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California-based non-bank residential lender LoanDepot has secured $150m in term debt financing from undisclosed investors. The company planned an initial public offering last year that would have valued it at $2.5 billion.
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LoanDepot said in a press release it will use the funds to buy technology, develop products and retain certain loan assets. “We believe this approach strengthens our position as the leading modern lender as the industry heads into the next generation of lending," said Anthony Hsieh, chairman and chief executive.
http://www.ocbj.com/news/2016/aug/17/loandepot-gets-150-million/
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