loanDepot Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
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Finance: Consumer Services
Finance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (or date of earliest event reported): May 30, 2025
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Registrant’s telephone number, including area code: (888) 337-6888
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Item 1.01 Entry into a Material Definitive Agreement.
Credit Agreement with Nomura Corporate Funding Americas LLC
On May 30, 2025, loanDepot FA Agency MSR, LLC, a Delaware limited liability company and direct, wholly-owned subsidiary of loanDepot.com, LLC, as borrower (the "Borrower"), entered into an Omnibus Amendment of Transaction Documents (the "Amendment") with loanDepot.com, LLC, a Delaware limited liability company and an indirect, majority-owned subsidiary of loanDepot, Inc., as guarantor (the "Company"), and Nomura Corporate Funding Americas, LLC, as administrative agent and sole lender ("NCFA"). The Amendment was entered into in connection with the appointment of NCFA as the administrative agent, and the assignment to NCFA of 100% of the commitment under the Credit Agreement, dated as of December 15, 2023 (as amended, restated, supplemented or otherwise modified from time to time, the "Credit Agreement"), by and among the Borrower, the Guarantor, the financial institutions that may from time to time become parties thereto and administrative agent party thereto. The Credit Agreement and certain ancillary agreements provide for a revolving line of credit of up to $300 million available to the Company that is secured by certain of the Company's mortgage servicing rights with respect to mortgage loans serviced for Fannie Mae pursuant to the Fannie Mae servicing contract and other collateral listed in the Credit Agreement. The maturity date of the Credit Agreement is May 29, 2026, unless terminated earlier in accordance with the terms of the Credit Agreement. The primary purposes of the Amendment are to reflect the assignment to, and assumption of the facility by, NCFA, as administrative agent and sole lender, and to update expiration and financial terms.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | ||||
| 10.1# | |||||
| 10.2# | Credit Agreement, dated December 15, 2023, as amended on May 30, 2025 by the Omnibus Amendment of Transaction Documents, among Nomura Corporate Funding Americas, LLC, as administrative agent for the financial institutions that may from time to time become parties as Lenders, loanDepot FA Agency MSR, LLC, as borrower, loanDepot.com, LLC, as guarantor, and the Lenders party thereto (included as Exhibit A-1 in Exhibit 10.1). | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
# Certain portions of this exhibit have been redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K. The Company agrees to furnish supplementally an unredacted copy of the exhibit to the Securities and Exchange Commission upon its request.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
loanDepot, Inc. | ||||||||
By: | /s/ David Hayes | |||||||
Name: David Hayes | ||||||||
Title: Chief Financial Officer | ||||||||
Date: June 5, 2025