loanDepot narrows Q2 net loss as home equity lifts margins

loanDepot reported a sharply narrower net loss in the second quarter as the lender expanded its home equity business, increased loan production and improved operating leverage. The company posted a net loss of $6.6 million for the second quarter ended June 30, compared with a loss of $54.9 million in the first quarter. Revenue increased 18% from the prior quarter to $337.3 million, while loan origination volume rose 4% to nearly $8 billion. The company’s earnings results for Q2 2026 closely follow a call from retail activist investment firm Randian Capital for loanDepot’s board of directors to launch a formal review of strategic alternatives. In an open letter to the board, Randian cited that loanDepot’s stock has declined more than 90% since the company went public in February 2021 at $14 per share and said that broader economic conditions do not explain loanDepot’s “prolonged underperformance.” loanDepot previously told HousingWire it had no comment and its leadership has framed 2025 and 2026 as a multi-quarter rebuild. And despite its stock performance, the company recently announced plans to expand its physical footprint, saying it would open a Miami corporate center in Septemb...