IRVINE, Calif., Nov. 2, 2016 /PRNewswire/ -- In less than seven years, loanDepot, America's lender, has taken the retail mortgage industry by storm, soaring to the top tier of home loan lending as the newest and forward-looking brand among the nation's five largest retail mortgage lenders. Today, as a result of loanDepot's rise from the seventh position in 2015 to the fifth, the top five largest retail mortgage lenders, including loanDepot, are Wells Fargo, Quicken Loans, Bank of America, and JP Morgan Chase, according to the most recent Inside Mortgage Finance (IMF) report on the nation's top retail mortgage lenders 1.
Since launching in 2010, loanDepot has experienced 400 percent annual market share growth and achieved 70 percent average annual year-over-year growth since inception. loanDepot's 1,700 licensed loan officers hold more than 10,000 licenses to serve borrowers in all 50 states, reinforcing its position as a national diversified origination platform with a well-balanced strategy to penetrate refinance, purchase and consumer loans. The latest IMF report on top Retail Mortgage Lenders echoes results reported in the latest Home Mortgage Disclosure Act (HMDA) survey released last month showing loanDepot's rise as the newest contemporary company with a category leading position among the top five lenders, rising from 10 th in 2014 2 to fifth place in 2015 3 among national originators of all mortgage products. "The loanDepot platform is purpose-built to deliver a high-tech digital and high-touch human experience through our website and our national network of licensed lending officers," said loanDepot Chairman and CEO, Anthony Hsieh. "By engineering our own technology, digitizing the mortgage experience and further expanding our retail network, we're reimagining how borrowers can access credit on their own terms. The popularity of our modern approach is demonstrated by steady increases in consumer demand for our services and quality loan products." loanDepot's year-to-date funding volume for the first three quarters of 2016 reached $27 billion, a 23 percent increase compared to the same period in 2015, and three times the funding volume for the entire year of 2013. As the youngest brand among today's top five retail mortgage lenders, loanDepot has funded more than $90 billion in home, personal and home equity loans since inception. loanDepot has also significantly grown top line revenue this year. For the first three quarters of 2016, the company grew its year-over-year revenue by approximately 36 percent compared to the same time last year, or 78 percent higher than the entire year of 2014.