8-K
filed November 15, 2022, 6:59 PM ET
ticker LDI
CIK 0001831631
other material
confidence high
sentiment neutral
materiality 0.50
loanDepot, Inc. (LDI): debt financing — loanDepot extends JPMorgan warehouse facility to Nov 2023, terminates $750M JVB repurchase facility
loanDepot, Inc.
- Entered amended mortgage loan participation sale agreement with JPMorgan; warehouse facility extended to November 9, 2023.
- Terminated Master Repurchase Agreement with J.V.B. Financial Group; $750M capacity eliminated; no borrowings outstanding.
- Amended bylaws to require stockholder nominations comply with Rule 14a-19, including 67% proxy solicitation.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
loanDepot, Inc. amended credit facility with JPMorgan Chase Bank, National Association maturing November 9, 2023.
- Instrument
- credit facility
- Counterparty
- JPMorgan Chase Bank, National Association
- Maturity
- November 9, 2023
- Event
- amendment
Exact text from the filing
The Amended MLPSA and the ancillary agreements extended the expiration date of the Warehouse Facility to November 9, 2023.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
loanDepot, Inc.: Amended bylaws to require compliance with Rule 14a-19 for director nominations and remove requirement to produce stockholder list at meetings (effective 2022-11-10).
- Change
- bylaw amendment
- Effective
- 2022-11-10
Exact text from the filing
On November 10, 2022, the board of directors of loanDepot, Inc., a Delaware corporation (the “ Company ”), adopted the Company’s amended and restated bylaws (the “ Amended Bylaws ”), effective as of such date.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
loanDepot, Inc. terminated Master Repurchase Agreement with J.V.B. Financial Group, LLC valued at Terminated $750 million Master Repurchase Agreement; no borrowings outstanding and no termination pe (effective 2022-11-14).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- J.V.B. Financial Group, LLC
- Value
- Terminated $750 million Master Repurchase Agreement; no borrowings outstanding and no termination pe
- Effective
- 2022-11-14
Exact text from the filing
On November 14, 2022, loanDepot.com, LLC, a Delaware limited liability company and an indirect subsidiary of loanDepot, Inc. (the “Company”), reduced its funding capacity based on current and projected mortgage loan originations by terminating its Master Repurchase Agreement, dated as of November 25, 2019 (the “MRA”) with J.V.B. Financial Group, LLC (the “JVB Financing Facility”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
loanDepot, Inc. amended Amended and Restated Mortgage Loan Participation Sale Agreement with JPMorgan Chase Bank, National Association valued at Extended expiration date of Warehouse Facility to November 9, 2023 (effective 2022-11-10).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- JPMorgan Chase Bank, National Association
- Value
- Extended expiration date of Warehouse Facility to November 9, 2023
- Effective
- 2022-11-10
Exact text from the filing
On November 10, 2022, loanDepot.com, LLC, a Delaware limited liability company and an indirect subsidiary of loanDepot, Inc. (the “Company”), as seller, entered into the Amended and Restated Mortgage Loan Participation Sale Agreement with JPMorgan Chase Bank, National Association (the “Purchaser”), as purchaser (the “Amended MLPSA”), along with certain ancillary agreements , pursuant to which the Company may sell to the Purchaser participation interests in certain designated pools of fully amortizing first lien residential mortgage loans eligible to back securities and, at a later date, cause such mortgage loans to back a security issued by the Company, which will be delivered to the Purchaser (the “Warehouse Facility”).
View on SEC.gov
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