loanDepot reduces 2023 net loss.

loanDepot, a US lender, reported a 37% reduction in its 2023 net loss to $236m, compared to the $375m net loss in 2022. The company cut its annual expenses by $693m and increased its fourth-quarter revenue by 35% despite a 58% decrease in loan origination volume. loanDepot's Vision 2025 strategy focused on cost reduction, technology investments, and restructuring, enabling it to maintain a strong liquidity profile with a cash balance of $661m.

March 12, 2024
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