loanDepot reported second quarter 2026 revenue of $337.3 million and a diluted loss per share of $0.02, missing analyst expectations for both metrics. However, the company showed significant sequential improvement, substantially narrowing its net loss to $6.6 million from $54.9 million in the prior quarter, driven by a strategic shift towards higher-margin home equity loans.
Key Highlights
- Loan origination volume increased 4% sequentially to $8.0 billion, driven by growth in home equity lending.
- The net loss narrowed significantly to $6.6 million, compared to a net loss of $54.9 million in the first quarter of 2026.
- Pull-through weighted gain on sale margin expanded by 74 basis points from the prior quarter to 3.45%, attributed to a deliberate mix shift toward home equity and government loans.
- Pull-through weighted lock volume was $6.63 billion, a 20% decrease from the prior quarter, which the company states is due to the shift toward HELOCs that do not carry an associated interest rate lock.