XML 24 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES:        
Interest income $ 51,202 $ 71,020 $ 166,888 $ 187,625
Interest expense (41,408) (56,785) (121,220) (165,130)
Net interest income 9,794 14,235 45,668 22,495
Gain on origination and sale of loans, net 156,300 821,275 665,993 2,647,328
Origination income, net 21,268 86,601 119,449 280,824
Servicing fee income 113,544 102,429 341,929 279,738
Change in fair value of servicing rights, net (38,479) (138,462) (140,370) (327,194)
Other income 11,765 37,678 53,472 116,487
Total net revenues 274,192 923,756 1,086,141 3,019,678
EXPENSES:        
Personnel expense 218,819 449,152 861,382 1,523,012
Marketing and advertising expense 42,940 131,971 205,289 355,730
Direct origination expense 19,463 49,559 106,616 146,553
General and administrative expense 83,412 50,013 197,089 149,984
Occupancy expense 9,889 9,686 28,673 28,956
Depreciation and amortization 10,243 8,688 32,110 25,827
Servicing expense 14,221 22,879 46,472 76,731
Other interest expense 36,138 22,823 83,671 57,261
Goodwill impairment 0 0 40,736 0
Total expenses 435,125 744,771 1,602,038 2,364,054
(Loss) income before income taxes (160,933) 178,985 (515,897) 655,624
Income tax (benefit) expense (23,451) 24,708 (63,274) 47,210
Net (loss) income (137,482) 154,277 (452,623) 608,414
Net (loss) income attributable to noncontrolling interests (77,401) 102,802 (256,873) 503,503
Net (loss) income attributable to loanDepot, Inc. $ (60,081) $ 51,475 $ (195,750) $ 104,911
(Loss) earnings per share:        
Basic (in usd per share) $ (0.37) $ 0.40 $ (1.29) $ 0.82
Diluted (in usd per share) $ (0.37) $ 0.40 $ (1.29) $ 0.82
Weighted average shares outstanding:        
Basic (in shares) 162,464,369 130,297,565 151,803,928 127,941,331
Diluted (in shares) 162,464,369 130,297,565 151,803,928 127,941,331