loans sold 9,752 (2,476) 9,174 (12,150) Total gain on origination and sale of loans, net $ 166,920 $ 154,335 $ 282,981 $ 262,487 The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for loans held for sale. June 30, 2024 December 31, 2023 Fair value UPB Difference Fair value UPB Difference Current through 89 days delinquent $ 2,356,587 $ 2,326,381 $ 30,206 $ 2,113,106 $ 2,108,125 $ 4,980 90+ days delinquent (1) 21,400 24,921 (3,521) 19,774 24,957 (5,182) Total $ 2,377,987 $ 2,351,302 $ 26,685 $ 2,132,880 $ 2,133,082 $ (202) ( 1

LOANS HELD FOR INVESTMENT, AT F

LOANS HELD FOR INVESTMENT, AT FAIR VALUE	6 Months Ended
	Jun. 30, 2024
Transfers and Servicing [Abstract]
LOANS HELD FOR INVESTMENT, AT FAIR VALUE	LOANS HELD FOR INVESTMENT, AT FAIR VALUE During the three months ended June 30, 2024, the Company executed a securitization of a pool of fixed-rate and adjustable-rate, performing, re-performing and non-performing residential mortgage loans that was recorded as a secured borrowing in which the loans remained on the consolidated balance sheet as loans held for investment, at fair value. A summary of the changes in the balance of loans held for investment is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Balance at beginning of period $ — $ — $ — $ — Loans securitized 122,532 — 122,532 — Principal payments (1,924) — (1,924) — Fair value (loss) gain (321) — (321) — Balance at end of period $ 120,287 $ — $ 120,287 $ — The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for loans held for investment. June 30, 2024 December 31, 2023 Fair value UPB Difference Fair value UPB Difference Current through 89 days delinquent $ 119,073 $ 143,520 $ (24,447) $ — $ — $ — 90+ days delinquent (1) 1,214 4,603 (3,389) — — — Total $ 120,287 $ 148,123 $ (27,836) $ — $ — $ — ( 1 The outstanding principal balance of the servicing portfolio was comprised of the following: June 30, December 31, Agency $ 65,175,357 $ 94,243,545 Government 38,532,271 40,535,399 Other 10,570,921 10,311,255 Total servicing portfolio $ 114,278,549 $ 145,090,199 A summary of the changes in the balance of servicing rights, net of servicing rights liability is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Balance at beginning of period $ 1,970,164 $ 2,016,568 $ 1,985,718 $ 2,025,136 Servicing rights additions 66,115 75,866 114,491 135,161 Sales proceeds, net (439,199) (85,164) (495,312) (97,194) Changes in fair value: Due to changes in valuation inputs or assumptions 15,623 26,138 43,867 4,771 Due to collection/realization of cash flows (42,285) (41,619) (78,285) (76,276) Realized (losses) gains on sales of servicing rights (3,955) 6,973 (4,016) 7,164 Total changes in fair value (30,617) (8,508) (38,434) (64,341) Balance at end of period $ 1,566,463 $ 1,998,762 $ 1,566,463 $ 1,998,762 The following is a summary of the components of loan servicing fee income as reported in the Company’s consolidated statements of operations: Three Months Ended Six Months Ended 2024 2023 2024 2023 Contractual servicing fees $ 93,409 $ 95,308 $ 189,142 $ 196,440 Late, ancillary and other fees 31,673 24,221 59,998 42,978 Servicing fee income $ 125,082 $ 119,529 $ 249,140 $ 239,418 The following is a summary of the components of change in fair value of servicing rights, net as reported in the Company’s consolidated statements of operations: Three Months Ended Six Months Ended 2024 2023 2024 2023 Changes in fair value: Due to collection/realization of cash flows $ (42,285) $ (41,619) $ (78,285) $ (76,276) Due to changes in valuation inputs or assumptions 15,623 26,138 43,867 4,771 Realized (loss) gain on sale of servicing rights (3,057) 6,973 (3,013) 7,164 Net loss from derivatives hedging servicing rights (25,183) (30,014) (61,499) (26,936) Valuation changes in servicing rights, net of hedging gains and losses (12,617) 3,097 (20,645) (15,001) Other realized (losses) gains on sales of servicing rights (1) (5,885) 48 (7,126) (3) Changes in fair value of servicing rights, net $ (60,787) $ (38,474) $ (106,056) $ (91,280) (1) Includes the (provision) recovery for estimated losses and broker fees on MSR sales. The table below illustrates hypothetical changes in fair values of servicing rights, caused by assumed immediate changes to key assumptions that are used to determine fair value. June 30, December 31, Fair Value of Servicing Rights, net $ 1,566,463 $ 1,985,718 Change in Fair Value from adverse changes: Discount Rate: Increase 1% (60,210) (76,862) Increase 2% (116,958) (148,438) Cost of Servicing: Increase 10% (16,423) (20,103) Increase 20% (32,931) (40,319) Prepayment Speed: Increase 10% (16,589) (22,425) Increase 20% (32,438) (44,128) Sensitivities are hypothetical changes in fair value and cannot be extrapolated because the relationship of changes in assumptions to changes in fair value may not be linear. Also, the effect of a variation in a particular assumption is calculated without changing any other assumption, whereas a change in one factor may result in changes to another. Accordingly, no assurance can be given that actual results would be consistent with the results of these estimates. As a result, actual future changes in servicing rights values may differ significantly from those displayed above.

SERVICING RIGHTS, AT FAIR VALUE

SERVICING RIGHTS, AT FAIR VALUE	6 Months Ended
	Jun. 30, 2024
Transfers and Servicing [Abstract]
SERVICING RIGHTS, AT FAIR VALUE	LOANS HELD FOR INVESTMENT, AT FAIR VALUE During the three months ended June 30, 2024, the Company executed a securitization of a pool of fixed-rate and adjustable-rate, performing, re-performing and non-performing residential mortgage loans that was recorded as a secured borrowing in which the loans remained on the consolidated balance sheet as loans held for investment, at fair value. A summary of the changes in the balance of loans held for investment is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Balance at beginning of period $ — $ — $ — $ — Loans securitized 122,532 — 122,532 — Principal payments (1,924) — (1,924) — Fair value (loss) gain (321) — (321) — Balance at end of period $ 120,287 $ — $ 120,287 $ — The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for loans held for investment. June 30, 2024 December 31, 2023 Fair value UPB Difference Fair value UPB Difference Current through 89 days delinquent $ 119,073 $ 143,520 $ (24,447) $ — $ — $ — 90+ days delinquent (1) 1,214 4,603 (3,389) — — — Total $ 120,287 $ 148,123 $ (27,836) $ — $ — $ — ( 1 The outstanding principal balance of the servicing portfolio was comprised of the following: June 30, December 31, Agency $ 65,175,357 $ 94,243,545 Government 38,532,271 40,535,399 Other 10,570,921 10,311,255 Total servicing portfolio $ 114,278,549 $ 145,090,199 A summary of the changes in the balance of servicing rights, net of servicing rights liability is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Balance at beginning of period $ 1,970,164 $ 2,016,568 $ 1,985,718 $ 2,025,136 Servicing rights additions 66,115 75,866 114,491 135,161 Sales proceeds, net (439,199) (85,164) (495,312) (97,194) Changes in fair value: Due to changes in valuation inputs or assumptions 15,623 26,138 43,867 4,771 Due to collection/realization of cash flows (42,285) (41,619) (78,285) (76,276) Realized (losses) gains on sales of servicing rights (3,955) 6,973 (4,016) 7,164 Total changes in fair value (30,617) (8,508) (38,434) (64,341) Balance at end of period $ 1,566,463 $ 1,998,762 $ 1,566,463 $ 1,998,762 The following is a summary of the components of loan servicing fee income as reported in the Company’s consolidated statements of operations: Three Months Ended Six Months Ended 2024 2023 2024 2023 Contractual servicing fees $ 93,409 $ 95,308 $ 189,142 $ 196,440 Late, ancillary and other fees 31,673 24,221 59,998 42,978 Servicing fee income $ 125,082 $ 119,529 $ 249,140 $ 239,418 The following is a summary of the components of change in fair value of servicing rights, net as reported in the Company’s consolidated statements of operations: Three Months Ended Six Months Ended 2024 2023 2024 2023 Changes in fair value: Due to collection/realization of cash flows $ (42,285) $ (41,619) $ (78,285) $ (76,276) Due to changes in valuation inputs or assumptions 15,623 26,138 43,867 4,771 Realized (loss) gain on sale of servicing rights (3,057) 6,973 (3,013) 7,164 Net loss from derivatives hedging servicing rights (25,183) (30,014) (61,499) (26,936) Valuation changes in servicing rights, net of hedging gains and losses (12,617) 3,097 (20,645) (15,001) Other realized (losses) gains on sales of servicing rights (1) (5,885) 48 (7,126) (3) Changes in fair value of servicing rights, net $ (60,787) $ (38,474) $ (106,056) $ (91,280) (1) Includes the (provision) recovery for estimated losses and broker fees on MSR sales. The table below illustrates hypothetical changes in fair values of servicing rights, caused by assumed immediate changes to key assumptions that are used to determine fair value. June 30, December 31, Fair Value of Servicing Rights, net $ 1,566,463 $ 1,985,718 Change in Fair Value from adverse changes: Discount Rate: Increase 1% (60,210) (76,862) Increase 2% (116,958) (148,438) Cost of Servicing: Increase 10% (16,423) (20,103) Increase 20% (32,931) (40,319) Prepayment Speed: Increase 10% (16,589) (22,425) Increase 20% (32,438) (44,128) Sensitivities are hypothetical changes in fair value and cannot be extrapolated because the relationship of changes in assumptions to changes in fair value may not be linear. Also, the effect of a variation in a particular assumption is calculated without changing any other assumption, whereas a change in one factor may result in changes to another. Accordingly, no assurance can be given that actual results would be consistent with the results of these estimates. As a result, actual future changes in servicing rights values may differ significantly from those displayed above.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES Derivative instruments utilized by the Company primarily include interest rate lock commitments, forward sale contracts, mortgage-backed securities (“MBS”) put options, put options on treasuries, and interest rate swap futures. Derivative financial instruments are recognized as assets or liabilities and are measured at fair value. The Company accounts for derivatives as free-standing derivatives and does not designate any derivative financial instruments for hedge accounting. All derivative financial instruments are recognized on the consolidated balance sheets at fair value with changes in the fair values being reported in current period earnings. The Company does not use derivative financial instruments for purposes other than in support of its risk management activities. Refer to Note 1- Description of Business and Summary of Significant Accounting Policies and Note 2- Fair Value for further details on derivatives in the 2023 Form 10-K. The following summarizes the Company’s outstanding derivative instruments: Fair Value Notional Balance Sheet Location Asset Liability June 30, 2024: Interest rate lock commitments $ 2,434,372 Derivative asset, at fair value $ 51,826 $ — Interest rate lock commitments 466,170 Derivative liabilities, at fair value — 2,080 Forward sale contracts 416,552 Derivative asset, at fair value 542 — Forward sale contracts 2,402,247 Derivative liabilities, at fair value — 10,894 Put options on treasuries — Derivative asset, at fair value — — Put options on treasuries 11,550 Derivative liabilities, at fair value — 4,882 MBS put options 450,000 Derivative asset, at fair value 3,532 — MBS put options — Derivative liabilities, at fair value — — Interest rate swap futures 1,975 Derivative asset, at fair value 3,879 — Interest rate swap futures — Derivative liabilities, at fair value — — Total derivative financial instruments $ 59,779 $ 17,856 Fair Value Notional Balance Sheet Location Asset Liability December 31, 2023: Interest rate lock commitments $ 2,007,175 Derivative asset, at fair value $ 49,112 $ — Interest rate lock commitments 163,161 Derivative liabilities, at fair value — 1,172 Forward sale contracts 449,419 Derivative asset, at fair value 16,610 — Forward sale contracts 2,234,930 Derivative liabilities, at fair value — 83,728 Put options on treasuries — Derivative asset, at fair value — — Put options on treasuries 9,730 Derivative liabilities, at fair value — 62 MBS put options 200,000 Derivative asset, at fair value 1,376 — MBS put options — Derivative liabilities, at fair value — — Interest rate swap futures 3,240 Derivative asset, at fair value 26,476 — Interest rate swap futures — Derivative liabilities, at fair value — — Total derivative financial instruments $ 93,574 $ 84,962 Because many of the Company’s current derivative agreements are not exchange-traded, the Company is exposed to credit loss in the event of nonperformance by the counterparty to the agreements. The Company controls this risk through credit monitoring procedures including financial analysis, dollar limits and other monitoring procedures. The notional amount of the contracts does not represent the Company’s exposure to credit loss. The following summarizes the realized and unrealized net gains or losses on derivative financial instruments and the consolidated statements of operations line items where such gains and losses are included: Three Months Ended Six Months Ended Derivative instrument Statements of Operations Location 2024 2023 2024 2023 Interest rate lock commitments, net Gain on origination and sale of loans, net $ (417) $ (9,674) $ 1,806 $ 25,458 Forward sale contracts Gain on origination and sale of loans, net 6,286 44,183 9,747 1,047 Interest rate swap futures Gain on origination and sale of loans, net (4,757) (6,999) (7,476) (7,059) Put options Gain on origination and sale of loans, net 6,205 3,290 6,211 357 Forward sale contracts Change in fair value of servicing rights, net (8,491) (5,635) (15,046) (8,427) Interest rate swap futures Change in fair value of servicing rights, net (14,259) (10,012) (36,874) (8,773) Put options Change in fair value of servicing rights, net (2,433) (14,367) (9,579) (9,736) Total realized and unrealized (losses) gains on derivative financial instruments $ (17,866) $ 786 $ (51,211) $ (7,133)

BALANCE SHEET NETTING

BALANCE SHEET NETTING	6 Months Ended
	Jun. 30, 2024
Offsetting [Abstract]
BALANCE SHEET NETTING	BALANCE SHEET NETTING The Company has entered into agreements with counterparties, which include netting arrangements whereby the counterparties are entitled to settle their positions on a net basis. In certain circumstances, the Company is required to provide certain counterparties financial instruments and cash collateral against derivative financial instruments, warehouse and other lines of credit, or debt obligations. Cash collateral is held in margin accounts and included in restricted cash on the Company's consolidated balance sheets. The table below represents financial assets and liabilities that are subject to master netting arrangements or similar agreements categorized by financial instrument, together with corresponding financial instruments and corresponding collateral received or pledged. In circumstances where right of set off criteria is met, the related asset and liability are presented in a net position on the consolidated balance sheets. Warehouse and other lines of credit and secured debt obligations were secured by financial instruments and cash collateral with fair values that exceeded the liability amount recorded on the consolidated balance sheets as of June 30, 2024, and December 31, 2023, respectively. Refer to Note 9 – Warehouse and Other Lines of Credit for further details on cash collateral requirements. June 30, 2024 Gross amounts recognized Gross amounts offset in consolidated balance sheet Net amounts presented in consolidated balance sheet Gross amounts not offset in consolidated balance sheet Net amount Financial instruments Cash collateral Assets: Forward sale contracts $ 6,721 $ (6,179) $ 542 $ — $ (89) $ 453 MBS put options 3,534 (2) 3,532 — — 3,532 Interest rate swap futures 3,879 — 3,879 — — 3,879 Total Assets $ 14,134 $ (6,181) $ 7,953 $ — $ (89) $ 7,864 Liabilities: Forward sale contracts $ 17,073 $ (6,179) $ 10,894 $ — $ (7,775) $ 3,119 Put options on treasuries 4,882 — 4,882 — (4,882) — MBS put options 2 (2) — — — — Warehouse and other lines of credit 2,213,128 — 2,213,128 (2,213,128) — — Secured debt obligations (1) 1,174,052 — 1,174,052 (1,174,052) — — Total liabilities $ 3,409,137 $ (6,181) $ 3,402,956 $ (3,387,180) $ (12,657) $ 3,119 (1) Secured debt obligations as of June 30, 2024 included secured credit facilities, Term Notes, and other secured financings. December 31, 2023 Gross amounts recognized Gross amounts offset in consolidated balance sheets Net amounts presented in consolidated balance sheets Gross amounts not offset in consolidated balance sheets Net amount Financial instruments Cash collateral Assets: Forward sale contracts $ 33,591 $ (16,981) $ 16,610 $ — $ — $ 16,610 MBS put options 1,376 — 1,376 — — 1,376 Interest rate swap futures 26,476 — 26,476 — — 26,476 Total assets $ 61,443 $ (16,981) $ 44,462 $ — $ — $ 44,462 Liabilities: Forward sale contracts $ 100,709 $ (16,981) $ 83,728 $ — $ (60,188) $ 23,540 Put options on treasuries 62 — 62 — — 62 Warehouse and other lines of credit 1,947,057 — 1,947,057 (1,947,057) — — Secured debt obligations (1) 1,287,418 — 1,287,418 (1,287,418) — — Total liabilities $ 3,335,246 $ (16,981) $ 3,318,265 $ (3,234,475) $ (60,188) $ 23,602 (1)

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES The Company evaluates its involvement with entities to determine if these entities meet the definition of a VIE and whether the Company is the primary beneficiary and should consolidate the VIE. The Company did not provide any non-contractual financial support to VIEs for the six months ended June 30, 2024, and year ended December 31, 2023. Consolidated VIEs LD Holdings The Company is a holding company with its sole material asset being its equity interest in LD Holdings. As the sole managing member of LD Holdings, the Company indirectly operates and controls all of LD Holdings’ business and affairs. LD Holdings is considered a VIE and the financial results of LD Holdings and its subsidiaries are consolidated. A portion of net earnings or loss is allocated to noncontrolling interest to reflect the entitlement of the Continuing LLC Members. Refer to Note 11 – Equity for further details. Securitization and Special Purpose Entities (“SPEs”) The Company consolidates securitization facilities that finance mortgage loans held for sale and mortgage loans held for investment, as well as SPEs established as trusts to finance mortgage servicing rights and servicing advance receivables. Assets are transferred to a securitization or trust, which issues beneficial interests collateralized by the transferred assets, entitling the investors to specified cash flows. The Company may retain beneficial interests in the transferred assets and also holds conditional repurchase options specific to these securitizations that allow it to repurchase assets from the securitization entity. The Company’s economic exposure to loss from outstanding third-party financing is generally limited to the carrying value of the assets financed. The Company has retained risks in the securitizations including customary representations and warranties. For securitization facilities, the Company, as seller, has an option to prepay and redeem outstanding classes of issued notes after a set period of time. The Company’s exposure to these entities is primarily through its role as seller, servicer, and administrator. Servicing functions include, but are not limited to, general collection activity, preparing and furnishing statements, and loss mitigation efforts including repossession and sale of collateral. Retained interests In April 2024, the Company completed a transfer and securitization of a pool of performing, re-performing and non-performing residential mortgage loans. Pursuant to the credit risk retention requirements, mello Credit Strategies LLC, as sponsor, is required to retain at least a 5% economic interest in the credit risk of the assets collateralizing this securitization transaction. On the closing date, MCS and its wholly owned subsidiary retained a horizontal residual interest in the MMCA 2024-SD1 securitization comprised of the Class B notes and Trust Certificate. The Company determined that MCS is considered to be the primary beneficiary of the VIE as it retains all the risk and reward from the residual interest, and, therefore, the securitization trust is required to be consolidated. As of June 30, 2024, the remaining principal balance of loans transferred to the securitization trust was $148.1 million of which was 90 $4.6 million days or more past due. The table below presents a summary of the carrying value and balance sheet classification of assets and liabilities in the Company’s securitization and SPE VIEs. June 30, December 31, Assets Loans held for sale, at fair value $ 495,731 $ 510,080 Loans held for investment, at fair value 120,287 — Restricted cash 2,604 2,704 Servicing rights, at fair value 596,140 617,878 Other assets 68,581 84,524 Total $ 1,283,343 $ 1,215,186 Liabilities Warehouse and other lines of credit $ 500,000 $ 500,000 Debt obligations, net: MSR facilities 183,900 174,750 Servicing advance facilities 49,902 27,939 Term notes 200,000 200,000 Other secured financings 102,035 — Total $ 1,035,837 $ 902,689 Non-Consolidated VIEs The nature, purpose, and activities of non-consolidated VIEs currently encompass the Company’s investments in retained interests from securitizations and joint ventures. The table below presents a summary of the nonconsolidated VIEs for which the Company holds variable interests. June 30, 2024 Carrying value Maximum Total assets in VIEs Assets Liabilities Retained interests $ 89,477 $ — $ 89,477 $ 2,143,386 Investments in joint ventures 17,905 — 17,905 15,349 Total $ 107,382 $ — $ 107,382 December 31, 2023 Carrying value Maximum Total assets in VIEs Assets Liabilities Retained interests $ 92,901 $ — $ 92,901 $ 2,200,406 Investments in joint ventures 20,363 — 20,363 27,171 Total $ 113,264 $ — $ 113,264 Retained interests In 2022 and 2021, the Company completed the sale and securitization of non-owner occupied residential mortgage loans. Pursuant to the credit risk retention requirements, the Company, as sponsor, is required to retain at least a 5% economic interest in the credit risk of the assets collateralizing the securitization transactions. The retained interests represent a variable interest in the securitizations. The Company determined it was not the primary beneficiary of the VIE. The Company’s continuing involvement is limited to customary servicing obligations as servicer and servicing administrator associated with retained servicing rights and the receipt of principal and interest associated with the retained interests. The investors and the securitization trusts have no recourse to the Company’s assets; holders of the securities issued by each trust can look only to the loans owned by the trust for payment. The retained interests held by the Company are subject principally to the credit risk stemming from the underlying transferred loans. The securitization trusts used to effect these transactions are variable interest entities that the Company does not consolidate. The Company remeasures the carrying value of its retained interests at each reporting date to reflect their current fair value which is included in trading securities, at fair value on the consolidated balance sheets, with corresponding gains or losses included in other income on the consolidated statements of operations. As of June 30, 2024, the remaining principal balance of loans transferred to these securitization trusts was $2.1 billion of which $5.4 million was 90 days or more past due. Investments in joint ventures

WAREHOUSE AND OTHER LINES OF CR

WAREHOUSE AND OTHER LINES OF CREDIT	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
WAREHOUSE AND OTHER LINES OF CREDIT	WAREHOUSE AND OTHER LINES OF CREDIT At June 30, 2024, the Company was a party to eight revolving lines of credit with lenders providing $3.1 billion of warehouse and securitization facilities. The facilities are used to fund, and are secured by, residential mortgage loans held for sale. The facilities are repaid using proceeds from the sale of loans. Interest is generally payable monthly in arrears or on the repurchase date of a loan, and outstanding principal is payable upon receipt of loan sale proceeds or on the repurchase date of a loan. Outstanding principal related to a particular loan must also be repaid after the expiration of a contractual period of time or, if applicable, upon the occurrence of certain events of default with respect to the underlying loan. Interest expense is recorded to interest expense on the consolidated statements of operations. The base interest rates on the facilities bear interest at the secured overnight financing rate (“SOFR”), or other alternative base rate, plus a margin. Some of the facilities carry additional fees charged on the total line amount, commitment fees charged on the committed portion of the line, and non-usage fees charged when monthly usage falls below a certain utilization percentage. As of June 30, 2024, the interest rate was comprised of the applicable base rate plus a spread ranging from 1.37% to 2.25%. The base interest rate for warehouse facilities is subject to increase based upon the characteristics of the underlying loans collateralizing the lines of credit, including, but not limited to product type and number of days held for sale. The warehouse lines have maturities staggered throughout 2024 and through April 2025. As of June 30, 2024, there was one securitization facility with an original three year term scheduled to expire in 2024. All other warehouse lines and other lines of credit are subject to renewal based on an annual credit review conducted by the lender. Certain warehouse line lenders require the Company to maintain cash accounts with minimum required balances at all times. As of June 30, 2024 and December 31, 2023, the Company had posted a total of $7.9 million and $7.0 million, respectively, of restricted cash as collateral with our warehouse lenders and securitization facilities of which $5.3 million and $4.3 million, respectively, were the minimum required balances. Under the terms of these warehouse lines, the Company is required to maintain various covenants. As of June 30, 2024, the Company amended certain warehouse lines related to certain profitability covenants, following which the Company was in compliance with covenants under the warehouse lines. Securitization Facilities In October 2021, the Company issued notes and a class of owner trust certificates through an additional securitization facility (“2021-3 Securitization Facility”) backed by a revolving warehouse line of credit. The 2021-3 Securitization Facility is secured by first-lien, fixed-rate or adjustable-rate, residential mortgage loans originated in accordance with the criteria of Fannie Mae and Freddie Mac for the purchase of mortgage loans or in accordance with the criteria of Ginnie Mae for the guarantee of securities backed by mortgage loans. The 2021-3 Securitization Facility issued $500.0 million in notes that bear interest at SOFR, plus a margin. The 2021-3 Securitization Facility will terminate on the earlier of (i) the three-year anniversary of the initial purchase date, (ii) the Company exercising its right to optional prepayment in full, and (iii) the date of the occurrence and continuance of an event of default. The following table presents information on warehouse and securitization facilities and the outstanding balance as of June 30, 2024 and December 31, 2023: Outstanding Balance Committed Uncommitted Total Expiration June 30, December 31, Facility 1 (1) $ 400,000 $ 350,000 $ 750,000 10/25/2024 $ 404,740 $ 391,418 Facility 2 (1) 1,000 299,000 300,000 9/23/2024 251,610 155,676 Facility 3 — 225,000 225,000 4/15/2025 183,539 175,348 Facility 4 — 175,000 175,000 12/26/2024 155,129 127,052 Facility 5 (1) — 200,000 200,000 N/A — 1,638 Facility 6 (1) — 600,000 600,000 9/27/2024 452,047 359,401 Facility 7 — 300,000 300,000 9/20/2024 266,063 236,524 Facility 8 (2) 500,000 — 500,000 10/21/2024 500,000 500,000 Total $ 901,000 $ 2,149,000 $ 3,050,000 $ 2,213,128 $ 1,947,057 (1) In addition to the warehouse line, the lender provides a separate gestation facility to finance recently sold MBS up to the MBS settlement date. (2) Securitization backed by a revolving warehouse facility to finance newly originated first-lien fixed and adjustable rate mortgage loans. The following table presents information on borrowings under warehouse and securitization facilities: Three Months Ended Six Months Ended 2024 2023 2024 2023 Maximum outstanding balance during the period $ 2,292,853 $ 2,046,208 $ 2,292,853 $ 2,152,855 Average balance outstanding during the period 1,820,649 1,760,606 1,721,138 1,642,477 Collateral pledged (loans held for sale) 2,321,296 2,149,195 2,321,296 2,149,195 Weighted average interest rate during the period 7.28 % 6.99 % 7.27 % 6.81 % The following table presents the outstanding debt as of June 30, 2024 and December 31, 2023: June 30, December 31, Secured debt obligations, net: Secured credit facilities MSR facilities $ 742,897 $ 980,760 Securities financing facilities 75,277 75,994 Servicing advance facilities 49,902 27,939 Total secured credit facilities 868,076 1,084,693 Term Notes 200,000 200,000 Other secured financings 102,035 — Total secured debt obligations, net 1,170,111 1,284,693 Unsecured debt obligations, net: Senior Notes 805,291 989,318 Total debt obligations, net $ 1,975,402 $ 2,274,011 Certain of the Company’s secured debt obligations require us to satisfy financial covenants, including minimum levels of profitability, tangible net worth, liquidity, and maximum levels of consolidated leverage. The Company obtained amendments relating to certain profitability covenants. As a result, the Company was in compliance with all such financial covenants as of June 30, 2024. Secured Credit Facilities Secured credit facilities are revolving facilities collateralized by MSRs, trading securities, and servicing advances. MSR Facilities In August 2017, the Company established the GMSR Trust to finance its Ginnie Mae mortgage servicing rights through the issuance of variable funding notes or term notes. Both are secured by participation certificates representing beneficial interests in Ginnie Mae mortgage servicing rights held by the GMSR Trust with a fair value of $596.1 million as of June 30, 2024. In November 2023, the agreement was amended to provide for $175.0 million in borrowing capacity for the variable funding notes. The variable funding notes accrue interest at SOFR plus a margin per annum. The variable funding notes were scheduled to mature in January 2024. In January 2024, the Company secured a new facility to issue variable funding notes, providing $250.0 million in borrowing capacity and extending their maturity to January 2025. As of June 30, 2024, the Company had $185.3 million in outstanding variable funding notes and $1.4 million in unamortized deferred financial costs. In December 2021, the Company entered into a credit facility agreement. The agreement was amended in December 2023 to provide for $540.0 million in borrowing capacity, with an option to increase up to $600.0 million upon mutual consent, available to the Company. The facility is secured by Freddie Mac mortgage servicing rights with a fair value of $492.1 million as of June 30, 2024. The facility bears interest at SOFR, plus a margin per annum and matures in December 2024. At June 30, 2024, there was $320.0 million outstanding on this facility and $1.1 million in unamortized deferred financing costs. In January 2022, the Company entered into a credit facility agreement which provides $500.0 million in borrowing capacity. The facility is secured by Fannie Mae mortgage servicing rights with a fair value of $417.2 million as of June 30, 2024. The facility bears interest at SOFR, plus a margin per annum and matures in January 2025. At June 30, 2024, there was $240.1 million outstanding on this facility and no unamortized deferred financing costs. In July 2024, the borrowing capacity was reduced to $450.0 million and the maturity date was extended through January 2026. Securities Financing Facilities The Company has entered into master repurchase agreements to finance retained interest securities related to its securitizations. The securities financing facilities have an advance rate between 50% and 85% based on classes of the securities and accrue interest at a rate of 90-day SOFR, plus a margin. The securities financing facilities are secured by the trading securities, which represent retained interests in the credit risk of the assets collateralizing certain securitization transactions. As of June 30, 2024, the trading securities had a fair value of $89.5 million on the consolidated balance sheets and there were $75.3 million in securities financing facilities outstanding. Servicing Advance Facilities In September 2020, the Company, through its indirect-wholly owned subsidiary loanDepot Agency Advance Receivables Trust (the “Advance Receivables Trust”), entered into a variable funding note facility for the financing of servicing advance receivables with respect to residential mortgage loans serviced by it on behalf of Fannie Mae and Freddie Mac. Pursuant to an indenture, the Advance Receivables Trust can issue up to $100.0 million in variable funding notes (the “2020-VF1 Notes”). The 2020-VF1 Notes accrue interest at SOFR, plus a margin per annum and mature in September 2024 (unless earlier redeemed in accordance with their terms). At June 30, 2024, there was $17.2 million in 2020-VF1 Notes outstanding, with pledged servicing advances of $20.1 million. In November 2021, the Company, through the GMSR Trust, issued variable funding notes secured by principal and interest advance receivables and servicing advance receivables related to residential mortgage loans serviced on behalf of Ginnie Mae. These variable funding notes bear interest at SOFR plus a margin per annum and were scheduled to mature in January 2024. In January 2024, the Company secured a new facility to issue up to $250.0 million in variable funding notes and to extend their maturity to January 2025 . As of June 30, 2024, there was $32.8 million outstanding on the variable funding notes, with pledged servicing advances of $48.5 million. Term Notes In October 2018, the Company, through the GMSR Trust issued the Series 2018-GT1 Term Notes (“Term Notes”). In September 2023, the Term Notes were extended to mature in October 2025 and accrue interest at SOFR plus a margin per annum. At June 30, 2024, there was $200.0 million in Term Notes outstanding and no unamortized deferred financing costs. Other Secured Financings On April 24, 2024, the Company executed a securitization of a pool of approximately $150.0 million fixed-rate and adjustable-rate, performing, re-performing and non-performing residential mortgage loans, whereby the loans were transferred to statutory trust MMCA 2024-SD1. The Company evaluated the sale of loans according to ASC 860 - Transfers and Servicing and determined that the transaction does not qualify for sale treatment. As a result, the securitization was recorded as a secured borrowing in which the loans remain on the consolidated balance sheet as loans held for investment, at fair value and the securitization debt is also recognized on the consolidated balance sheet in debt obligations, net. The secured financing is collateralized by and indexed to the pool of residential mortgage loans held by a VIE. As of June 30, 2024, there was $102.0 million outstanding in other secured financings, net of $9.2 million in debt discount and $1.4 million in unamortized deferred financing costs. Senior Notes In October 2020, the Company issued $500.0 million in aggregate principal amount of 6.50% unsecured senior notes due 2025, (the “2025 Senior Notes”). The 2025 Senior Notes will mature on November 1, 2025. Interest on the 2025 Senior Notes accrues at a rate of 6.50% per annum, payable semi-annually in arrears on May 1 and November 1 of each year. The Company may redeem the 2025 Senior Notes, in whole or in part, at various redemption prices. In June 2024, the Company completed an offer to exchange any and all of the outstanding 2025 Senior Notes for newly issued Senior Secured Notes due 2027 (the “2027 Senior Notes”). The offer was an exchange for a mixed consideration of $1,100 in cash and principal amount of 2027 Senior Notes for each $1,000 principal amount of 2025 Senior Notes tendered at or prior to the expiration date. At the time of expiration, the Company repurchased $478.0 million of 2025 Senior Notes in exchange for $340.6 million of 2027 Senior Notes and cash of $185.0 million resulting in a loss on extinguishment of debt of $5.7 million. Interest on the 2027 Senior Notes accrues at a rate of 8.750% per annum, payable semi-annually in arrears on May 1 and November 1 of each year. The Company may redeem the 2027 Senior Notes, in whole or in part, at various redemption prices. The Company evaluated the debt exchange under the guidance in ASC 470-50 Debt - Modifications and Extinguishments. As the present value of the cash flows under the 2027 Senior Notes differed by more than 10% from the present value of the remaining cash flows under the terms of the 2025 Senior Notes, it was determined that the debt was substantially different, and therefore, the transaction was accounted for as a debt extinguishment. A loss on debt extinguishment of $5.7 million was recorded and is included in the statements of operations for the three and six months ended June 30, 2024. As of June 30, 2024, there were $19.8 million in 2025 Senior Notes outstanding and $94 thousand in unamortized deferred financing costs. As of June 30, 2024. there were $340.6 million in 2027 Senior Notes outstanding, $44.1 million of unamortized debt discount and $6.4 million in unamortized deferred financing costs. In March 2021, the Company issued $600.0 million in aggregate principal amount of 6.125% unsecured senior notes due 2028 (the “2028 Senior Notes” and together with the 2025 Senior Notes and 2027 Senior Notes, the "Senior Notes"). The 2028 Senior Notes will mature on April 1, 2028. Interest on the 2028 Senior Notes accrues at a rate of 6.125% per annum, payable semi-annually in arrears on April 1 and October 1 of each year. After April 1, 2024 the Company may redeem the 2028 Senior Notes at various redemption prices. During the first quarter of 2022, the Company repurchased $97.5 million of 2028 Senior Notes at an average purchase price of 87.9% of par, which resulted in a $10.5 million gain on extinguishment of debt recorded in other interest expense on the consolidated statement of operations. During the second quarter of 2023, the Company repurchased $0.1 million of 2028 Senior Notes at a purchase price of 60.1% of par, which resulted in a $39,000 gain on extinguishment of debt recorded in other interest expense on the consolidated statement of operations. In the third quarter of 2023, the Company repurchased $3.0 million of 2028 Senior Notes at a purchase price of 58.5% of par, resulting in a $1.2 million gain on extinguishment of debt recorded in other interest expense on the consolidated statement of operations. As of June 30, 2024, there were $499.4 million in 2028 Senior Notes outstanding and $4.0 million in unamortized deferred financing costs. Interest Expense

DEBT OBLIGATIONS

DEBT OBLIGATIONS	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
DEBT OBLIGATIONS	WAREHOUSE AND OTHER LINES OF CREDIT At June 30, 2024, the Company was a party to eight revolving lines of credit with lenders providing $3.1 billion of warehouse and securitization facilities. The facilities are used to fund, and are secured by, residential mortgage loans held for sale. The facilities are repaid using proceeds from the sale of loans. Interest is generally payable monthly in arrears or on the repurchase date of a loan, and outstanding principal is payable upon receipt of loan sale proceeds or on the repurchase date of a loan. Outstanding principal related to a particular loan must also be repaid after the expiration of a contractual period of time or, if applicable, upon the occurrence of certain events of default with respect to the underlying loan. Interest expense is recorded to interest expense on the consolidated statements of operations. The base interest rates on the facilities bear interest at the secured overnight financing rate (“SOFR”), or other alternative base rate, plus a margin. Some of the facilities carry additional fees charged on the total line amount, commitment fees charged on the committed portion of the line, and non-usage fees charged when monthly usage falls below a certain utilization percentage. As of June 30, 2024, the interest rate was comprised of the applicable base rate plus a spread ranging from 1.37% to 2.25%. The base interest rate for warehouse facilities is subject to increase based upon the characteristics of the underlying loans collateralizing the lines of credit, including, but not limited to product type and number of days held for sale. The warehouse lines have maturities staggered throughout 2024 and through April 2025. As of June 30, 2024, there was one securitization facility with an original three year term scheduled to expire in 2024. All other warehouse lines and other lines of credit are subject to renewal based on an annual credit review conducted by the lender. Certain warehouse line lenders require the Company to maintain cash accounts with minimum required balances at all times. As of June 30, 2024 and December 31, 2023, the Company had posted a total of $7.9 million and $7.0 million, respectively, of restricted cash as collateral with our warehouse lenders and securitization facilities of which $5.3 million and $4.3 million, respectively, were the minimum required balances. Under the terms of these warehouse lines, the Company is required to maintain various covenants. As of June 30, 2024, the Company amended certain warehouse lines related to certain profitability covenants, following which the Company was in compliance with covenants under the warehouse lines. Securitization Facilities In October 2021, the Company issued notes and a class of owner trust certificates through an additional securitization facility (“2021-3 Securitization Facility”) backed by a revolving warehouse line of credit. The 2021-3 Securitization Facility is secured by first-lien, fixed-rate or adjustable-rate, residential mortgage loans originated in accordance with the criteria of Fannie Mae and Freddie Mac for the purchase of mortgage loans or in accordance with the criteria of Ginnie Mae for the guarantee of securities backed by mortgage loans. The 2021-3 Securitization Facility issued $500.0 million in notes that bear interest at SOFR, plus a margin. The 2021-3 Securitization Facility will terminate on the earlier of (i) the three-year anniversary of the initial purchase date, (ii) the Company exercising its right to optional prepayment in full, and (iii) the date of the occurrence and continuance of an event of default. The following table presents information on warehouse and securitization facilities and the outstanding balance as of June 30, 2024 and December 31, 2023: Outstanding Balance Committed Uncommitted Total Expiration June 30, December 31, Facility 1 (1) $ 400,000 $ 350,000 $ 750,000 10/25/2024 $ 404,740 $ 391,418 Facility 2 (1) 1,000 299,000 300,000 9/23/2024 251,610 155,676 Facility 3 — 225,000 225,000 4/15/2025 183,539 175,348 Facility 4 — 175,000 175,000 12/26/2024 155,129 127,052 Facility 5 (1) — 200,000 200,000 N/A — 1,638 Facility 6 (1) — 600,000 600,000 9/27/2024 452,047 359,401 Facility 7 — 300,000 300,000 9/20/2024 266,063 236,524 Facility 8 (2) 500,000 — 500,000 10/21/2024 500,000 500,000 Total $ 901,000 $ 2,149,000 $ 3,050,000 $ 2,213,128 $ 1,947,057 (1) In addition to the warehouse line, the lender provides a separate gestation facility to finance recently sold MBS up to the MBS settlement date. (2) Securitization backed by a revolving warehouse facility to finance newly originated first-lien fixed and adjustable rate mortgage loans. The following table presents information on borrowings under warehouse and securitization facilities: Three Months Ended Six Months Ended 2024 2023 2024 2023 Maximum outstanding balance during the period $ 2,292,853 $ 2,046,208 $ 2,292,853 $ 2,152,855 Average balance outstanding during the period 1,820,649 1,760,606 1,721,138 1,642,477 Collateral pledged (loans held for sale) 2,321,296 2,149,195 2,321,296 2,149,195 Weighted average interest rate during the period 7.28 % 6.99 % 7.27 % 6.81 % The following table presents the outstanding debt as of June 30, 2024 and December 31, 2023: June 30, December 31, Secured debt obligations, net: Secured credit facilities MSR facilities $ 742,897 $ 980,760 Securities financing facilities 75,277 75,994 Servicing advance facilities 49,902 27,939 Total secured credit facilities 868,076 1,084,693 Term Notes 200,000 200,000 Other secured financings 102,035 — Total secured debt obligations, net 1,170,111 1,284,693 Unsecured debt obligations, net: Senior Notes 805,291 989,318 Total debt obligations, net $ 1,975,402 $ 2,274,011 Certain of the Company’s secured debt obligations require us to satisfy financial covenants, including minimum levels of profitability, tangible net worth, liquidity, and maximum levels of consolidated leverage. The Company obtained amendments relating to certain profitability covenants. As a result, the Company was in compliance with all such financial covenants as of June 30, 2024. Secured Credit Facilities Secured credit facilities are revolving facilities collateralized by MSRs, trading securities, and servicing advances. MSR Facilities In August 2017, the Company established the GMSR Trust to finance its Ginnie Mae mortgage servicing rights through the issuance of variable funding notes or term notes. Both are secured by participation certificates representing beneficial interests in Ginnie Mae mortgage servicing rights held by the GMSR Trust with a fair value of $596.1 million as of June 30, 2024. In November 2023, the agreement was amended to provide for $175.0 million in borrowing capacity for the variable funding notes. The variable funding notes accrue interest at SOFR plus a margin per annum. The variable funding notes were scheduled to mature in January 2024. In January 2024, the Company secured a new facility to issue variable funding notes, providing $250.0 million in borrowing capacity and extending their maturity to January 2025. As of June 30, 2024, the Company had $185.3 million in outstanding variable funding notes and $1.4 million in unamortized deferred financial costs. In December 2021, the Company entered into a credit facility agreement. The agreement was amended in December 2023 to provide for $540.0 million in borrowing capacity, with an option to increase up to $600.0 million upon mutual consent, available to the Company. The facility is secured by Freddie Mac mortgage servicing rights with a fair value of $492.1 million as of June 30, 2024. The facility bears interest at SOFR, plus a margin per annum and matures in December 2024. At June 30, 2024, there was $320.0 million outstanding on this facility and $1.1 million in unamortized deferred financing costs. In January 2022, the Company entered into a credit facility agreement which provides $500.0 million in borrowing capacity. The facility is secured by Fannie Mae mortgage servicing rights with a fair value of $417.2 million as of June 30, 2024. The facility bears interest at SOFR, plus a margin per annum and matures in January 2025. At June 30, 2024, there was $240.1 million outstanding on this facility and no unamortized deferred financing costs. In July 2024, the borrowing capacity was reduced to $450.0 million and the maturity date was extended through January 2026. Securities Financing Facilities The Company has entered into master repurchase agreements to finance retained interest securities related to its securitizations. The securities financing facilities have an advance rate between 50% and 85% based on classes of the securities and accrue interest at a rate of 90-day SOFR, plus a margin. The securities financing facilities are secured by the trading securities, which represent retained interests in the credit risk of the assets collateralizing certain securitization transactions. As of June 30, 2024, the trading securities had a fair value of $89.5 million on the consolidated balance sheets and there were $75.3 million in securities financing facilities outstanding. Servicing Advance Facilities In September 2020, the Company, through its indirect-wholly owned subsidiary loanDepot Agency Advance Receivables Trust (the “Advance Receivables Trust”), entered into a variable funding note facility for the financing of servicing advance receivables with respect to residential mortgage loans serviced by it on behalf of Fannie Mae and Freddie Mac. Pursuant to an indenture, the Advance Receivables Trust can issue up to $100.0 million in variable funding notes (the “2020-VF1 Notes”). The 2020-VF1 Notes accrue interest at SOFR, plus a margin per annum and mature in September 2024 (unless earlier redeemed in accordance with their terms). At June 30, 2024, there was $17.2 million in 2020-VF1 Notes outstanding, with pledged servicing advances of $20.1 million. In November 2021, the Company, through the GMSR Trust, issued variable funding notes secured by principal and interest advance receivables and servicing advance receivables related to residential mortgage loans serviced on behalf of Ginnie Mae. These variable funding notes bear interest at SOFR plus a margin per annum and were scheduled to mature in January 2024. In January 2024, the Company secured a new facility to issue up to $250.0 million in variable funding notes and to extend their maturity to January 2025 . As of June 30, 2024, there was $32.8 million outstanding on the variable funding notes, with pledged servicing advances of $48.5 million. Term Notes In October 2018, the Company, through the GMSR Trust issued the Series 2018-GT1 Term Notes (“Term Notes”). In September 2023, the Term Notes were extended to mature in October 2025 and accrue interest at SOFR plus a margin per annum. At June 30, 2024, there was $200.0 million in Term Notes outstanding and no unamortized deferred financing costs. Other Secured Financings On April 24, 2024, the Company executed a securitization of a pool of approximately $150.0 million fixed-rate and adjustable-rate, performing, re-performing and non-performing residential mortgage loans, whereby the loans were transferred to statutory trust MMCA 2024-SD1. The Company evaluated the sale of loans according to ASC 860 - Transfers and Servicing and determined that the transaction does not qualify for sale treatment. As a result, the securitization was recorded as a secured borrowing in which the loans remain on the consolidated balance sheet as loans held for investment, at fair value and the securitization debt is also recognized on the consolidated balance sheet in debt obligations, net. The secured financing is collateralized by and indexed to the pool of residential mortgage loans held by a VIE. As of June 30, 2024, there was $102.0 million outstanding in other secured financings, net of $9.2 million in debt discount and $1.4 million in unamortized deferred financing costs. Senior Notes In October 2020, the Company issued $500.0 million in aggregate principal amount of 6.50% unsecured senior notes due 2025, (the “2025 Senior Notes”). The 2025 Senior Notes will mature on November 1, 2025. Interest on the 2025 Senior Notes accrues at a rate of 6.50% per annum, payable semi-annually in arrears on May 1 and November 1 of each year. The Company may redeem the 2025 Senior Notes, in whole or in part, at various redemption prices. In June 2024, the Company completed an offer to exchange any and all of the outstanding 2025 Senior Notes for newly issued Senior Secured Notes due 2027 (the “2027 Senior Notes”). The offer was an exchange for a mixed consideration of $1,100 in cash and principal amount of 2027 Senior Notes for each $1,000 principal amount of 2025 Senior Notes tendered at or prior to the expiration date. At the time of expiration, the Company repurchased $478.0 million of 2025 Senior Notes in exchange for $340.6 million of 2027 Senior Notes and cash of $185.0 million resulting in a loss on extinguishment of debt of $5.7 million. Interest on the 2027 Senior Notes accrues at a rate of 8.750% per annum, payable semi-annually in arrears on May 1 and November 1 of each year. The Company may redeem the 2027 Senior Notes, in whole or in part, at various redemption prices. The Company evaluated the debt exchange under the guidance in ASC 470-50 Debt - Modifications and Extinguishments. As the present value of the cash flows under the 2027 Senior Notes differed by more than 10% from the present value of the remaining cash flows under the terms of the 2025 Senior Notes, it was determined that the debt was substantially different, and therefore, the transaction was accounted for as a debt extinguishment. A loss on debt extinguishment of $5.7 million was recorded and is included in the statements of operations for the three and six months ended June 30, 2024. As of June 30, 2024, there were $19.8 million in 2025 Senior Notes outstanding and $94 thousand in unamortized deferred financing costs. As of June 30, 2024. there were $340.6 million in 2027 Senior Notes outstanding, $44.1 million of unamortized debt discount and $6.4 million in unamortized deferred financing costs. In March 2021, the Company issued $600.0 million in aggregate principal amount of 6.125% unsecured senior notes due 2028 (the “2028 Senior Notes” and together with the 2025 Senior Notes and 2027 Senior Notes, the "Senior Notes"). The 2028 Senior Notes will mature on April 1, 2028. Interest on the 2028 Senior Notes accrues at a rate of 6.125% per annum, payable semi-annually in arrears on April 1 and October 1 of each year. After April 1, 2024 the Company may redeem the 2028 Senior Notes at various redemption prices. During the first quarter of 2022, the Company repurchased $97.5 million of 2028 Senior Notes at an average purchase price of 87.9% of par, which resulted in a $10.5 million gain on extinguishment of debt recorded in other interest expense on the consolidated statement of operations. During the second quarter of 2023, the Company repurchased $0.1 million of 2028 Senior Notes at a purchase price of 60.1% of par, which resulted in a $39,000 gain on extinguishment of debt recorded in other interest expense on the consolidated statement of operations. In the third quarter of 2023, the Company repurchased $3.0 million of 2028 Senior Notes at a purchase price of 58.5% of par, resulting in a $1.2 million gain on extinguishment of debt recorded in other interest expense on the consolidated statement of operations. As of June 30, 2024, there were $499.4 million in 2028 Senior Notes outstanding and $4.0 million in unamortized deferred financing costs. Interest Expense

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
EQUITY	EQUITY The Company consolidates the financial results of LD Holdings and reports noncontrolling interest related to the interests held by the Continuing LLC Members. The noncontrolling interest of $283.6 million and $351.3 million as of June 30, 2024 and December 31, 2023, respectively, represented the economic interest in LD Holdings held by the Continuing LLC Members. The Continuing LLC Members have the right to exchange one Holdco Unit and one share of Class B common stock or Class C common stock, as applicable, together for cash or one share of Class A common stock at the Company’s election, subject to customary conversion rate adjustments for stock splits, stock dividends, and reclassifications. As Continuing LLC Members convert shares, noncontrolling interest is adjusted to proportionately reduce the economic interest in LD Holdings with an offset to additional paid-in-capital on the consolidated statements of equity. The following table summarizes the ownership of LD Holdings as of June 30, 2024 and December 31, 2023. June 30, 2024 December 31, 2023 Holding Member Interests: Holdco Units Ownership Percentage Holdco Units Ownership Percentage loanDepot, Inc. 183,009,481 56.39% 181,054,423 56.18% Continuing LLC Members 141,540,233 43.61% 141,234,529 43.82% Total 324,549,714 100.00% 322,288,952 100.00%

LOSS PER SHARE

LOSS PER SHARE	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
LOSS PER SHARE	LOSS PER SHARE Basic loss per share of Class A common stock and Class D common stock is computed by dividing net loss allocated to common stockholders by the weighted-average number of shares of Class A common stock and Class D common stock, respectively, outstanding during the period. Diluted loss per share of Class A common stock and Class D common stock is computed by dividing net loss allocated to common stockholders by the weighted-average number of shares of Class A common stock and Class D common stock, respectively, outstanding adjusted to give effect to potentially dilutive securities. Diluted EPS was computed using the treasury stock method for Class A RSUs, nonqualified stock options, and ESPP shares and the if-converted method for Class C common stock. During the first quarter of 2024, the Company discontinued the ESPP Plan. There was no Class B common stock outstanding during the six months ended June 30, 2024 and 2023. The following table sets forth the calculation of basic and diluted loss per share for Class A common stock and Class D common stock: Three Months Ended Six Months Ended June 30, 2024 June 30, 2024 Class A Class D Total Class A Class D Total Net loss allocated to common stockholders $ (15,069) $ (17,142) $ (32,211) $ (31,005) $ (35,461) $ (66,466) Weighted average shares - basic 85,297,375 97,026,671 182,324,046 84,836,524 97,026,671 181,863,195 Loss per share - basic $ (0.18) $ (0.18) $ (0.18) $ (0.37) $ (0.37) $ (0.37) Diluted loss per share: Net loss allocated to common shareholders - basic $ (15,069) $ (17,142) $ (32,211) $ (31,005) $ (35,461) $ (66,466) Net loss allocated to common stockholders - diluted $ (15,069) $ (17,142) $ (32,211) $ (31,005) $ (35,461) $ (66,466) Weighted average shares - basic 85,297,375 97,026,671 182,324,046 84,836,524 97,026,671 181,863,195 Weighted average shares - diluted 85,297,375 97,026,671 182,324,046 84,836,524 97,026,671 181,863,195 Loss per share - diluted $ (0.18) $ (0.18) $ (0.18) $ (0.37) $ (0.37) $ (0.37) Three Months Ended Six Months Ended June 30, 2023 June 30, 2023 Class A Class D Total Class A Class D Total Net loss allocated to common stockholders $ (10,364) $ (13,079) $ (23,443) $ (29,000) $ (37,350) $ (66,350) Weighted average shares - basic 76,881,359 97,026,671 173,908,030 75,332,253 97,026,671 172,358,924 Loss per share - basic $ (0.13) $ (0.13) $ (0.13) $ (0.38) $ (0.38) $ (0.38) Diluted loss per share: Net loss allocated to common shareholders - diluted $ (10,364) $ (13,079) $ (23,443) $ (29,000) $ (37,350) $ (66,350) Weighted average shares - diluted 76,881,359 97,026,671 173,908,030 75,332,253 97,026,671 172,358,924 Loss per share - diluted $ (0.13) $ (0.13) $ (0.13) $ (0.38) $ (0.38) $ (0.38) The potential dilutive effect of the exchange of Class C common stock for Class A common stock is evaluated under the if-converted method. Reallocation of net income or loss attributable to the dilutive impact of the exchange of Class C common stock for Class A common stock was tax-effected using the combined federal and state rate (less federal benefit) of 26.3% and 26.3% for the three months ended June 30, 2024 and 2023, respectively, and 26.3% and 26.8%, for the six months ended June 30, 2024 and 2023, respectively. The potential dilutive effect of stock options, restricted stock units, and ESPP shares is evaluated under the treasury stock method. The following table summarizes the shares that were anti-dilutive and excluded from the computation of diluted loss per share for the presented periods. Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Class C common stock 142,907,533 148,597,745 143,089,635 149,535,576 Stock options, restricted stock units, ESPP shares (1) 12,866,147 19,795,712 13,886,414 20,902,847 Total 155,773,680 168,393,457 156,976,049 170,438,423 (1) Stock options, restricted stock units, and ESPP shares are weighted for the portion of the period for which they were outstanding.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s income tax expense varies from the expense that would be expected based on statutory rates due principally to its organizational structure. As of June 30, 2024 and December 31, 2023, the Company had a deferred tax asset before any valuation allowance of $48.7 million and $88.7 million, respectively, and a deferred tax liability of $98.3 million and $166.5 million, respectively. Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, which will result in taxable or deductible amounts in the future. The deferred tax liability as of June 30, 2024 and December 31, 2023 relates to temporary differences in the book basis as compared to the tax basis of loanDepot, Inc.’s investment in LD Holdings, net of tax benefits from future deductions for payments made under a Tax Receivable Agreement (“TRA”) as a result of the IPO. Changes in tax laws and rates may affect recorded deferred tax assets and liabilities and the Company’s effective tax rate in the future. Deferred income taxes are measured using the applicable tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on the tax rates that have been enacted at the reporting date. The Company measured its deferred tax assets and liabilities at June 30, 2024 and December 31, 2023 using the combined federal and state rate (less federal benefit) of 26.3% and 26.2%, respectively. The Company establishes a valuation allowance when it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. As of June 30, 2024 and December 31, 2023, the Company had a valuation allowance of deferred tax assets $0.3 million on tax credits that have limited carryforward periods and may expire prior to the Company being able to utilize them. The Company did not establish a valuation allowance for remaining deferred tax assets as the Company believes it is more-likely-than-not that the Company will realize the benefits of the deferred tax assets. The Company recognized a TRA liability of $58.3 million and $57.3 million as of June 30, 2024 and December 31, 2023, respectively, which represents the Company’s estimate of the aggregate amount that it will pay under the TRA, refer to Note 15- Commitments and Contingencies, for further information on the TRA liability.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS In conjunction with its joint ventures, the Company entered into agreements to provide services to the joint ventures for which it receives and pays fees. Services for which the Company earns fees are comprised of loan processing and administrative services (legal, accounting, human resources, data processing and management information, assignment processing, post-closing, underwriting, facilities management, quality control, management consulting, risk management, promotions, public relations, advertising and compliance with credit agreements). The Company also originates eligible mortgage loans referred by its joint ventures for which the Company pays the joint ventures a broker fee. Fees earned and costs incurred from joint ventures were as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Loan processing and administrative services fee income $ 4,854 $ 5,217 $ 10,018 $ 9,394 Loan origination broker fees expense 27,324 33,596 55,096 60,382 Net amounts payable to or receivable from joint ventures were as follows: June 30, December 31, Amounts payable to joint ventures $ 3,715 $ 7,876 The Company has entered into a TRA with Parthenon Stockholders and certain Continuing LLC Members. There were no payments made during the six months ended June 30, 2024 or June 30, 2023.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Escrow Services In conducting its operations, the Company, through its wholly-owned subsidiaries, LDSS and ACT, routinely hold customers' assets in escrow pending completion of real estate financing transactions. These amounts are maintained in segregated bank accounts and are offset with the related liabilities resulting in no amounts reported in the accompanying consolidated balance sheets. The balances held for the Company’s customers totaled $12.2 million and $4.3 million at June 30, 2024 and December 31, 2023, respectively. Legal Proceedings The Company is a defendant in, or a party to, legal actions related to matters that arise in connection with the conduct of the Company’s business. The Company operates in a highly regulated industry and is routinely subject to examinations, investigations, subpoenas, inquiries and reviews by various governmental and regulatory agencies. The Company seeks to resolve all litigation and regulatory matters in the manner management believes is in the best interest of the Company and contests liability, allegations of wrongdoing, and, where applicable, the amount of damages or scope of any penalties or other relief sought as appropriate in each pending matter. On at least a quarterly basis, the Company assesses its liabilities and contingencies in connection with outstanding legal and regulatory proceedings utilizing the latest information available. The Company accrues for estimated losses when they are probable to occur and such losses are reasonably estimable. Any estimated loss is subject to significant judgment and is based upon currently available information, a variety of assumptions, and known and unknown uncertainties. The actual costs of resolving these proceedings may be substantially higher or lower than the amounts accrued. Based on the Company’s current understanding of pending legal and regulatory actions and proceedings, management does not believe that possible losses in excess of the amounts accrued arising from pending or threatened legal matters, individually or in the aggregate, will have a material adverse effect on the consolidated financial position, operating results or cash flows of the Company. However, unfavorable resolutions could affect the Company’s consolidated financial position, results of operations or cash flows for the years in which they are resolved, as well as result in changes to the Company’s business practices that could ultimately have a material adverse impact on the Company’s financial position, results of operations or cash flows. Cybersecurity Incident Class Action Litigation The Company has been named as a defendant in 23 putative class action cases alleging harm from the Cybersecurity Incident and seeking various remedies, including monetary and injunctive relief. The cases have been consolidated into a single action, In re loanDepot Data Breach Litigation , pending in the Central District of California. On April 17, 2024, the Court appointed a group of five plaintiffs’ firm as lead counsel. Plaintiffs filed a consolidated complaint on June 3, 2024. On June 27, 2024, the Court granted a joint stipulation to extend the Company’s response date to the consolidated complaint, until October 1, 2024, while the parties engage in settlement discussions. During the three and six months ended June 30, 2024, the Company recorded an accrual of $25.0 million in connection with this consolidated action. The Company will continue to evaluate information as it becomes known and will record an estimate for any losses in excess of the amounts accrued at the time or times when it is both probable that a loss in excess of the amounts accrued has been incurred and the amount of the loss is reasonably estimable. Additional lawsuits and claims related to the Cybersecurity Incident may be asserted by or on behalf of others seeking damages or other related relief, and we have received inquiries and requests for information from various states and other regulators, and other government inquiries and/or investigations may be received or commenced. Losses associated with any adverse judgments, settlements, penalties or other resolutions of such proceedings could be material to the Company’s business, results of operations, financial condition or cash flows in future periods. In addition, defending against such lawsuits and allegations has resulted in and will likely continue to result in substantial costs and a diversion of management’s attention and resources. Employment Litigation On December 24, 2020, the Company received a demand letter from one of the senior members of its operations team alleging, among other things, loan origination noncompliance and various employment related claims, including hostile work environment and gender discrimination, with unspecified damages. The executive has since resigned her position with the Company. On September 21, 2021, plaintiff filed her complaint with the Superior Court of the State of California, County of Orange and an amended complaint was filed on December 21, 2021. Following the filing of motions, on June 30, 2022, the Company filed its answer and affirmative defenses to the amended complaint. The Company deposed the plaintiff and filed its Motion for Summary Adjudication on November 17, 2023. On January 31, 2024, the Court granted, in part, and denied, in part, the Company’s motion. The plaintiff’s initial demand was for damages in excess of $75.0 million. While the Company’s management believes there are substantial defenses to these allegations, defending such allegations has resulted in and will likely continue to result in substantial costs and a diversion of management’s attention and resources. Discovery in this matter is still ongoing. The Company does not believe that the amount of loss in excess of the amounts accrued is reasonably estimable in this matter at this time. Securities Class Action Litigation Beginning in September 2021, two putative class action lawsuits were filed in the United States District Court for the Central District of California asserting claims under the U.S. securities laws against the Company, certain of its directors, and certain of its officers regarding certain disclosures made in connection with the Company’s IPO. The two actions were consolidated and the court appointed a lead plaintiff in May 2022. A consolidated amended complaint was filed in June 2022, which, in addition to challenging disclosures made in connection with the IPO, alleges that certain disclosures made after the IPO were false and/or misleading. The Company’s motion to dismiss was filed on August 24, 2022. On October 11, 2022, plaintiffs filed an opposition to the Company’s motion to dismiss. The Company’s reply was submitted on November 10, 2022. On January 24, 2023, the Court granted, in part, and denied, in part, the Company’s motion to dismiss. The Company’s answer to the consolidated amended complaint was filed on March 3, 2023. On June 26, 2023, the parties reached an agreement in principle to settle the action. On July 26, 2023, plaintiffs filed a motion for preliminary approval of the settlement with the Court, which the Court granted on January 5, 2024. A hearing regarding final approval of the settlement was held on April 19, 2024. On May 24, 2024, the Court granted final approval of the settlement and entered its final judgment dismissing the action. On June 18, 2024, one of the non-lead plaintiffs filed a notice of appeal to the United States Court of Appeals for the Ninth Circuit from the district court’s order approving the settlement. Stockholder Derivative Litigation Beginning in October 2021, four shareholder derivative complaints were filed in the United States District Court for the Central District of California against certain of the Company’s directors and officers, alleging, among things, that these defendants breached their fiduciary duties by causing the Company to make the disclosures being challenged in the putative securities class action described above and seeking unspecified monetary damages for the Company and that the Company make certain changes to its corporate governance. These derivative actions subsequently were consolidated into a single action (the “California Federal Action”). The California Federal Action currently is stayed. Beginning in March 2022, two substantially similar shareholder derivative complaints were filed in the United States District Court for the District of Delaware, and then were consolidated into a single action (the “Delaware Federal Action”). The Delaware Federal Action currently is stayed. Beginning in June 2023, three substantially similar shareholder derivative complaints were filed in the Delaware Court of Chancery. Two of the derivative actions were subsequently consolidated into a single action (the “Delaware Chancery Action”). The third action was voluntarily dismissed. The Company’s response to the Delaware Chancery Action is due on August 12, 2024. The Company believes there are substantial defenses to these lawsuits. The Company does not believe that a loss is probable or that the amount of loss is reasonably estimable in this matter at this time. Telephone Consumer Protection Act Class Action In June 2022, a putative class action lawsuit was filed against the Company, captioned Jeffrey Kearns v. loanDepot.com, LLC (“Kearns”), in the United States District Court for the Central District of California. The plaintiff thereafter amended his complaint twice, on August 26, 2022, and October 3, 2023, respectively. The Second Amended Complaint (“SAC”) asserts claims under the Telephone Consumer Protection Act, 47 U.S.C. § 227 (“TCPA”), alleging the Company sent prerecorded voice calls to cellular telephones without express written consent. The SAC seeks actual and statutory damages under the TCPA, injunctive relief, and attorneys’ fees and costs. On October 23, 2023, loanDepot filed its answer to the SAC. On January 26, 2024, plaintiff filed his motion for class certification. The motion has been fully briefed and was set for hearing on June 21, 2024, however, the Court took the hearing off the calendar and advised that it would make its ruling on the briefs. The Company believes it has substantial defenses to this lawsuit and it continues to vigorously defend against it. The Company does not believe that a loss is probable or that the amount of loss is reasonably estimable in this matter at this time. Commitments to Extend Credit The Company enters into IRLCs with customers who have applied for residential mortgage loans and meet certain credit and underwriting criteria. These commitments expose the Company to market risk if interest rates change and the loan is not economically hedged or committed to an investor. The Company is also exposed to credit loss if the loan is originated and not sold to an investor and the customer does not perform. The collateral upon extension of credit typically consists of a first deed of trust in the mortgagor’s residential property. Commitments to originate loans do not necessarily reflect future cash requirements as some commitments are expected to expire without being drawn upon. Total commitments to originate loans as of June 30, 2024 and December 31, 2023 approximated $2.9 billion and $2.2 billion, respectively. These loan commitments are treated as derivatives and are carried at fair value, refer to Note 6- Derivative Financial Instruments and Hedging Activities for further information on derivatives. Loan Loss Obligation for Sold Loans When the Company sells mortgage loans, it makes customary representations and warranties to the purchasers about various characteristics of each loan such as the origination and underwriting guidelines, including but not limited to the validity of the lien securing the loan, property eligibility, borrower credit, income and asset requirements, and compliance with applicable federal, state and local law. The Company establishes a loan repurchase reserve for losses associated with repurchase loan obligations if the Company breached a representation or warranty given to the loan purchaser. Additionally, the Company’s loan loss obligation for sold loans includes an estimate for losses associated with early payoffs and early payment defaults. Charge-offs associated with early payoffs, early payment defaults and losses related to representations, warranties, and other provisions are also included. The activity related to the loan loss obligation for sold loans is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Balance at beginning of period $ 29,336 $ 65,670 $ 31,980 $ 70,797 (Recovery) provision for loan loss obligations (9,752) 2,476 (9,174) 12,150 Recoveries (charge-offs) 1,206 (14,679) (2,016) (29,480) Balance at end of period $ 20,790 $ 53,467 $ 20,790 $ 53,467 Obligation for Sold MSRs The Company recognizes sales of mortgage servicing rights as sales if title passes, if substantially all risks and rewards of ownership have irrevocably passed to the purchaser, and any protection provisions retained by the Company are minor and can be reasonably estimated. If a sale is recognized and only minor protection provisions exist, a liability for the estimated obligation associated with those provisions is recorded in accounts payable, accrued expenses and other liabilities on the consolidated balance sheet. The Company establishes a reserve related to the reimbursement of the purchase price for any loans that are prepaid in full within 90 days of the MSR sale transaction. The obligation for sold MSRs was $5.1 million and $0.5 million as of June 30, 2024 and December 31, 2023, respectively. TRA Liability

REGULATORY CAPITAL AND LIQUIDIT

REGULATORY CAPITAL AND LIQUIDITY REQUIREMENTS	6 Months Ended
	Jun. 30, 2024
Mortgage Banking [Abstract]
REGULATORY CAPITAL AND LIQUIDITY REQUIREMENTS	REGULATORY CAPITAL AND LIQUIDITY REQUIREMENTS The Company is subject to financial eligibility requirements including minimum capital and liquidity requirements established by HUD, FHFA for Fannie Mae and Freddie Mac seller/servicers, and Ginnie Mae for single family issuers. Failure to maintain minimum capital and liquidity requirements can result in FHFA and Ginnie Mae taking various remedial actions up to and including removing the Company's ability to sell loans to, or securitize loans with, and service loans on behalf of FHFA and Ginnie Mae. The most restrictive of the minimum net worth and capital requirements require the Company to maintain a minimum adjusted net worth balance of $326.9 million as of June 30, 2024. As of June 30, 2024, the Company was in compliance with its regulatory capital and liquidity requirements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net loss allocated to common stockholders	$ (32,211)	$ (23,443)	$ (66,466)	$ (66,350)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Officer Trading Arrangement [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the quarter ended June 30, 2024, no director or officer (as defined in Rule 16a-1(f) under the Exchange Act) of the Company adopted or terminated any Rule 10b5-1 trading arrangements or non-Rule 10b5-1 trading arrangements (in each case, as defined in Item 408 of Regulation S-K), except as set forth below. Name and Title Type of Plan Date Plan Adopted/ Terminated Duration Aggregate Number of Shares to be Purchased or Sold Anthony Hsieh, Director, Chairman of the Board Rule 10b5-1 trading arrangement Adopted May 30, 2024 Earliest first trade date is August 30, 2024, and the maximum duration is September 2, 2025 Sell up to 6,000,000 shares of Class A Common Stock, subject to certain conditions Jeffrey Walsh, President, LDI Mortgage Rule 10b5-1 trading arrangement Adopted May 21, 2024 Earliest first trade date is October 1, 2024, and the maximum duration is March 31, 2025 Sell up to 1,200,000 shares of Class A Common Stock, subject to certain conditions
Officer Trading Arrangement [Member] | Anthony Hsieh [Member]
Trading Arrangements, by Individual
Name	Anthony Hsieh
Title	Director, Chairman of the Board
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 30, 2024
Expiration Date	September 2, 2025
Arrangement Duration	368 days
Aggregate Available	6,000,000
Officer Trading Arrangement [Member] | Jeffrey Walsh [Member]
Trading Arrangements, by Individual
Name	Jeffrey Walsh
Title	President, LDI Mortgage
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 21, 2024
Expiration Date	March 31, 2025
Arrangement Duration	181 days
Aggregate Available	1,200,000

DESCRIPTION OF BUSINESS, PRES_2

DESCRIPTION OF BUSINESS, PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	Consolidation and Basis of Presentation The Company's consolidated financial statements are prepared in accordance with GAAP as codified in the FASB’s Accounting Standards Codification (“ASC”). In the opinion of management, the unaudited consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. loanDepot, Inc. is a holding company, its sole material asset is its equity interest in LD Holdings and as the sole managing member of LD Holdings, loanDepot, Inc. indirectly operates and controls all of LD Holdings’ business and affairs. LD Holdings is also a holding company and has no material assets other than its equity interests in its direct subsidiaries consisting of a 99.99% ownership in LDLLC (the majority asset of the group), and 100% equity ownership in ART, LDSS, Mello, and MCS. The financial results of LD Holdings and its subsidiaries are consolidated with loanDepot, Inc., and the consolidated net earnings or loss are allocated to noncontrolling interest to reflect the entitlement of certain members that still hold Class A holdings units in LD Holdings (“Holdco Units”) and Class C common stock of the Company, (“Continuing LLC Members”) as of the periods presented. The accompanying consolidated financial statements include all of the assets, liabilities, and results of operations of the Company and consolidated variable interest entities (“VIEs”) in which the Company is the primary beneficiary. VIEs are entities that have a total equity investment at risk that is insufficient to permit the entity to finance its activities without additional subordinated financial support, whose equity investors at risk lack the ability to control the entity's activities, or is structured with non-substantive voting rights. The Company evaluates its associations with VIEs, both at inception and when there is a change in circumstance that requires reconsideration, to determine if the Company is the primary beneficiary and consolidation is required. A primary beneficiary is defined as a variable interest holder that has a controlling financial interest. A controlling financial interest requires both: (a) the power to direct the activities that most significantly impact the VIE’s economic performance, and (b) the obligation to absorb losses or receive benefits of a VIE that could potentially be significant to the VIE. The Company has not provided financial or other support during the periods presented to any VIE that it was not previously contractually required to provide. Other entities that the Company does not consolidate, but for which it has significant influence over operating and financial policies, are accounted for using the equity method. All intercompany accounts and transactions have been eliminated in consolidation. Certain items in prior periods were reclassified to conform to the current presentation. To conform to the current period presentation, fair value change in servicing rights on the consolidated statements of cash flow includes gains or losses on the sale of mortgage servicing rights (“MSRs”). Additionally, servicing income on the consolidated statements of operations now includes amounts earned on custodial accounts that were previously included as a reduction in interest expense. The Company has evaluated subsequent events for recognition or disclosure through the date of this report and has not identified any recordable or disclosable events that were not already reported in these consolidated financial statements or notes thereto.
Basis of Presentation	Consolidation and Basis of Presentation The Company's consolidated financial statements are prepared in accordance with GAAP as codified in the FASB’s Accounting Standards Codification (“ASC”). In the opinion of management, the unaudited consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. loanDepot, Inc. is a holding company, its sole material asset is its equity interest in LD Holdings and as the sole managing member of LD Holdings, loanDepot, Inc. indirectly operates and controls all of LD Holdings’ business and affairs. LD Holdings is also a holding company and has no material assets other than its equity interests in its direct subsidiaries consisting of a 99.99% ownership in LDLLC (the majority asset of the group), and 100% equity ownership in ART, LDSS, Mello, and MCS. The financial results of LD Holdings and its subsidiaries are consolidated with loanDepot, Inc., and the consolidated net earnings or loss are allocated to noncontrolling interest to reflect the entitlement of certain members that still hold Class A holdings units in LD Holdings (“Holdco Units”) and Class C common stock of the Company, (“Continuing LLC Members”) as of the periods presented. The accompanying consolidated financial statements include all of the assets, liabilities, and results of operations of the Company and consolidated variable interest entities (“VIEs”) in which the Company is the primary beneficiary. VIEs are entities that have a total equity investment at risk that is insufficient to permit the entity to finance its activities without additional subordinated financial support, whose equity investors at risk lack the ability to control the entity's activities, or is structured with non-substantive voting rights. The Company evaluates its associations with VIEs, both at inception and when there is a change in circumstance that requires reconsideration, to determine if the Company is the primary beneficiary and consolidation is required. A primary beneficiary is defined as a variable interest holder that has a controlling financial interest. A controlling financial interest requires both: (a) the power to direct the activities that most significantly impact the VIE’s economic performance, and (b) the obligation to absorb losses or receive benefits of a VIE that could potentially be significant to the VIE. The Company has not provided financial or other support during the periods presented to any VIE that it was not previously contractually required to provide. Other entities that the Company does not consolidate, but for which it has significant influence over operating and financial policies, are accounted for using the equity method. All intercompany accounts and transactions have been eliminated in consolidation. Certain items in prior periods were reclassified to conform to the current presentation. To conform to the current period presentation, fair value change in servicing rights on the consolidated statements of cash flow includes gains or losses on the sale of mortgage servicing rights (“MSRs”). Additionally, servicing income on the consolidated statements of operations now includes amounts earned on custodial accounts that were previously included as a reduction in interest expense. The Company has evaluated subsequent events for recognition or disclosure through the date of this report and has not identified any recordable or disclosable events that were not already reported in these consolidated financial statements or notes thereto.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Management has made estimates in certain areas, including determining the fair value of loans held for sale (“LHFS”), loans held for investment (“LHFI”), servicing rights, derivative assets and derivative liabilities, trading securities, awards granted under the incentive equity plan, and determining the loan loss obligation on sold loans and MSRs. Actual results could differ from those estimates.
Concentration of Risk	Concentration of Risk The Company has limited its concentration in credit risk for cash by maintaining deposits in several financial institutions, which may at times exceed amounts covered by insurance provided by the Federal Deposit Insurance Corporation (“FDIC”). The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk related to cash. Due to the nature of the mortgage lending industry, changes in interest rates may significantly impact revenue from originating mortgages and subsequent sales of loans to investors, which are the primary source of income for the Company. The Company originates mortgage loans on property located throughout the United States, with loans originated for property located in California totaling approximately 18% of total loan originations for the six months ended June 30, 2024. The Company sells mortgage loans to various third-party investors. Four investors accounted for 33%, 23%, 17%, and 5% of the Company’s loan sales for the six months ended June 30, 2024. No other investors accounted for more than 5% of the loan sales for the six months ended June 30, 2024.
Loans Held for Investment, at Fair Value	Loans Held for Investment, at Fair Value On April 24, 2024, the Company executed a securitization of a pool of approximately $150.0 million fixed-rate and adjustable-rate, performing, re-performing and non-performing residential mortgage loans, whereby the loans were transferred to statutory trust Mello Mortgage Capital Acceptance 2024-SD1 (“MMCA 2024-SD1”). The Company evaluated the sale of loans to MMCA 2024-SD1 according to ASC 860 - Transfers and Servicing and determined that the transaction does not qualify for sale treatment. As a result, it was recorded as a secured borrowing in which the loans remain on the consolidated balance sheet as loans held for investment, at fair value and the securitization debt is also recognized on the consolidated balance sheet in debt obligations, net. Deferred financing costs and debt discount related to the securitization debt are recorded in debt obligations, net on the consolidated balance sheet and amortized using the effective yield method.

FAIR VALUE (Tables)

FAIR VALUE (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Financial Statement Items Measured at Fair Value on a Recurring Basis The following tables presents the Company’s assets and liabilities that are measured at fair value on a recurring basis by fair value hierarchy as of the dates indicated. June 30, 2024 Level 1 Level 2 Level 3 Total Fair value through net income: Assets: Loans held for sale $ — $ 2,377,987 $ — $ 2,377,987 Loans held for investment — 120,287 — 120,287 Trading securities — 89,477 — 89,477 Derivative assets: Interest rate lock commitments — — 51,826 51,826 Forward sale contracts — 542 — 542 Interest rate swap futures 3,879 — — 3,879 MBS put options — 3,532 — 3,532 Servicing rights — — 1,583,128 1,583,128 Total assets at fair value $ 3,879 $ 2,591,825 $ 1,634,954 $ 4,230,658 Liabilities: Derivative liabilities: Interest rate lock commitments $ — $ — $ 2,080 $ 2,080 Forward sale contracts — 10,894 — 10,894 Put options on treasuries 4,882 — — 4,882 Servicing rights — — 16,665 16,665 Total liabilities at fair value $ 4,882 $ 10,894 $ 18,745 $ 34,521 December 31, 2023 Level 1 Level 2 Level 3 Total Fair value through net income: Assets: Loans held for sale $ — $ 2,132,880 $ — $ 2,132,880 Trading securities — 92,901 — 92,901 Derivative assets: Interest rate lock commitments — — 49,112 49,112 Forward sale contracts — 16,610 — 16,610 Interest rate swap futures 26,476 — — 26,476 MBS put options — 1,376 — 1,376 Servicing rights — — 1,999,763 1,999,763 Total assets at fair value $ 26,476 $ 2,243,767 $ 2,048,875 $ 4,319,118 Liabilities: Derivative liabilities: Interest rate lock commitments $ — $ — $ 1,172 $ 1,172 Forward sale contracts — 83,728 — 83,728 Put options on treasuries 62 — — 62 Servicing rights — — 14,045 14,045 Total liabilities at fair value $ 62 $ 83,728 $ 15,217 $ 99,007
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following presents the changes in the Company’s assets and liabilities that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 IRLCs, net Servicing IRLCs, net Servicing Balance at beginning of period $ 50,163 $ 1,970,164 $ 47,940 $ 1,985,718 Total net gains (losses) included in: Gain on origination and sale of loans, net: Issuances and additions 93,090 66,115 190,420 114,491 Fallout (19,789) — (40,658) — Transfers of IRLC to LHFS (73,718) — (147,956) — Change in fair value (1) — (30,617) — (38,434) Sales — (439,199) — (495,312) Balance at end of period $ 49,746 $ 1,566,463 $ 49,746 $ 1,566,463 (1) The change in unrealized gains or losses relating to servicing rights still held at June 30, 2024 amounted to a net loss of $8.6 million and a net gain of $42.5 million for the three and six months ended June 30, 2024, respectively. Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 IRLCs, net Servicing IRLCs, net Servicing Balance at beginning of period $ 58,722 $ 2,016,568 $ 23,590 $ 2,025,136 Total net gains (losses) included in: Gain on origination and sale of loans, net: Issuances and additions 102,124 75,866 199,308 135,161 Fallout (26,619) — (45,007) — Transfers of IRLC to LHFS (85,179) — (128,843) — Change in fair value (1) — (8,508) — (64,341) Sales — (85,164) — (97,194) Balance at end of period $ 49,048 $ 1,998,762 $ 49,048 $ 1,998,762 (1)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following presents the changes in the Company’s assets and liabilities that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 IRLCs, net Servicing IRLCs, net Servicing Balance at beginning of period $ 50,163 $ 1,970,164 $ 47,940 $ 1,985,718 Total net gains (losses) included in: Gain on origination and sale of loans, net: Issuances and additions 93,090 66,115 190,420 114,491 Fallout (19,789) — (40,658) — Transfers of IRLC to LHFS (73,718) — (147,956) — Change in fair value (1) — (30,617) — (38,434) Sales — (439,199) — (495,312) Balance at end of period $ 49,746 $ 1,566,463 $ 49,746 $ 1,566,463 (1) The change in unrealized gains or losses relating to servicing rights still held at June 30, 2024 amounted to a net loss of $8.6 million and a net gain of $42.5 million for the three and six months ended June 30, 2024, respectively. Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 IRLCs, net Servicing IRLCs, net Servicing Balance at beginning of period $ 58,722 $ 2,016,568 $ 23,590 $ 2,025,136 Total net gains (losses) included in: Gain on origination and sale of loans, net: Issuances and additions 102,124 75,866 199,308 135,161 Fallout (26,619) — (45,007) — Transfers of IRLC to LHFS (85,179) — (128,843) — Change in fair value (1) — (8,508) — (64,341) Sales — (85,164) — (97,194) Balance at end of period $ 49,048 $ 1,998,762 $ 49,048 $ 1,998,762 (1)
Fair Value Measurement Inputs and Valuation Techniques	The following table presents quantitative information about the valuation techniques and unobservable inputs applied to Level 3 fair value measurements for financial instruments measured at fair value on a recurring basis: June 30, 2024 December 31, 2023 Unobservable Input Range of inputs Weighted Average (1) Range of inputs Weighted Average (1) IRLCs Pull-through rate 2.6% - 99.9% 76.2% 2.7% - 99.9% 76.7% Servicing rights Discount rate (2) 4.2% - 17.1% 6.4% 4.6% - 16.8% 6.4% Prepayment rate 5.5% - 22.5% 8.3% 5.6% - 22.4% 8.1% Cost to service (per loan) $73 - $127 $95 $72 - $126 $90 (1) Weighted average inputs are based on the committed amounts for IRLCs and the UPB of the underlying loans for servicing rights. (2)
Fair Value, Assets Not Measured on Recurring and Nonrecurring Basis	The table excludes cash and cash equivalents, restricted cash, warehouse and other lines of credit, and secured debt facilities as these financial instruments are highly liquid or short-term in nature and as a result, their carrying amounts approximate fair value: June 30, 2024 December 31, 2023 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Senior Notes $ 805,291 $ 699,651 $ 989,318 $ 886,492

LOANS HELD FOR SALE, AT FAIR _2

LOANS HELD FOR SALE, AT FAIR VALUE (Tables)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Schedule of Unpaid Principal Balance of LHFS by Type of Loan	The following table represents the unpaid principal balance of loans held for sale by product type of loan as of June 30, 2024 and December 31, 2023: June 30, December 31, Amount % Amount % Conforming - fixed $ 1,256,327 53 % $ 1,211,449 57 % Conforming - ARM 12,873 1 18,592 1 Government - fixed 860,485 37 777,860 36 Government - ARM 45,236 2 20,403 1 Other - residential mortgage loans 103,457 4 37,424 2 Other - HELOC 72,924 3 67,354 3 Total 2,351,302 100 % 2,133,082 100 % Fair value adjustment 26,685 (202) Loans held for sale, at fair value $ 2,377,987 $ 2,132,880
Summary of Changes in Balance of Loans Held For Sale	A summary of the changes in the balance of loans held for sale is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Balance at beginning of period $ 2,300,058 $ 2,039,367 $ 2,132,880 $ 2,373,427 Origination and purchase of loans 5,979,131 6,200,295 10,481,454 11,091,542 Sales (5,784,166) (6,046,785) (10,215,710) (11,429,204) Transfers to loans held for investment (122,532) — (122,532) — Repurchases 150,060 109,683 287,773 243,141 Principal payments (155,514) (31,688) (181,587) (46,785) Fair value gain (loss) 10,950 (14,321) (4,291) 24,430 Balance at end of period $ 2,377,987 $ 2,256,551 $ 2,377,987 $ 2,256,551
Components of Gain on Origination and Sale of Loans, Net	Gain on origination and sale of loans, net is comprised of the following components: Three Months Ended Six Months Ended 2024 2023 2024 2023 (Discount) premium from loan sales $ (871) $ (16,648) $ 19,324 $ (43,317) Servicing rights additions 66,115 75,866 114,491 135,161 Unrealized (losses) gains from derivative assets and liabilities (10,024) 27,097 56,185 63,157 Realized gains (losses) from derivative assets and liabilities 17,341 3,703 (45,897) (43,354) Discount points, rebates and lender paid costs 73,657 81,114 133,995 138,560 Fair value gain (loss) 10,950 (14,321) (4,291) 24,430 Recovery (provision) for loan loss obligation for loans sold 9,752 (2,476) 9,174 (12,150) Total gain on origination and sale of loans, net $ 166,920 $ 154,335 $ 282,981 $ 262,487
Debt Securities, Held-For-Sale, Past Due	The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for loans held for sale. June 30, 2024 December 31, 2023 Fair value UPB Difference Fair value UPB Difference Current through 89 days delinquent $ 2,356,587 $ 2,326,381 $ 30,206 $ 2,113,106 $ 2,108,125 $ 4,980 90+ days delinquent (1) 21,400 24,921 (3,521) 19,774 24,957 (5,182) Total $ 2,377,987 $ 2,351,302 $ 26,685 $ 2,132,880 $ 2,133,082 $ (202) ( 1

LOANS HELD FOR INVESTMENT, AT_2

LOANS HELD FOR INVESTMENT, AT FAIR VALUE (Tables)	6 Months Ended
	Jun. 30, 2024
Servicing Assets at Fair Value [Line Items]
Summary of Changes in Servicing Rights	A summary of the changes in the balance of servicing rights, net of servicing rights liability is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Balance at beginning of period $ 1,970,164 $ 2,016,568 $ 1,985,718 $ 2,025,136 Servicing rights additions 66,115 75,866 114,491 135,161 Sales proceeds, net (439,199) (85,164) (495,312) (97,194) Changes in fair value: Due to changes in valuation inputs or assumptions 15,623 26,138 43,867 4,771 Due to collection/realization of cash flows (42,285) (41,619) (78,285) (76,276) Realized (losses) gains on sales of servicing rights (3,955) 6,973 (4,016) 7,164 Total changes in fair value (30,617) (8,508) (38,434) (64,341) Balance at end of period $ 1,566,463 $ 1,998,762 $ 1,566,463 $ 1,998,762
Loans Held for Investment
Servicing Assets at Fair Value [Line Items]
Summary of Changes in Servicing Rights	A summary of the changes in the balance of loans held for investment is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Balance at beginning of period $ — $ — $ — $ — Loans securitized 122,532 — 122,532 — Principal payments (1,924) — (1,924) — Fair value (loss) gain (321) — (321) — Balance at end of period $ 120,287 $ — $ 120,287 $ —
Fair Value Option, Disclosures	The following table summarizes the difference between the aggregate fair value and the aggregate unpaid principal balance for loans held for investment. June 30, 2024 December 31, 2023 Fair value UPB Difference Fair value UPB Difference Current through 89 days delinquent $ 119,073 $ 143,520 $ (24,447) $ — $ — $ — 90+ days delinquent (1) 1,214 4,603 (3,389) — — — Total $ 120,287 $ 148,123 $ (27,836) $ — $ — $ — ( 1

SERVICING RIGHTS, AT FAIR VAL_2

SERVICING RIGHTS, AT FAIR VALUE (Tables)	6 Months Ended
	Jun. 30, 2024
Transfers and Servicing [Abstract]
Summary of Outstanding Principal Balance of Servicing Rights	The outstanding principal balance of the servicing portfolio was comprised of the following: June 30, December 31, Agency $ 65,175,357 $ 94,243,545 Government 38,532,271 40,535,399 Other 10,570,921 10,311,255 Total servicing portfolio $ 114,278,549 $ 145,090,199
Summary of Changes in Servicing Rights	A summary of the changes in the balance of servicing rights, net of servicing rights liability is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Balance at beginning of period $ 1,970,164 $ 2,016,568 $ 1,985,718 $ 2,025,136 Servicing rights additions 66,115 75,866 114,491 135,161 Sales proceeds, net (439,199) (85,164) (495,312) (97,194) Changes in fair value: Due to changes in valuation inputs or assumptions 15,623 26,138 43,867 4,771 Due to collection/realization of cash flows (42,285) (41,619) (78,285) (76,276) Realized (losses) gains on sales of servicing rights (3,955) 6,973 (4,016) 7,164 Total changes in fair value (30,617) (8,508) (38,434) (64,341) Balance at end of period $ 1,566,463 $ 1,998,762 $ 1,566,463 $ 1,998,762
Summary of Components of Loan Servicing Fee Income	The following is a summary of the components of loan servicing fee income as reported in the Company’s consolidated statements of operations: Three Months Ended Six Months Ended 2024 2023 2024 2023 Contractual servicing fees $ 93,409 $ 95,308 $ 189,142 $ 196,440 Late, ancillary and other fees 31,673 24,221 59,998 42,978 Servicing fee income $ 125,082 $ 119,529 $ 249,140 $ 239,418
Summary of Components of Changes in Fair Value of Servicing Rights	The following is a summary of the components of change in fair value of servicing rights, net as reported in the Company’s consolidated statements of operations: Three Months Ended Six Months Ended 2024 2023 2024 2023 Changes in fair value: Due to collection/realization of cash flows $ (42,285) $ (41,619) $ (78,285) $ (76,276) Due to changes in valuation inputs or assumptions 15,623 26,138 43,867 4,771 Realized (loss) gain on sale of servicing rights (3,057) 6,973 (3,013) 7,164 Net loss from derivatives hedging servicing rights (25,183) (30,014) (61,499) (26,936) Valuation changes in servicing rights, net of hedging gains and losses (12,617) 3,097 (20,645) (15,001) Other realized (losses) gains on sales of servicing rights (1) (5,885) 48 (7,126) (3) Changes in fair value of servicing rights, net $ (60,787) $ (38,474) $ (106,056) $ (91,280) (1)
Servicing Rights Sensitivity Analysis	The table below illustrates hypothetical changes in fair values of servicing rights, caused by assumed immediate changes to key assumptions that are used to determine fair value. June 30, December 31, Fair Value of Servicing Rights, net $ 1,566,463 $ 1,985,718 Change in Fair Value from adverse changes: Discount Rate: Increase 1% (60,210) (76,862) Increase 2% (116,958) (148,438) Cost of Servicing: Increase 10% (16,423) (20,103) Increase 20% (32,931) (40,319) Prepayment Speed: Increase 10% (16,589) (22,425) Increase 20% (32,438) (44,128)

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following summarizes the Company’s outstanding derivative instruments: Fair Value Notional Balance Sheet Location Asset Liability June 30, 2024: Interest rate lock commitments $ 2,434,372 Derivative asset, at fair value $ 51,826 $ — Interest rate lock commitments 466,170 Derivative liabilities, at fair value — 2,080 Forward sale contracts 416,552 Derivative asset, at fair value 542 — Forward sale contracts 2,402,247 Derivative liabilities, at fair value — 10,894 Put options on treasuries — Derivative asset, at fair value — — Put options on treasuries 11,550 Derivative liabilities, at fair value — 4,882 MBS put options 450,000 Derivative asset, at fair value 3,532 — MBS put options — Derivative liabilities, at fair value — — Interest rate swap futures 1,975 Derivative asset, at fair value 3,879 — Interest rate swap futures — Derivative liabilities, at fair value — — Total derivative financial instruments $ 59,779 $ 17,856 Fair Value Notional Balance Sheet Location Asset Liability December 31, 2023: Interest rate lock commitments $ 2,007,175 Derivative asset, at fair value $ 49,112 $ — Interest rate lock commitments 163,161 Derivative liabilities, at fair value — 1,172 Forward sale contracts 449,419 Derivative asset, at fair value 16,610 — Forward sale contracts 2,234,930 Derivative liabilities, at fair value — 83,728 Put options on treasuries — Derivative asset, at fair value — — Put options on treasuries 9,730 Derivative liabilities, at fair value — 62 MBS put options 200,000 Derivative asset, at fair value 1,376 — MBS put options — Derivative liabilities, at fair value — — Interest rate swap futures 3,240 Derivative asset, at fair value 26,476 — Interest rate swap futures — Derivative liabilities, at fair value — — Total derivative financial instruments $ 93,574 $ 84,962
Net Gains (Losses) on Derivative Financial Instruments	The following summarizes the realized and unrealized net gains or losses on derivative financial instruments and the consolidated statements of operations line items where such gains and losses are included: Three Months Ended Six Months Ended Derivative instrument Statements of Operations Location 2024 2023 2024 2023 Interest rate lock commitments, net Gain on origination and sale of loans, net $ (417) $ (9,674) $ 1,806 $ 25,458 Forward sale contracts Gain on origination and sale of loans, net 6,286 44,183 9,747 1,047 Interest rate swap futures Gain on origination and sale of loans, net (4,757) (6,999) (7,476) (7,059) Put options Gain on origination and sale of loans, net 6,205 3,290 6,211 357 Forward sale contracts Change in fair value of servicing rights, net (8,491) (5,635) (15,046) (8,427) Interest rate swap futures Change in fair value of servicing rights, net (14,259) (10,012) (36,874) (8,773) Put options Change in fair value of servicing rights, net (2,433) (14,367) (9,579) (9,736) Total realized and unrealized (losses) gains on derivative financial instruments $ (17,866) $ 786 $ (51,211) $ (7,133)

BALANCE SHEET NETTING (Tables)

BALANCE SHEET NETTING (Tables)	6 Months Ended
	Jun. 30, 2024
Offsetting [Abstract]
Offsetting Assets	The table below represents financial assets and liabilities that are subject to master netting arrangements or similar agreements categorized by financial instrument, together with corresponding financial instruments and corresponding collateral received or pledged. In circumstances where right of set off criteria is met, the related asset and liability are presented in a net position on the consolidated balance sheets. Warehouse and other lines of credit and secured debt obligations were secured by financial instruments and cash collateral with fair values that exceeded the liability amount recorded on the consolidated balance sheets as of June 30, 2024, and December 31, 2023, respectively. Refer to Note 9 – Warehouse and Other Lines of Credit for further details on cash collateral requirements. June 30, 2024 Gross amounts recognized Gross amounts offset in consolidated balance sheet Net amounts presented in consolidated balance sheet Gross amounts not offset in consolidated balance sheet Net amount Financial instruments Cash collateral Assets: Forward sale contracts $ 6,721 $ (6,179) $ 542 $ — $ (89) $ 453 MBS put options 3,534 (2) 3,532 — — 3,532 Interest rate swap futures 3,879 — 3,879 — — 3,879 Total Assets $ 14,134 $ (6,181) $ 7,953 $ — $ (89) $ 7,864 Liabilities: Forward sale contracts $ 17,073 $ (6,179) $ 10,894 $ — $ (7,775) $ 3,119 Put options on treasuries 4,882 — 4,882 — (4,882) — MBS put options 2 (2) — — — — Warehouse and other lines of credit 2,213,128 — 2,213,128 (2,213,128) — — Secured debt obligations (1) 1,174,052 — 1,174,052 (1,174,052) — — Total liabilities $ 3,409,137 $ (6,181) $ 3,402,956 $ (3,387,180) $ (12,657) $ 3,119 (1) Secured debt obligations as of June 30, 2024 included secured credit facilities, Term Notes, and other secured financings. December 31, 2023 Gross amounts recognized Gross amounts offset in consolidated balance sheets Net amounts presented in consolidated balance sheets Gross amounts not offset in consolidated balance sheets Net amount Financial instruments Cash collateral Assets: Forward sale contracts $ 33,591 $ (16,981) $ 16,610 $ — $ — $ 16,610 MBS put options 1,376 — 1,376 — — 1,376 Interest rate swap futures 26,476 — 26,476 — — 26,476 Total assets $ 61,443 $ (16,981) $ 44,462 $ — $ — $ 44,462 Liabilities: Forward sale contracts $ 100,709 $ (16,981) $ 83,728 $ — $ (60,188) $ 23,540 Put options on treasuries 62 — 62 — — 62 Warehouse and other lines of credit 1,947,057 — 1,947,057 (1,947,057) — — Secured debt obligations (1) 1,287,418 — 1,287,418 (1,287,418) — — Total liabilities $ 3,335,246 $ (16,981) $ 3,318,265 $ (3,234,475) $ (60,188) $ 23,602 (1)
Offsetting Liabilities	The table below represents financial assets and liabilities that are subject to master netting arrangements or similar agreements categorized by financial instrument, together with corresponding financial instruments and corresponding collateral received or pledged. In circumstances where right of set off criteria is met, the related asset and liability are presented in a net position on the consolidated balance sheets. Warehouse and other lines of credit and secured debt obligations were secured by financial instruments and cash collateral with fair values that exceeded the liability amount recorded on the consolidated balance sheets as of June 30, 2024, and December 31, 2023, respectively. Refer to Note 9 – Warehouse and Other Lines of Credit for further details on cash collateral requirements. June 30, 2024 Gross amounts recognized Gross amounts offset in consolidated balance sheet Net amounts presented in consolidated balance sheet Gross amounts not offset in consolidated balance sheet Net amount Financial instruments Cash collateral Assets: Forward sale contracts $ 6,721 $ (6,179) $ 542 $ — $ (89) $ 453 MBS put options 3,534 (2) 3,532 — — 3,532 Interest rate swap futures 3,879 — 3,879 — — 3,879 Total Assets $ 14,134 $ (6,181) $ 7,953 $ — $ (89) $ 7,864 Liabilities: Forward sale contracts $ 17,073 $ (6,179) $ 10,894 $ — $ (7,775) $ 3,119 Put options on treasuries 4,882 — 4,882 — (4,882) — MBS put options 2 (2) — — — — Warehouse and other lines of credit 2,213,128 — 2,213,128 (2,213,128) — — Secured debt obligations (1) 1,174,052 — 1,174,052 (1,174,052) — — Total liabilities $ 3,409,137 $ (6,181) $ 3,402,956 $ (3,387,180) $ (12,657) $ 3,119 (1) Secured debt obligations as of June 30, 2024 included secured credit facilities, Term Notes, and other secured financings. December 31, 2023 Gross amounts recognized Gross amounts offset in consolidated balance sheets Net amounts presented in consolidated balance sheets Gross amounts not offset in consolidated balance sheets Net amount Financial instruments Cash collateral Assets: Forward sale contracts $ 33,591 $ (16,981) $ 16,610 $ — $ — $ 16,610 MBS put options 1,376 — 1,376 — — 1,376 Interest rate swap futures 26,476 — 26,476 — — 26,476 Total assets $ 61,443 $ (16,981) $ 44,462 $ — $ — $ 44,462 Liabilities: Forward sale contracts $ 100,709 $ (16,981) $ 83,728 $ — $ (60,188) $ 23,540 Put options on treasuries 62 — 62 — — 62 Warehouse and other lines of credit 1,947,057 — 1,947,057 (1,947,057) — — Secured debt obligations (1) 1,287,418 — 1,287,418 (1,287,418) — — Total liabilities $ 3,335,246 $ (16,981) $ 3,318,265 $ (3,234,475) $ (60,188) $ 23,602 (1)

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Investment in VIEs	The table below presents a summary of the carrying value and balance sheet classification of assets and liabilities in the Company’s securitization and SPE VIEs. June 30, December 31, Assets Loans held for sale, at fair value $ 495,731 $ 510,080 Loans held for investment, at fair value 120,287 — Restricted cash 2,604 2,704 Servicing rights, at fair value 596,140 617,878 Other assets 68,581 84,524 Total $ 1,283,343 $ 1,215,186 Liabilities Warehouse and other lines of credit $ 500,000 $ 500,000 Debt obligations, net: MSR facilities 183,900 174,750 Servicing advance facilities 49,902 27,939 Term notes 200,000 200,000 Other secured financings 102,035 — Total $ 1,035,837 $ 902,689 June 30, 2024 Carrying value Maximum Total assets in VIEs Assets Liabilities Retained interests $ 89,477 $ — $ 89,477 $ 2,143,386 Investments in joint ventures 17,905 — 17,905 15,349 Total $ 107,382 $ — $ 107,382 December 31, 2023 Carrying value Maximum Total assets in VIEs Assets Liabilities Retained interests $ 92,901 $ — $ 92,901 $ 2,200,406 Investments in joint ventures 20,363 — 20,363 27,171 Total $ 113,264 $ — $ 113,264

WAREHOUSE AND OTHER LINES OF _2

WAREHOUSE AND OTHER LINES OF CREDIT (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	The following table presents information on warehouse and securitization facilities and the outstanding balance as of June 30, 2024 and December 31, 2023: Outstanding Balance Committed Uncommitted Total Expiration June 30, December 31, Facility 1 (1) $ 400,000 $ 350,000 $ 750,000 10/25/2024 $ 404,740 $ 391,418 Facility 2 (1) 1,000 299,000 300,000 9/23/2024 251,610 155,676 Facility 3 — 225,000 225,000 4/15/2025 183,539 175,348 Facility 4 — 175,000 175,000 12/26/2024 155,129 127,052 Facility 5 (1) — 200,000 200,000 N/A — 1,638 Facility 6 (1) — 600,000 600,000 9/27/2024 452,047 359,401 Facility 7 — 300,000 300,000 9/20/2024 266,063 236,524 Facility 8 (2) 500,000 — 500,000 10/21/2024 500,000 500,000 Total $ 901,000 $ 2,149,000 $ 3,050,000 $ 2,213,128 $ 1,947,057 (1) In addition to the warehouse line, the lender provides a separate gestation facility to finance recently sold MBS up to the MBS settlement date. (2) Securitization backed by a revolving warehouse facility to finance newly originated first-lien fixed and adjustable rate mortgage loans. The following table presents information on borrowings under warehouse and securitization facilities: Three Months Ended Six Months Ended 2024 2023 2024 2023 Maximum outstanding balance during the period $ 2,292,853 $ 2,046,208 $ 2,292,853 $ 2,152,855 Average balance outstanding during the period 1,820,649 1,760,606 1,721,138 1,642,477 Collateral pledged (loans held for sale) 2,321,296 2,149,195 2,321,296 2,149,195 Weighted average interest rate during the period 7.28 % 6.99 % 7.27 % 6.81 %

DEBT OBLIGATIONS (Tables)

DEBT OBLIGATIONS (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Information on Outstanding Debt	The following table presents the outstanding debt as of June 30, 2024 and December 31, 2023: June 30, December 31, Secured debt obligations, net: Secured credit facilities MSR facilities $ 742,897 $ 980,760 Securities financing facilities 75,277 75,994 Servicing advance facilities 49,902 27,939 Total secured credit facilities 868,076 1,084,693 Term Notes 200,000 200,000 Other secured financings 102,035 — Total secured debt obligations, net 1,170,111 1,284,693 Unsecured debt obligations, net: Senior Notes 805,291 989,318 Total debt obligations, net $ 1,975,402 $ 2,274,011

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Summary of Ownership of LD Holdings	The following table summarizes the ownership of LD Holdings as of June 30, 2024 and December 31, 2023. June 30, 2024 December 31, 2023 Holding Member Interests: Holdco Units Ownership Percentage Holdco Units Ownership Percentage loanDepot, Inc. 183,009,481 56.39% 181,054,423 56.18% Continuing LLC Members 141,540,233 43.61% 141,234,529 43.82% Total 324,549,714 100.00% 322,288,952 100.00%

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the calculation of basic and diluted loss per share for Class A common stock and Class D common stock: Three Months Ended Six Months Ended June 30, 2024 June 30, 2024 Class A Class D Total Class A Class D Total Net loss allocated to common stockholders $ (15,069) $ (17,142) $ (32,211) $ (31,005) $ (35,461) $ (66,466) Weighted average shares - basic 85,297,375 97,026,671 182,324,046 84,836,524 97,026,671 181,863,195 Loss per share - basic $ (0.18) $ (0.18) $ (0.18) $ (0.37) $ (0.37) $ (0.37) Diluted loss per share: Net loss allocated to common shareholders - basic $ (15,069) $ (17,142) $ (32,211) $ (31,005) $ (35,461) $ (66,466) Net loss allocated to common stockholders - diluted $ (15,069) $ (17,142) $ (32,211) $ (31,005) $ (35,461) $ (66,466) Weighted average shares - basic 85,297,375 97,026,671 182,324,046 84,836,524 97,026,671 181,863,195 Weighted average shares - diluted 85,297,375 97,026,671 182,324,046 84,836,524 97,026,671 181,863,195 Loss per share - diluted $ (0.18) $ (0.18) $ (0.18) $ (0.37) $ (0.37) $ (0.37) Three Months Ended Six Months Ended June 30, 2023 June 30, 2023 Class A Class D Total Class A Class D Total Net loss allocated to common stockholders $ (10,364) $ (13,079) $ (23,443) $ (29,000) $ (37,350) $ (66,350) Weighted average shares - basic 76,881,359 97,026,671 173,908,030 75,332,253 97,026,671 172,358,924 Loss per share - basic $ (0.13) $ (0.13) $ (0.13) $ (0.38) $ (0.38) $ (0.38) Diluted loss per share: Net loss allocated to common shareholders - diluted $ (10,364) $ (13,079) $ (23,443) $ (29,000) $ (37,350) $ (66,350) Weighted average shares - diluted 76,881,359 97,026,671 173,908,030 75,332,253 97,026,671 172,358,924 Loss per share - diluted $ (0.13) $ (0.13) $ (0.13) $ (0.38) $ (0.38) $ (0.38)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes the shares that were anti-dilutive and excluded from the computation of diluted loss per share for the presented periods. Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Class C common stock 142,907,533 148,597,745 143,089,635 149,535,576 Stock options, restricted stock units, ESPP shares (1) 12,866,147 19,795,712 13,886,414 20,902,847 Total 155,773,680 168,393,457 156,976,049 170,438,423 (1) Stock options, restricted stock units, and ESPP shares are weighted for the portion of the period for which they were outstanding.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Fees earned and costs incurred from joint ventures were as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Loan processing and administrative services fee income $ 4,854 $ 5,217 $ 10,018 $ 9,394 Loan origination broker fees expense 27,324 33,596 55,096 60,382 Net amounts payable to or receivable from joint ventures were as follows: June 30, December 31, Amounts payable to joint ventures $ 3,715 $ 7,876

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Loan Loss Obligation	The activity related to the loan loss obligation for sold loans is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Balance at beginning of period $ 29,336 $ 65,670 $ 31,980 $ 70,797 (Recovery) provision for loan loss obligations (9,752) 2,476 (9,174) 12,150 Recoveries (charge-offs) 1,206 (14,679) (2,016) (29,480) Balance at end of period $ 20,790 $ 53,467 $ 20,790 $ 53,467

DESCRIPTION OF BUSINESS, PRES_3

DESCRIPTION OF BUSINESS, PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Details) individual in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Apr. 24, 2024 USD ($)	Jan. 08, 2024 individual
Concentration of Risk [Line Items]
Reimbursements from cybersecurity insurers	$ 15	$ 15
Mortgage loans			$ 150
Cyber Security Incident
Concentration of Risk [Line Items]
Loss contingency, number of individuals impacted | individual				16.9
Cybersecurity expenses	26.9	41.6
Cybersecurity accrual	$ 25	$ 25
LD Holdings | LDLLC
Concentration of Risk [Line Items]
Equity ownership percentage	99.99%	99.99%
LD Holdings | Mello
Concentration of Risk [Line Items]
Equity ownership percentage	100%	100%
LD Holdings | Mello Credit Strategies LLC
Concentration of Risk [Line Items]
Equity ownership percentage	100%	100%
LD Holdings | LDSS
Concentration of Risk [Line Items]
Equity ownership percentage	100%	100%
LD Holdings | ART
Concentration of Risk [Line Items]
Equity ownership percentage	100%	100%
Loan Originations Benchmark | Geographic Concentration Risk | California
Concentration of Risk [Line Items]
Concentration risk, percentage		18%
Mortgage Loans Benchmark | Investor Concentration Risk | Investor 1
Concentration of Risk [Line Items]
Concentration risk, percentage		33%
Mortgage Loans Benchmark | Investor Concentration Risk | Investor 2
Concentration of Risk [Line Items]
Concentration risk, percentage		23%
Mortgage Loans Benchmark | Investor Concentration Risk | Investor 3
Concentration of Risk [Line Items]
Concentration risk, percentage		17%
Mortgage Loans Benchmark | Investor Concentration Risk | Investor 4
Concentration of Risk [Line Items]
Concentration risk, percentage		5%
Warehouse Lines of Credit Benchmark | Lender Concentration Risk | Lender 1
Concentration of Risk [Line Items]
Concentration risk, percentage		20%
Warehouse Lines of Credit Benchmark | Lender Concentration Risk | Lender 2
Concentration of Risk [Line Items]
Concentration risk, percentage		18%

FAIR VALUE - Financial Statemen

FAIR VALUE - Financial Statement Items on Recurring Basis by Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Loans held for sale	$ 2,377,987	$ 2,132,880
Loans held for investment, at fair value	120,287	0
Trading securities	89,477	92,901
Derivative assets:	59,779	93,574
Servicing rights	1,583,128	1,999,763
Liabilities:
Derivative liabilities:	17,856	84,962
Interest rate lock commitments
Assets:
Derivative assets:	51,826	49,112
Liabilities:
Derivative liabilities:	2,080	1,172
Forward sale contracts
Assets:
Derivative assets:	542	16,610
Liabilities:
Derivative liabilities:	10,894	83,728
Interest rate swap futures
Assets:
Derivative assets:	3,879	26,476
Liabilities:
Derivative liabilities:	0	0
MBS put options
Assets:
Derivative assets:	3,532	1,376
Liabilities:
Derivative liabilities:	0	0
Put options on treasuries
Assets:
Derivative assets:	0	0
Liabilities:
Derivative liabilities:	4,882	62
Fair Value, Recurring
Assets:
Loans held for sale	2,377,987	2,132,880
Loans held for investment, at fair value	120,287
Trading securities	89,477	92,901
Servicing rights	1,583,128	1,999,763
Total assets at fair value	4,230,658	4,319,118
Liabilities:
Servicing rights	16,665	14,045
Total liabilities at fair value	34,521	99,007
Fair Value, Recurring | Interest rate lock commitments
Assets:
Derivative assets:	51,826	49,112
Liabilities:
Derivative liabilities:	2,080	1,172
Fair Value, Recurring | Forward sale contracts
Assets:
Derivative assets:	542	16,610
Liabilities:
Derivative liabilities:	10,894	83,728
Fair Value, Recurring | Interest rate swap futures
Assets:
Derivative assets:	3,879	26,476
Fair Value, Recurring | MBS put options
Assets:
Derivative assets:	3,532	1,376
Fair Value, Recurring | Put options on treasuries
Liabilities:
Derivative liabilities:	4,882	62
Fair Value, Recurring | Level 1
Assets:
Loans held for sale	0	0
Loans held for investment, at fair value	0
Trading securities	0	0
Servicing rights	0	0
Total assets at fair value	3,879	26,476
Liabilities:
Servicing rights	0	0
Total liabilities at fair value	4,882	62
Fair Value, Recurring | Level 1 | Interest rate lock commitments
Assets:
Derivative assets:	0	0
Liabilities:
Derivative liabilities:	0	0
Fair Value, Recurring | Level 1 | Forward sale contracts
Assets:
Derivative assets:	0	0
Liabilities:
Derivative liabilities:	0	0
Fair Value, Recurring | Level 1 | Interest rate swap futures
Assets:
Derivative assets:	3,879	26,476
Fair Value, Recurring | Level 1 | MBS put options
Assets:
Derivative assets:	0	0
Fair Value, Recurring | Level 1 | Put options on treasuries
Liabilities:
Derivative liabilities:	4,882	62
Fair Value, Recurring | Level 2
Assets:
Loans held for sale	2,377,987	2,132,880
Loans held for investment, at fair value	120,287
Trading securities	89,477	92,901
Servicing rights	0	0
Total assets at fair value	2,591,825	2,243,767
Liabilities:
Servicing rights	0	0
Total liabilities at fair value	10,894	83,728
Fair Value, Recurring | Level 2 | Interest rate lock commitments
Assets:
Derivative assets:	0	0
Liabilities:
Derivative liabilities:	0	0
Fair Value, Recurring | Level 2 | Forward sale contracts
Assets:
Derivative assets:	542	16,610
Liabilities:
Derivative liabilities:	10,894	83,728
Fair Value, Recurring | Level 2 | Interest rate swap futures
Assets:
Derivative assets:	0	0
Fair Value, Recurring | Level 2 | MBS put options
Assets:
Derivative assets:	3,532	1,376
Fair Value, Recurring | Level 2 | Put options on treasuries
Liabilities:
Derivative liabilities:	0	0
Fair Value, Recurring | Level 3
Assets:
Loans held for sale	0	0
Loans held for investment, at fair value	0
Trading securities	0	0
Servicing rights	1,583,128	1,999,763
Total assets at fair value	1,634,954	2,048,875
Liabilities:
Servicing rights	16,665	14,045
Total liabilities at fair value	18,745	15,217
Fair Value, Recurring | Level 3 | Interest rate lock commitments
Assets:
Derivative assets:	51,826	49,112
Liabilities:
Derivative liabilities:	2,080	1,172
Fair Value, Recurring | Level 3 | Forward sale contracts
Assets:
Derivative assets:	0	0
Liabilities:
Derivative liabilities:	0	0
Fair Value, Recurring | Level 3 | Interest rate swap futures
Assets:
Derivative assets:	0	0
Fair Value, Recurring | Level 3 | MBS put options
Assets:
Derivative assets:	0	0
Fair Value, Recurring | Level 3 | Put options on treasuries
Liabilities:
Derivative liabilities:	$ 0	$ 0

FAIR VALUE - Assets and Liabili

FAIR VALUE - Assets and Liabilities on Recurring Basis Using Significant Unobservable Inputs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Servicing Rights:
Loans transferred from held for sale to held for investment	$ 122,532	$ 0	$ 122,532	$ 0
Servicing Rights, net
Servicing Rights:
Balance at beginning of period	1,970,164	2,016,568	1,985,718	2,025,136
Loans transferred from held for sale to held for investment	66,115	75,866	114,491	135,161
Transfers of IRLC to LHFS	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Other	0	0	0	0
Sales	(439,199)	(85,164)	(495,312)	(97,194)
Balance at end of period	1,566,463	1,998,762	1,566,463	1,998,762
Servicing Rights, net | Level 3
Servicing Rights:
Change in fair value of servicing rights, net	(30,617)	(8,508)	(38,434)	(64,341)
Change in unrealized (losses)/gains/ relating to asset and liabilities still held at period end	(8,600)	(53,600)	42,500	(44,800)
IRLCs, net
Derivatives:
Balance at beginning of period	50,163	58,722	47,940	23,590
Issuances and additions	93,090	102,124	190,420	199,308
Fallout	19,789	26,619	40,658	45,007
Transfers of IRLC to LHFS	73,718	85,179	147,956	128,843
Sales	0	0	0	0
Balance at end of period	$ 49,746	$ 49,048	$ 49,746	$ 49,048

FAIR VALUE - Fair Value Measure

FAIR VALUE - Fair Value Measurement Inputs and Valuation Techniques (Details)	Jun. 30, 2024 $ / loan	Dec. 31, 2023 $ / loan
Minimum | Discount rate | Servicing Rights, net
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing right, measurement input	0.042	0.046
Minimum | Prepayment rate | Servicing Rights, net
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing right, measurement input	0.055	0.056
Minimum | Cost to service (per loan) | Servicing Rights, net
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing right, measurement input	73	72
Minimum | Interest rate lock commitments | Pull-through rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	0.026	0.027
Maximum | Discount rate | Servicing Rights, net
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing right, measurement input	0.171	0.168
Maximum | Prepayment rate | Servicing Rights, net
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing right, measurement input	0.225	0.224
Maximum | Cost to service (per loan) | Servicing Rights, net
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing right, measurement input	127	126
Maximum | Interest rate lock commitments | Pull-through rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	0.999	0.999
Weighted Average | Discount rate | Servicing Rights, net
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing right, measurement input	0.064	0.064
Weighted Average | Prepayment rate | Servicing Rights, net
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing right, measurement input	0.083	0.081
Weighted Average | Cost to service (per loan) | Servicing Rights, net
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing right, measurement input	95	90
Weighted Average | Interest rate lock commitments | Pull-through rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	0.762	0.767

FAIR VALUE - Assets Not Measure

FAIR VALUE - Assets Not Measured On Recurring and Nonrecurring Basis (Details) - Senior Notes - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Carrying Amount
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Senior Notes	$ 805,291	$ 989,318
Estimated Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Senior Notes	$ 699,651	$ 886,492

LOANS HELD FOR SALE, AT FAIR _3

LOANS HELD FOR SALE, AT FAIR VALUE - Unpaid Principal Balance of LHFS by Loan Type (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount	$ 2,351,302	$ 2,133,082
Fair value adjustment	26,685	(202)
Loans held for sale, at fair value	$ 2,377,987	$ 2,132,880
Product Concentration Risk | Receivables Benchmark
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	100%	100%
Fixed | Confirming
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount	$ 1,256,327	$ 1,211,449
Fixed | Confirming | Product Concentration Risk | Receivables Benchmark
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	53%	57%
Fixed | Government
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount	$ 860,485	$ 777,860
Fixed | Government | Product Concentration Risk | Receivables Benchmark
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	37%	36%
ARM | Confirming
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount	$ 12,873	$ 18,592
ARM | Confirming | Product Concentration Risk | Receivables Benchmark
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	1%	1%
ARM | Government
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount	$ 45,236	$ 20,403
ARM | Government | Product Concentration Risk | Receivables Benchmark
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	2%	1%
Other - residential mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount	$ 103,457	$ 37,424
Other - residential mortgage loans | Product Concentration Risk | Receivables Benchmark
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	4%	2%
Other - HELOC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount	$ 72,924	$ 67,354
Other - HELOC | Product Concentration Risk | Receivables Benchmark
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	3%	3%

LOANS HELD FOR SALE, AT FAIR _4

LOANS HELD FOR SALE, AT FAIR VALUE - Summary of Changes in Balances (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Loans Receivable Held-for-sale, Net, Reconciliation to Cash Flow [Roll Forward]
Balance at beginning of period	$ 2,300,058	$ 2,039,367	$ 2,132,880	$ 2,373,427
Origination and purchase of loans	5,979,131	6,200,295	10,481,454	11,091,542
Sales	(5,784,166)	(6,046,785)	(10,215,710)	(11,429,204)
Transfers to loans held for investment	(122,532)	0	(122,532)	0
Repurchases	150,060	109,683	287,773	243,141
Principal payments	(155,514)	(31,688)	(181,587)	(46,785)
Fair value gain (loss)	(10,950)	14,321	(4,291)	24,430
Balance at end of period	$ 2,377,987	$ 2,256,551	$ 2,377,987	$ 2,256,551

LOANS HELD FOR SALE, AT FAIR _5

LOANS HELD FOR SALE, AT FAIR VALUE - Components of Gain on Origination and Sale of Loans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Receivables [Abstract]
(Discount) premium from loan sales	$ (871)	$ (16,648)	$ 19,324	$ (43,317)
Servicing rights additions	66,115	75,866	114,491	135,161
Unrealized (losses) gains from derivative assets and liabilities	(10,024)	27,097	56,185	63,157
Realized gains (losses) from derivative assets and liabilities	17,341	3,703	(45,897)	(43,354)
Discount points, rebates and lender paid costs	73,657	81,114	133,995	138,560
Fair value gain (loss)	10,950	(14,321)	(4,291)	24,430
Recovery (provision) for loan loss obligation for loans sold	9,752	(2,476)	9,174	(12,150)
Total gain on origination and sale of loans, net	$ 166,920	$ 154,335	$ 282,981	$ 262,487

LOANS HELD FOR SALE, AT FAIR _6

LOANS HELD FOR SALE, AT FAIR VALUE - Debt Securities, Held-For-Sale Past Due (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale, at fair value	$ 2,377,987	$ 2,300,058	$ 2,132,880	$ 2,256,551	$ 2,039,367	$ 2,373,427
UPB	2,351,302		2,133,082
Difference	26,685		(202)
Current through 89 days delinquent
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale, at fair value	2,356,587		2,113,106
UPB	2,326,381		2,108,125
Difference	30,206		4,980
Financial Asset, Equal to or Greater than 90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale, at fair value	21,400		19,774
UPB	24,921		24,957
Difference	$ (3,521)		$ (5,182)

LOANS HELD FOR INVESTMENT, AT_3

LOANS HELD FOR INVESTMENT, AT FAIR VALUE - Summary of Changes in Loans Held For Investment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Transfers and Servicing [Abstract]
Balance at beginning of period	$ 0	$ 0	$ 0	$ 0
Servicing rights additions	122,532	0	122,532	0
Principal payments	(1,924)	0	(1,924)	0
Due to collection/realization of cash flows	(321)	0	(321)	0
Balance at end of period	$ 120,287	$ 0	$ 120,287	$ 0

LOANS HELD FOR INVESTMENT, AT_4

LOANS HELD FOR INVESTMENT, AT FAIR VALUE - Fair Value and Principal (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held for investment at fair value	$ 120,287	$ 0	$ 0	$ 0	$ 0	$ 0
Fair value
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held for investment at fair value	120,287		0
UPB
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held for investment at fair value	148,123		0
Difference
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held for investment at fair value	(27,836)		0
Current through 89 days delinquent | Fair value
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held for investment at fair value	119,073		0
Current through 89 days delinquent | UPB
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held for investment at fair value	143,520		0
Current through 89 days delinquent | Difference
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held for investment at fair value	(24,447)		0
90+ days delinquent | Fair value
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held for investment at fair value	1,214		0
90+ days delinquent | UPB
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held for investment at fair value	4,603		0
90+ days delinquent | Difference
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans held for investment at fair value	$ (3,389)		$ 0

SERVICING RIGHTS, AT FAIR VAL_3

SERVICING RIGHTS, AT FAIR VALUE - Components of Service Portfolio (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Servicing Assets at Fair Value [Line Items]
Total portfolio	$ 114,278,549	$ 145,090,199
Agency
Servicing Assets at Fair Value [Line Items]
Total portfolio	65,175,357	94,243,545
Government
Servicing Assets at Fair Value [Line Items]
Total portfolio	38,532,271	40,535,399
Other
Servicing Assets at Fair Value [Line Items]
Total portfolio	$ 10,570,921	$ 10,311,255

SERVICING RIGHTS, AT FAIR VAL_4

SERVICING RIGHTS, AT FAIR VALUE - Change in Servicing Rights (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Servicing Asset at Fair Value, Amount [Roll Forward]
Balance at beginning of period	$ 1,970,164	$ 2,016,568	$ 1,985,718	$ 2,025,136
Servicing rights additions	66,115	75,866	114,491	135,161
Sales proceeds, net	(439,199)	(85,164)	(495,312)	(97,194)
Due to changes in valuation inputs or assumptions
Due to changes in valuation inputs or assumptions	15,623	26,138	43,867	4,771
Due to collection/realization of cash flows	(42,285)	(41,619)	(78,285)	(76,276)
Realized (losses) gains on sales of servicing rights	(3,955)	6,973	(4,016)	7,164
Total changes in fair value	(30,617)	(8,508)	(38,434)	(64,341)
Balance at end of period	$ 1,566,463	$ 1,998,762	$ 1,566,463	$ 1,998,762

SERVICING RIGHTS, AT FAIR VAL_5

SERVICING RIGHTS, AT FAIR VALUE - Component of Loan Servicing Fee Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Transfers and Servicing [Abstract]
Contractual servicing fees	$ 93,409	$ 95,308	$ 189,142	$ 196,440
Late, ancillary and other fees	31,673	24,221	59,998	42,978
Total	$ 125,082	$ 119,529	$ 249,140	$ 239,418

SERVICING RIGHTS, AT FAIR VAL_6

SERVICING RIGHTS, AT FAIR VALUE - Changes in Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Changes in fair value:
Due to collection/realization of cash flows	$ (42,285)	$ (41,619)	$ (78,285)	$ (76,276)
Due to changes in valuation inputs or assumptions	15,623	26,138	43,867	4,771
Realized (loss) gain on sale of servicing rights	(3,057)	6,973	(3,013)	7,164
Net loss from derivatives hedging servicing rights	(25,183)	(30,014)	(61,499)	(26,936)
Valuation changes in servicing rights, net of hedging gains and losses	(12,617)	3,097	(20,645)	(15,001)
Other realized (losses) gains on sales of servicing rights	(5,885)	48	(7,126)	(3)
Changes in fair value of servicing rights, net	$ (60,787)	$ (38,474)	$ (106,056)	$ (91,280)

SERVICING RIGHTS, AT FAIR VAL_7

SERVICING RIGHTS, AT FAIR VALUE - Servicing Rights Sensitivity Analysis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Transfers and Servicing [Abstract]
Fair Value of Servicing Rights, net	$ 1,566,463	$ 1,970,164	$ 1,985,718	$ 1,998,762	$ 2,016,568	$ 2,025,136
Change in Fair Value from adverse changes:
Discount rate, increase 1%	(60,210)		(76,862)
Discount rate, increase 2%	(116,958)		(148,438)
Cost of servicing. increase 10%	(16,423)		(20,103)
Cost of servicing. increase 20%	(32,931)		(40,319)
Prepayment speed, increase 10%	(16,589)		(22,425)
Prepayment speed, increase 20%	$ (32,438)		$ (44,128)

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Outstanding Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Fair Value, Asset	$ 59,779	$ 93,574
Fair Value, Liability	17,856	84,962
Interest rate lock commitments
Derivative [Line Items]
Notional, Assets	2,434,372	2,007,175
Notional, Liabilities	466,170	163,161
Fair Value, Asset	51,826	49,112
Fair Value, Liability	2,080	1,172
Forward sale contracts
Derivative [Line Items]
Notional, Assets	416,552	449,419
Notional, Liabilities	2,402,247	2,234,930
Fair Value, Asset	542	16,610
Fair Value, Liability	10,894	83,728
Put options on treasuries
Derivative [Line Items]
Notional, Assets	0	0
Notional, Liabilities	11,550	9,730
Fair Value, Asset	0	0
Fair Value, Liability	4,882	62
MBS put options
Derivative [Line Items]
Notional, Assets	450,000	200,000
Notional, Liabilities	0	0
Fair Value, Asset	3,532	1,376
Fair Value, Liability	0	0
Interest rate swap futures
Derivative [Line Items]
Notional, Assets	1,975	3,240
Notional, Liabilities	0	0
Fair Value, Asset	3,879	26,476
Fair Value, Liability	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Realized and Unrealized Gains on Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Total realized and unrealized (losses) gains on derivative financial instruments	$ (17,866)	$ 786	$ (51,211)	$ (7,133)
Interest rate lock commitments
Derivative Instruments, Gain (Loss) [Line Items]
Total realized and unrealized (losses) gains on derivative financial instruments	(417)	(9,674)	1,806	25,458
Gain on origination and sale of loans, net | Forward sale contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total realized and unrealized (losses) gains on derivative financial instruments	6,286	44,183	9,747	1,047
Gain on origination and sale of loans, net | Interest rate swap futures
Derivative Instruments, Gain (Loss) [Line Items]
Total realized and unrealized (losses) gains on derivative financial instruments	(4,757)	(6,999)	(7,476)	(7,059)
Gain on origination and sale of loans, net | Put options
Derivative Instruments, Gain (Loss) [Line Items]
Total realized and unrealized (losses) gains on derivative financial instruments	6,205	3,290	6,211	357
Change in fair value of servicing rights, net | Forward sale contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total realized and unrealized (losses) gains on derivative financial instruments	(8,491)	(5,635)	(15,046)	(8,427)
Change in fair value of servicing rights, net | Interest rate swap futures
Derivative Instruments, Gain (Loss) [Line Items]
Total realized and unrealized (losses) gains on derivative financial instruments	(14,259)	(10,012)	(36,874)	(8,773)
Change in fair value of servicing rights, net | Put options
Derivative Instruments, Gain (Loss) [Line Items]
Total realized and unrealized (losses) gains on derivative financial instruments	$ (2,433)	$ (14,367)	$ (9,579)	$ (9,736)

BALANCE SHEET NETTING (Details)

BALANCE SHEET NETTING (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Net amounts presented in consolidated balance sheet	$ 59,779	$ 93,574
Liabilities:
Net amounts presented in consolidated balance sheet	17,856	84,962
Total liabilities, gross amounts recognized	3,409,137	3,335,246
Total liabilities, gross amounts offset in consolidated balance sheet	(6,181)	(16,981)
Total liabilities, net amounts presented in consolidated balance sheet	3,402,956	3,318,265
Total liabilities, gross amounts not offset in consolidated balance sheet, financial instruments	(3,387,180)	(3,234,475)
Total liabilities, gross amounts not offset in consolidated balance sheet, cash collateral	(12,657)	(60,188)
Total liabilities, net amount	3,119	23,602
Warehouse and other lines of credit
Liabilities:
Gross amounts offset in consolidated balance sheet	0	0
Securities loaned, gross/net amounts recognized	2,213,128	1,947,057
Securities loaned, gross amounts not offset in consolidated balance sheet, financial instruments	(2,213,128)	(1,947,057)
Securities loaned, gross amounts not offset in consolidated balance sheet, cash collateral	0	0
Securities loaned, net amount	0	0
Secured debt obligations
Liabilities:
Gross amounts offset in consolidated balance sheet	0	0
Securities loaned, gross/net amounts recognized	1,174,052	1,287,418
Securities loaned, gross amounts not offset in consolidated balance sheet, financial instruments	(1,174,052)	(1,287,418)
Securities loaned, gross amounts not offset in consolidated balance sheet, cash collateral	0	0
Securities loaned, net amount	0	0
Forward sale contracts
Assets:
Gross amounts recognized	6,721	33,591
Gross amounts offset in consolidated balance sheet	(6,179)	(16,981)
Net amounts presented in consolidated balance sheet	542	16,610
Gross amounts not offset in consolidated balance sheet, financial instruments	0	0
Gross amounts not offset in consolidated balance sheet, cash collateral	(89)	0
Net amount	453	16,610
Liabilities:
Gross amounts recognized	17,073	100,709
Gross amounts offset in consolidated balance sheet	(6,179)	(16,981)
Net amounts presented in consolidated balance sheet	10,894	83,728
Gross amounts not offset in consolidated balance sheet, financial instruments	0	0
Gross amounts not offset in consolidated balance sheet, cash collateral	(7,775)	(60,188)
Net amount	3,119	23,540
MBS put options
Assets:
Gross amounts recognized	3,534	1,376
Gross amounts offset in consolidated balance sheet	(2)	0
Net amounts presented in consolidated balance sheet	3,532	1,376
Gross amounts not offset in consolidated balance sheet, financial instruments	0	0
Gross amounts not offset in consolidated balance sheet, cash collateral	0	0
Net amount	3,532	1,376
Liabilities:
Gross amounts recognized	2
Gross amounts offset in consolidated balance sheet	(2)
Net amounts presented in consolidated balance sheet	0	0
Gross amounts not offset in consolidated balance sheet, financial instruments	0
Gross amounts not offset in consolidated balance sheet, cash collateral	0
Net amount	0
Interest rate swap futures
Assets:
Gross amounts recognized	3,879	26,476
Gross amounts offset in consolidated balance sheet	0	0
Net amounts presented in consolidated balance sheet	3,879	26,476
Gross amounts not offset in consolidated balance sheet, financial instruments	0	0
Gross amounts not offset in consolidated balance sheet, cash collateral	0	0
Net amount	3,879	26,476
Liabilities:
Net amounts presented in consolidated balance sheet	0	0
All except interest rate lock commitments
Assets:
Gross amounts recognized	14,134	61,443
Gross amounts offset in consolidated balance sheet	(6,181)	(16,981)
Net amounts presented in consolidated balance sheet	7,953	44,462
Gross amounts not offset in consolidated balance sheet, financial instruments	0	0
Gross amounts not offset in consolidated balance sheet, cash collateral	(89)	0
Net amount	7,864	44,462
Put options on treasuries
Assets:
Net amounts presented in consolidated balance sheet	0	0
Liabilities:
Gross amounts recognized	4,882	62
Gross amounts offset in consolidated balance sheet	0	0
Net amounts presented in consolidated balance sheet	4,882	62
Gross amounts not offset in consolidated balance sheet, financial instruments	0	0
Gross amounts not offset in consolidated balance sheet, cash collateral	(4,882)	0
Net amount	$ 0	$ 62

VARIABLE INTEREST ENTITIES - Ad

VARIABLE INTEREST ENTITIES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Variable Interest Entity [Line Items]
Remaining principal balance of loans transferred to the securitization trust	$ 148,100		$ 148,100
Total portfolio	114,278,549		114,278,549		$ 145,090,199
90+ days delinquent
Variable Interest Entity [Line Items]
Remaining principal balance of loans transferred to the securitization trust	4,600		4,600
Variable Interest Entity, Not Primary Beneficiary | Joint Venture
Variable Interest Entity [Line Items]
Total assets in VIEs	15,349		15,349		27,171
Share in net earnings of joint ventures	4,300	$ 5,700	6,600	$ 9,500
Variable Interest Entity, Not Primary Beneficiary | 90+ days delinquent
Variable Interest Entity [Line Items]
Total portfolio	5,400		5,400
Variable Interest Entity, Not Primary Beneficiary | Pledged as Collateral
Variable Interest Entity [Line Items]
Total assets in VIEs	$ 2,143,386		$ 2,143,386		$ 2,200,406

VARIABLE INTEREST ENTITIES - Co

VARIABLE INTEREST ENTITIES - Consolidated VIEs (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
ASSETS
Loans held for sale, at fair value	$ 2,377,987	$ 2,300,058	$ 2,132,880	$ 2,256,551	$ 2,039,367	$ 2,373,427
Loans held for investment, at fair value	120,287		0
Restricted cash	98,057		85,149
Servicing rights, at fair value	1,583,128		1,999,763
Total assets	5,942,777		6,151,048
Liabilities:
Warehouse and other lines of credit	2,213,128		1,947,057
Debt obligations, net	1,975,402		2,274,011
Total liabilities	5,363,839		5,446,564
Variable Interest Entity, Primary Beneficiary
ASSETS
Loans held for sale, at fair value	495,731		510,080
Loans held for investment, at fair value	120,287
Restricted cash	2,604		2,704
Servicing rights, at fair value	596,140		617,878
Other assets	68,581		84,524
Total assets	1,283,343		1,215,186
Liabilities:
Warehouse and other lines of credit	500,000		500,000
Total liabilities	1,035,837		902,689
Variable Interest Entity, Primary Beneficiary | MSR facilities
Liabilities:
Debt obligations, net	183,900		174,750
Variable Interest Entity, Primary Beneficiary | Servicing advance facilities
Liabilities:
Debt obligations, net	49,902		27,939
Variable Interest Entity, Primary Beneficiary | Term notes
Liabilities:
Debt obligations, net	200,000		200,000
Variable Interest Entity, Primary Beneficiary | Other secured financings
Liabilities:
Debt obligations, net	$ 102,035		$ 0

VARIABLE INTEREST ENTITIES - No

VARIABLE INTEREST ENTITIES - Nonconsolidated VIEs (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Retained interests at carrying value	$ 89,477	$ 92,901
Investments in joint ventures	17,905	20,363
Total assets	5,942,777	6,151,048
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Total assets	107,382	113,264
Maximum exposure to loss	107,382	113,264
Variable Interest Entity, Not Primary Beneficiary | Joint Venture
Variable Interest Entity [Line Items]
Investments in joint ventures	17,905	20,363
Maximum exposure to loss	17,905	20,363
Total assets in VIEs	15,349	27,171
Variable Interest Entity, Not Primary Beneficiary | Retained Interests
Variable Interest Entity [Line Items]
Retained interests at carrying value	89,477	92,901
Maximum exposure to loss	89,477	92,901
Total assets in VIEs	$ 2,143,386	$ 2,200,406

WAREHOUSE AND OTHER LINES OF _3

WAREHOUSE AND OTHER LINES OF CREDIT - Additional Information (Details) $ in Thousands	1 Months Ended	6 Months Ended
	Oct. 31, 2021 USD ($)	Jun. 30, 2024 USD ($) lineOfCredit	Dec. 31, 2023 USD ($)
Line of Credit Facility [Line Items]
Number of lines of credit held | lineOfCredit		8
Restricted cash		$ 98,057	$ 85,149
Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)		0.90%
Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)		4.25%
Warehouse Agreement Borrowings
Line of Credit Facility [Line Items]
Restricted cash		$ 7,900	7,000
Warehouse Agreement Borrowings | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)		1.37%
Restricted cash		$ 5,300	$ 4,300
Warehouse Agreement Borrowings | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)		2.25%
Warehouse and Revolving Credit Facilities
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 3,050,000
Securitization Facilities
Line of Credit Facility [Line Items]
Number of securitization facilities | lineOfCredit		1
Debt instrument, term		3 years
Securitization Facilities | 2021-3 Securitization Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 500,000
Debt instrument, term	3 years

WAREHOUSE AND OTHER LINES OF _4

WAREHOUSE AND OTHER LINES OF CREDIT - Warehouse Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Outstanding balance	$ 2,213,128	$ 1,947,057
Warehouse and Revolving Credit Facilities
Line of Credit Facility [Line Items]
Committed Amount	901,000
Uncommitted Amount	2,149,000
Total Facility Amount	3,050,000
Outstanding balance	2,213,128	1,947,057
Warehouse and Revolving Credit Facilities | Facility 1
Line of Credit Facility [Line Items]
Committed Amount	400,000
Uncommitted Amount	350,000
Total Facility Amount	750,000
Outstanding balance	404,740	391,418
Warehouse and Revolving Credit Facilities | Facility 2
Line of Credit Facility [Line Items]
Committed Amount	1,000
Uncommitted Amount	299,000
Total Facility Amount	300,000
Outstanding balance	251,610	155,676
Warehouse and Revolving Credit Facilities | Facility 3
Line of Credit Facility [Line Items]
Committed Amount	0
Uncommitted Amount	225,000
Total Facility Amount	225,000
Outstanding balance	183,539	175,348
Warehouse and Revolving Credit Facilities | Facility 4
Line of Credit Facility [Line Items]
Committed Amount	0
Uncommitted Amount	175,000
Total Facility Amount	175,000
Outstanding balance	155,129	127,052
Warehouse and Revolving Credit Facilities | Facility 5
Line of Credit Facility [Line Items]
Committed Amount	0
Uncommitted Amount	200,000
Total Facility Amount	200,000
Outstanding balance	0	1,638
Warehouse and Revolving Credit Facilities | Facility 6
Line of Credit Facility [Line Items]
Committed Amount	0
Uncommitted Amount	600,000
Total Facility Amount	600,000
Outstanding balance	452,047	359,401
Warehouse and Revolving Credit Facilities | Facility 7
Line of Credit Facility [Line Items]
Committed Amount	0
Uncommitted Amount	300,000
Total Facility Amount	300,000
Outstanding balance	266,063	236,524
Warehouse and Revolving Credit Facilities | Facility 8
Line of Credit Facility [Line Items]
Committed Amount	500,000
Uncommitted Amount	0
Total Facility Amount	500,000
Outstanding balance	$ 500,000	$ 500,000

WAREHOUSE AND OTHER LINES OF _5

WAREHOUSE AND OTHER LINES OF CREDIT - Information on Warehouse Borrowings (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Line of Credit Facility [Line Items]
Collateral pledged (loans held for sale)	$ 2,377,987		$ 2,377,987		$ 2,132,880
Warehouse and Revolving Credit Facilities
Line of Credit Facility [Line Items]
Maximum outstanding balance during the period	2,292,853	$ 2,046,208	2,292,853	$ 2,152,855
Average balance outstanding during the period	$ 1,820,649	$ 1,760,606	$ 1,721,138	$ 1,642,477
Weighted average interest rate during the period	7.28%	6.99%	7.27%	6.81%
Warehouse and Revolving Credit Facilities | Pledged as Collateral
Line of Credit Facility [Line Items]
Collateral pledged (loans held for sale)	$ 2,321,296	$ 2,149,195	$ 2,321,296	$ 2,149,195

DEBT OBLIGATIONS - Information

DEBT OBLIGATIONS - Information on Outstanding Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt obligations, net	$ 1,975,402	$ 2,274,011
Secured debt obligations
Debt Instrument [Line Items]
Debt obligations, net	1,170,111	1,284,693
Secured debt obligations | Medium-Term Note
Debt Instrument [Line Items]
Debt obligations, net	200,000	200,000
Secured debt obligations | Other secured financings
Debt Instrument [Line Items]
Debt obligations, net	102,035	0
Secured debt obligations | Revolving credit facility
Debt Instrument [Line Items]
Debt obligations, net	868,076	1,084,693
Secured debt obligations | MSR facilities
Debt Instrument [Line Items]
Debt obligations, net	742,897	980,760
Secured debt obligations | Securities financing facilities
Debt Instrument [Line Items]
Debt obligations, net	75,277	75,994
Secured debt obligations | Servicing advance facilities
Debt Instrument [Line Items]
Debt obligations, net	49,902	27,939
Unsecured debt obligations | Senior Notes
Debt Instrument [Line Items]
Debt obligations, net	$ 805,291	$ 989,318

DEBT OBLIGATIONS - Secured Cred

DEBT OBLIGATIONS - Secured Credit Facilities (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jun. 30, 2024	Jan. 31, 2024	Dec. 31, 2023	Nov. 30, 2023	Jan. 31, 2022	Sep. 30, 2020
Debt Instrument [Line Items]
Servicing rights, at fair value		$ 1,583,128		$ 1,999,763
Trading securities		89,477		92,901
Debt obligations, net		$ 1,975,402		2,274,011
Minimum
Debt Instrument [Line Items]
Advance rate		50%
Maximum
Debt Instrument [Line Items]
Advance rate		85%
Pledged as Collateral
Debt Instrument [Line Items]
Servicing rights, at fair value		$ 596,140		617,878
Pledged as Collateral | Variable Interest Entity, Not Primary Beneficiary
Debt Instrument [Line Items]
Trading securities		89,477		92,901
Fifth Secured Credit Facility
Debt Instrument [Line Items]
Borrowing capacity			$ 250,000
Secured Debt
Debt Instrument [Line Items]
Debt obligations, net		1,170,111		1,284,693
Secured Debt | GMSR VFN | GNMA Mortgage Servicing Rights
Debt Instrument [Line Items]
Face amount		185,300
Deferred financing costs		1,400
Secured Debt | GMSR VFN | Servicing Advance Reimbursement Amounts
Debt Instrument [Line Items]
Outstanding balance		32,800
Advances to affiliate		48,500
Secured Debt | GMSR VFN | Maximum
Debt Instrument [Line Items]
Face amount					$ 175,000
Secured Debt | 2020-VF1 Notes | Advance Receivables Trust
Debt Instrument [Line Items]
Borrowing capacity							$ 100,000
Secured Debt | 2020-VF1 Notes | Advance Receivables Trust | Reimbursement For Advances Made
Debt Instrument [Line Items]
Outstanding balance		17,200
Advances to affiliate		20,100
Secured Debt | Third Secured Credit Facility
Debt Instrument [Line Items]
Servicing rights, at fair value		492,100
Borrowing capacity				540,000
Deferred financing costs		1,100
Line of credit facility, option to increase In borrowing capacity				600,000
Outstanding balance		320,000
Secured Debt | Fourth Secured Credit Facility
Debt Instrument [Line Items]
Servicing rights, at fair value		417,200
Borrowing capacity						$ 500,000
Deferred financing costs		0
Outstanding balance		240,100
Secured Debt | Fourth Secured Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Borrowing capacity	$ 450,000
Secured Debt | Securities financing facilities
Debt Instrument [Line Items]
Debt obligations, net		$ 75,277		$ 75,994

DEBT OBLIGATIONS - Term Notes (

DEBT OBLIGATIONS - Term Notes (Details) - Secured Debt - Medium-Term Note $ in Millions	Jun. 30, 2024 USD ($)
Debt Instrument [Line Items]
Term notes outstanding	$ 200
Deferred financing costs	$ 0

DEBT OBLIGATIONS - Other Secure

DEBT OBLIGATIONS - Other Secured Financings (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Apr. 24, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Outstanding balance	$ 1,975,402		$ 2,274,011
Secured Debt
Debt Instrument [Line Items]
Outstanding balance	1,170,111		1,284,693
Secured Debt | Other secured financings
Debt Instrument [Line Items]
Outstanding balance	102,035		$ 0
Deferred financing costs	1,400
Debt discount	$ 9,200
Mortgages | Other secured financings
Debt Instrument [Line Items]
Outstanding balance		$ 150,000

DEBT OBLIGATIONS - Senior Notes

DEBT OBLIGATIONS - Senior Notes (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2022	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Mar. 31, 2021	Oct. 31, 2020
Debt Instrument [Line Items]
(Loss) gain on extinguishment of debt	$ 5,700	$ (5,700)				$ (5,680)	$ 39
Outstanding balance	1,975,402	1,975,402				1,975,402		$ 2,274,011
Unsecured Debt | 6.50% Senior Unsecured Notes Due 2025
Debt Instrument [Line Items]
Face amount										$ 500,000
Stated interest rate										6.50%
Repurchase amount	(478,000)	(478,000)				(478,000)
Outstanding balance	19,800	19,800				19,800
Deferred financing costs	$ 94	$ 94				$ 94
Unsecured Debt | Senior Secured Notes Due 2027
Debt Instrument [Line Items]
Exchange ratio	110%	110%				110%
Outstanding balance	$ 340,600	$ 340,600				$ 340,600
Deferred financing costs	6,400	6,400				6,400
Debt discount	44,100	44,100				44,100
Unsecured Debt | 6.125% Senior Unsecured Notes Due 2028
Debt Instrument [Line Items]
Face amount									$ 600,000
Stated interest rate									6.125%
(Loss) gain on extinguishment of debt			$ 1,200	$ 39	$ 10,500
Outstanding balance	499,400	499,400				499,400
Deferred financing costs	4,000	4,000				4,000
Extinguishment of debt, amount			$ 3,000	$ 100	$ 97,500
Extinguishment of debt, purchase price, percentage of par			58.50%	60.10%	87.90%		60.10%
Unsecured Debt | 8.750% Senior Unsecured Notes Due 2027
Debt Instrument [Line Items]
Face amount	$ 340,600	$ 340,600				$ 340,600
Stated interest rate	8.75%	8.75%				8.75%
Exchange of senior notes for cash	$ 185,000

DEBT OBLIGATIONS - Interest Exp

DEBT OBLIGATIONS - Interest Expense (Details)	6 Months Ended
	Jun. 30, 2024
Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.90%
Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	4.25%

EQUITY - Additional Information

EQUITY - Additional Information (Details) $ in Thousands	Feb. 12, 2021	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Equity [Abstract]
Noncontrolling interest		$ 283,605	$ 351,303
Stock, exchange ratio	1

EQUITY - Summary of Ownership (

EQUITY - Summary of Ownership (Details) - LD Holdings - shares	Jun. 30, 2024	Dec. 31, 2023
Noncontrolling Interest [Line Items]
Holdco Units (in shares)	324,549,714	322,288,952
Ownership Percentage	100%	100%
loanDepot, Inc.
Noncontrolling Interest [Line Items]
Holdco Units (in shares)	183,009,481	181,054,423
Ownership Percentage	56.39%	56.18%
Continuing LLC Members
Noncontrolling Interest [Line Items]
Holdco Units (in shares)	141,540,233	141,234,529
Ownership Percentage	43.61%	43.82%

LOSS PER SHARE - Computation of

LOSS PER SHARE - Computation of Basic and Diluted Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic earnings per share:
Net loss allocated to common stockholders	$ (32,211)	$ (23,443)	$ (66,466)	$ (66,350)
Weighted average shares - basic (in shares)	182,324,046	173,908,030	181,863,195	172,358,924
Loss per share - basic (in usd per share)	$ (0.18)	$ (0.13)	$ (0.37)	$ (0.38)
Diluted loss per share:
Net loss allocated to common shareholders - basic	$ (32,211)		$ (66,466)
Net loss allocated to common stockholders - diluted	$ (32,211)	$ (23,443)	$ (66,466)	$ (66,350)
Weighted average shares - diluted (in shares)	182,324,046	173,908,030	181,863,195	172,358,924
Loss per share - diluted (in usd per share)	$ (0.18)	$ (0.13)	$ (0.37)	$ (0.38)
Class B
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares, outstanding (in shares)	0	0	0	0
Class A
Basic earnings per share:
Net loss allocated to common stockholders	$ (15,069)	$ (10,364)	$ (31,005)	$ (29,000)
Weighted average shares - basic (in shares)	85,297,375	76,881,359	84,836,524	75,332,253
Loss per share - basic (in usd per share)	$ (0.18)	$ (0.13)	$ (0.37)	$ (0.38)
Diluted loss per share:
Net loss allocated to common shareholders - basic	$ (15,069)		$ (31,005)
Net loss allocated to common stockholders - diluted	$ (15,069)	$ (10,364)	$ (31,005)	$ (29,000)
Weighted average shares - diluted (in shares)	85,297,375	76,881,359	84,836,524	75,332,253
Loss per share - diluted (in usd per share)	$ (0.18)	$ (0.13)	$ (0.37)	$ (0.38)
Class D
Basic earnings per share:
Net loss allocated to common stockholders	$ (17,142)	$ (13,079)	$ (35,461)	$ (37,350)
Weighted average shares - basic (in shares)	97,026,671	97,026,671	97,026,671	97,026,671
Loss per share - basic (in usd per share)	$ (0.18)	$ (0.13)	$ (0.37)	$ (0.38)
Diluted loss per share:
Net loss allocated to common shareholders - basic	$ (17,142)		$ (35,461)
Net loss allocated to common stockholders - diluted	$ (17,142)	$ (13,079)	$ (35,461)	$ (37,350)
Weighted average shares - diluted (in shares)	97,026,671	97,026,671	97,026,671	97,026,671
Loss per share - diluted (in usd per share)	$ (0.18)	$ (0.13)	$ (0.37)	$ (0.38)

LOSS PER SHARE - Additional Inf

LOSS PER SHARE - Additional Information (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Earnings Per Share [Abstract]
Combined federal and state rate, percent	26.30%	26.30%	26.30%	26.80%	26.20%

LOSS PER SHARE - Antidilutive S

LOSS PER SHARE - Antidilutive Securities Excluded From the Computation of Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	155,773,680	168,393,457	156,976,049	170,438,423
Class C common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	142,907,533	148,597,745	143,089,635	149,535,576
Stock options, restricted stock units, ESPP shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	12,866,147	19,795,712	13,886,414	20,902,847

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Deferred tax asset before valuation allowance	$ 48.7		$ 48.7		$ 88.7
Deferred tax liability	$ 98.3		$ 98.3		$ 166.5
Combined federal and state rate, percent	26.30%	26.30%	26.30%	26.80%	26.20%
Deferred tax asset, valuation allowance	$ 0.3		$ 0.3		$ 0.3
TRA liability	$ 58.3		$ 58.3		$ 57.3

RELATED PARTY TRANSACTIONS - Sc

RELATED PARTY TRANSACTIONS - Schedule of Related Party Transactions (Details) - Joint Venture - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Loan processing and administrative services fee income	$ 4,854	$ 5,217	$ 10,018	$ 9,394
Loan origination broker fees expense	27,324	$ 33,596	55,096	$ 60,382
Amounts payable to joint ventures	$ 3,715		$ 3,715		$ 7,876

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Related Party Transactions [Abstract]
Tax receivable agreement, payment	$ 0	$ 0

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) $ in Thousands		1 Months Ended			12 Months Ended
	Dec. 24, 2020 member	Jun. 30, 2023 USD ($) complaint	Mar. 31, 2022 complaint	Oct. 31, 2021 complaint	Dec. 31, 2023 USD ($)	Jun. 30, 2024 USD ($) lawsuit plaintiff	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2021 lawsuit
Other Commitments [Line Items]
Customer escrow balance					$ 4,300	$ 12,200
Number of senior members | member	1
Pending number of shareholder complaints | complaint		3	2	4
Number of pending shareholder complaints, consolidated | complaint		2
Obligation for sold MSRs		$ 53,467			31,980	20,790	$ 29,336	$ 65,670	$ 70,797
TRA liability					57,300	58,300
MSR facilities
Other Commitments [Line Items]
Obligation for sold MSRs					500	5,100
Commitments to Extend Credit
Other Commitments [Line Items]
Commitments to originate loans					2,200,000	$ 2,900,000
Cyber Security Incident
Other Commitments [Line Items]
Number of putative class action cases | lawsuit						23
Number of plaintiffs' firm as lead counsel | plaintiff						5
Loss contingency accrual						$ 25,000
Employment Litigation
Other Commitments [Line Items]
Loss contingency, damages sought					$ 75,000
Securities Class Action Litigation Member
Other Commitments [Line Items]
Number of putative class action cases | lawsuit										2

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Loan Loss Obligation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 29,336	$ 65,670	$ 31,980	$ 70,797
(Recovery) provision for loan loss obligations	(9,752)	2,476	(9,174)	12,150
Recoveries (charge-offs)	1,206	(14,679)	(2,016)	(29,480)
Balance at end of period	$ 20,790	$ 53,467	$ 20,790	$ 53,467

REGULATORY CAPITAL AND LIQUID_2

REGULATORY CAPITAL AND LIQUIDITY REQUIREMENTS (Details) $ in Millions	Jun. 30, 2024 USD ($)
Mortgage Banking [Abstract]
Minimum adjusted net worth balance requirement	$ 326.9