melloNow uses dynamic logic to improve customer and originator experience,

reduce cycle times and drive down overall cost to produce

loanDepot, Inc. ("LDI" or "Company") (NYSE: LDI), a leading provider of home lending solutions that enable customers to achieve the dream of home ownership, today unveiled its fully automated melloNow underwriting engine, changing the game for mortgage borrowers by delivering a fully conditional loan approval in minutes rather than hours or days.

Utilizing a fully digital verification process, melloNow delivers a significantly faster evaluation and underwriting process that brings clarity and confidence—and eliminates surprises—right from the start. It swiftly analyzes credit reports, detects fraud, and validates income and employment data at the point of sale, instantaneously generating unique borrower conditions.

This helps both the loan officer and the customer understand exactly what’s needed so they can assemble the required paperwork quickly and efficiently. This in turn is expected to provide a real-time conditional approval for a large segment of loans and assist the loan underwriter by ensuring they obtain all documentation required to properly review and validate the application as soon as it is received.

Now, with the melloNow digital underwriting engine, many loanDepot customers will enjoy a dramatically improved experience.

The Company, which has been beta-testing the system for the last several quarters, says this new capability is another important milestone in its ongoing work to deliver a digital-first approach that makes it easier, faster and less stressful to refinance or purchase a home.

“loanDepot’s forward-thinking approach to technology, always in service of improving the customer and loan origination experience, has once again delivered a significant innovation,” said LDI Mortgage President Jeff Walsh. “melloNow is not just another automated underwriting system, it’s a groundbreaking step forward that provides a full conditional loan approval within minutes. We’re now able to provide our customers with the certainty and peace of mind that comes with quick loan approval, bypassing the delays and friction points typical of traditional loan evaluation and approval processes while improving overall loan quality. Today’s consumers expect a fast and seamless digital experience, and with melloNow, we are delivering it.”

EVP of Lending Operations Viviana Abarca added, “Team loanDepot is focused on delivering a best-in-class customer experience throughout the entire loan journey, from our initial contact with a prospective borrower to the long-term servicing of the funded loan. With melloNow, we’re changing the landscape for home buying and refinance, making it easier, faster and smoother for our customers to accomplish their goals.”

About loanDepot

loanDepot (NYSE: LDI; NMLS # 174457) is an equal housing lender and digital commerce company committed to serving its customers throughout the homeownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster and less stressful to purchase or refinance a home. Today, as one of the nation's largest non-bank retail mortgage lenders, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional and national philanthropic efforts.

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.@loanDepot unveiled its fully automated melloNow underwriting engine, changing the game for mortgage borrowers by delivering a fully conditional loan approval in minutes rather than hours or days.