loanDepot enters new $500M MSR-backed credit facility with Goldman Sachs

loanDepot, Inc.

Revolving credit facility up to $500M secured by Fannie Mae mortgage servicing rights; initial commitment $300M.
Borrower is loanDepot FA Agency MSR, LLC; guarantor is loanDepot.com, LLC; GS Bank is administrative agent.
Replaces existing August 2023 credit agreement; facility matures January 28, 2025; availability period ends July 28, 2024.
Proceeds used for general corporate purposes and to repay outstanding advances under prior facility.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

loanDepot, Inc. entered into Credit Agreement with Goldman Sachs Bank USA valued at revolving line of credit of up to $500 million (effective 2023-12-15).

Action: entry
Agreement: credit facility
Counterparty: Goldman Sachs Bank USA
Value: revolving line of credit of up to $500 million
Effective: 2023-12-15

Exact text from the filing

On December 15, 2023, loanDepot FA Agency MSR, LLC, a Delaware limited liability company and direct, wholly-owned subsidiary of loanDepot.com, LLC, as borrower (the “Borrower”), entered into a Credit Agreement (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) with loanDepot.com, LLC, a Delaware limited liability company and an indirect, majority-owned subsidiary of loanDepot, Inc., as guarantor (the “Company”), 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 0001831631-23-000341

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