loanDepot.com, LLC was originally incorporated as LoanDepot.com on April 1, 2009 as a California corporation. The company merged into Trilogy Mortgage Holdings, Inc., a Delaware corporation, on December 7, 2009, and immediately converted into loanDepot.com, LLC, a Delaware limited liability company. loanDepot.com, LLC became licensed as a money broker in the State of North Dakota on November 30, 2010. The Licensee is owned by Parthenon LoanDepot Investment Holdings, Inc. (54.67%) and Trilogy Mortgage Holdings, Inc. (36.05%). loanDepot.com, LLC engages in the business of originating, financing, and selling mortgage loans secured by residential real estate and derives income primarily from fees charged for services related to the origination of mortgage loans and the subsequent sale of the loans to investors. Loans are funded through warehouse lines of credit and are sold to investors, typically within thirty days. The Licensee originates all its residential real estate loans with the intent to sell them on the secondary market. Loans held for sale are pledged as collateral under the Licensee’s warehouse lines of credit. In 2015, the Company expanded its product offerings to include personal and home equity loans and derives income primarily from origination and servicing fees. In November 2016, the Company formed Artemis Management LLC (“Artemis”) to …show more content…
As of year-end 2015, the Licensee originated or funded 29 North Dakota loans in the amount of $17,532,594. As of year-end 2016, the Licensee originated or funded 174 North Dakota loans in the amount of $37,046,248. As of year-end 2017, the Licensee originated or funded 170 North Dakota loans in the amount of