loanDepot reduces repurchase facility to $750M total capacity; extends to Oct 2023

loanDepot, Inc.

Amended MRA with Jefferies Funding LLC extends facility expiration from Oct 29, 2022 to Oct 26, 2023.
Uncommitted financing reduced from $1.10B to $350M; committed amount remains $400M.
Total facility capacity now $750M, down from $1.5B previously.
Amendment covers residential mortgage loan repurchase obligations; customary margin and default provisions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

loanDepot, Inc. amended Third Amended and Restated Master Repurchase Agreement with Jefferies Funding LLC valued at $400.00 million (effective 2022-10-28).

Action: amendment
Agreement: credit facility
Counterparty: Jefferies Funding LLC
Value: $400.00 million
Effective: 2022-10-28

Exact text from the filing

On October 28, 2022, loanDepot.com, LLC, a Delaware limited liability company and an indirect subsidiary of loanDepot, Inc. (the “Company”), as seller, entered into the Third Amended and Restated Master Repurchase Agreement with Jefferies Funding LLC (“Buyer”) , as buyer (the “Amended MRA”), along with certain ancillary agreements , pursuant to which the Company may sell to the Buyer, and later repurchase, the Company’s beneficial right title and interest in and to certain residential mortgage loans (the “Jefferies Warehouse Facility”).

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loanDepot, Inc. filing history →

Source: SEC EDGAR

accession 0001831631-22-000309

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