loanDepot enters amended $500M credit facility with Goldman Sachs to facilitate excess yield securitization

loanDepot, Inc.

Amended and restated revolving credit facility up to $500M secured by Fannie Mae MSRs, maturing January 28, 2025.
Amendment releases Lenders' security interest in excess yield of certain mortgage loans to permit sale and securitization.
Borrower: loanDepot.com, LLC; Administrative Agent: Goldman Sachs Bank USA.
Fannie Mae MSR advance rate and market value percentage defined in fee letter (confidential).

Key facts

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

loanDepot, Inc. amended Amended and Restated Credit Agreement with Goldman Sachs Bank USA, as administrative agent valued at up to $500 million (effective 2023-08-25).

Action: amendment
Agreement: credit facility
Counterparty: Goldman Sachs Bank USA, as administrative agent
Value: up to $500 million
Effective: 2023-08-25

Exact text from the filing

On August 25, 2023, loanDepot.com, LLC, a Delaware limited liability company and an indirect subsidiary of loanDepot, Inc. (the “Company”), as borrower, entered into an Amended and Restated Credit Agreement (the “Credit Agreement”) with the financial institutions that may from time to time become parties thereto (each such financial institution, a “Lender” and collectively, the “Lenders”), and Goldman Sachs Bank USA (“GS Bank”), as administrative agent.

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Source: SEC EDGAR

accession 0001831631-23-000264

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